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The $90 million mixed use commercial, retail and residential project York&amp;George has been granted development approval for its 39-storey building.
Situated behind the Apple Store on George Street, the 1,785-square-metre site will feature a six level podium and 32 levels of apartments.
The podium will include 7,000 square metres of flagship retail and commercial space.
Developed by Fife Capital, York&amp;George is a blend between York Street’s heritage persona and George Street’s contemporary urban setting.
With designs by John Wardle Architects, the development will boast a distinct weave through successive floors shifting in and our slightly and a seven-metre architectural feature will be the crown on top.
“The Sydney CBD is undergoing an exciting evolution with the introduction of more high-rise residential apartments,” says Fife Capital chief investment officer Alan Fife.
“This style of living – close to work, great restaurants, a huge selection of convenience through to high-end shopping, and easy transport links – is growing in appeal.
“Developing with the City of Sydney is a complex process. Fife recognises this and is about to bring to market a DA-approved project, which gives buyers distinctly more certainty when making their investment decisions,” says Fife.
Prices are yet to be confirmed but studio apartments range in size from 37 square metres to 43 square metres.
The residential component will be accessed via York Street, with Carlton House and Spiden House to be restored, as well as one of the city’s last remaining historic cartways.
The concierge will be in the sky lobby on level six, as will a 20-metre lap pool, sky garden, gym, yoga space and a BBQ.
One-bedroom apartments range in size from 50 square metres to 54 square metres.
Two-bedroom apartments range in size from 71 square metres to 77 square metres.
Three-bedroom apartments range in size from 110 square metres to 130 square metres.
The project will officially launch to the market on October 21.
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ntrotman-Et3xWpamVh

Fife Capital's $90 million York&George mixed use tower in Sydney CBD gets green light

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Located on the Fitzroy River, the city of Rockhampton has remained stable over the past few months, although investors have kept their eyes peeled with Terry Ryder supporting it as a good place to invest.
Ryder says <a target="_blank" href="https://www.propertyobserver.com.au/queensland/the-top-20-reasons-why-rockhampton-is-a-good-place-to-invest-terry-ryder/2013082864643">Rockhampton is affordable and considerably cheaper than both Mackay and Gladstone</a>, with several suburbs median house price below $250,000.
It has military economy, a power station, a university, plenty of tourism and two big abattoirs.
The median house price in <a target="_blank" href="/news">Rockhampton City</a> is $200,000, remaining stable for the past four months, according to RP Data.
The city peaked in 2008 at $232,500 and peaked again last year at $225,000.
The median rent for a house is $280 - which has also remained stable for the past four months - and reflects a 7.3% rental yield.
A two-bedroom home at <a target="_blank" href="https://www.reiq.com/property?pid=2578729">153 Kent Street</a> (pictured below) is currently on the market for $219,000.
Situated on 172 square metres and two blocks from the city, it last traded in 2006 for $125,000, reflecting an annual appreciation rate of 7.46%.
The listing says the property is currently tenanted, having last been advertised in 2010 for $230 - reflecting a 5.46% rental yield.
{yoogallery src=[images/stories/2013/10/18/rocky1]}
 
A little further up the street is a three-bedroom home at <a target="_blank" href="https://www.reiq.com/property?pid=2537025">190 Kent Street</a> (pictured below).
It is currently on the market for $257,000.
It lasted traded in 2010 for $150,000, reflecting an annual appreciation rate of 15.25%.
{yoogallery src=[images/stories/2013/10/18/rocky2]}
 
Unit prices are a little bit more expensive, with the median unit price remaining stable for the past two months at $325,000.
Unit prices peaked in 2010 at $515,000 and last month the median asking rent was $520, which has since dropped to $420.
Ryder warns that dwelling approvals almost doubled in the financial year 2013 so investors should keep an eye on vacancies.
Ryder also says to check flood maps before signing a purchase contract.
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Suburb spotlight: Rockhampton prices remain stable

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Stockland has been given a green light for its $600 million residential community in Banjup, as the City of Cockburn council approves the residential rezoning of land.
Known as Calleya, the 145-hectare site will house around 1,800 new homes and will become the closest, new land release south-west of Perth’s CBD.
“The speed-to-market achieved on this important project is a credit to the foresight and proactive approach taken by the Western Australia Planning Commission and the City of Cockburn,” says Stockland managing director and chief executive officer Mark Steinert.
Some 13% of the land – equivalent to 42 soccer fields – will be dedicated to parks, playgrounds and walking and cycling paths.
“Part of what sets Stockland apart is our masterplanned approach to new residential communities with the inclusion of beautiful parks, playgrounds and other shared assets that can be used and enjoyed by all residents, their families and friends,” says chief executive officer of residential at Stockland Andrew Whitson.
“We recognise that we have a responsibility to develop sustainable and vibrant communities, which thrive now and into the future.
“We set out to build a better way to live and one of our primary objectives is to deliver exceptional, green, living environments for our residents and the broader community,” says Whitson.
Stockland has received over 200 enquiries from buyers interested in land, with the first lots available for sale in November.
“We’re seeing very strong demand for new homes in key growth corridors north and south of the Perth CBD,” says Col Dutton WA general manager residential at Stockland.
“Calleya at Banjup is ideally located with excellent road and rail transport links and sits at the heart of an already thriving local community,” says Dutton.
Stockland has plans for a school and neighbourhood shops within the community.
The median house price in <a href="/news">Banjup</a> is $1.05 million, a 2.9% change in the past five years, according to RP Data.
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City of Cockburn council approves residential rezoning of Stockland's Calleya community

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You would think being the owner of a new home is a big enough incentive on auction day but one vendor has decided to offer the winning bidder a years supply of ice cream.
The new owner of the Dinsdale Street property in Albert Park will be able to enjoy Jock’s ice cream all year round, for free.
Boasting a classic solid brick façade, the property features high ceilings, wide American oak floorboards, Calcutta marble in the kitchen and Miele appliances.
Having recently been renovated, the three-bedroom home on 242 square metres comes engineered with a second storey addiction, subject to council approval.
The vendor says their family has been enjoying Jocks for many years and thought that the new owners should have the same privilege.
<blockquote class="twitter-tweet">
Behold the triple threat. When too much chocolate is never enough. Triple Choc sandwiches $12 for a pack of 2. <a href="https://t.co/Ou7Ex5kSjs" target="_blank">pic.twitter.com/Ou7Ex5kSjs</a>
— Jock's Ice Cream (@jocks_icecream) <a href="https://www.propertyobserver.com.au/https://twitter.com/jocks_icecream/statuses/370429334533574656" target="_blank">August 22, 2013</a>
</blockquote>
The offer to the winning bidder on auction day is one litre of ice cream per week for a whole year, valued at approximately $1,000.
“We were conscious not to encourage gluttony so thought this was a good amount for the family - with so many great flavours you could work your way through all of them throughout the year.
“With the weather warming up and auction day often dragging out, we thought it would be nice to keep the bidders refreshed with a sample of what life could be like around the corner from Jocks,” says the vendor.
It's by no means the first time that a frozen dairy incentive has been offered to porsepctive buyers. In March of this year, a <a href="https://www.propertyobserver.com.au/new-south-wales/ice-cream-giveaway-with-camperdown-cottage-offering/2013030559428" target="_blank">one-bedroom cottage in Camperdown was listed on the market with a year's supply of ice cream</a>, given by the Dairy Bell Ice Cream store.
The property will go under the hammer on October 26 through <a target="_blank" href="https://www.43dinsdalestreet-albertpark.com/">Oliver Bruce of Marshall White</a> with a $1.75 million plus asking price.
<blockquote class="twitter-tweet">
Lovers &amp; ice cream lovers. In store til sold out. Twin packs choc vanilla ice cream sandwiches &amp; our caramel sauce <a target="_blank" href="https://t.co/addoqpTWbv">pic.twitter.com/addoqpTWbv</a>
— Jock's Ice Cream (@jocks_icecream) <a target="_parent" href="https://www.propertyobserver.com.au/https://twitter.com/jocks_icecream/statuses/368587942488326144">August 17, 2013</a>
</blockquote>
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An ice cream auction incentive to entice prospective buyers

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The director of Parramatta mortgage broking business Preferred Finance Solutions Pty Ltd has been convicted after pleading guilty on October 1 with one count of fraudulent concealment of property from a liquidator.
David John Barrett was charged by ASIC after failing to provide details of a company bank account that was receiving trailing commissions from the loans that had been secured for consumers.
Barrett failed to provide account details to the liquidator until September 2 2008, where the account transactions were approximately $40,000.
“Directors who run companies must do so with honesty. In this instance, the fraudulent concealment of the bank account from the liquidator is an example of a failure to act honestly and ASIC will take action where directors fail to do so," says ASIC Commissioner Greg Tanzer.
Barrett was convicted without passing sentence under section 20(1)(a) of the Crimes Act 1914 (Cth) upon entering into a recognizance release order with a condition to be of good behaviour for two years
As a result of the conviction, Barratt is automatically disqualified from managing corporations for five years.
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Parramatta mortgage broking director convicted of fraudulent concealment

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All 68 townhomes in Sunland Group’s Whyte Residences project in Bundoora's University Hill have been snapped up within a two-week timeframe, as the developer looks towards its next two projects in the pipeline.
Architecturally designed in-house by Sunland Group, Whyte Residences features three-bedroom homes with balconies overlooking Plenty Gorge parklands and are priced from $550,000 to $620,000.
<img alt="whyte_CHANCELLOR_V02_street_scape_N8_10000_low" src="/images/stories/2013/10/15/whyte_CHANCELLOR_V02_street_scape_N8_10000_low.jpg" height="321" width="470">
“With such great proximity to Bundoora’s university, employment and shopping precinct we have seen a strong pull from both the local and overseas owner occupier markets,” says Craig Wright Sunland’s Victorian sales and marketing manager.
“We believe Whyte Residences holds many attractions to owners and families that have selected University Hill specifically due to its proximity to the CBD and the abundant, vibrant amenities surrounding it.
“We have also recorded 10 sales from Sydney which suggests to us that there is quite a bit of movement from Sydney’s investors into Melbourne’s residential market due to its affordability and strong long-term outlook.
“To sell out of all 68 homes in just two weeks – especially considering the current climate – is astounding.
“We are delighted with the project’s swift sell out and it certainly reassures us as to the demand for our luxury townhomes as we move to announce our next two projects over the coming months,” says Wright.
Construction on Whyte Residences is scheduled to commence in February with settlement approximately 18 months after.
<img alt="bundoora_oct_16_two" src="/images/stories/2013/10/15/bundoora_oct_16_two.jpg" height="314" width="470">
Sunland’s next project is a similar townhome development located in Chirnside Park.
The Gardens will feature 176 two- and three-bedroom townhomes with two-bedroom priced from $390,000 and three-bedroom apartments priced from $470,000.
Two-bedroom townhomes are 82 square metres and three-bedroom townhomes range in size from 163 square metres to 203 square metres.
The Gardens is due to be released in February next year.
Sunland’s third project in the pipeline is to be launched in 2014 and will feature 240 townhomes of mixed designs in Springvale, it's to be known as Carre.
Sunland's <a href="https://www.propertyobserver.com.au/developments/mum-and-dad-investors-snap-up-bundoora-townhouses/2011090751355" target="_blank">Eton development</a> in University Hill sold out within a month in 2011.
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Sunland's Whyte Residences in Bundoora sell out two weeks after launch

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The heritage Fremantle Boys School building on Adelaide Street has received $850,000 funding from the City for the first stage of its restoration.
Built in 1854 and currently occupied by the Film and Television Institute, the building requires significant restoration work.
The first stage will include asbestos management planning, chemical analysis of mortar mix to ensure compatibility, stonemason repairs to chimneys and parapets, new gutters, storm consultation and collaboration with the City’s heritage coordinator.
“The City places great importance on its heritage stock and as one Fremantle’s oldest heritage buildings and given its visible location and usage, the restoration of the FTI-occupied building has been one of our highest priorities,” says City of Fremantle technical services director Peter Pikor.
“Certain aspects of the building have deteriorated over a number of years and following a thorough investigation, it was decided that the best resolution was to use a staged approach to restore the building.
"This approach will allow a detailed analysis to be undertaken at the completion of each stage to address risk issues and clarify the scope of following stages,” says Pikor.
The first stage of restoration is to commence in the second quarter of 2014, with additional stages subject to council funding approval.
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Heritage Fremantle Boys School building to undergo restoration

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The Gold Coast market is showing signs of recovery with improved levels of stability and capital values less volatile, says CBRE.
“The past five years have been an extremely difficult period for the Gold Coast residential market, with a high level of receivership activity during the downturn driving property prices down considerably,” says CBRE senior research manager Sam Reilly.
“The luxury market – an area of major oversupply – was the hardest hit.
“While this had a negative impact on the market, a substantial proportion of this stock has been absorbed into the market, which has created more certainty about realistic price levels and in turn provided more confidence to buyers about what represents fair market value,” says Reilly.
Although the unit market is still trading at low levels, turnover is gradually improving as a result of reduced priced expectations and improved tourism and construction employment levels over the past 12 months.
Construction related employment recorded a 6.4% growth in the year to June 2013 and the tourism and retail sector experienced a lift in employment of 3.5% during the same period.
Reilly says Gold Coast’s relatively shallow employment base, which is largely reliant on tourism and construction, coupled with a high Australian dollar was responsible for the rapid change in business confidence at the onset of the Global Financial Crisis.
“The Gold Coast, which has traditionally relied upon high discretionary spending, was exposed to a substantial downturn in growth prospects, which quickly translated to negative growth for the residential market,” says Reilly.
Although the market is in recovery mode, rapid levels of capital growth in the Gold Coast are unlikely.
“Prolonged levels of stability will continue to gradually build confidence, which is a far healthier outcome than the boom and bust cyclical scenario historically seen on the Gold Coast.
“The lower Australian dollar is also a factor improving the market, with foreign tourists – particularly Asian tourists – attracted by cheaper prices on the Gold Coast.”
Reilly says the rise in tourism levels is helping improve the job market, and in turn, the residential market, but a much stronger domestic and global economy would be required before household discretionary spending was boosted to trigger substantial capital value growth in the Gold Coast.
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Rapid levels of capital growth in Gold Coast unlikely but market in recovery: CBRE

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The second release of the $150 million Mason Point development in South Morang has been released, following the successful sell out of stage one to both local owner-occupiers and investors.
A joint venture between Gibson Property Corporation (GPC) and Roche Property Group, Mason Point will features 48 two- and three-bedroom apartments and 16 two-bedroom townhomes.
<img width="470" height="261" alt="mason-point-oct-16-one" src="/images/stories/2013/10/16/mason-point-oct-16-one.jpg">
“At GPC we strive to create ground-breaking new mixed-use developments on the city’s fringes to provide a variety of living products that cater for all buyers’ needs,” says Charles Gibson director of GPC.
“All 64 residences are designed by award-winning architects Jackson Clements Burrows and feature an en suite and second bathroom, a contemporary colour scheme, generous built-in robes, Bosch appliances, stone bench tops in the kitchen and some also come with 10 square metre to 80 square metre balconies which are unprecedented for this type of development” says Gibson.
Two-bedroom apartments average 70 square metres and are priced from $323,000 and three-bedroom apartments average 85 square metres and are priced from $370,000.
Two-bedroom town homes average 103 square metres and are priced from $409,000.
<img width="470" height="243" alt="mason-point-oct-16-two" src="/images/stories/2013/10/16/mason-point-oct-16-two.jpg">
Mason Point is part of the $420 million worth of residential building approved in South Morang for the 2011-12 financial year to cater for a soaring annual population growth rate of 15.3%.
“South Morang is the second fastest growing suburb in Victoria and the sixth fastest in Australia with this trend underpinning significant residential demand from owner-occupiers and investors alike,” says Jamie Kay executive director of apartments at Oliver Hume Real Estate Group.
Kay says Mason Point has been designed to appeal to people looking for easy access to public transport, shopping and an alternative to the house and land packages.
“The development also offers easy access to nearby tertiary institutions, such as RMIT University and La Trobe University,” says Kay.
Construction is scheduled to commence in March 2014 and has an expected completion of 2015.
The median apartment price in <a target="_blank" href="/news">South Morang</a> is $328,000, a 15.9% change in the past five years, according to RP Data.
More information on Mason Point Stage Two available <a href="https://newrelease.masonpoint.com.au/" target="_blank">here</a>.
 
<hr>
 The image that appeared in the October 16 newsletter was of stage one. Property Observer has amended the pictures to reflect stage two.
 
 
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Mason Point releases stage two as part of South Morang's $420m residential pipeline

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The Arbour apartments in Cedar Woods’ Banbury Village in Footscray - aimed at first home buyers and investors - are to be released to the public this weekend.
Located in the former Beaurepaire tyre site, Arbour apartments will include 38 one- and two-bedroom apartments only 6.5 kilometres from the Melbourne CBD.
“Banbury Village is the ideal blend of varied product types set within an integrated community and located just 6.5 km from Melbourne’s CBD and opposite the West Footscray railway station,” says Nathan Blackburne Victorian state manager for Cedar Woods.
“Previous stage releases have been met with a great deal of success and with the competitive price points for Arbour, we’re anticipating good demand,” says Blackburne.
The previous 17 releases of attached, semi-detached and fully detached homes, consisting of 215 homes have all been snapped up, including two heritage apartment releases of 55 apartments also selling out.
One-bedroom apartments range internally from 39 square metres to 44 square metres and are priced from $293,000 to $305,000.
Two-bedroom apartments range internally from 58 square metres to 76 square metres and range in price $395,000 to $449,000.
Upon completion, Banbury Village will consist of approximately 430 dwellings.
The Olympic Tyre and Rubber Co began in 1933 by Sir Frank Beaurepaire and expanded in 1939 to include an administration building and large banbury machines - the banburies remain on the site today.
Arbour apartments will be released to the public on October 19 with an estimated construction commencement in March 2014.
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Arbour apartments in former Footscray Beaurepaire tyre site to be released this weekend

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;

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<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;

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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;

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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;

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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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