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Leasing of the 1,650sqm Lakelands Tavern, inside the Perth's suburban Lakelands Private Estate, has been handed to CBRE Hotels.
The tavern is due for completion in 2017 and is offered on a 20-year lease with expression of interest closing Thursday September 10, 2015. 
Peet’s Lakelands Private Estate already has around 1,400 households, with another 1,000 to follow. 
CBRE Hotels’ Ryan McGinnity said with limited competition nearby, the Lakelands Tavern will be ideally positioned to take advantage of the growing residential population.
“This tavern represents an outstanding opportunity to gain a strategic footprint in one of the state’s fastest growing residential localities,” he said. 
“This new centre will capitalise on the projected growth of the Lakelands area, which is earmarked to have a population of more than 45,000 by 2021."
For more information on Lakelands Private Estate, click <a href="/expert-insights/investing/tavern-slated-for-perths-lakelands-property-development">here</a>.
 
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mick.cee-iDmgDDAmu8

Tavern slated for Perth's Lakelands property development

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A bayside two bedroom cottage in the Tasmanian suburb of White Beach has been included in SQM Research's Top Ten Most Discounted Properties Nationwide list.
The property, at <a href="https://www.domain.com.au/for-sale/41-white-beach-road-white-beach-tas-7184-2011315254" target="_blank">41 White Beach Road</a>, is built on 1067sqm of land and is for sale through local Raine &amp; Horne agents at an asking price of $159,000.
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Louis Christopher from SQM Research said Since making its market debut back in October 2010, the property has been reduced from $219,000 - $239,000 to just $159,000, a total savings of $60,000.
"It might be ranked number ten, however, it has now taken over with the longest days on the market, soon followed by 2 Rankine Street, Strathalybn."
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Bayside Tasmanian cottage makes SQM's most discounted list 

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Entrepreneur Leo Pegoli is opening an organic cafe within the grid retail centre at 567 Collins St Melbourne.
The cafe, named Pressed Lab, will take up 120sqm on a five year lease. 
It was negotiated by Colliers International’s Ben Tremellen and Georgie Cichy.
The grid is a retail outlet on the forecourt at 567 Collins Street and with 13 retail tenancies ranging from 33sqm to 121sqm. 
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Pressed Juices owner joins 567 Collins St

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Technology-related businesses and start-ups are driving the current demand for office space nationally in the sub-500sqm category, with average lease enquiries under 1,000sqm growing as a percentage of total leases as well.
According to the Second Half 2015 Research and Forecast Report from Colliers an influx of part-floor tenants are ready to come into the market as the sub-500sqm leases expire,with owners changing both leasing and development strategies as a result.
Nerida Conisbee, Colliers International national director of research said this is more a cyclical element given the long leases that large corporations typically take, however there are a number of structural issues also occurring. 
"The first is that there has been significant growth in small-to-medium size enterprises looking for space," she said.
“Average lease enquiry levels in the sub-1,000sqm category have grown as a percentage of total leases. In 2009, it amounted to 71% of total deals. This has grown consistently to currently account for 83%.
“We expect to see a wave of part-floor users enter the market over the next two years as a large number of these leases expire. The number is expected to be much higher than single floor and multi floor users over the next two years. We therefore expect that it will not just be new tenants entering the market that are after smaller tenancies, but also existing users looking for new space.”
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Simon Hunt, Colliers International managing director of office leasing, said Investa recently leased a whole floor at 120 Collins Street and are looking into splitting a further floor.
“Our latest Colliers International Demand Index found 55% of the companies wanting office space in Sydney alone this year have sought less than 500sqm, and this is being experienced across the board for premium, A and B Grade tenancies,” he said.
"Tenants were continuing to place a greater focus on location. In both the Sydney and Melbourne CBDs there is a current centralisation of tenants taking place.
“In Sydney CBD, the differential is not as significant however we are seeing even greater movement of tenants from metro markets… historically, Melbourne CBD has not had much movement of tenants between CBD and metro locations with most tenants preferring to stay in either location. This has changed over the past 12 months, where the cost of being based in the Melbourne CBD has dropped significantly compared to metropolitan markets.”
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Start-ups, tech companies driving sub-500sqm office demand: Colliers

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Strata office vacancy on the Gold Coast is currently at a seven year low of 14.8% partly due to increased investment into city and local infrastructure by both government, local and international investors.
According to Ray White's Gold Coast Office Strata Report for August, the vacancy position of the Gold Coast has been steadily improving over the past few years after the total market result peaked at 23.3% in July 2010, falling to its current low of 14.8% in July 2015.
Ray White Commercial head of research Vanessa Rader said some markets have fared better than others, with the best performer this period being Broadbeach which recorded vacancies of just 4.2%.
“The smaller markets of Surfers Paradise, Broadbeach and Bundall have had more varying results pending quality, size and location of stock. Southport has been a steady performer with vacancy flat over the last 18 months, currently 14.0% which is still well below the 22.3% recorded in July 2010,” Rader said.
“Varsity Lakes/Robina experienced a dramatic drop in vacancies from 28.7% during January 2010 to its current low of 8.6%. This market, however, is home to modern accommodation which is in greater demand compared to the secondary accommodation in much of the Gold Coast."
According to Ray White Commercial Gold Coast team leader Steven King said the first half of 2015 has resulted in some strong improvement in capital values with all markets showing some upward momentum as the local economic indicators recover.
“Current average values have shown some rebound to $3,450 per sqm after dipping to the low of $2,640 per sqm in 2012; though this is still well behind the highs achieved pre GFC which averaged $5,390 per sqm,” he said.
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Gold Coast office rental market at seven year low

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The number of rental property vacancies across New South Wales fell 0.2% to 1.9% in July, according to the REINSW.
The July 2015 REINSW Vacancy Rate Survey found falls in Inner Sydney saw of 0.5 per cent to 2.1%, Middle Sydney fell 0.2% to 1.7% and Outer Sydney fell 0.1% to 1.6%.
REINSW President Malcolm Gunning said despite the 0.2% decline month on month a strong stream of property on the market starting to feed the migration into Sydney.
“Supply is still strong,” Gunning said. 
“Vacancy rates remain close to 2.0 per cent which shows that supply is starting to meet demand.
“Outer Sydney has hit levels last seen in December 2014.
Illawarra vacancy rates dropped 0.5% to 1.7%, Wollongong down 1.0% to 1.4%. Vacancies rose in the Hunter region 0.2 per cent to 3.7%, New England climbed 1.2% to 4.6% and Orana increased to 4.0%. 
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NSW rental property vacancies slide: REINSW

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New listings have increased steadily over the past four months, with 26,000 new homes listed in the capital cities each month.
CoreLogic RP Data's Property Pulse for the four weeks ending July 19th tipped an escalation in listings over the next few weeks, typical in the second week of August.
Capital city listings are now 13.2% higher than this time last year, high new listings up 9.7%
According to CoreLogic RP Data, the most significant boost in new listing numbers is coming from the most buoyant housing markets, Sydney (+20.1%) and Melbourne (+19.2%) while the softer housing markets are seeing new listing numbers substantially lower than a year ago.
"The opposite is true for the total number of properties being advertised for sale, with total listings in Sydney, Melbourne, Brisbane, Hobart and Canberra lower compared with a year ago indicating a higher rate of absorption than the weaker markets of Perth, Darwin and Adelaide where total listings are up on last year," the report noted.
"At a combined capital city level, total advertised stock levels are virtually level with the same time last year (-0.4%) while nationally total stock levels are 1.8% lower than a year ago."
 
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Property listings increase on the horizon: CoreLogic RP Data 

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Mid-range three to four bedroom home builds around Melbourne's western fringe suburbs of Point Cook, Tarneit, Wyndham Vale and Williams Landing on 150sqm are going for around $1,000 to $1,250sqm, according to Herron Todd White.
In the August Month in Review, HTW gave the example of a home in Tarniet, built in 2008 on 162sqm, that sold in June for $365,000 as a recent example.
Construction rates for the high end prestige sector range from $3,500 to $5,500 per square metre and are "a significant rise from the 2009 report figures of $2,500 to $3,000, indicative of the labour intensity of such builds" the report states.
A recent high-end construction in <a href="/news">Balwyn North</a> with five bedrooms, European oak parquetry, and views on a land area of 828 square metres is worth approximately $4,132 per square metre. It sold recently for $4,428,000.
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Balwyn North noted for new Victorian prestige builds: HTW

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First home buyers across Brisbane are competing with investors and owner occupiers to develop new homes, with suburbs such as Springfield Lakes, Leichardt and Mango Hill seeing strong demand from all three types of investor.
According to Herron Todd White's August month in review, building grant incentives for first home buyers are driving them into the home building market in other suburbs such as <a href="/news">Murrumba Downs</a>, Brassall, North Lakes and Dakabin.
The report noted the differences between building in 2009 and now.
"Nowadays you’re looking at between $900 and $1,100sqm and on smaller lots, tinier homes are being built and that sees the rate per metre rise. These courtyard style dwellings can cost as much as $1,200 to $1,300," the report stated.
"For this money, expect laminate cabinetry, Caesarstone bench tops in the kitchen, one light bulb to each room, limited power points and split system air conditioning to the living room only. Outside there’ll be a driveway and fencing, but possibly no landscaping. 
 
"Step up a little further and you’ve got stone bench tops, air conditioning throughout, high ceilings and quality finishes. These homes were costing $1,100 to $1,300 per square metre in 2009 and that price is still about the same in 2015. Another $200 per square metre would get you ducted air-conditioning instead of a split system and a higher standard of appliances and finishes. 
 
"A nice contemporary home with a bit of flair is going to come in at around $2,200 to $3,300 per square metre in 2009, and once again, not much has changed since then."
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Brisbane first home buyers jostling to develop new homes: HTW

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The Outer South West region of Sydney had a preliminary clearance rate of 100% from 22 total auctions, according to CoreLogic RP Data's Property Market Indicator Summary.
In the Eastern Suburbs, 105 properties went to auction -  a clearance rate of 80.5%.
 
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Outer Sydney suburb nets 100% preliminary clearance rate: CoreLogic RP Data Sydney breakdown

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.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

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.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

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.

[smartcode_project:default project_id=134646 project_image_fid=6110]

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.

[smartcode_project:default project_id=134646 project_image_fid=6116]

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

&nbsp;

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.

[smartcode_project:default project_id=144441 project_image_fid=370975]

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.

[smartcode_project:default project_id=144441 project_image_fid=370981]

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.” 
[smartcode_project:default project_id=144441 project_image_fid=370977]

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.

[smartcode_project:default project_id=144441 project_image_fid=370980]

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.

[smartcode_project:default project_id=144441 project_image_fid=370978]

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.

[smartcode_project:default project_id=144441 project_image_fid=370979]

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.

[smartcode_project:default project_id=108274 project_image_fid=365784]

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.”

[smartcode_project:default project_id=108274 project_image_fid=365771]

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.

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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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