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New South Wales auction results for week ending Sunday 25 October show a preliminary clearance rate of 64% from 995 scheduled auctions.
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<div class="num">According to data from realestate.com.au, 311 properties were sold at auction within NSW, 199 passed in and 176 sold prior to auction.</div>
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<div class="num">One standout property in the Sydney suburb of Grays Point - a four bedroom home at <a href="https://www.realestate.com.au/property-house-nsw-grays+point-120861537" target="_blank">60 Budyan Road Grays Point sold for $1,250,000</a>.</div>
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<div class="num"><a href="https://www.realestate.com.au/auction-results/nsw?rsf=edm:auction:nsw" target="_blank">Click here to see the full state breakout.</a></div>
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NSW auction results show 64% clearance rate: Realestate.com.au

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Australian Property Monitors (APM) has released a list of results from 796 listed auctions in Sydney for Saturday October 24. The clearance rate was 64%.
<a href="https://www.homepriceguide.com.au/saturday_auction_results/Sydney.pdf" target="_blank">Click here</a> for the auction results, and click on each street address to see the property's marketing.
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APM's Sydney October 24 auction results

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The most clicked home on realestateview.com.au for the week is a five room, two bedroom, two bathroom luxury home in East Melbourne.
The property (above), <a href="https://www.realestateview.com.au/Real-Estate/28-charles-street-east-melbourne/Property-Details-buy-residential-9593448" target="_blank">28 Charles Street</a>, East Melbourne, is listed for auction on Saturday 24 October through Paul Caine of Caine Real Estate.
The second most clicked property on realestateview for the week is a one bedroom apartment in Fitzroy (below).
<img src="/images/2015/10/23/16-5-St-David-Street-Fitzroy-VIC-3065-Real-Estate-photo-1-large-9626802.jpg" alt="" width="497" height="331">
<a href="https://www.realestateview.com.au/Real-Estate/16-5-st-david-street-fitzroy/Property-Details-buy-residential-9626802" target="_blank">16/5 St David St Fitzroy</a> has stainless steel Smeg appliances and a secure car space and is for sale by auction through Peter Hannon and Terri Thompson of Caine Real Estate.
Another studio apartment features on realestateview's most clicked listings for the week, this one currently rented until August 2016.
Offered for sale at $345,000, the property, <a href="https://www.realestateview.com.au/Real-Estate/91-22-kavanagh-street-southbank/Property-Details-buy-residential-9594816" target="_blank">91/22 Kavanagh St Southbank</a>, (below) is on the market through Tom Bayly and Toby Campbell of Caine Real Estate.
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A five bedroom home in the South Australian suburb of Burnside rounds out the top listings for the last week from realestateview.com.au.
The property, <a href="https://www.realestateview.com.au/Real-Estate/4-st-albans-drive-burnside/Property-Details-buy-residential-9236310" target="_blank">4 St Albans Drive, Burnside</a>, South Australia, (below) has views, an in-ground swimming pool and spa and solar power.
It is for sale through Aimee Guo and Tony Ditria from Munro Property Group for $988,000. 
<div><img src="/images/2015/10/23/4-St-Albans-Drive-Burnside-SA-5066-Real-Estate-photo-1-large-9236310.jpg" alt="" width="406" height="276"></div>
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East Melbourne home leads most clicked properties: Realestateview.com.au

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ANZ has increased variable interest rates for all Australian variable home and residential investment loans to partially offset rising regulatory capital requirements against home lending, chief executive officer Mark Whelan announced.
The standard variable rate for owner-occupier home loans will increase by 0.18%pa to 5.56%pa and the Residential Investment Property loan index will increase by 0.18%pa to 5.83%pa, with changes coming into effect 20 November.
The increase, a total of 18 basis points, will add $36 per month to the average home loan of $242,000, according to ANZ. 
Ashley Playsted, CEO of Wealthie, the mortgage brokering service, said he expected consumer confidence would take a hit, "but consumers need to proactively turn their attention to the less publicly-known lenders, who are actually putting their rates down." 
<div>"These non-major bank lenders may not have the branch networks that you can walk in to," he said.</div>
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<div>"People worry about the security of the small lender, however, this is slowly changing."</div>
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ANZ to increase variable interest rates for all Australian variable home residential investment loans 

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GUEST OBSERVER
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Changing occupier requirements are the main driver behind the growing sophistication of industrial property. Warehousing has historically been one of the more passive property types however growth in eCommerce and the globalisation of logistics have driven innovative changes to internal fit out requirements. This is leading to greater complexities for occupiers and developers. 
Distribution centres are now far more dynamic – goods are moving faster, higher clearances are required and there is greater demand for natural light and better performing slabs. Occupiers are changing with third party logistics (3PL) experiencing enormous growth and supermarket groups becoming more sophisticated in how they move goods through their distribution channels. Ecommerce providers frequently require specialist internal design and fit out of their warehouses. 
While change is occurring, there is still a wide variation in how occupiers are utilising their space. From highly automated picking systems requiring very little human interaction to boxes on the floor with paper based systems tracking stock levels, the evolution depends on the rate of change in the industry in which the occupier operates. 
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Change 1: eCommerce 
Growth in eCommerce 
More retail trade is moving to eCommerce, although it still remains relatively small compared to traditional bricks and mortar retailing. Although in recent months the weakening of the Australian dollar and the implementation of Goods and Services Tax (GST) on goods bought online from overseas has led to a slowing of eCommerce, it is forecast that for some product types, there will continue to be erosion of spending in traditional bricks and mortar retailing. 
The biggest challenge for eCommerce in Australia is the cost of getting goods from the warehouse to consumers. The vast distances that need to be covered and the insatiable demand from consumers to get goods quickly can make delivering goods particularly expensive. For many operators, rent on a warehouse is a secondary consideration compared to the cost of logistics. 
For traditional retailers with an eCommerce presence, the majority of purchases are still filled out of store. There are generally no specialist online warehouses or special systems developed within existing warehouses to fulfil orders. An exception to this is for particularly large items (e.g. fridges) that are delivered directly from a warehouse to customer rather than from a store when an online order is made. 
This is starting to change for larger retailers. Major supermarket chains previously filled online orders from a store hub but are now starting to use “dark supermarkets”; basically a supermarket in a warehouse, inaccessible to consumers, where staff fulfil online orders. The perishable nature of grocery items means that it is likely that these dark supermarkets will need to be located in each capital city, as opposed to just one location. 
For pure eCommerce groups, the way that they warehouse their goods and handle delivery depends on the type of product they sell, the size of the business and where they source their goods. For most groups, a 3PL service is utilised. The extent to which they use 3PL differs with some using them for delivery only, with others using them for the full end to end service. At its most complete level, 3PL can be used for an eCommerce provider to provide a service from when a consumer presses “buy” on an online site to delivery or even return if the item.
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For large groups selling non-perishable goods that can be delivered in a small parcel, having only one warehouse in Australia makes the most sense. The cost of delivering goods in Australia is generally not dependent on distance and the nature of eCommerce means that it is difficult to predict where the next order will come from. Most products are produced offshore and hence close proximity to a major port is also generally a requirement for occupiers. 
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Change 2: Globalisation of logistics 
Logistics has gone global and is becoming more complex and sophisticated in how it operates. There have been some major changes to ownership in the logistics industry. Toll Group has now become part of Japan Post, Australia Post is now the sole shareholder in Startrack and has been rapidly reinventing itself as a logistics service provider, while global giant Brookfield has made a takeover bid for Australian freight logistics company Asciano. 
These changes to ownership structure, as well as increased usage of 3PL services in Australia has meant enormous growth in the amount of industrial floor space these groups occupy, as well as significant investment in more sophisticated and automated warehousing facilities. The forecast growth these groups expect is also aggressive. Many of them are now looking to partner with developers of industrial facilities, particularly those with significant land holdings, to ensure that they are able to access a pipeline of development. 
A new term for very large warehouses has also emerged. Campus Style Distribution Centres are now a requirement for major groups such as DHL and CEVA, both of which are looking at distribution centres now in excess of 75,000sqm. This trend to larger facilities, able to handle greater quantities, is expected to continue to be a trend in global warehousing. In Asia, most cutting edge facilities are now at least 150,000sqm with the Interlink in Hong Kong comprising 213,000sqm and Logistic Republic – Taipei Park in Taipei expected to comprise 264,000sqm on completion. 
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Change 3: Design 
Who are the leaders in warehousing design? 
Historically warehouses have been relatively simple buildings and there was very little focus put on the internal fit out. This has changed and the most sophisticated warehouses now have slabs that can handle greater loads, larger cubic capacity and high bays. To enable the best use of this space, greater use of robotics and high-tech picking systems are being implemented. 
There is however still significant divergence from these highly advanced warehouses with more simplistic designs still commonly in use. At a broad level, it is primarily the large 3PL groups, as well as large supermarkets and fast moving consumer goods (FMCG) groups that are the most advanced. The scale required by these groups, as well as the speed required to move goods, makes significant investment in fit out worthwhile. They are looking to create improved efficiencies in better designed buildings. 
Another driver of greater cubic capacity, as well as high bays, is the location of the warehouse. In a market such as Melbourne where land availability remains abundant, it is unlikely there will be as much demand. This contrasts to Sydney where land costs are significantly higher. 
There is a greater focus on the indoor working environment of warehouses. This is to allow better working conditions for staff, but also better conditions for storing goods. Better ventilation, constant temperature and high security are a greater focus. The ability to operate the warehouse 24 hours a day is also frequently a greater consideration. 
Sustainability continues to play a role and more facilities are moving to a 6 Star Green Star rating. The focus is however less on committing to minimum targets but looking to achieve demonstrable cost efficiencies. Developers are looking to add value to occupiers and this can include offering such inclusions as power off facilities, advanced monitoring and geothermal generation. 
High tech retrieval systems start to make a mark 
There are still only a few occupiers that are using high tech retrieval systems. The capital costs are so high and hence this restricts investment for many occupiers. Spending on research and development of these systems is however continuing to increase and costs are expected to come down significantly over the next decade, to the extent that there will continue to be less people required to operate a warehouse. 
There is a range of how sophisticated occupiers are being in the use if retrieval systems. At the most advanced level, automated robotics have the ability to completely do away with forklifts however these are too expensive for most occupiers. Mobile automation appears to be having quicker take up. An example of this is mini forklifts that are able to operate on any surface. These forklifts are highly mobile, allow for higher stacking and provide the ability to pick one item, instead of taking a whole pallet. 
Nerida Conisbee is national director of research for Colliers International and can be contacted <a href="https://www.colliers.com/nerida.conisbee" target="_blank">here</a>.
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The rise of the robots? Colliers' Nerida Conisbee

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New research from Savills on the Adelaide office market has indicated premium CBD space is going for between $500sqm and $560sqm for gross face rent.
The South Australia Quarter Times, covering Q3 2015, also noted the typical lease term of such property was between seven and ten years.
<a href="/images/2015/10/21/Screen%20Shot%202015-10-21%20at%202.32.50%20PM.png" target="_blank">Click to enlarge</a>
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For more information, click <a href="https://www.savills.com.au" target="_blank">here</a>.
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Premium Adelaide CBD office space rentals fetch nearly $560sqm gross: Savills

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Two new entries have been posted on the top ten discounted properties nationwide list from SQM Research - one in Queensland and the other in Tasmania.
The Queensland property, 35 Chataway Street, Carina Heights (above), now takes up ninth position following a total price reduction percentage of 32% in just 138 days.
The Tasmanian home, 78 Lewisham Scenic Drive, Lewisham (below), has been on the market since August last year and has since then been reduced by a total of $151,000, bringing the current asking price to a low $350,000, according to SQM Research managing director Louis Christopher.
<img src="/images/2015/10/21/image2-1.jpg" alt="" width="517" height="388">
He said the Queensland property consists of a highly sustainable four bedroom home set on a large 1,459 sqm block with a knockout certified organic garden to be used as you see fit.
"The property is located just under 10km's outside of Brisbane CBD via the Pacific Motorway and is within close distance of local shops and public transport. The properties overall eco county feel is truly unique for those wanting a little extra space whilst being within commuting distance of Brisbane CBD," he said.
"The Tasmanian beauty has been on the market since August last year and has since then been reduced by a total of $151,000, bringing the current asking price to a low $350,000. This charming four bedroom home sits on approximately 2510 sqm's of land facing north overlooking picturesque Frederick Henry Bay.
"Median asking prices in the capital of Tasmanian are down 1.7% over the last 12 months. If asking prices continue to fall, the vendor might be forced to reduce the price lower, or be open to negotiations."
 
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Two new entrants on top ten discounted properties nationwide list: SQM Research

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The latest discounted property of the week from SQM Research is a three bedroom home under 25km from Melbourne's CBD with an asking price reduced some $5,000 since July.
The property, 11 Brae Grove Point Cook, Victoria, was listed initially with a price range of between $390,000 - $410,000.
SQM Research managing director Louis Christopher said the asking price is now down to $385,000, which should allow the property to appeal to more buyers who are looking in the mid to high $300's.
"The backyard is very generous with a handy timber deck for the adults and plenty of cleared grass for the kids to play," he said.
"If this is not enough room there is a local park directly across from the property. The properties location and size is ideal for a young family and or person/s looking to start a family soon. The vendor says the property is located within close distance of local schools and shops for additional convenience."
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Point Cook home discounted property of the week: SQM Research

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Residential vacancies dropped in Melbourne, Canberra, Darwin and Hobart in September, according to new figures released by SQM Research.
SQM Research managing director Louis Christopher said over the year, vacancy rates in Hobart have continued to fall with a significant 0.4% drop from this time last year.
"Vacancy rates in Melbourne have also fallen 0.3% over the last 12 months, bringing the total number of vacancies down to 272 in September 2015. Both falls reflect the tightening of both residential markets post downturns," he said.
"The number of residential vacancies remained tight across the nation in September 2015, with a vacancy rate of 2.3% posted based on 70,037 vacancies. Vacancies remained the same in most capital cities, excluding Melbourne, Canberra, Darwin and Hobart, where vacancies dropped over the month of September.
"Darwin and Canberra recorded the biggest monthly fall with vacancy rates down 0.2 percentage points from August 2015. Hobart and Melbourne soon followed with vacancies falling 0.1% over the month of September."
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SQM Research state asking rents for Darwin and Perth are down when compared to last year, with Darwin house rents down 18.8% and 15.1% for units over the past 12 months. asking rents for Perth houses are down 7.5% and units 7.2%.
 
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Hobart vacancy rates continue to fall: SQM Research

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ME Bank has cut its two-year Flexible Home Loan fixed rate for owner-occupiers to 3.89% or 40 basis points.
Head of ME home loans, Patrick Nolan, said the cut comes about following cheaper fixed rate funding.
“Savvy borrowers also have the option to split both ourtwo2-year fixed rate with our competitive Flexible Home Loan with Member Package variable rate for new loans of 4.19% p.a,” he said.
For more information from ME, <a href="https://www.mebank.com.au" target="_blank">click here</a>.
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ME Bank cuts flexible home loan fixed rate

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

Joel Robinson

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

IN BRIEF

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	Just three double-storey Sky Homes sit at the top of The Waterline, each with its own private marina berth and rooftop terrace.
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	Construction on The Waterline is complete, with the first residents expected to move in from mid-October.
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	Sky Homes range from 282 sqm to 367 sqm and are priced from $3.65 million.
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Lewis Land has opened the first completed sky home for inspection at Harbour Shores, giving buyers their first opportunity to step inside one of just three double-storey residences crowning The Waterline.

Each sky home comes with its own private marina berth, rooftop terrace and Broadwater views, combining the scale of a larger home with direct access to the boating lifestyle that underpins the wider <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan.

[smartcode_project:default project_id=113271 project_image_fid=366708]

Lewis Land Head of Development Michael Long said the inclusion of a berth with every Sky Home had become increasingly valuable as marina access across the Gold Coast tightened.

“Marina berths are becoming increasingly difficult to secure across the Gold Coast, so including one with every Sky Home makes this a genuinely rare offering,” Long said.

“The private 70-berth marina will accommodate boats up to 12 metres in length and is positioned just 2.5 kilometres from the Broadwater, placing the open ocean only 15 minutes away.

“Being able to step out of your home onto your boat is a rare luxury, and it’s something residents here can look forward to when it opens later this year.”

[smartcode_project:default project_id=113271 project_image_fid=366709]

The display opening comes as construction completes on The Waterline, with the first residents expected to move in from mid-October.

The three Sky Homes range from 282 sqm to 367 sqm and each feature three bedrooms, three bathrooms, multiple living zones, expansive kitchens with butler's pantries and large balconies taking in the Broadwater outlook.

Each residence also has three secure basement car spaces and additional storage.

“This is the first opportunity the Gold Coast has had to step into Harbour Shores and see, touch and feel what we’re bringing to life here,” Long said.

“There are only three Sky Homes within The Waterline, ranging in size from 282sqm to 367sqm, with each residence featuring three large bedrooms, three bathrooms, multiple living zones, expansive custom-built kitchens with butler’s pantry, and large balconies capturing Broadwater views.”

<img alt="Harbour Shores" data-entity-type="file" data-entity-uuid="bab65e10-4fab-45e1-92d8-fc56e2ab98ff" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%202.00.16%E2%80%AFPM.png?VersionId=XT8q76LsPkw3cYTsvN3JfFDaPLud90PN" />

Residents of The Waterline will have access to a private pool, along with Harbour Shores' wider collection of amenity including a lagoon pool, social clubhouse, tennis court, gym, yoga facilities and sauna.

Lewis Land partnered with Studio Collective to furnish the completed display, with the interiors designed to demonstrate how the residences could function as permanent homes rather than simply as show apartments.

Studio Collective Director Melissa Park said the surrounding waterways informed the interiors, but in a more restrained way than a traditional coastal scheme.

“We drew inspiration from the canals and coastal surrounds, but our approach was to interpret that subtly through layered materials and a grounded palette of earthy tones, rather than literal coastal references,” Park said.

“We introduced hero moments of green and teal to reference the surrounding waterways, while mirrored elements help reflect natural light.

“The result is a residence that feels elevated yet comfortable, somewhere buyers can genuinely imagine themselves living, entertaining and unwinding.”

Sky Homes are priced from $3.65 million.

Lewis Land is also offering private marina berths with The Residences, its limited collection of three and four-bedroom villas positioned directly along the Harbour Shores waterfront boardwalk.

Three-bedroom villas are priced from $2.99 million, while four-bedroom residences start from $3.19 million.

Harbour Shores is being marketed by Colliers International.

[smartcode_project_cta:default project_id=113271]

Lewis Land opens sky home display as The Waterline completes at Harbour Shores

St Vincent de Paul Society Housing Australia has filed plans for a major mixed-use housing precinct on the southern edge of the North Sydney CBD, adding another significant proposal to a pocket around North Sydn​ey Station that is quickly becoming one of the LGA's busiest development zones.

The State Significant Development Application covers a 5,990 sqm site at <a href="https://www.apartments.com.au/new-apartments/1-19-mackenzie-street-lavender-bay-nsw-2060">1-19 MacKenzie Street and 211 Blues Point Road in Lavender Bay</a>, immediately south of Nor​th Sydney Station and between the commercial core and the lower-rise Lavender Bay Heritage Conservation Area.

Designed by Wardle, the proposal would deliver a new residential tower comprising 88 build-to-sell apartments and 19 affordable apartments, alongside a separate co-living building with 57 rooms and a building manager's studio.

It would also see the significant restoration and upgrade of St Francis Xavier Catholic Church, the adaptive reuse of the former school building, new parish facilities, retail, a new public square and around 1,000 sqm of publicly accessible open space.

<img alt="Vinnies North Sydney" data-entity-type="file" data-entity-uuid="d5dd7f87-a617-463e-b577-17541e01f0e9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.13%E2%80%AFAM.png?VersionId=4R8TsFN3P_LrrXO2HswTOIrx2blil8lh" />

The project is seeking a concurrent rezoning of the site to R4 High Density Residential and an increase in the maximum building height to allow a tower reaching RL120, or up to 20 storeys. The proposal was progressed through the NSW Government's Housing Delivery Authority pathway.

The build-to-sell component will be weighted toward larger apartments, with just six one-bedroom apartments compared with 31 two-beds, 43 three-beds and eight four-bedroom residences.

The 19 affordable apartments will comprise two studios, 15 one-bedroom apartments and two two-bedroom apartments, taking the total apartment component to 107 residences before the 58 co-living rooms are included.

<img alt="Vnnies" data-entity-type="file" data-entity-uuid="7d568ca5-cb90-4e18-96c6-d9795dba0c56" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.05%E2%80%AFAM.png?VersionId=GY2R5M9VtQh0EKy1vajaea19PSLOPuRD" />

Wardle's design for the Vinnies site has sought to negotiate that emerging high-rise context while retaining the lower-scale character of MacKenzie Street and the adjoining heritage conservation area.

The main building adopts a three-storey podium and tower arrangement, with the podium aligned to the ridgeline and front setback of St Francis Xavier Church.&nbsp;Wardle has designed the podium with colonnades, seating, recessed entries and active ground-floor frontages, with sandstone-toned precast concrete and face brick referencing the materiality of the existing church.

The tower then steps back eight metres to the south and six metres to the north before rising in a sculpted form comprising four interlocking quadrants. Wardle has also introduced rounded forms and chamfered corners to reduce the tower's perceived bulk and improve view sharing with neighbouring development sites.

Resident facilities and outdoor areas are planned at the separation between the podium and tower at Level 3, oriented toward Sydney Harbour and the CBD skyline.

The tower itself will feature a glass reinforced concrete facade, with recessed balconies and deep reveals used both to provide shading and privacy and frame views toward the harbour and city. The lower levels take a different architectural approach, using brick and sandstone-toned finishes intended to establish a stronger relationship with St Francis Xavier Church. The Church itself will be conserved and upgraded for its continued use, while the former school building will be adaptively reused as part of the co-living component.

<img alt="Lavendar Bay" data-entity-type="file" data-entity-uuid="2d4418ad-90aa-4d49-af93-c80b140aea80" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.09.47%E2%80%AFAM.png?VersionId=Kv4gzbsACaGvZSRuaqcfGC54jEJRXIDJ" />

&nbsp;

The proposal adds to an increasingly concentrated pipeline of residential development around Blue Street, MacKenzie Street and Lavender Bay.

Just west of the site, Central Element lodged plans earlier this year for one of the most significant residential developments proposed in Lavender Bay in recent years.

Central Element's SJB-designed scheme at 64-66 Lavender Street and 3-7 Middlemiss Street would deliver 163 apartments across two towers rising 23 and 32 storeys, replacing five existing apartment buildings containing 32 homes. The project also forms part of the Housing Delivery Authority pathway.

<a href="https://www.apartments.com.au/news/nsw/first-look-central-element-reveals-lavender-bay-apartment-plans?utm_source=chatgpt.com" rel="noopener" target="_blank">First look: Central Element reveals Lavender Bay apartment plans</a>

Immediately around North Sy​dney Station, another two significant proposals have emerged at 5 and 15 Blue Street.

Zurich Australian Insurance Properties is seeking to adaptively reuse its longstanding commercial building at 5 Blue Street, directly above North Sydney Station, rather than demolishing the structure.

Its SSDA proposes converting the building into a 14-storey mixed-use development with 62 apartments and 86 co-living rooms, together with ground-floor retail and a major refurbishment of Blue Street Plaza. The application is currently at the Response to Submissions stage.

<a href="https://www.apartments.com.au/news/nsw/first-look-zurich-targets-north-sydney-office-conversion-with-148-unit-proposal-above-metro-station">First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station</a>

&nbsp;

First look: Vinnies files for 20-storey Lavender Bay apartment tower as North Sydney housing pocket heats up

When the opportunity arose for South Australian developer Palumbo to return to Kent Town, where it had previously delivered East Park Apartments and the East 
Rundle Apartments, it wasn't one the longstanding developer-builder was going to pass up.

The decision was quickly vindicated, with more than 30 apartments sold within the first month of launching <a href="https://www.apartments.com.au/new-apartments/royal-apartments-kent-town-2-8-north-terrace-kent-town-sa-5067">Royal Apartments</a> to the market.

The 206-apartment development, which will bring significant new supply to Adelaide's tightly held eastern city fringe, also gives <a href="https://www.apartments.com.au/developers/palumbo">Palumbo</a> the opportunity to bring new life to one of Kent Town's most recognisable watering holes.

[smartcode_project:default project_id=6109 project_image_fid=376073]

Royal Apartments incorporates the historic Royal Hotel, a venue Palumbo Managing Director Daniel Palumbo said has a longstanding connection with the local community.

"Everyone in the area has history with the Royal Hotel," Palumbo told Apartments.com.au.

"It was quite an active pub and social gathering place for locals. We want to bring it back to its former glory."

[smartcode_project:default project_id=6109 project_image_fid=376072]

The wider development will comprise two residential towers alongside the restored hotel, sitting on North Terrace opposite the Adelaide Park Lands.

For Palumbo, the project also marks a return to familiar territory.

The developer completed East Park Apartments next door more than a decade ago and jumped at the opportunity to develop in Kent Town again when the Royal Hotel site became available.

"The opportunity emerged, and we moved to secure the site," Palumbo said.

"We were approached by the previous landowner, who said they had extensive commitments in Sydney and weren't in a position to deliver the project.

"We took over the site and within six months recut the design scheme to be more in keeping with the type of development we want to bring to Adelaide.

"Now we're on the market and those changes have really resonated with local buyers."

That has translated into a strong start to sales, with 33 apartments transacting in the project's first 35 days.

Palumbo said the early purchaser profile had been consistent with the group's traditional focus on owner-occupiers rather than investor-led apartment stock.

"Local owner-occupiers have always been our market," he said.

"There are always some investors, but we've never developed what would be called traditional development stock. Owner-occupiers are very much our market."

[smartcode_project:default project_id=6109 project_image_fid=376068]

The buyer mix has been diverse so far, with downsizers and younger professionals both accounting for a significant portion of early sales.

South Australia's current stamp duty settings, which allow&nbsp;eligible homeowners in South Australia aged 60 savings of up to $103,830 on stamp duty when they downsize to a new property valued at up to $2 million,&nbsp;have helped encourage downsizer activity, while younger buyers in their late 20s and early 30s have been attracted to the opportunity to live immediately outside the CBD while still being able to walk into the city.



Location has been a major part of the proposition for both buyer cohorts.

[smartcode_project:default project_id=6109 project_image_fid=376075]

Royal Apartments sits on North Terrace directly opposite the Adelaide Park Lands, with residents able to walk through the parklands toward the East End, Rundle Street and Rundle Mall.

Apartments have been positioned to capture views across the parklands, Adelaide skyline, Botanic Gardens and Adelaide Hills.

Palumbo believes the scarcity of developable land along this section of the Park Lands makes the site particularly difficult to replicate.

"There's very few allotments on that side that can be developed," he said.

"If this location was in New York and you were sitting on Central Park, you'd be talking about a $60 million apartments."

Royal Apartments will offer a broad mix of residences, ranging from one-bedroom apartments through to four-bedroom sub-penthouses and penthouses.

Current listings include one-bedroom apartments from $680,000, while larger three and four-bedroom residences are priced around $2.5 million.

Residents will have access to a swimming pool, gym, barbecue and recreation areas, residents' lounge and dining space, and a communal deck.

[smartcode_project:default project_id=6109 project_image_fid=376067]

The apartments will feature generous balconies, while secure parking, bicycle storage and storage cages will also be provided.

A porte-cochère-style arrival and drop-off area has also resonated with buyers, particularly those attracted to being able to walk into the CBD during the day while retaining secure vehicle access at home.

Palumbo is acting as developer, architect and builder on Royal Apartments, continuing the vertically integrated model it has used across its South Australian portfolio.

The group was also behind the $150 million Sofitel Adelaide, the 251-room five-star hotel and residential tower which opened in 2021.

Palumbo said Royal's launch had come at an interesting time for the broader Adelaide apartment market.

Buyer confidence had initially been impacted by uncertainty surrounding the Federal Budget and broader economic conditions, but Palumbo believes sentiment is beginning to improve against a backdrop of significant investment flowing into South Australia.

He pointed to increased activity across defence and resources, including Olympic Dam, as potential long-term drivers of the state's economy and housing market.

"Money is starting to flow into Adeliade, significant amounts as Adelaide bucks the trend of the rest of the country.," Palumbo said.

"There's a lot of activity in the economy over the next decade. I think more investment will come into this market."

Early works on Royal Apartments are expected to commence this year, with major construction activity and cranes anticipated on site from early next year.

[smartcode_project_cta:default project_id=6109]

Palumbo's return to Kent Town strikes early chord with buyers

Go-to builder-developer <a href="https://www.apartments.com.au/developers/graya">GRAYA</a> is continuing to bulk out its already impressive and diverse apartment portfolio across South East Queensland. Their latest milestone is securing development approval for Silk, its boutique riverfront apartment development in St Lucia.

The approval clears&nbsp;the way for the team to begin construction planning for the 22-residence project.

<a href="https://www.apartments.com.au/new-apartments/silk-st-lucia-16-18-sandford-street-st-lucia-qld-4067">Silk</a> will rise 15 levels from an 810 sqm site at 16-18 Sandford Street, occupying a prominent bend of the Brisbane River with a prized northern aspect across Orleigh Park toward the Brisbane CBD.

The approved scheme will comprise 16 split-floor and six full-floor residences, continuing GRAYA's move into larger-format apartment developments targeting Brisbane's prestige owner-occupier market.

The project has been designed around the site's broad river frontage and dual-direction views, with GRAYA prioritising larger residences, privacy and outlook over apartment yield.

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="aa5c2349-f96c-4914-a812-1f2cd6827af8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.44%E2%80%AFAM.png?VersionId=WY0vEU_7vYjeRJKQHiCwFdMxu8PvFh52" />

GRAYA Co-founder and Chief Executive Officer Rob Gray said the project had been shaped around local homeowners wanting to remain in St Lucia without maintaining a traditional family home.

"St Lucia is one of those suburbs people do not want to leave," Gray said.

"They know the river, the trees, UQ, the golf course, Toowong and Indooroopilly, and that familiarity is hard to replace.

"True riverfront opportunities here are exceptionally scarce. What we have designed at Silk is a way to stay in the suburb people love, with the scale and privacy of a private home and far less to maintain.

"This is not typical apartment product. It is a proper home on the river, and that is exactly what this market has been missing."

The approval comes as new apartment development continues to increase across the St Lucia and neighbouring Toowong corridor, although direct riverfront sites remain considerably more tightly held.

GRAYA Co-founder and Managing Director Andrew Gray said securing the approval had removed a significant element of development risk from Silk.

"Genuine riverfront sites of this quality in St Lucia are not something that comes up regularly," Gray said.

"The approval removes a substantial layer of execution risk, and the location underwrites demand in a way very few inner-city sites can.

"The fundamentals here are as strong as anything we have assessed in Brisbane."

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="d0f3d734-65e1-48e8-8ed3-2e0715ffcdd9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.56%E2%80%AFAM.png?VersionId=sOLSs_jdHkXLWbBKzRyayf5BfTb2vPsD" />

Silk will see GRAYA return to a stretch of the Brisbane River where it already has recent construction experience. The vertically integrated group recently completed ARC in neighbouring Toowong as builder for developer Spyre, delivering the riverfront project on a constrained site.

GRAYA will take a different role at Silk, controlling the project from design and development through construction and aftercare under its vertically integrated model.

The development will include a gym and resident leisure areas at ground level, integrated with the river's edge.

Silk joins a growing pipeline for GRAYA across Brisbane and the Gold Coast, which includes Enclave, The Gallery, Coral and Ripple.

The developer-builder has also recently lodged plans for its largest project to date, <a href="https://www.apartments.com.au/new-apartments/the-silo-19-chester-street-newstead-qld-4006">The Silo</a>, a proposed <a href="https://www.apartments.com.au/news/qld/graya-buys-frasers-newstead-site-plans-the-silo-between-james-street-and-gasworks-precincts">$700 million mixed-use development</a> in Brisbane's James Street precinct.

Silk is expected to predominantly target local owner-occupiers and prestige buyers seeking a permanent riverfront home in Brisbane's inner west.

Registrations of interest are now open, with further details on the project and construction program to be released as it progresses.

<hr />
<h2>SILK PROJECT FACTS</h2>

Developer-builder: GRAYA

Project: Silk

Location: 16-18 Sandford Street, St Lucia

Apartments: 22

Built form: 15 levels

Site: 810 sqm riverfront holding

Mix: 16 split-floor and six full-floor residences

Status: Development approved

Next step: Construction planning underway

[smartcode_project_cta:default project_id=152168]

Michael Crawford

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