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Changes to the Western Australia First Home Owners Grant have taken effect, with first home buyers now eligible for $10,000 for a newly constructed home.
First home buyers were previously eligible for a grant of $7,000 whether they were to buy an established home or build a new home.
Those buying an established home are now eligible for $3,000.
Treasurer Troy Buswell says the changes are designed to boost housing supply and construction jobs.
“These important changes not only reflect sound policy to increase our overall housing supply, but the decision will also help create jobs in the housing sector,” says Buswell.
“Increasing the grant for new homes will provide first home buyers with greater incentive to buy or build a new dwelling rather than purchase an established home.
“This will help alleviate the pressure placed on the existing housing stock by the State’s high population growth and drive jobs growth,” says Buswell.
Property Observer <a target="_blank" href="https://www.propertyobserver.com.au/news/wa-fhogs-up-for-grabs-as-new-grants-face-delay/2013091765072">reported</a> on the delay of the bill being passed in parliament last week.
REIWA president David Airey said the delay in the change meant first home buyers looking for an established property still had a few more weeks to access the higher grant.
The change came into effect on September 25.
According to the treasurer’s office, it is estimated that each year around 800 first home buyers will switch from purchasing established homes to new homes in response to the changes.
Western Australia, South Australia and Tasmania are the only remaining states that still provide a grant to purchasers of established homes.
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ntrotman-Et3xWpamVh

Changes to WA FHOGs take effect

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Brookfield Residential Properties has seen a sell out of three-bedroom apartments in its first stage of Pinnacle at Portside Wharf, with owner-occupiers, particularly downsizers snapping up the apartments.
A waiting list for three-bedroom apartments has resulted in Brookfield releasing its final three-bedroom stock ahead of schedule.
"The sell-out of our first stage of three bedroom apartments highlights the strength of the owner occupier market and their demand for spacious, luxury apartments in key locations," says Portside Wharf Project Director Lee Butterworth
"In recent years owner occupiers have laid fairly dormant.
“Those who have been active in the market have tended to opt for smaller apartments.
"What we are seeing in Pinnacle now is a return of these buyers to the market and a trend towards larger apartments,” says Butterworth.
Located in <a href="/news">Hamilton</a>, three-bedroom apartments are 139 square metres in size and start from $1.2 million.
"A large portion of these buyers no longer want the maintenance of their existing homes but aren't ready to drastically downsize their living space, making the 139 square metres three bedroom apartments in Pinnacle the perfect compromise.
"For those making the shift from house to apartment, the three bedroom apartments in Pinnacle make it an easy transition with huge balconies up to 20 square metres, open plan living and floor to ceiling windows that showcase the stunning river and city views, creating a feeling of openness where the outdoors are invited in," says Butterworth.
Pinnacle features 162 one-, two- and three-bedroom apartments, as well as penthouses and two storey terrace homes.
One-bedroom apartments start from $410,000 and are 60 square metres.
Two-bedroom apartments start from $545,000 and range in size from 89 square metres to 98 square metres.
Terrace homes start from $795,000 and range in size from 92 square metres to 183 square metres.
Penthouses range in size from 207 square metres to 241 square metres and start from $1.785 million.
Some $46 million in apartment and penthouses sales have been snapped up since Pinnacle’s launch in April.
Designed by Noel Robinson Architects, residents will have access to a rooftop terrace on level 16, boasting a pool, BBQ area and a gym.
Pinnacle is over 40% sold to date.
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Three-bedroom apartments in high demand at Brookfield's Pinnacle

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One of Port Melbourne’s newest developments, Aqueous, is 90% sold as construction kicks off.
The $24.7 million development by Prince Developments on Nott Street will feature 41 apartments across six levels.
Architecturally designed by ROTHELOWMAN, inspiration has been drawn from the Port Melbourne area and the inherent connection to the beach and the movement of water.
“The façade has depth thanks to carefully placed voids enabling internal spaces and surfaces to be revealed, while permitting light and ventilation as well as protection from the elements,” says ROTHELOWMAN principal Shane Rothe.
“This allows privacy to tenants while encouraging activation to the street frontage,” says Rothe.
Peter Mitrevski managing director of Prince Developments says Aqueous has attracted a mix of both owner-occupiers and investors.
Aqueous offered a mix of studio, one- and two-bedroom apartments as well as penthouse style apartments.
One two-bedroom apartment remains for $750,000 and is 85 square metres in total.
Two one-bedroom apartments remain, priced from $475,000 and range in size from 53 square metres to 60 square metres.
Aqueous has a scheduled completion date of October 2014.
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Construction on Rothelowman-designed Aqueous kicks off

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Doma Group has purchased a 6,825-square-metre Kingston Foreshore site for $11.7 million.
The site can accommodate up to 120 residential dwellings, as well as commercial and retail space.
“Potential buyers are now starting to see the vision of the Kingston Foreshore project with residential projects completing and restaurant tenants moving in,” says Andrew Stewart CBRE ACT managing director.
“The development is definitely starting to get more of a community feel,” says Stewart.
Stewart says the site received interest from both local and national developers.
“Whilst overall interest in the site was strong, including developers from interstate, it is pleasing to see a local developer, who has a strong association with the overall redevelopment of Kingston Foreshore, re-invest in the area.
“It further points to the strength of the Canberra property market and confirms their faith this is one of Canberra’s best precincts,” says Stewart.
“Kingston Foreshore fits in well with our development pipeline and we are really excited about this unique site,” says Gavin Edgar, general manager development of Doma Group.
The site marks the fifth development for Doma Group in the Kingston Foreshore.
Doma Group just completed its mixed-use development, known as Dockside.
“Strong investment within the Kingston Foreshore clearly demonstrates the faith Doma Group have in the Canberra property market,” says Stewart.
Maree Harman director of CBRE residential development valuation specialist says market evidence suggests there remains a depth to the city and inner city suburbs unit market.
Harman says pre-sales are continuing with minimal or zero price
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Doma Group snaps up Kingston Foreshore site for $11.7 million

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A terrace on Nelson Street in Annadale is scheduled to go under the hammer this Saturday with a $900,000 plus price guide.
Much of the original home has been demolished but the 184-square-metre site is DA approved for a three- or four-bedroom home over three levels.
The plans include the retention of the front façade, an internal courtyard, two bathrooms and a roof terrace.
The plans are valued at $480,000.
The Nelson Street site has a four-metre fall from Nelson Street to Nelson lane, and like neighbouring properties, the plans would take advantage of the site characteristics and incorporate multiple levels at the rear.
The property last traded in 2004 for $503,000.
Simon Pilcher of Pilcher Residential says the property was last occupied 12 months ago.
Pilcher says the property has received interest from both owner-occupiers and developers.
It was listed back in June as a normal sale with a price guide of $1.01 million plus, before switching to auction this month.
The property is listed with Simon Pilcher and Hugh McGlone of <a href="https://www.pilcher-residential.com/3853519/295-Nelson-Street-Annandale" target="_blank">Pilcher residential</a>.
The median house price in <a href="/news">Annandale</a> is $953,000, a 21.4% change in the past year, according to RP Data.
 
<img src="/images/stories/2013/09/30/poll-results-sept-30-tow.jpg" width="470" height="358" alt="poll-results-sept-30-tow">
Australian Property Monitors recorded a <a target="_blank" href="https://www.homepriceguide.com.au/saturday_auction_results/Sydney.pdf">$970,000 auction sale price</a> for the property on September 28. 
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Annandale cottage with DA approved plans to go under the hammer

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Brisbane City Council’s River’s Edge Strategy will not only open the door for new river-related opportunities, but will promise valuable social and residential benefits, according to Patrick Dixon of Dixon Family Estate Agents.
The council’s objectives include further establishing and promoting a distinctive river brand for Brisbane through RiverRest and RiverStop places, as well as RiverLoops and a RiverLink.
“Growing the river brand will also have a very positive market impact.
“As is the case for all products, a better brand equals better prices,” says Dixon.
The strategy will see the council facilitate new recreational and social opportunities on and around the river.
“The more reasons to live on and near the river, the greater demand will be for this property – more demand equals better prices," says Dixon.
Dixon says the downside of the strategy is it only applies to the inner reaches of the river precinct, including <a href="/news">St Lucia</a> and <a href="/news">Dutton Park</a> to <a href="/news">Hamilton</a> and <a href="/news">Bulimba</a>.
“The middle and outer suburbs are missing out on social infrastructure, while the inner suburbs always reap the benefits of government attention,” says Dixon.
Dixon says St Lucia and East Brisbane could quickly be converted to become local community hotspots, adding much-needed revenue for amateur sporting organisations.
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Brisbane’s River Edge strategy to only benefit inner suburb market

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Pace Development Group has purchased a 2,146-square-metre site on Fitzroy Street in St Kilda for $17.15 million.
The purchase reflects a site rate of approximately $7,992 square metres.
Located at 173 – 191 Fitzroy Street, the six level building was the Australian Institute of Management’s headquarters for 20 years.
The Australian Institute of Management is relocating to the CBD.
The site boasts dual street frontages to Fitzroy Street and Pattison Street and offers the potential for a 10 to 12 level residential development.
The site was sold through CBRE’s Kiran Pillai and Mark Coster, in conjunction with James Kaufman and Steven Messina of Jones Lang LaSalle.
“The offering was one of the finest development opportunities put to the market in recent times,” says Pillai.
“The site allows for uninterrupted views across Albert Park Lake and the Melbourne CBD as well as sweeping views of Port Phillip Bay.
“The property achieved incredible interest with over 200 enquiries translating to 15 offers,” says Pillai.
“There has been a huge resurgence in residential activity over the last six month,” says Kaufman.
“Sales of completed apartments to privates, owner occupiers and offshore investors has gained momentum in light of favourable market conditions and falling interest rates,” says Kaufman.
Messina says international developers are currently dominating the CBD market, which is seeing competition heat up from domestic players in city fringe locations.
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Pace Development buys St Kilda site for $17.15m

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Melbourne is known for its industrial past and unique buildings, so today Property Observer looks at the top five warehouse conversions currently on offer.
Located on Eastment Street in Northcote, this three-bedroom home was formerly the Northcote bakery stables.
Situated on a double allotment of 342 square metres, the 19th century stables has been converted into a living space but still retains original trusses, wooden doors and Baltic floors.
It comes with a $1.7 million plus price guide.
The property is scheduled to go under the hammer on October 5 through Luke Chisholm of Nelson Alexander Northcote.
{yoogallery src=[images/stories/2013/09/25/north]}
 
Another warehouse conversion to go under the hammer on October 5 is a three-bedroom, two-bathroom home on <a target="_blank" href="https://www.jasstephens.com.au/?pagecall=property&amp;propertyID=2461870">Stanger Street in Yarraville</a>.
Formerly an old shop, the home now boasts an industrial-style design of black-framed warehouse deco windows and a high-walled courtyard.
It is listed with Astrid Jane of Jas Stephens Real Estate with a $580,000 plus price guide.
{yoogallery src=[images/stories/2013/09/25/yarra]}
 
Located on Martin Street, St Kilda a three-bedroom tri-level warehouse conversion will also go under the hammer on October 5.
The large space offers the option of a home/office/studio combination and also boasts an alfresco entertaining area.
It last sold in April 2010 for $752,000.
It is listed with Robert German of <a target="_blank" href="https://www.beller.com.au/index.php/residential_sales/?page=view&amp;OID=6037489&amp;tp=70">Beller Real Estate Prahran</a>.
{yoogallery src=[images/stories/2013/09/25/st]}
 
A three-bedroom conversion on Theresa Street, Richmond maintains its industrial past through cathedral ceilings, exposed trusses and concrete floors.
Built in 1930, it comes with a $950,000 plus price tag.
The property is due to go under the hammer on October 19 though <a target="_blank" href="https://www.propertyobserver.com.au/https://www.bigginscott.com.au/property/details/13072">Julia Taylor and Melissa Argyriou of Biggin and Scott Richmond.</a>
{yoogallery src=[images/stories/2013/09/25/rich]}
 
Last but not least, a five-bedroom two-level conversion on Newry Street in Fitzroy North is ripe with history.
The red brick Victorian building was originally stables before it became Harry Evan and Sons’ billiard table factory.
Overtime it became a photographer and artists’ studio.
The home features two bathrooms and a paved and landscaped courtyard garden.
It last sold around 1980 for just under $1 million.
It’s scheduled to go to auction on October 19 though <a target="_blank" href="https://www.nelsonalexander.com.au/properties/buying/fitzroy-north-1a-newry-street#.UkI6wIV4K-w">Arch Staver of Nelson Alexander Real Estate</a> with a $2 million plus price guide.
{yoogallery src=[images/stories/2013/09/25/fitz]}
 
<img alt="poll-results-sept-26" height="307" width="470" src="/images/stories/2013/09/26/poll-results-sept-26.gif">
If you’ve undertaken an industrial conversion and would like to share it, email <a href="mailto:ntrotman@propertyobserver.com.au">ntrotman@propertyobserver.com.au</a>
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Top five Melbourne warehouse conversions on the market

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For just $5 a ticket, you could win three apartments in Sydney, Melbourne and Brisbane, offering a total annual rental return of just over $102,000.
 The Ultimate Trifecta – a ready made portfolio – is the latest prize up for grabs form the RSL Art Union.
“It’s an impressive prize; the winner gets an apartment in each of Australia’s biggest capital cities – Brisbane, Sydney and Melbourne,” says RSL chief executive officer Chris McHugh
“The competition launches at the perfect time, with all three capital cities showing promising growth,” says McHugh.
Sydney and Melbourne are in the top three locations for annual growth, according to RP Data.
Data collected from the 12 months until July 2013 reflects a 6.5% growth in Sydney and a 4.3% growth in Melbourne.
Brisbane achieved a 0.8% growth.
Apartments are interiorly designed and feature two bedrooms and top of the range appliances.
All three apartments complexes feature swimming pools and gardens areas for BBQs.
“If the winner chooses to live in their current house and just collect the estimated rental returns from these three properties they’ll net themselves just over $102,000 per annum,” says McHugh.
“Not bad returns on a lottery ticket that costs just $5.
“As well as the impressive passive income these apartments generate, all together they’re worth a cool $1.8 million,” says McHugh.
All proceeds from RSL Art Union draws are dedicated to supporting war veterans and their families across Australia.
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A $5 ticket could see you winning three apartments

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Quest Serviced Apartments opened its $30 million Quest Mackay on Gordon this week, motivated by thriving business conditions in regional North Queensland.
“Mackay is well-known for its buoyant economy and reputation as a great place to do business,” says Quest chairman and chief executive officer Paul Constantinou.
“The vibrant and thriving region is a service centre for Queensland’s rich resource basins, and home to growing numbers of innovative and prosperous business,” says Constantinou.
Located at 27 Gordon Street, Quest Mackay on Gordon will feature 115 studio, one- and two-bedroom serviced apartments, fully equipped with kitchen and laundry facilities.
Guests will also have access to meeting and conference facilities, as well as a recreational deck with a pool, spa and gym.
Quest Mackay on Gordon is a joint venture between current franchisees of Quest Mackay, Russell and Elise Spurrell, and Mackay locals, Rob and Corinna Cotter.
“Mackay is recognised nationally as a growth hotspot and demand for quality accommodation is increasing,” says Spurrell.
“Having the second property in Mackay, we will now be able to offer a total accommodation solution to our existing clients and help alleviate the shortage of quality business accommodation in the area,” says Spurrell.
“Mackay’s position as the centre of business growth in regional Queensland made it an obvious decision to open a second Quest property here,” says Constantinou.
Quest Serviced Apartments has more than 150 properties in Australia, New Zealand and Fiji.
Property Observer recently reported on <a target="_blank" href="https://www.propertyobserver.com.au/commercial/quest-to-build-tullamarine-melbourne-aiport-serviced-apartments/2013073163641">Quest’s plans to build a serviced apartment hotel in Tullamarine</a> to accommodate for the growing demand for accommodation at Melbourne airport.
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Quest opens second serviced apartment hotel in Mackay following positive business conditions

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."

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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.

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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."

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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>.

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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.

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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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