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A converted warehouse apartment by famed Allan Jack+Cottier at <a href="https://www.realestate.com.au/sold/property-apartment-nsw-darlinghurst-132756978" target="_blank">15-19 Boundary Street</a> was sold today.
The modern Darlinghurst apartment was sold on site through Bresic Whitney for $880,000. 
The one-bedroom apartment features double-height, floor-to-ceiling glass, oak floorboards, fully-tired bathroom, and laundry, intercom entry, and a parking space on the edge of Sydney. 
The former stocking factory was bought during the height of New York's warehouse trend and redeveloped into residential spaces.
A 1949 survey map reveals the 15-19 Boundary Street factory site was known as the Lustre Hosiery Limited who employed a large number of women to work the manufacturing machinery to make stockings, socks, pyjamas. The company existed from the 1920s to the 1960s, and its warehouse has been preserved ever since.
It became apart of the October 15, 1929 edition of The Textile Journal of Australia which is available in the photographic archive of the Mitchell Library, NSW.
<a href="https://www.rwebay.com.au/9-15-19-boundary-street-former-warehouse-rushcutters-bay/" target="_blank">Professional heritage consultant, Andrew Woodhouse</a> explains that the "large concrete pylons are evidence of the strength of the floors required to support heavy industrial machinery.
"Large metal-framed windows are retained and indicate the n need for natural light, a safety requirement for women labouring on the factor floor."
 
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j.ballantyne1990-6AQqhLzZaK

Converted warehouse apartment in Darlinghurst sold 

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A four-bedroom family home at <a href="https://www.realestate.com.au/sold/property-house-nsw-hunters+hill-132909122" target="_blank">Cullens Lanem, Hunters Hill</a> was sold through Bresic Whitney. 
The 465 sqm parcel of land fetched $2,980,000. 
The property has had an impressive <a href="https://www.realestate.com.au/property/2-cullens-lane-hunters-hill-nsw-2110?pid=p4ep-pdp%7Csold-pdp:property-history-cta#timeline" target="_blank">record of sales</a>, it was first sold in 2016 for $2,660,000, initially sold for $410,000 in 1996, and sold on four other occasions between.
The property is tucked in a laneway position and is surrounded by greenery. 
The home features poolside lawns, entertainment terraces, air-conditioning throughout, and a king master bedroom with built-in wardrobes. 
 
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Peninsula family home in Hunters Hill sold

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A five-bedroom luxury home on Crown Road, Queenscliff has been sold through Cunninghams for $3,967,500 today. 
The beachside residence previously sold for $1,375,000 in 2007.
Built approximately 10 years ago, the house received a Master Builder award for its architectural design. 
The home has multiple living spaces with a range of outdoor entertaining zones including a covered entertainer's deck that overlooks the garden and swimming pool. 
The bedrooms are situated upstairs, and equipped with air-condition units, ceiling fans. The master suit has an en-suite with double shower and vanity, and a walk-in wardrobe.
There is a second living area  for guest accommodation with a bedroom with ensuite.
The 650 sqm property sits between Freshwater and Manly beach. 
 
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Queenscliff beachside family home sold

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REIWA is warning against dropping the current 75 per cent rebate on off-the-plan purchases.
Stamp duty is one of the biggest barriers to home ownership so REIWA is asking all political parties to focus on ways to extend this initiative.
REIWA president, Damian Collins said REIWA supports the concept of relief for apartment buyers off-the-plan and believe it would be a step backwards to remove the rebate.
"Stamp duty relief for off-the-plan sales not only helps the government to meet its target of 47 per cent of new dwellings in infill locations, but it helps increase the speed of transition from apartment sales to actual construction activity," said Mr Collins.
“Rather than removing an initiative that is already in place to help people get into their home sooner, we should be looking at expanding this to include completed projects to help reduce current stock levels, and projects that are currently under construction.
“In addition, any relief provided for off-the-plan sales should be made permanent to give the development industry certainty when planning for future projects.
“REIWA asks all political parties to commit to stamp duty relief for off-the-plan purchases. There is a lot that can be done to help both the WA economy and the property market. Let’s focus on moving forward rather than backwards.”
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REIWA warns against dropping rebate on off-the-plan purchases

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Gosford has taken out the No.1 spot in RiskWise’s 2020 list of Top 10 Danger Zones.

RiskWise Property Research CEO Doron Peleg said the NSW suburb topped the list due to a number of factors including the recent bushfire risk, oversupply of units (at more than 72 per cent of existing stock) and that units unsuitable for families were not in high demand.

“It is hard to convince prospective buyers that this is the best investment they can make when there are plenty of other options available,” Mr Peleg said.

[smartcode_project:default project_id=7317]

“Another at-risk area is the suburb of Mascot with 1,061 units in the pipeline, at an addition of 17.67% to existing stock, and where news of the construction defects impacted the entire suburb.

“Areas outside of Sydney and Melbourne, such as Darwin, experienced overall weakness in the property market due to low population growth (the Northern Territory was the only state in Australia that experienced population loss in 2017-18). Darwin units delivered -33.7 per cent capital growth over the last five years.”

<img alt="" src="https://www.urban.com.au/images/2020/2/14/RiskWise%20DangerZONES.JPG">

He said while apartment prices in Sydney and Melbourne were enjoying price rises, this was not the case in high-supply areas.

“The best case scenario in these areas is they are simply underperforming the market, but the worst case scenario is they are actually losing money,” Mr Peleg said.

“For example, while Domain’s latest House Price Report shows in the 2019 December quarter prices rose 4.3 per cent, this was not the case in suburbs with high oversupply and particularly those affected by construction defects, such as Mascot where prices fell 4.6 per cent to $880,000. In Homebush West, where the Centenary Park building is located, prices also fell 9.3 per cent to $565,000.

[smartcode_project:default project_id=32227]

“These areas not only have the risk of being in the Danger Zone due to oversupply but also construction defect risk.

“For example, the number of apartment sales in Sydney Olympic Park fall dramatically by 75 per cent following the defects identified in Opal Tower with buyers showing little interest for apartments across the suburb.

“What we are seeing is that new units in high-supply suburbs either resulted in a loss or underperformed the market, even during periods of strong price increases.

“The recent downturn is not the major factor in those losses - even ignoring the recent downturn and then recovery, they are still materially underperforming the market.”

[smartcode_project:default project_id=6201]

According to analysis by BIS Oxford Economics in April last year, two-thirds of Melbourne apartments sold off the plan during the eight-year period between 2011 and 2019 either made no price gains or lost money on resale. In Brisbane, this figure was 50 per cent and in Sydney about a quarter.

Figures from the Real Estate Institute of Australia also show the Brisbane unit market continued to underperform in 2019, resulting in negative 1.2 per cent growth.

Mr Peleg said HIA figures showed building approvals in the 2019 calendar year were 18.5 per cent lower compared to 2018.

“This is well below their peak indicating the demand for off-the-plan units has reduced,” he said. “The expectation was that over time, and with the reduction in dwellings under construction, the stock would be absorbed.

“However, we have recently seen an increase in high-rise dwelling approvals and the risk of losses from buying off-the-plan is increasing. The point is the risks are very tangible, they have been realised and we have witnessed major price reductions in a number of areas with oversupply.

[smartcode_project:default project_id=6798]

“It should be noted that even in phenomenal boomtimes, based on that eight-year perspective, when you buy off-the-plan apartments in high-supply areas there is a greater risk, and the construction defects only compound this.

“It is not only financial risk but also the newly emerging construction risk.

“Finally, the potential re-introduction of credit restrictions by the regulator would likely have a material impact on investors, generally are the majority of new apartment buyers in those areas, and further increases the potential risk of low demand and underperformance of these investments.

“The major objective of investors is to build equity and in the current market conditions the most effective way to do so is to simply invest in existing properties that are suitable for families in high-demand areas,” he concluded.
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Gosford is the biggest property dangerzone of 2020: RiskWise

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Residential land sales have increased by 45.9 per cent from their record low in the March 2019 quarter, according to the February 2020 edition of the HIA-CoreLogic Residential Land Report.
HIA Economist, Angela Lillicrap said, "the first half of 2019 was particularly rough for the residential building industry, with falling house prices, uncertainty surrounding the election and the credit squeeze all weighing on confidence."
“Leading indicators in the final months of 2019 show that the housing market has improved and the increased demand for residential land is further proof of this."
“A shortage of land is one of the factors that has driven home prices to increase over the past decade. With demand for land picking up, it is important that an adequate supply is maintained each year to avoid undue pressure on housing affordability,” concluded Ms Lillicrap.
According to Eliza Owen, CoreLogic’s Head of Residential Research, “Demand for land and dwellings has rebounded strongly from June last year, which is also reflected in a 6.7% rebound in national dwelling values over the past 7 months."
"The strength of the rebound comes from a halved cash rate between June and October last year, the re-election of the Coalition Government providing certainty around negative gearing and capital gains concessions, and ongoing demand for owner-occupier dwellings as the millennial cohort moves through the first home buyer age bracket of 25-34."
"Prices for land and housing are likely to rise further over 2020, though this may be slightly mitigated by higher listing levels coming to market, as sellers take advantage of price increases,” she concluded.
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Demand for residential land is on the rise: HIA

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A Piara Waters, West Australia mortgagee home is now under offer following an increase in the asking price.
Originally seeking $505,000 when listed in early January, home is now listed for $545,000.
Cameron Wilson of the Proffessionals is marketing the four bedroom, two bathroom house.
Situated at <a href="https://www.realestate.com.au/property-house-wa-piara+waters-132729506" target="_blank">30 Medawar Loop</a>, the abode was built in 1950.
It last sold for $340,000 in late 2006.
Set on 502 sqm, the listing notes, "there are solar panels on the roof and the lawns are dead."
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
The median price for a house in <a href="/news">Piara Waters</a> is $471,000 according to CoreLogic data.
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Piara Waters, WA mortgagee home under offer after raising asking price

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A Montmorency, Victoria mortagee home is set for auction later this month.
It goes to auction with a price guide of $790,000 - $850,000.
If it were to sell within this range it would represent a significant increase in value on its 2006 sale price of $340,000.
Daniel Leibowitz and Max Jones of Darren Jones are marketing the three bedroom two bathroom house.
Situated at <a href="https://www.realestate.com.au/property-house-vic-montmorency-132833578" target="_blank">23A Airlie Road</a>, the home is set on a 706 sqm block.
The abode was built in 1950 and is according to the listing, "mostly original."
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
The median price for a house in <a href="/developments/montmorency-vic-3094">Montmorency</a> is $834,000 according to CoreLogic data.
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Montmorency, Victoria mortgagee home set for auction

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A Chermside West, Queensland home has been listed as a mortgagee sale for $475,000.
The value sought is a reduction of $37,500 from its previous sale price of $512,500 back in 2015.
Zac McHardy of Harcourts is currently marketing the property.
Situated at <a href="https://www.realestate.com.au/property-townhouse-qld-chermside+west-132954694" target="_blank">15/397 Trouts Road</a>, it is a three bedroom, two bathroom townhouse.
It is located in 'Hamilton 853', a "boutique complex of contemporary modern townhomes which... sold out very quickly when released in 2015," according to the marketing material.
Set on 155 sqm, the home was previously listed for a year starting in August 2018 for $498,000 - $520,000 which was reduced to "mid $400,000's" by the end of the campaign.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
The median price for a house in <a href="/developments/chermside-west-qld-4032">Chermside West</a> is $585,000, according to CoreLogic data.
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Chermside West, Queensland mortgagee home listed for minor reduction in value

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A Gosnells, West Australia home has been listed as a mortgagee sale for $250,000, following an unusuccessful two year campaign.
Originally listed for $399,000 to $439,000 during the 2017-2019 marketing campaign, it is now being offered for $250,000.
Rick Rispoli of LJ Hooker is marketing the three bedroo, two bathroom house.
Situated at <a href="https://www.realestate.com.au/property-house-wa-gosnells-132472226" target="_blank">22A Bert Street</a>, the home last sold for $380,000 in 2015.
Set on 935 sqm, the listing described the home as "suited for the savvy investor/developer" as it is zoned R30/R40.
Built in 1956, the home was listed as a rental seeking $220/pw in 2018.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
The median price for a house in <a href="/news">Gosnells</a> is $276,000, according to CoreLogic data.
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Gosnells, WA mortgagee home listed for $130,000 reduction in value

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.

[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>.

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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.

[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.

Staff reporter

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