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Following the demand of the first release of apartments and townhomes in the harbourfront estate Spring Cove, the second release of 17 luxury homes has been fast tracked.
Located in Manly, the 2.7-hectare estate by Denwold Group and Oakstand Property Group released the first stage of 16 two- and three-bedroom apartments and five two-storey townhomes off the plan in September.
Purchasers from the local Sydney market snapped up 19 properties, with only two town homes remaining.
Apartments were priced from $1.85 million to $3.5 million and the town homes were priced from $2.95 million to $3.2 million.
“We are thrilled with the strong interest from high end local Sydney buyers and subsequent sales results, which are testament to Spring Cove’s extraordinary locale and seamless integration with the surrounding area,” says David Cullen managing director of Oakstand Property Group
The second stage comprises of 17 luxury homes priced from $4.5 million to $6 million.
Internal areas range between 271 square metres to 391 square metres and feature under-floor heating, stone floors and miele appliances.
The <a target="_blank" href="https://springcove.com.au/overview.php">Spring Cove estate</a> is located in one of the last remaining parcels of untouched harbourfront land in Sydney.
“Manly is an iconic Sydney location with a community of family oriented beach lovers and surfers,” says Cullen.
“Locals can embrace the peace and serenity, enjoy the varied lifestyle amenities of vibrant Manly, and easily commute to the CBD on ferry - all of which are strong attributes that are driving buyers to purchase in the area.
“Spring Cove is a once in a lifetime opportunity to live in a unique and luxurious coastal community overlooking the world-renowned and highly-coveted Sydney Harbour,“ says Cullen.
The team behind Spring Cove has taken a “minimum intervention” approach to ensure the estate integrates within the ecosystem without upsetting its balance.
Spring Cove Estate was originally part of the Catholic Archbishop’s residence, which was built in 1886.
The median house price in <a target="_blank" href="/news">Manly</a> is $1.72 million, a 16.2% change in the past five years, according to RP Data.
The median apartment price in Manly is $760,000, a 17.8% change in the past five years, according to RP Data.
ntrotman@propertyobserver.com.au
 
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For the latest development listings, brought to you by Property Observer and partners, see our <a rel="nofollow" href="https://showcase.propertyobserver.com.au/11/3/skye-by-crown">Investor Showcase</a>.
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ntrotman-Et3xWpamVh

Manly estate fast tracks 17 luxury homes following buyer demand

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Sometimes it’s nice to escape reality for a while and have a peek into the lives of others, particularly those who can afford a four level penthouse. Take a break from whatever you’re doing for a moment, pretend your bank account has been injected with a lump sum and lets go penthouse shopping.
First on the list is a six-bedroom, six-bathroom, four-level penthouse on Main Beach in Queensland (pictured below). We should just make one thing clear, this is not an apartment, it’s a house high up in the sky on the 30th level, and that’s evident by the three kitchens available on various levels. In case one kitchen wasn’t enough, you get three to choose from!
While you’re waiting for your Sunday roast to cook, you could fit in a quick session in your own gymnasium and then have a dip in your own private covered pool. Your dinner guests will arrive in your private elevator and be welcomed with floor to ceiling glass windows and six-metre high ceilings in the formal living area. If this sounds like your dream home, it’s <a href="https://www.realestate.com.au/property-apartment-qld-main+beach-114318775" target="_blank">listed</a> through Faye Tyson and Alex Caraco of Coldwell Banker GC Property Group for around $9 million.
{yoogallery src=[images/stories/2013/11/20/main]}
 
We’re now down in North Sydney in the Skye by Crown development on the Pacific Highway (pictured below). There are a few of these bad boy apartments up for grabs so you’ll have to share your title of owning a Skye by Crown penthouse with others. They comprise of three bedrooms, two bathrooms and boast European appliances and stone bench tops in the kitchens. One of <a href="https://www.realestate.com.au/property-apartment-nsw-north+sydney-112454363" target="_blank">these </a>could be yours for $2,755,000.
{yoogallery src=[images/stories/2013/11/20/north]}
 
The Watergate penthouse in Docklands (pictured below) could be yours for $3.95 million. This too, is steering away from the apartment title with five bedrooms and four bathrooms over two floors. Who needs a front yard when you have an outdoor terrace that wraps around the whole apartment? If it gets a bit cold up in the sky, you can always retreat back inside and gaze out your floor to ceiling windows that encapsulates the same view as outdoors. This one’s a bit jazzy, it not only features Arabescato marble in the ensuites, it also boasts French limestone from Paris, oui! Anton Wongtrakun of Dingle Partners has the <a href="https://www.realestate.com.au/property-apartment-vic-docklands-113721615" target="_blank">listing</a>.
{yoogallery src=[images/stories/2013/11/20/dock]}
 
This Port Melbourne penthouse (pictured below) takes the cake for house in the sky with six bedrooms and seven bathrooms. It’s advertised as being a “window on the world” with centre stage views across the beach, Port Phillip Bay and the city. This penthouse has used extensive use of glass and metal and it set over three levels. If you enjoy holding parties, this one may be for you – the rooftop retreat has been fully landscaped and outfitted to accommodate private gatherings or a hundred VIPs, yes – very important persons. It’s <a href="https://www.realestate.com.au/property-apartment-vic-port+melbourne-113047575" target="_blank">listed</a> with Ross Savas and Alex Schiavo of Kay and Burton Bayside.
{yoogallery src=[images/stories/2013/11/20/port]}
 
Last but not least, if you don’t mind your ears popping on the way home every night as you fly up the elevator to the 84th floor, this Southbank one could be for you. Located in the Eureka Tower and occupying the entire 84th floor, this 660-square-metre home (pictured below) features four bedrooms and four bathrooms. Once the elevator doors open, you’ll be graced with a private marble lobby and 360 degree views of the beautiful city, Melbourne. Your four-legged friend will be happy here, although there isn’t a back yard, the 24-hour concierge offers dog walking. After winding down at the fully fitted onyx bar, you have access to the resident’s only indoor pool, cinema and sun terrace. Greg Herman and Bonnie Wang of Melbourne Sotheby’s International Realty Toorak have the <a href="https://www.realestate.com.au/property-apartment-vic-southbank-114880895" target="_blank">listing</a>, with a price guide around $19 million.
{yoogallery src=[images/stories/2013/11/20/south]}
 
 
<img alt="poll-reswults-nov-21" height="286" width="342" src="/images/stories/2013/11/22/poll-reswults-nov-21.gif"> 
<a target="_blank" href="mailto:ntrotman@propertyobserver.com.au">ntrotman@propertyobserver.com.au</a>
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A peek inside some of the nation's most luxurious penthouses

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Scope Property Group has entered its investors into the Fremantle commercial property market with the purchase of Craig Mostyn House for $6.5 million.
Located at 6 Short Street, the property features dual street frontages and will undergo a $1 million cosmetic uplift and refurbishment.
<img alt="1" height="353" width="470" src="/images/stories/2013/11/20/1.jpg">
“We are very selective about the properties we purchase,” says Scope Property Group director Robert Englehard.
“We only syndicate properties where we can substantially de-risk the asset whilst also providing our investors with strong income returns coupled with future capital grow, and we believe that Short Street exhibits both of these.
“The anchor tenant Craig Mostyn &amp; Co Pty Ltd secures income for our investors for the next eight years and we remain confident that the remaining vacant space will be taken up by the market in coming months that will further enhance this income.
“In this instance, we are going to spend around $1 million dollars on cosmetic refurbishment to enhance the appeal of the building and attract new tenants,” says Englehard.
<img alt="3" height="353" width="470" src="/images/stories/2013/11/20/3.jpg">
Englehard says Scope’s investor base continues to grow, with the syndicate being substantially oversubscribed in just two and a half days.
The Craig Mostyn House has a combined land holding of 2,308 square metres across four titles.
<a target="_blank" href="mailto:ntrotman@propertyobserver.com.au">ntrotman@propertyobserver.com.au</a>
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Scope Property Group adds Fremantle to its syndicate

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There is still uncertainty about the future of residential construction but the vibe is improving, with the recovery in new dwelling commencements driven by two states, New South Wales and Western Australia, according to the Housing Industry Association.
New dwelling commencements increased by 11% in 2012/2013m with dwelling commencements increasing in New South Wales and Western Australia by 31%, accumulating for most of the growth.
HIA says the slight increase in dwelling commencements follows two consecutive years of decline.
There are a range of variables affecting new home building and renovation, including significant increase in taxation and regulatory burden on new home building over the last 15 years, tight credit conditions and the largest household deleveraging process Australian households have undertaken in many decades.
Dwelling commencements in Western Australia reached 24,052 in the last financial year. Excluding 2009/2010, HIA says this is the highest level of commencements since 2006/2007.
New South Wales dwelling commencements grew by 29% in the last financial year to 39,715 – the highest level reached since 2003/2004.
HIA says building approval figures for the September 2013 quarter signal further upward momentum in dwelling commencements for both Western Australia and New South Wales.
During the September quarter, Western Australia increased by 7.7% and New South Wales increased by 25.2%.
However, HIA says dwelling commencements look set to be largely flat in the short term with little over 160,000, with Victoria continuing to decline, but will slowly recover to around 170,000 by 2016/2017.
Victoria dwelling commencements are forecast to decline by 17.5% to 41,630 in 2013/2014, driven primarily by a 33.3% fall in other dwelling commencements.
Queensland and South Australia are forecast to gather momentum and drive the modest increase in dwelling commencements in 2014/2015.
HIA says meeting the future housing requirements of Australia’s population will require a minimum 180,000 new dwelling commencements per annum over the coming decades.
 
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Residential construction vibe improving: HIA

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One of the largest residential development opportunities in the metropolitan area in more than two years is on the market for $10 million plus.
The 13,330-square-metre Bundoora site at 1091 Plenty Road holds a permit for 361 apartments across six towers – ranging in height from three to eight levels.
The site also offers more than 1,000 square metres of commercial and retail space.
“Located within one of the fastest growth corridors in Australia and positioned between La Trobe and RMIT universities, the site is set to become the cornerstone of Bundoora, playing a pivotal role in the surrounding area’s future development,” says Jamus Campbell of CBRE.
“With over 180 degrees of frontage to Bundoora Park, the residential component of this development will benefit from a luscious leafy outlook, whilst still being in the heart of metropolitan Melbourne,” says Campbell.
Scott Orchard of CBRE says by releasing the residential aspect of the project in stages, the development can be paced according to sales demand.
The site has been reported about <a target="_blank" href="https://blogs.crikey.com.au/theurbanist/2012/05/31/do-existing-residents-see-the-benefits-of-urban-renewal/">in the media</a> numerous times, with some 600 Bundoora residents opposing the development proposal.
Opposing parties argued the development is out of character with the low-density suburban nature of the area and will impose too much additional traffic on Plenty Road.
The first proposal for the site - designed by Cornetta Partners Architects - was unanimously rejected by the local council.
A revised plan was put to Darebin City Council, this time designed by Peddle Thorp Architects and features mid-rise towers.
The site is marketed as an expression of interest campaign closing December 4 through Jamus Campbell, Scott Orchard and Mark Wizel of CBRE.
 
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Controversial Plenty Road, Bundoora development site listed

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The first major residential tower to be built in Liverpool will be known as The Point, a $49 million development
Located on Gillespie Street, The Point will feature 120 apartments over 12 floors and a supermarket on the ground floor.
The Point has been architecturally designed by DWA and features interiors by Quattro.
Sam Elbanna project manager and head of CPM Realty says the team is bringing inner city glamour to Liverpool.
“People are looking for the luxury style with a budget price.
“We are working on The Point because we want to be at the forefront of innovation and be at the forefront of the change I know is going to happen,” says Elbanna.
The Point features one-, two- and three-bedroom apartments with prices from $256,000 to $375,000 and size ranges from 55 square metres to 145 square metres.
The development is expected to attract a solid mix of seasoned investors, mum and dad investors, as well as first time buyers.
The median apartment price in <a target="_blank" href="/news">Liverpool</a> is $278,500, a 37.5% change in the past five years, according to RP Data.
The median apartment rent is $325, reflecting a rental yield of 6.1%.
The Point will officially launch to the public on November 30.
Construction is scheduled to commence in February 2014 and has an expected completion date of mid-2015.
ntrotman@propertyobserver.com.au
 
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 For the latest development listings, brought to you by Property Observer and partners, see our <a rel="nofollow" href="https://showcase.propertyobserver.com.au/11/3/skye-by-crown">Investor Showcase</a>.
 
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Liverpool to welcome first major residential tower The Point

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Cash was splashed in Sydney's prestige suburb Bellevue Hill over the weekend, with two properties taking out this week's most expensive sales, according to RP Data.
A five-bedroom Hampton-style home known as Willowbrook in Bellevue Hill is this week’s most expensive sale, selling prior to auction for $12 million.
Located on Kulgoa Road, the circa 1930 classic Georgian home (pictured below) last traded in 2007 for $5.75 million and underwent a transformation in 2009.
Property Observer <a target="_blank" href="https://www.propertyobserver.com.au/news/willowbank-bellevue-hill-weekend-trophy-home-sale-will-assist-flagging-median/2013111766403">reported yesterday</a> that the Kulgoa Road vendor was Mark Greig, son of the late cricket commentator Tony Greig, and his wife, Angela Roche.
{yoogallery src=[images/stories/2013/11/18/bell]}
Willowbrook was reinvented by architects Lawton Hurley and features interiors by Lynda Kerry and landscaping by William Dangar.
Situated on 858 square metres, Willowbrook boasts double height ceilings, travertine, glass and oak throughout and a mosaic pool accompanied by a pool house with a travertine ensuite.
The home also boasts balconies, decking, terraces, parterre garden, eight bathrooms and a home theatre.
Willowbrook was listed for $9 million plus through James McCowan and Kathleen Manns of Sydney <a target="_blank" href="https://www.sothebysrealty.com/eng/sales/detail/180-l-2507-21308567/2-kulgoa-road-bellevue-hill-bellevue-hill-sw">Sotheby’s International Realty</a>.
Meanwhile, a four-bedroom 1970’s home on Victoria Road sold under the hammer for $4.5 million.
The newly renovated home (pictured below) features high ceilings, Italian limestone-look floors, two wine cellars and three bathrooms.
{yoogallery src=[images/stories/2013/11/19/bell]}
Situated on 677 square metres, the property last traded in September 2001 for $2,615,000 and was listed for rent in 2009 for $1,800 per week.
Former Olympic spin doctor Glen-Marie Frost tenanted the home prior to it selling in 2001.
Catherine Dixon and Louise Snowden of <a href="https://www.dijones.com.au/1118317/" target="_blank">Di Jones Real Estate Woollahra</a> held the listing.
The median house price in <a target="_blank" href="/news">Bellevue Hill</a> is $3.15 million, a 6% decline in the past five years, according to RP Data.
{module Which of these two Bellevue Hill sales is your favourite?}
 
Most expensive sales:
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-units/2_kulgoa_road_bellevue_hill_nsw_2023/1369552">2 Kulgoa Road, Bellevue Hill, NSW, 2023,</a> five-bedroom house, sold prior to auction on November 16 by Sydney Sotheby's International Realty for $12 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/125a_victoria_road_bellevue_hill_nsw_2023/1370884">125a Victoria Road, Bellevue Hill, NSW, 2023,</a> four-bedroom house, sold on November 12 by Di Jones Real Estate Woollahra for $4.5 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/50_fellows_street_kew_vic_3101/11351677">50 Fellows Street, Kew, VIC, 3101,</a> four-bedroom house, sold at auction on November 16 by Jellis Craig Hawthorn for $4.1 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/22_wallis_avenue_strathfield_nsw_2135/6496671">22 Wallis Avenue, Strathfield, NSW, 2135,</a> five-bedroom house, sold at auction on November 16 by Georges Ellis &amp; Co for $3.276 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/12_monash_avenue_balwyn_vic_3103/9564087">12 Monash Avenue, Balwyn, VIC, 3103,</a> five-bedroom house, sold prior to auction on November 16 by RT Edgar Toorak for $3.26 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/46_macfarlan_street_south_yarra_vic_3141/13139421">46 Macfarlan Street, South Yarra, VIC, 3141,</a> three-bedroom house, sold at auction on November 16 by Marshall White Armadale for $3.2 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/48_torrington_road_maroubra_nsw_2035/4051729">48 Torrington Road, Maroubra, NSW, 2035,</a> five-bedroom house, sold at auction on November 16 by N G Farah Kingsford for $3.115 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/7_neeworra_road_northbridge_nsw_2063/5070715">7 Neeworra Road, Northbridge, NSW, 2063,</a> four-bedroom house, sold prior to auction on November 16 by Richardson &amp; Wrench Northbridge for $3.06 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/608/63_hall_street_bondi_beach_nsw_2026/16439805">608/63 Hall Street, Bondi Beach, NSW, 2026,</a> three-bedroom unit, sold at auction on November 14 by Raine &amp; Horne Double Bay for $2.9 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/22_mangarra_road_canterbury_vic_3126/10256848">22 Mangarra Road, Canterbury, VIC, 3126,</a> five-bedroom house, sold at auction on November 16 by Jellis Craig Hawthorn for $2.83 million
ntrotman@propertyobserver.com.au
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Over $16 million splashed as ritzy Bellevue Hill takes this weekend's most expensive sales quinella: RP Data

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Motus Property’s Regatta Apartments in the Rivervale urban renewal project The Springs is proving to be popular with some 40% of apartments snapped up.
The boutique development of only 22 apartments comprises of a range of one-, two- and three-bedroom apartments across five levels.
Remaining two-bedroom apartments are priced from $540,000 to $580,000 and range in size from 73 square metres to 86 square metres internally.
“Regatta will really focus on lifestyle, with large internal living areas, a special area for storing canoes and kayaks and also a bicycle repair and maintenance space,” says Motus director Peter Jodrell.
“A glass faced lift will let residents always feel connected to their surroundings.
“We have also designed it to the adaptable housing guidelines with very few steps, wide doors and large rooms so that as residents age or if they become immobilized, the spaces can still accommodate them,” says Jodrell.
Apartments will feature Travertine tiling in the bathroom, Miele kitchen appliances and high ceilings.
Regatta Apartments are located within Landcorp’s The Springs, a large tract of riverfront land at the junction of the Great Eastern Highway and the Graham Farmer Freeway.
The Springs will provide a range of medium to high density residential developments and a mix of commercial sites and tenancies.
“The development is close to parks, the river, public transport and a wide range of shopping and lifestyle options, including the Crown complex as well as the new planned Perth Stadium,” says Knight Frank selling agent Neha Shah.
“Just six kilometres away from the Perth CBD, The Springs will have plenty of public open spaces, created for office workers and residents and it will all be linked to the city by cycle and walking paths,” says Shah.
Regatta Apartments has a scheduled completion date of end of 2014, early 2015.
The median apartment price in <a target="_blank" href="/news">Rivervale</a> is $440,000, a 35.4% change in the past five years, according to RP Data.
ntrotman@propertyobserver.com.au
 
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For the latest development listings, brought to you by Property Observer and partners, see our <a href="https://showcase.propertyobserver.com.au/11/3/skye-by-crown" rel="nofollow">Investor Showcase</a>.
Images are artist impressions.
 
 
 
 
 
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Boutique Regatta Apartments secures 40% in sales

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According to data released by the ABS earlier this week, the amount of loans financed to first home buyers in September recorded a new low at only 12.48%.
This week’s exclusive piece is putting the spotlight on this data and whether or not it’s a true reflection of what’s going on in the market.
Many property forums are arguing that first home buyers are no longer ticking the first home buyers box, and therefore skewing the statistics.
Todd Hunter of wHeregroup says he would like to know who came up with this data and where it came from on his latest <a target="_blank" href="https://www.wheregroup.com.au/blog/are-they-are-they-really/">blogpost.</a>
Professionals active in the property sphere were asked the following question.
Do you agree with the first home buyer statistics? Why or why not?
 
 
Paul Biller – Principal of <a href="https://www.1stcity.com.au/" target="_blank">1st City Hasemer &amp; Caldwell-Eyles<img src="/images/stories/2013/11/15/biller-profile.jpg" alt="biller-profile" style="float: right;" height="200" width="150"></a>
FHB LEVELS PLUNGED SINCE THE GOVERNMENT REPLACED FHB GRANTS WITH INCENTIVES
Yes, I agree with these statistics. There is no benefit to a first home buyer no longer ticking the first home buyer box.
Australia’s housing market is experiencing its strongest run in years. Investors and changeover buyers are being drawn back to the market following interest rate cuts and the positive outlook for housing. Yet despite historically low interest rates, rising prices are raising fresh concerns about housing affordability for first home buyers. Just one-in-eight borrowers were first home buyers in September - the lowest proportion in more than two decades.
First home buyer levels have plunged recently in some states by more than 10% since the government replaced first home owner grants with incentives to buy only brand new properties, however the bulk of first home buyers are still buying established dwellings because they are more affordable.
When the government announces it is putting an end to an incentive and telegraphs it, a lot of home buyers bring their plans forward. The result of the rush to get in before October 2012 means that many buyers who would have been in the market now, purchased last year instead. As a result of the new policies, the Australian Bureau of Statistics shows that first home buyers are becoming scarcer. There is too much competition with investors who are looking at the same properties and taking the opportunity to borrow with the lowest interest rates in 50 years and with a shortage of rental accommodation pushing up yields.
Other factors include stamp duty and the size of deposit required and ability to save for it. While monthly mortgages were becoming more affordable, first home buyers were struggling to put down a deposit as property prices continue to rise.
 
Jessica Darnbrough - Spokesperson for <a href="https://www.mortgagechoice.com.au/?" target="_blank">Mortgage Choice</a><img src="/images/stories/2013/11/15/jessica.darnborough-profile-2.jpg" alt="jessica.darnborough-profile-2" style="float: right;" height="200" width="150">
ABS STATISTICS COULD BE SIGNIFICANTLY LOWER THAN WHAT IS HAPPENING IN REALITY
 
The data from the Australian Bureau of Statistics is as true as it can be. The Australian Bureau of Statistics report on the data that is available to them.
That said, today, some of the states have removed the first home owners grant for established dwellings. As a result, many first home buyers who are purchasing existing properties do not have to declare that they are buying for the first time.
According to a recent survey by Mortgage Choice, 70.9% of recent first home owners said they had purchased an established dwelling. With this in mind, it is reasonable to assume that the first home owner numbers as reported by the Australian Bureau of Statistics could be significantly lower then what is happening in reality.
Next page: Kevin Lee and Ben Kingsley
 
 
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Kevin Lee - Buyers agent at <a href="https://www.smartpropertyadviser.com.au/?" target="_blank">Smart Property Adviser</a>
<img src="/images/stories/2013/11/15/kevin-lee-profiel.jpg" alt="kevin-lee-profiel" style="float: right;" height="200" width="150">
FORGET THE 12.48% - WHO, WHAT, WHERE AND WERE THE OTHER 87.52%?
It never ceases to amaze me that first home buyers regularly receive a disproportionate amount of media and government attention when compared to the actual percentage of the total property market that they account for.
Could I be so bold as to suggest that this group is a 'political football' and therefore the recipient of so much government 'spin'. But they will never, ever save the country - how can they?
Forget the 12.48% who bought their first property - who, what, where… were the other 87.52%?
That's the number one question our politicians, policy makers, bureaucrats and property professionals should be focused on. With the right assistance/incentives this second group could (and should) have a much larger impact on the Australian economy.
However all the press is devoted to the precious few home buyers who are having their first go at becoming a rate payer. Weird isn't it!
By definition, most of this 12.48% won't do much for the next six or seven years. Sure they'll struggle to make their monthly repayments, buy some furniture, have a kid or two, maybe buy a new car, and send their kids to schools in the area.
Don't try to tell me that the other 87% of purchasers don't contribute in the same way?
It matters nought whether the purchaser is an owner occupier or investor - the end result is always the same.
Whether you purchase a property to live in yourself - or for someone else to live in - there's still a household to be formed, things to buy, kids to go to school, and people who will live a life there.
Let's face it, governments devoid of any real ideas, balls or brains created incentives for a minority group to stop renting and purchase their own home. First home owner grants of $7,000, then $10,000 then $14,000 ... but wait there's more. Buy now and we'll also throw in free stamp duty - in NSW that's a potential saving of another $23,000.
So the government spends millions of dollars to entice maybe 100,000 extra people to join this minority group. Why? Because this is what financially un-educated people do.
Smart people - those people with a financial education - set goals and take the necessary action to reach those goals. They get other people to pay off their debt for them.
Little do these bureaucrats know that many savvy first time buyers were in fact buying their first investment property, all they had to do was comply with the rules and live in the property for a very short period.
If these bureaucrats had any clue, they would incentivise all people who are trading up or down by removing (or at least reducing) the two most insidious taxes ever created: stamp duty and land tax. The average Sydney couple buying a modest home or investment property for $700,000 pays just over $27,000 NSW stamp duty for the privilege.
That's equivalent to furnishing that property, a pretty special holiday or a whole mouth full of dental work. Our economy would be so much stronger if that $27,000 was spent on goods and services for the individual, instead of employing another pencil pusher.
They were supposed to eliminate those state based taxes with the introduction of the GST, but our governments are like heroin addicts - their addiction to the tax is on the same level; they will do anything to get it and just can't give it up.
 
Ben Kingsley – Chair of <a href="https://www.pipa.asn.au/%E2%80%8E" target="_blank">Property Investment Professionals of Australia</a> (PIPA)<img src="/images/stories/2013/11/15/ben-kingsley-profiel.jpg" alt="ben-kingsley-profiel" style="float: right;" height="200" width="150">
THIS DATA IS NOW OVER SIX WEEKS OLD AND THE MARKET FOR FHB IS ON THE IMPROVE
I see no beneficial reason or hidden agenda by the ABS to alter the statistical reporting of this data.  The ABS do a great job in capturing and reporting this data on a monthly basis and have done so for many years now.  This housing finance series attempts to enumerate all providers in its scope of collecting this data and in the early 2000s the collection of this data was handed over the Australian Prudential Regulatory Authority (APRA), so the coherency and consistency of the data has remained robust over this period. The claims that first home buyer borrowers are choosing not to report their status as first home buyers on their loan applications to lenders doesn't make sense to me.  First home buyers have access to grants and/or incentive scheme across each state and territory at the moment, and lenders are heavily involved in the implementation of these grant and incentive as part of the lending application process, so first home buyers are almost certainly known to lenders and reported as such in this data in my view. Within our business in Melbourne, our observations of the soft activity by first timers in the market and also the number of first home buyers we are arranging finance and providing buyers agency services for supports this September reading.  However we need to recognise this data is now over six week old and the market for first home buyers in definitely on the improve and I'd expect this number will be the bottom of this cycle for first home buyers and the remainder of the year we will see an improve and 2014 I see even further growth in first home over grant numbers active in the market.
Nest page: Todd Hunter and Andrew Wilson 
 
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Todd Hunter - Director at <a href="https://www.wheregroup.com.au/%E2%80%8E" target="_blank">wHeregroup</a><img src="/images/stories/2013/11/01/todd-hunter-profile-2.png" alt="todd-hunter-profile-2" style="float: right;" height="171" width="144">
THERE IS NO WAY TO ACTUALLY GAUGE WHO IS A FIRST HOME BUYER AND WHO IS NOT

It’s being bantered all over the press everywhere, the property market has out priced first home buyers and they have magically disappeared from the market place. They are gone and don’t look to return anytime soon. Are they?
 
I personally would like to know who came up with this data and where it came from. In New South Wales since the first home owners grant and the stamp duty concession was abolished, with the exception for new properties, there is no way to actually gauge who is a first home buyer and who is not. There are no forms to fill in, no boxes to tick on the loan application form, no sections to fill in on the land transfer. So I ask, how do they know this?
 
It sounds like some fancy media or marketing hype that someone has conjured up and now the media herds are running with it like no tomorrow. For those who have ever dealt with the wHeregroup, you would have had contact with one or both Rebecca’s. Well Rebecca - my personal assistant - has recently purchased her first unit. Now this unit was in the Sutherland Shire but was not new. Rebecca wanted to live in the Shire so rather than buy a new house and land package in the western suburbs, where there is available land, she opted to pay the stamp duty and live where she wanted to live. As the $7,000 grant is no longer available, her transaction went through undetectable as a first home purchase. In the past I have exposed inaccuracies in the stats and supposed property indexes. I wrote a <a href="https://www.wheregroup.com.au/blog/the-median-measurement-is-misaligned/" target="_blank">blog</a> on the median house price and how the figures can be easily skewiff.
 
Well it appears that this fictional statistic has also been skewiff, and it’s such an easy fix. All we need is a box ticked on the land transfer so the type of purchaser can be calculated correctly.
 
I do agree, however, that it is becoming increasingly more difficult to first home owners to get into the market; especially in the Australia’s capital cities, but come on lets not over exaggerate things, lets find solutions. It may mean that first home buyers may need to take a different tact in investing in property, whereas they may have to buy a cheaper investment property or two in large regional areas where house prices are still around the $300,000 – $350,000 mark and increase their wealth in those properties. So that when they sell they have a much larger deposit for their home. As the game changes so must your game plan. But one thing’s for sure, what we certainly don’t need is a whole bunch of negative inaccurate hype deterring our future generation from buying property.
These comments originally appeared on Todd Hunter's blog.
 
Dr Andrew Wilson - Senior Economist for Australian Property Monitors
Latest ABS data seems to indicate increased underlying barriers to home ownership <img src="/images/stories/2013/10/04/AndrewWilson-profile.jpg" alt="AndrewWilson-profile" style="float: right;" height="150" width="125">
trengthening housing markets and rising prices can be bad news for first home buyers waiting in the home ownership queue.
With prices rising faster than savings this can lengthen the queuing duration for first home buyers or alternatively necessitates revised property type and location choices.
Increased investor activity can also be a barrier for first home buyers as these groups tend to compete with each other for similar properties.
Latest ABS home loan data seems to indicate increased underlying barriers to home ownership and have fuelled the flames of first home buyer doomsaying. But a closer look at the data reveals a more positive environment, particularly on a local market-by-market basis.
The ABS reported that the proportion of first home buyers approved over September in New South Wales is the lowest on record at just 4.1 percent market share of home purchase loans. No real surprise here as significant first home buyer activity has been brought forward over the past two years as a consequence of state government changes to first home buyer incentives.
Similarly in Queensland low first home buyer activity is a consequence of demand brought forward over the past year due to changes to local incentive schemes. And Victorian first home buyer activity is also predictably waning following a recent surge in activity as the local state government followed the lead of other states and changed its incentive programs.
First home buyer activity in other state markets however remains consistently alive and well. In Western Australia the proportion of first home buyers in the market is a nation-leading 20.6 percent and clearly above the long-term average for that state. Similarly in South Australia the proportion of first home buyers at 14.7 percent remains above the long-term average for that state.
Tasmania first home buyer activity over September remains just below the long term average market share.
Expect first home buyer activity to gradually recover in New South Wales, Victoria and Queensland as underlying demand increases driven by Australia’s ever-resilient aspiration for home ownership.
 
Property Observer is looking into how ABS compiles this data and will publish a follow-up piece.
 
<a target="_blank" href="mailto:ntrotman@propertyobserver.com.au">ntrotman@propertyobserver.com.au</a>
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Stand up and be counted: Are the FHB stats a true reflection?

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Central Square, a $100 million residential development by Toga Group is the latest addition to be announced for the West Ryde Urban Village development.
Architecturally designed by Anthony Vavavis and Associates, Central Square will feature 205 one-, two- and three-bedroom apartments across five levels.
Located on Anthony Road, residents will have access to a ground level supermarket and a landscaped central garden.
“Starting at an affordable $480,000, the development will bring to West Ryde a new level of quality living and affordability in the heart of the revitalised and thriving Village Square precinct, which is a short 150-metre walk to the railway station and bus interchange,” says Toga Group executive general manager Fabrizio Perilli.
With interiors by Marchese Partners, one-bedroom apartments range in size from 55 square metres to 83 square metres and are priced from $480,000.
Two-bedroom apartments range in size from 67 square metres to 95 square metres and start from $620,000.
Three-bedroom apartments range in size from 85 square metres to 108 square metres and start from $795,000.
“Not only does the Toga Group have an excellent track record for delivering multi-use residential projects that attract new residents, retailers and restaurateurs to key areas, its developments inspire active and social urban living, connecting places for people to live, work and play – partnering with them is a fantastic outcome for the City of Ryde community,” says City of Ryde mayor councilor Roy Maggio.
Central Square is following the "vertical village" trend, where developments are built over retail precincts as more local councils impose height restrictions, and the problem of providing affordable houses and shops increases.
Genevieve Brannigan wrote about this trend for Property Observer <a target="_blank" href="https://www.propertyobserver.com.au/developments/six-star-vertical-village-apartments-come-to-brighton-genevieve-brannigan/2013082064213">here</a>.
The West Ryde Urban Village development includes three basic features: a West Ryde community central, new retail and residential and a village square comprising of community facilities, retail, commercial and residential facilities.
Central Square is scheduled to commence in January 2014 and has an expected completion date of mid 2015.
The development will launch to the public on November 23.
<a target="_blank" href="https://mce_host/ntrotman@propertyobserver.com.au">ntrotman@propertyobserver.com.au</a>
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Central Square $100 million "vertical village" to grace West Ryde Urban Village

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Joel Robinson

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

[smartcode_project_cta:default project_id=151449]

Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

La Vera closes in on completion as Macquarie Park continues residential transformation

Brisbane developer Red &amp; Co's decision to include dual key apartments in its debut Gold Coast apartment development, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO Varsity Lakes</a>, is proving to be one of the project's biggest drawcards, with buyers quickly snapping up the flexible residences.

More than half of the project's 36 dual key apartments have already sold, helping drive COMO beyond the 50 per cent sold mark within the first month of launch.

The strong response highlights growing demand for apartment designs that can adapt to changing lifestyles, with buyers increasingly looking for homes that accommodate multi-generational living, provide rental income opportunities or simply offer greater flexibility over time.

Located on the shores of Lake Orr, COMO will deliver 156 apartments across 16 levels, with the dual-key residences forming a limited release within the broader development.

Each combines a primary two-bedroom apartment with a fully self-contained studio on a single title, connected by a shared foyer and lockable internal door. The design allows owners to house ageing parents, adult children or guests while maintaining privacy, or lease the secondary residence to generate additional income.

Just 17 of the original 36 dual key apartments remain available.

[smartcode_project:default project_id=135546 project_image_fid=367096]

The innovative configuration combines two fully self-contained residences on a single title, typically comprising a primary two-bedroom apartment alongside a separate studio residence, connected via a shared foyer and lockable internal door.&nbsp;

The model is proving particularly attractive to owner occupiers navigating changing family dynamics and the realities of the current housing crisis.&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363511]

<a href="https://www.apartments.com.au/project-marketer/npa">NPA</a>&nbsp;CEO Andrew Erwin said dual key living was resonating strongly with modern buyers because it delivered both financial flexibility and practical lifestyle benefits.&nbsp;

“The housing crisis and rising cost of living are fundamentally changing how Australians think about home ownership,” Erwin said.&nbsp;

“Dual key apartments provide a genuine solution for families who want to stay connected while maintaining independence. Parents can help adult children save for a future home, ageing parents can remain nearby without moving into aged care, and owners still retain privacy and flexibility.

“Importantly, buyers are also recognising the financial advantages. It creates the opportunity to generate additional income from part of the home without the holding costs associated with owning a separate investment property.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363509]

Unlike traditional dual occupancy arrangements, the residences operate under a single title, meaning owners only incur one set of body corporate fees, council rates and holding costs.&nbsp;

The secondary residence can also evolve over time - functioning as guest accommodation, a home office, creative studio or private retreat before later becoming an income-producing asset.

<a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co</a>&nbsp;Director and Co-Founder David Laverty said the strong early sales reflected growing buyer urgency and changing priorities within the market.&nbsp;

“Securing more than half of COMO’s residences within such a short timeframe is an outstanding result and a clear endorsement of both the design and location,” Laverty said.&nbsp;

“Buyers are responding to the combination of location, connectivity and amenity, but ultimately it’s value relative to other East Coast markets that is driving enquiry.”&nbsp;

“We’re also seeing strong interest from owner occupiers looking for homes that can adapt with them over time. Flexibility has become one of the most important considerations for buyers in today’s market.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363515]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, COMO features a mix of one-, two- and three-bedroom residences with 2.7-metre ceilings and larger-format floorplans aimed at owner occupiers, downsizers and lifestyle-focused buyers.&nbsp;

The development will feature an extensive rooftop recreation and wellness offering including a 25-metre lap pool, sundeck, barbecue and dining areas, gym, sauna, plunge baths, landscaped gardens, wellness spaces and rooftop pickleball and paddleball courts.

The remaining dual key apartments range from 137 sqm to 167 sqm and include generous three-bedroom layouts with separate self-contained studio accommodation and dual parking.&nbsp;

Erwin said the dual key concept represented a broader shift in how Australians would live in the future.

“People want homes that can evolve with their lives,” he said.&nbsp;

“A dual key apartment can suit a family today, support an ageing parent tomorrow, and potentially generate income later on. That adaptability is becoming incredibly valuable in the current environment.”

Prices currently range from $2,115,750 to $2,583,000.&nbsp;

[smartcode_project_cta:default project_id=135546]

Inter-generational living drives demand for COMO’s dual key apartments as housing pressures reshape buyer priorities 

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/ceerose">Ceerose</a> has doubled down on its Leichhardt ambitions, lodging its second State Significant Development Application (SSDA) in the suburb in the last six months.

Their newest proposal seeks to transform a former industrial precinct into a new residential community centred around the adaptive reuse of one of the site's heritage warehouse buildings.

The new project, on a 6,930 sqm block at&nbsp;<a href="https://www.apartments.com.au/new-apartments/40-76-william-street-leichhardt-nsw-2040">40–76 William Street</a>, will bring more than 200 apartments to a suburb that has seen little to no new supply in recent years. It follows Ceerose's late 2025 SSDA for a mixed-use apartment project on nearby Parramatta Road, signalling the developer's growing investment in Sydney's Inner West.

Ceerose Founder Edward Doueihi told Apartments.com.au the developer’s long-standing presence in Leichhardt and the Inner West had given it a strong understanding of how the area has evolved and where its future opportunities lie.

“Ceerose has had a long-standing presence in Leichhardt and the Inner West, giving us a unique understanding of the area’s evolution and future potential,” Doueihi said.

“Having delivered projects throughout the region, we have witnessed the suburb’s transformation first-hand and understand the opportunities for its continued growth.”

Doueihi said that understanding also informed the planning process, with a comprehensive Stakeholder Engagement Outcomes Report prepared before the application was lodged.

The report identified the key issues and concerns raised by neighbouring residents and other stakeholders, allowing those matters to be considered and incorporated into the design where appropriate.

He said the delivery of additional housing would also play an important role in supporting the revitalisation of Norton Street and the Italian Forum.

“By increasing the local residential population, the development is expected to strengthen demand for local businesses, encourage further investment, and help restore the vibrancy that made the precinct a thriving destination in the early 2000s.”

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="7258c54c-8167-479e-8361-2d5fca9915b4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010B%20-%20CGI%20-%20View%202.jpg?VersionId=S9DQfxu_jpcB5LrAEYFUbyMzg5odW6i5" />

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the redevelopment would involve the demolition of four existing industrial buildings while retaining and adaptively reusing the site's most significant warehouse. The retained structure would anchor a new residential precinct comprising five interconnected buildings arranged around a large central landscaped courtyard, with heights stepping from five storeys along the surrounding residential streets to 11 storeys at the William Street corner.

According to the Architecture Design Report by Woods Bagot, the proposal "seeks to create a residential village centred around a generous green heart while celebrating the site's industrial heritage through the adaptive reuse of the existing warehouse building."

The development would comprise 203 apartments, with 188 proposed as build-to-sell residences, alongside 15 affordable housing apartments.

Rather than treating the retained warehouse as a standalone heritage object, Woods Bagot has sought to weave the site's industrial history throughout the masterplan. The proposal retains the north and west facades of the landmark corner warehouse, while new buildings reinterpret the site's brick-and-steel industrial language through their material palette and architectural expression.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="9e8c64c2-881b-49e1-8c90-6b6acaaa45b6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010C%20-%20CGI%20-%20View%203.jpg?VersionId=Qm8_8H_Xrg_sc4Mdjc59vlAcKF_5wRTb" />

The design is organised around what Woods Bagot describes as a "green heart", a landscaped communal open space that reinstates the leafy character removed when the site became an industrial storage facility. A new pedestrian laneway running through the site would improve permeability between William, North and Francis streets, linking residents through landscaped public spaces while activating the ground plane.

Residents would have access to communal gardens and shared recreation areas distributed throughout the development. Sustainability has also been prioritised, with the project targeting an average 7.9-star NatHERS rating. Proposed initiatives include rooftop solar generation, rainwater harvesting, passive solar design, naturally ventilated lobbies, extensive cross-ventilation and the reuse of existing building fabric to reduce embodied carbon.

The adaptive reuse strategy became a defining feature of the application after heritage investigations found only one of the site's industrial buildings could feasibly be retained. The Heritage Impact Statement concludes that preserving the key warehouse façades while referencing the site's industrial character throughout the new development provides an appropriate balance between renewal and conservation.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="efffafdb-594f-4e2b-a067-921fd51c05e1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010D%20-%20CGI%20-%20View%204.jpg?VersionId=DPmE4.k16YRt0i27hEZVtJAffarpvUfx" />

"Retention and adaptation of the site buildings has been explored but found not to be feasible except for the tallest building, whose street facades will be retained," the heritage report states.

"The proposed building will interpret the brick and steel character of the subject site, including reuse of some components and construction of a large 'sawtooth' structure in the proposed open space."

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="3bfef2b5-83f5-40cd-9cab-767092f34266" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010E%20-%20CGI%20-%20View%205.jpg?VersionId=7asb3i_ql4ybbuJOUb5UHBEIy0Q9t.DF" />

The William Street site is located around 300 metres from Leichhardt North Light Rail station and a short walk to Norton Street's retail, dining and hospitality precinct. The surrounding area has increasingly become a focus for urban renewal given its proximity to public transport and the Parramatta Road corridor.

Doueihi founded Ceerose in 1998 and has grown the business to become one of Sydney's more active apartment developers in recent years, with completed projects including The Alex Collective in Alexandria, Abbie's Lane in Annandale, and the award-winning Munro House in Elizabeth Bay. They are currently delivering Belgravia, 17 luxury apartments in Potts Point.

Nicola Trotman

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