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Sydney held a preliminary auction clearance rate at 75.1% for the week ending September 13, according to CoreLogic RP Data's Property Market Indicator Summary, which found it the tenth week in a row with a rate below 80%.
The inner south west region had a preliminary clearance rate of 68.6% from 142 total auctions. and the northern beaches 84.4% from 63 auctions. 
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Sydney's preliminary auction clearance rate at 75.1%: CoreLogic RP Data

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The unit market in Townsville remains flat according to Herron Todd White, who see marked fluctuations over the past five years driven by the clear out of distressed developer stock and number of new unit releases.
Herron Todd White's September Month in Review said construction costs has forced developers to reduce the size and scope of their product to meet a price point. 
"Another factor to impact the unit market over the past years has been the impact of escalating body corporate fees," the report noted.
"Our current assessment of the unit market is that it remains relatively flat overall at a combined total of around 50 to 60 new and established unit sales per month. 
"Our unit survey as at the June quarter indicates a supply of 84 new developer units available for purchase. Current supply consists of three new units available in the CBD and 81 in suburban developments (within developments of 20 or more units)."
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Townsville's unit market remains flat: Herron Todd White

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The demand for inner city living in and around Hobart has driven the residential unit development market, with some trophy units going for more than $2 million over the past year, according to Herron Todd White.
Herron Todd White's September Month in Review noted the sale of a 210 square metre penthouse in South Hobart's apartment in Battery Point for $2.1 million.
The most notable unit or apartment sale in Launceston was the penthouse apartment in The Charles which sold for $2.25 million.
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Hobart trophy unit sales topping $2 million: Herron Todd White

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GEUST OBSERVER
The scale of Chinese investment in the Australian residential property market continues to polarise public opinion. Chinese buyers are often blamed for driving up house prices in Australia and causing the current affordability crisis.
However, Chinese offshore purchases are surprisingly low. Based on Foreign Investment Review Board (FIRB) approval figures, ABS data, and our own data on actual Chinese investment in commercial real estate, we estimate Chinese residential real estate investment totals around 2% of all residential real estate transactions in Australia. We define “Chinese investors” in legal terms as those who require FIRB approval for their residential property purchases.
This figure is obtained by dividing estimated Chinese investment volume in residential real estate by the total volume of residential real estate transactions. For the financial year 2013-14, based on FIRB statistics, we estimate residential property investment by Chinese investors was A$5.8 billion. This is consistent with KPMG/University of Sydney (USYD) data on actual Chinese investment in Australia.
According to the Australian Bureau of Statistics, the total sales value of residential property in Australia for the same period was A$258 billion.
Residential vs commercial
We estimate residential property investment made by Chinese investors is A$5.8 billion for the financial year 2013-14. This figure is an estimate because FIRB data for each country only list the total value of approved real estate investment without differentiating between commercial and residential real estate.
The split between commercial and residential real estate is only available for the overall investment approved for all foreign countries. For 2013-14, the ratio between commercial and residential real estate was 53 to 47. Applying this ratio to the total approved volume of Chinese real estate investment of A$12.4 billion, we obtain an estimate of A$5.8 billion for residential investment and A$6.6 billion for commercial real estate investment.
It is important to keep in mind that FIRB approval figures are generally higher than actual investment figures. For commercial real estate investment the KPMG/USYD database shows that actual investment volume was A$4.4 billion in the 2014 calendar year, which is lower than the FIRB approval figures.
Total sales value of residential property
For the financial year 2013-14, the ABS recorded 482,720 property transfers. The average price of residential properties in Australia increased by 6.3% from A$516,300 in the September 2013 quarter to 548,900 in the June 2014 quarter. Using ABS quarterly Residential Property Price Indexes data, we obtain a total sales value of residential property in Australia of A$258 billion.
The scale of Chinese investment
Based on FIRB data, overall foreign investment accounts for 13.4% percent of total residential real estate investment, while Chinese residential investment in the Australian real estate market lies near the 2% mark.
These estimates are aligned with the NAB Quarterly Australian Residential Property Surveys. These show demand by all foreign buyers fluctuating between 12.5% and 10.2% for new properties and 8% and 7.2% for established properties for FY 2013-14.
With declining economic growth and an increasingly weakening Australian dollar, the issue of foreign investment in the Australian residential real estate market will not subside in the foreseeable future.
Before suggesting Chinese investors are a major factor behind declining affordability, commentators should at least consider the data.
Information on Chinese investment in Australian real estate relies on data sets which are compiled for different purposes and produce a variety of different and sometimes incompatible results. The House of Representatives Standing Committee on Economics in its 2014 Report on Foreign Investment in Residential Real Estate highlights the discrepancy between official FIRB and ABS data and concludes that detailed information on Chinese investment in Australia’s residential property markets is not available.
But based on the data we do have, Chinese investment in Australian residential real estate accounts for just 2% of the total real estate sales volume. Chinese applicants for residential real estate investment approval account for one sixth or 16% of potential foreign real estate investors. This suggests the housing and housing affordability crisis will not be solved by a clamp-down on one group of buyers.
Hans Hendrischke is professor of Chinese Business and Management at University of Sydney and can be contacted <a href="https://theconversation.com/profiles/hans-hendrischke-115034" target="_blank">here</a>.
Wei Li is lecturer, Business School at University of Sydney and can be contacted <a href="https://theconversation.com/profiles/wei-li-12212" target="_blank">here</a>.
Both are authors for The Conversation.
 
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Chinese investment in residential real estate just 2%

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CoreLogic RP Data has reported a combined capital city preliminary auction clearance rate of 72.1% for the week ending 13 September from a total of 2,615 auctions.
The weekend market indicator summary from CoreLogic RP Data found clearance rates are down from this time last year when a 72.3% clearance rate was recorded from 2,080 auctions. 
 
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Combined capital city preliminary auction clearance rate of 72.1%: CoreLogic RP Data

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New South Wales auction results for week ending Sunday 13 September show a preliminary clearance rate of 75% from 1046 scheduled auctions.
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<div class="num">According to data from realestate.com.au, 452 were sold at auction within NSW, 149 passed in and 141 sold prior to auction.</div>
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<div class="num">One standout property in the Sydney suburb of Ashfield - a two level four bedroom home at <a href="https://www.realestate.com.au/property-house-nsw-ashfield-120439509" target="_blank">45 Ormond Street which sold for $1,730,000</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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Preliminary NSW auction clearance rate of 75%: Realestate.com.au 

<html><body>Australian Property Monitors (APM) has released a list of auction results in Sydney for the Saturday September 12. <a href="https://www.homepriceguide.com.au/saturday_auction_results/Sydney.pdf" target="_blank" rel="nofollow">Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

APM's Sydney auction results for September 12

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Construction in Darwin suburbs remains unabated with incentives to first home buyers and the Real Housing for Growth investment program driving investment, according to Herron Todd White's September Month in Review.
Herron Todd White noted the high construction level of new units the CBD and suburbs Palmerston, Nightcliff, Millner, Coconut Grove and Berrimah have a mix of medium density, large complexes with ground level and two storey semi detached dwellings.
"The big shift in the unit market has been seen in the rental market. For the year to June 2015 in the inner Darwin sector,one bedroom units have reduced 9.5%, two bedroom units have reduced 12.5% and three bedroom units have reduced 16.5%," the report highlighted.
"This has certainly been a welcome relief to all tenants in the market, swinging the pendulum back to the tenant after a number of years in the landlord’s corner."
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Incentives driving Darwin property investment: Herron Todd White

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The Perth rental market has fallen considerably with the level of rental listings increasing and average weekly rental values down, according to Herron todd White's September Month in Review.
Herron Todd White noted suburbs such as Balga, Westminster and Nollamara had multiple dwelling (end unit) values fall by around 10% to 15% when compared to the same period last year. 
Rivervale, Cloverdale and Belmont have also been saturated with small walk up type developments and the oversupply issue exacerbated by apartments in the Springs Precinct.
 
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Perth multiple dwelling values fall 10% to 15%: Herron Todd White

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The top most clicked house on realestateview.com.au for the week is a rare double fronted Victorian home with heritage façade.
The property, <a href="https://www.realestateview.com.au/Real-Estate/19-withers-street-albert-park/Property-Details-buy-residential-9435552" target="_blank">19 Withers Street, Albert Park</a> is for sale 26 September through Marshall White Albert Park.
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The second most popular home, <a href="https://www.realestateview.com.au/Real-Estate/9-lauren-close-gol-gol/Property-Details-buy-residential-9403976" target="_blank">9 Lauren Close Gol Gol</a> sold for between $315,000 and $355,000. The three bedroom family home sold through Barry Plant Real Estate - Mildura.
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The third most popular listing on realestateview.com.au for the week is also in Gol Gol - <a href="https://www.realestateview.com.au/Real-Estate/151-adelaide-street-gol-gol/Property-Details-buy-residential-9443836" target="_blank">151 Adelaide Street</a>. The three bedroom with spacious backyard is on the market for between $195,000 and $225,000 through Barry Plant Real Estate - Mildura.
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The fourth most clicked house on realestateview.com.au for the week is described as a 'ripper' investment on approximately 720m2 with rear lane access. The property, <a href="https://www.realestateview.com.au/Real-Estate/19-tiltao-street-dareton/Property-Details-buy-residential-9457308" target="_blank">19 Tiltao Street Dareton</a>, NSW, is for sale through Collie &amp; Tierney First National with price expectations from between $80,000 to $105,000.
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The fifth most clicked property for sale through realestateview.com.au is also in Gol Gol, however is an entire unit block. Apartment <a href="https://www.realestateview.com.au/Real-Estate/units-1-4-24-adelaide-street-gol-gol/Property-Details-buy-residential-9447138" target="_blank">1-4/24 Adelaide Street</a> consists of 4 x 2 storey Villas each offering 2BR’s upstairs, open plan living downstairs and is on the market for between $550,000 and $580,000 through Roccisano Real Estate.
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Top five most clicked properties on the market: Realestateview.com.au

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

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GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

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One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

Joel Robinson

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

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Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

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While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

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WM Residences fills gap in Mordialloc townhouse market

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Developer GURNER™ Group has revealed $1.65 billion in residential sales nationally across the 12 months to December 2025, driven largely by the continued momentum of its Docklands wellness-focused precinct, Elysium Fields.

The sales result was generated across seven projects in Victoria and New South Wales, headlined by Elysium Fields, GURNER™’s $2.75 billion mixed-use precinct planned for Harbour Esplanade in Docklands.

The project has recorded more than $500 million in sales across the first three towers, equating to around 580 apartments sold.

The first tower, Helios, has now sold out of its 240 private residences, with GURNER™ preparing to release a premium penthouse collection comprising 15 three-bedroom penthouses in coming weeks.

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Elysium Fields is being developed on the long-held 20,000 sqm Docklands site at 208-226 Harbour Esplanade, which had remained undeveloped for more than two decades prior to GURNER™ taking over the project around four years ago.

Construction has now commenced across four towers ranging between 18 and 30 storeys, with Hamilton Marino and Maxcon appointed as builders.

Once complete, the precinct is expected to comprise around 1,100 residences, alongside retail, hospitality and public realm uses integrated throughout the site.

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Designed by Fraser &amp; Partners in collaboration with GURNER™ Design House, the project has been positioned around the developer’s broader focus on wellness-led residential living.

“We don’t sell apartments. We create a true luxury lifestyle that simply doesn’t exist elsewhere in the market today,” Founder and Executive Chairman Tim Gurner said.

“To deliver that requires an extraordinary level of detail, coordination and discipline across multiple verticals, from design and hospitality through to wellness and service.”

“We’ve always believed that living extends far beyond the physical residence. It’s about how you feel the moment you arrive, how you live day-to-day, and the ecosystem that supports that.” 
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The project’s design places a heavy focus on landscaping, wellness amenities and biophilic design principles.

Plans include around 3,700 sqm of landscaped gardens and open space throughout the precinct, alongside a retail and dining offering spanning approximately 5,000 sqm.

The broader public realm strategy centres around what GURNER™ describes as the “Path of Life”, an urban forest and landscaped pedestrian environment intended to connect the various buildings and wellness spaces across the precinct.

The apartments themselves will incorporate a range of wellness-focused inclusions, including purified air and water systems, circadian lighting, antimicrobial surfaces, and optional in-home wellness upgrades.

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Gurner said the company’s experience through its Saint Haven wellness clubs had directly informed the residential offering now being incorporated into Elysium Fields.

“We’re seeing a clear global shift toward longevity, performance and proactive health,” Gurner said.

“Our role is to deliver that in a way that feels seamless, highly private and beautifully resolved within the environments we create.”

A large component of the wellness offering is planned through the resident amenity and health facilities proposed within the precinct.

That includes plans for bathing and recovery facilities spread throughout the towers, incorporating mineral pools, saunas, steam rooms, flotation therapy, red light therapy and wellness lounges.

The developer is also seeking approvals for what it describes as a “reverse ageing medical clinic” within the precinct.

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According to project information released by the group, the proposed facility would include cryotherapy, IV infusion therapy, infrared and dry saunas, PEMF beds, MRIs, DEXA scans, brain scans and blood analysis services.

Within the first tower, Helios, residents will also have access to a dedicated amenity offering known as the Sky Private Club.

The upper 15 levels of the building will include private lounges, dining spaces, rooftop amenities and optional private wellness studios integrated within residences.

The Helios tower itself comprises 260 apartments ranging between 60 sqm and 300 sqm, including a collection of penthouses.

That includes a planned two-storey penthouse spanning around 600 sqm with uninterrupted bay views.

The Elysium Fields precinct is being delivered in partnership with Digital Harbour Holdings, a consortium that includes the Liberman family, which controls the development rights across the Docklands site.

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The sales result comes as GURNER™ continues expanding its national development pipeline beyond Victoria.

“We have a strong pipeline across Australia and are now focused on scaling into key markets including New South Wales and Queensland, while continuing to build on our Melbourne base,” Gurner said.

“We currently have more than $3 billion in the market, growing to over $5 billion by October, and expect to materially outperform last year in the 2026 calendar year.”

The result also reflects the continued strength of the upper-end apartment market in Melbourne, particularly for owner-occupier-focused product with large-scale amenity and lifestyle offerings.

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Record result anchored by the Group’s “utopian” Elysium Fields precinct – defying market headwinds in Docklands.

Elysium Fields drive Gurner to $1.65 billion in apartment sales over 2025

National Australia Bank (NAB) will fund <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera</a>, a $1 billion, 52-level luxury residential tower being developed by Central Equity in one of the Gold Coast’s most tightly held coastal locations at Northcliffe.

The project, launched recently by <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a>, one of Victoria’s largest private residential developers, comes at a time when construction funding for large residential developments has become increasingly competitive as lenders tighten exposure to the sector.

Multiplex has been appointed the builder, and construction is now underway.

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Since its first project, Central Equity has delivered more than 85 residential developments with a combined end value exceeding $8 billion.

Palmera reflects Central Equity’s growing focus on the Gold Coast luxury apartment market and continues a relationship between Central Equity and NAB that dates back to the late 1980s, when the bank funded one of Melbourne’s earliest inner-city residential towers at a time when high-rise apartment living in the CBD was largely unproven.

“NAB’s funding of Central Equity’s $36 million CBD development in the late 1980’s to the financing of the billion-dollar tower today highlights the long-term relationship between the two organisations in delivering major residential projects” said Central Equity Founder and Chairman Eddie Kutner.

He said NAB’s early support was instrumental in helping establish the company’s development model.

“When we commenced our first residential tower in the late 1980s the concept of funding off-the-plan apartments was still largely untested in Australia,” Kutner said.

“NAB recognised the opportunity early and supported the project when others were uncertain. That relationship has now continued for more than 37 years across many developments.”

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Central Equity was established in 1987 when Melbourne’s CBD and Southbank precinct were still dominated by warehouses and commercial buildings. Fewer than 100 residents lived in Southbank at the time, and large-scale residential development in the inner city was not widely considered.

Recognising changing demographics and lifestyle preferences, the company began developing high-rise residential projects designed to bring permanent residents into the city centre.

Central Equity has provided accommodation for approximately 40,000 residents across Melbourne’s CBD and Southbank, while also incorporating supporting infrastructure including essential lifestyle facilities like retail spaces, childcare facilities and neighbourhood activity centres.

Central Equity has spent many years assembling the Palmera development site on the corner of Garfield Terrace and Frederick Street in Northcliffe, creating a supersite of around 3,300 sqm.

The developer said the Palmera apartment tower reflects its long-term view of the Gold Coast as a growing and increasingly diversified economy.

[smartcode_project:default project_id=108274 project_image_fid=365768]

Supported by infrastructure including the light rail network, major road upgrades expanded education, hospital and medical facilities and continued expansion at the Gold Coast Airport with more international and domestic flights.

Positioned in the tightly held Northcliffe precinct, the 52-level tower will deliver 347 apartments, targeting buyers seeking a high-end coastal lifestyle, from downsizers to interstate investors.

Designed by Marchese Partners with interiors by DBI, Palmera has been conceived as a next-generation residential offering, featuring a collection of oversized apartments, with premium three-bedroom residences offering sweeping northern views stretching from Surfers Paradise through to Burleigh Heads.

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NAB funds $1 billion Surfers Paradise apartment development, Palmera

Two years after completing one of the newest developments in North Sydney, developer <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a> is turning its attention to the rapidly evolving St Leonards apartment market.

The developer, which completed AURA by Aqualand on North Sydney's Walker Street, has lodged plans for a 5,918 sqm site at <a href="https://www.apartments.com.au/new-apartments/33-37-herbert-street-st-leonards-nsw-2065">33-37 Herbert Street, St Leonards,</a> seeking approval for a pair of residential towers rising above a shared podium opposite Royal North Shore Hospital.

The proposal forms part of the broader transformation underway across the St Leonards-Crows Nest precinct, where former industrial and commercial sites are increasingly being redeveloped into high-density mixed-use projects tied to major transport infrastructure.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="2cc428cf-fe70-4cac-9cd5-264ad53af62c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.56%E2%80%AFAM.png?VersionId=otKSnHtbjAvAddOnovyXQMgcAwE6DMe1" />

According to the planning documents, the site sits “within the St Leonards–Crows Nest Strategic Centre, identified by the NSW Government as a key area for accommodating future jobs and housing across Sydney.”

The proposal has been designed by fjcstudio, formerly FJMT Studio, and is being progressed through the State Significant Development pathway due to its scale and affordable housing provision.

The scheme would comprise 413 apartments, including 46 affordable housing units, alongside retail and commercial uses fronting Herbert Street. The project would also include communal open space, landscaping, a swimming pool, gymnasium, children’s play areas and podium-level resident amenities.

Planning documents show the development would consist of a part-13, part-39 storey tower form positioned above a four-storey podium.

“The development comprises a unified podium that activates the street interface, and two setback towers to accommodate new housing supply while maintaining an appropriate human scale at ground level,” fjcstudio noted in its Design Report.

The northern and southern towers have been shaped to respond to the surrounding skyline while also limiting overshadowing impacts to nearby public open space, particularly Talus Reserve.

The design report said the differing tower heights were intended to “contribute to a varied skyline while responding to the surrounding built form context and solar access considerations.”

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="36da62dc-ff9e-41f2-a7e3-7be38373751c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.45%E2%80%AFAM_0.png?VersionId=Mo6Rp2r.XRLTzIfg_PEEpw8NepDH8UBs" />

The site sits directly opposite Royal North Shore Hospital and within walking distance of both St Leonards Station and the new Crows Nest Metro station.

While the site itself sits just outside the formal Crows Nest Transport Oriented Development boundary, the planning documents repeatedly reference its alignment with the broader TOD objectives reshaping the Lower North Shore.

“The site is located adjacent to St Leonards Station and in close proximity to Crows Nest Metro which is within the Crows Nest Transit Orientated Development Accelerated Precinct which has been identified by the NSW Government to support housing delivery,” the Design Verification Statement noted.

According to fjcstudio, the project has been designed to respond to the broader transition occurring across St Leonards, where increasing residential density is being concentrated around transport infrastructure and employment hubs.

“The broader precinct is undergoing significant change, with a mix of existing mid-rise buildings and newer high-density developments,” the report stated.

“Recent and approved projects indicate a consistent shift toward taller built form, typically organised as tower-and-podium typologies with more active ground levels.”

The proposal includes close to 6,000 sqm of retail and commercial space across the ground floor and podium levels, designed to create a more activated street edge along Herbert Street.

Aqualand’s plans would also introduce a landscaped podium shared between the two towers, with communal open space in the form of a podium rooftop designed to support resident interaction and improve urban greening outcomes. The scheme would also introduce pocket parks at the northern and southern ends of the site, including a landscaped area at the corner of Herbert and Ella streets designed to improve pedestrian amenity and soften the streetscape.

&nbsp;

The proposal is being progressed through the NSW Government’s Housing Delivery Authority pathway, which was introduced to accelerate housing supply across the state. The application was declared State Significant Development in April 2025 following an expression of interest process.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="faf6d97d-2671-454f-b85a-fe1c6a7be608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.49%E2%80%AFAM.png?VersionId=diVd28OBVr5.YV.7prrOz.uAanwwwm7a" />

St Leonards has been particularly active with new developments in recent weeks. Developer SP Setia’s <a href="https://www.apartments.com.au/news/nsw/first-look-sp-setia-targets-st-leonards-skyline-with-40-storey-tod-tower">plans for a new 42-storey tower</a> recently went on exhibition through the same pathway, while <a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">Stockland’s 52-storey tower proposal</a> was also recently unveiled.

Aside from the St Leonards project, which is expected to take around nine months to move through the approvals process ahead of a potential 2027 launch, Aqualand is also preparing to launch Boronia, a new apartment project in Roseville comprising around 111 apartments on Larkin Street.

The developer also has approvals in place for the next stage of the Barangaroo precinct, which will feature new residential, retail, hospitality and community uses, alongside a new metro entry across the five-hectare site.

More than 50 new retail destinations are planned for Central Barangaroo, alongside a 270-metre-long boulevard connecting Hickson Park to Nawi Cove. Together with Harbour Park, more than 50 per cent of the precinct will comprise public open space and parkland.

Michael Crawford

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