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A three bedroom 1970s South Hedland, WA home has sold for $130,000.
It had been listed for $150,000 in August 2018 before having the asking price reduced to $140,000.
Last sold in 2006 it traded for $191,000 and was listed just 10 months later in early 2007 for $330,000 before being taken off market.
Situated at 25 Edkins Place, the house on an 818 sqm block comes with three bedrooms plus verandahs in both the front and rear.
Peter Dunning of RayWhite held the listing.
The home was built in 1973.
It has been on the market for rent for the past 10 years where in 2009 to mid 2014 it was listed for upwards of $1,000 a week.
It was recently listed at a $300 a week asking rent, which has been dropped to $250 a week.
Following 2014 however the asking rent fell to $750 and has been hovering around $325 - $390 for the past four years.
<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="">
The median price for a home in <a href="/developments/south-hedland-wa-6722">South Hedland, WA</a> is $190,000 according to CoreLogic, which calculate its annual change in median price over the past 10 years as -8.9%.
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j.ballantyne1990-6AQqhLzZaK

South Hedland, WA mortgagee house sold for $61,000 loss

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An Auburn, NSW mortgagee house has sold for $199,000 below the initial asking price of $670,000 - $720,000. 
The home which sold March 12 2019 for $521,000, remained on market almost 500 days, through two unsuccessful auctions and four price cuts.
After failing to sell at auction the initial asking price was cut to just $670,000 then $635,000 in July of 2018.
Following another unsuccessful auction in December 2018 the price guide was reduced to $550,000, then $529,00 in January 2019.
Themy Panagiotidis of LJ Hooker held the listing when the property was successfully transacted.
Situated at <a href="https://www.realestate.com.au/sold/property-house-nsw-auburn-129979298" target="_blank">1/52 Beaumont Street</a>, the property is a three bedroom two bathroom house.
Set on 261 sqm the home is located near the Auburn Tennis Club, Rosnay Golf Course, Auburn West primary school and local parklands.
<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="">
The median price for a home in <a href="/developments/auburn-nsw-2144">Auburn, NSW</a> is $875,000 according to CoreLogic, which calculate its annual change in median price over the past 10 years as 7.9%.
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Auburn, NSW mortgagee house sold for $200,000 below initial listing

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Parkmore, a historic 1891 Victorian mansion in Rosebud, the seaside town on the Mornington Peninsula, has finally sold after numerous attempts.
The grand six-bedroom Victorian home at <a href="https://www.realestate.com.au/sold/property-house-vic-rosebud-128521190">741-743 Point Nepean Road </a>sold for an undisclosed price having revised price hopes of $2.6 million to $2.8 million during its most recent sales campaign.
The property passed in at auction last July.
Positioned opposite the beach, last year McEwing &amp; Partners Mornington agent Quentin McEwing saw two bidders compete for the property before it was passed in at $3,175,000.
The heritage listed manor had an initial guide of $2.7 million to $3 million which was amended to a price guidance of $3.2 million to $3.5 million before the auction.
It was listed in 2017 with $3 million to $3.3 million price guidance.

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It last sold at a suburb record $2,825,000 in 2016 when bought by the property developer Robert Kampf.
Directly opposite a long sandy stretch of beach, thehouse comes with three living/dining rooms, a modern kitchen, wine cellar/cantina, six bedrooms, and an array of verandas and patios.
<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/2018/6/4/rosebud%202.jpg" alt="">
Other features include heated swimming pool &amp; spa, fireplaces, sash windows and ducted heating and cooling. 
It is within short walking distance to the McCrae Plaza, the yacht club, restaurants and cafes.
<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/2018/6/4/rosebud%203.jpg" alt="">
It is listed by Quentin McEwing and Marcus Gollings from McEwing &amp; Partners Real Estate.
The suburb's median house price sits around <a href="/developments/rosebud-vic-3939">$560,000</a>, according to CoreLogic. 
Rosebud was raked in late 2017 as the cheapest place to buy on the Mornington Peninsula. 
<table>
<thead><tr>
<th rowspan="1" colspan="1"> </th>
<th rowspan="1" colspan="1">
Median house
</th>
<th rowspan="1" colspan="1">
Annual growth
</th>
<th rowspan="1" colspan="1">
5 year growth
</th>
</tr></thead>
<tbody>
<tr>
<td rowspan="1" colspan="1">Dromana</td>
<td rowspan="1" colspan="1">$685,000</td>
<td rowspan="1" colspan="1">18%</td>
<td rowspan="1" colspan="1">84%</td>
</tr>
<tr>
<td rowspan="1" colspan="1">Blairgowrie</td>
<td rowspan="1" colspan="1">$856,000</td>
<td rowspan="1" colspan="1">15%</td>
<td rowspan="1" colspan="1">84%</td>
</tr>
<tr>
<td rowspan="1" colspan="1">Tootgarook</td>
<td rowspan="1" colspan="1">$553,500</td>
<td rowspan="1" colspan="1">16%</td>
<td rowspan="1" colspan="1">86%</td>
</tr>
<tr>
<td rowspan="1" colspan="1">Sorrento</td>
<td rowspan="1" colspan="1">$1.3m</td>
<td rowspan="1" colspan="1">30%</td>
<td rowspan="1" colspan="1">92%</td>
</tr>
<tr>
<td rowspan="1" colspan="1">Safety Beach</td>
<td rowspan="1" colspan="1">$720,500</td>
<td rowspan="1" colspan="1">16%</td>
<td rowspan="1" colspan="1">81%</td>
</tr>
<tr>
<td rowspan="1" colspan="1">Rye</td>
<td rowspan="1" colspan="1">$643,500</td>
<td rowspan="1" colspan="1">18%</td>
<td rowspan="1" colspan="1">87%</td>
</tr>
<tr>
<td rowspan="1" colspan="1">Rosebud</td>
<td rowspan="1" colspan="1">$526,000</td>
<td rowspan="1" colspan="1">17%</td>
<td rowspan="1" colspan="1">83%</td>
</tr>
<tr>
<td rowspan="1" colspan="1">Portsea</td>
<td rowspan="1" colspan="1">$1.86m</td>
<td rowspan="1" colspan="1">0%</td>
<td rowspan="1" colspan="1">82%</td>
</tr>
<tr>
<td rowspan="1" colspan="1">Mount Martha</td>
<td rowspan="1" colspan="1">$935,750</td>
<td rowspan="1" colspan="1">19%</td>
<td rowspan="1" colspan="1">91%</td>
</tr>
<tr>
<td rowspan="1" colspan="1">Mount Eliza</td>
<td rowspan="1" colspan="1">$1.1m</td>
<td rowspan="1" colspan="1">22%</td>
<td rowspan="1" colspan="1">91%</td>
</tr>
<tr>
<td rowspan="1" colspan="1">Mornington</td>
<td rowspan="1" colspan="1">$805,000</td>
<td rowspan="1" colspan="1">17%</td>
<td rowspan="1" colspan="1">91%</td>
</tr>
</tbody>
</table>
Source: Domain Group House Price Report, December quarter 2017 
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Historic Rosebud offering Parkmore finally sold

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A Ravenswood, WA mortgagee land parcel has been sold for $155,000 after 5 years on market.
Last traded in 2011 the land holding traded for $172,500, making this sale a $22,500 loss.
Brad Mercer of Mercer Harries held the listing.
Situated at <a href="https://www.realestate.com.au/sold/property-residential+land-wa-ravenswood-202296570" target="_blank">6 Bibbulmun Meander</a>, the land parcel is 782 sqm.
Originally listed for $199,000 plus the listing was slashed four times down to $165,000.
Located central to Pinjarra &amp; Mandurah, it has 17 m of street frontage.
<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="">
The median price for a home in <a href="/developments/ravenswood-wa-6208">Ravenswood, WA</a> is $323,500 according to CoreLogic.
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Ravenswood, WA mortgagee land parcel sold for $22,000 loss

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McGrath Limited has told shareholders that subdued 2019 market conditions have continued to hit its financial profitability.
Trading conditions in March 2019 are currently below expectations, it noted.
The announcement came at 5pm Friday, after the market close when shares were trading at near record lows of 26 cents.
Listed at $2.10 in late 2015, the company share low was 25.5 cents earlier this month, a 52 week low. This morning trading saw shares open at 25 cents. They have dropped to 24 cents in this morning's session.
McGrath's weekend results saw 33 sales and 22 unsold, a total of 55 offerings.
The same weekend last year, albeit without the NSW election distraction, had 167 offerings.
In 2017 it was 140 offerings.
The ASX-listed real estate agency McGrath revealed a further dip in earnings as the company struggles with the housing market downturn. 
“We are disappointed that the real estate sector is facing continued headwinds, exacerbated by the elections, the tighter lending environment and weakening economic conditions affecting our sales business, however our Property Management business continues to perform well,” CEO Geoff Lucas said.
McGrath noted its strong balance sheet position at 28 February 2019, featuring no debt and $14.3m million in cash.
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“The significant reduction in transaction volumes in the real estate sector has continued, however we are seeing signs that sellers are now more prepared to meet the market and interest rates continue to be at historic lows”, he added.
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<a href="/news/mcgrath-estate-agents-reports-a-weak-start-to-2019-sales">McGrath stated last month</a> that the continuing subdued property market had impacted the company’s performance, noting that trading conditions since balance date were below expectations, with generally lower listing volumes and average sale prices.
"The subdued market conditions have continued in the second half with recent market data indicating national dwelling values are continuing to fall and transaction volumes remain more than 20% below the prior year in both Sydney and Melbourne markets. 
"The company also foreshadowed in February 2019 that underlying EBITDA for the second half of FY19 was expected to be impacted by ongoing difficult trading conditions, with external factors including NSW and Federal elections, potentially further impacting performance of the property market and McGrath."
Based on the unaudited management accounts year to date, the company has generated an underlying EBITDA loss for the eight months ended 28 February 2019 of $4.5 million, including the seasonally lower January and February months.
It had been reported the company had suffered a loss of $2 million in earnings before interest tax depreciation amortisation (EBITDA) over January and February.
"Market conditions remain difficult to forecast and if current trends continue, further losses in the final quarter are expected," Lucas noted.
 
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McGrath Estate Agents' dip in earnings worsens

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The recently refurbished and fully-occupied The PC commercial building in CBDRobina has been listed by Robina Group.
The PC is the home of business incubator, Gold Coast Innovation Hub, and Australian travel specialist, Helloworld.
It is a premium three-storey commercial office building, with a net lettable area of 2,11 2sqm is located at 36 Laver Drive in the heart of CBDRobina.
The building has a WALE of 4.4 years and is generating a gross building income of approximately $1 million per annum.
Last year The Gold Coast Hub signed a five-year lease, with two five-year options, for 1,822 sqm of space over three levels, including a fully-equipped event centre seating over 100 people.
Helloworld also moved into The PC, leasing a 290 sqm first floor office on a five-year lease, with a five-year option.
Knight Frank Australia Gold Coast partner and joint head, Mark Witheriff, will handle the sale of The PC in conjunction with Knight Frank Melbourne commercial sales head, Paul Henley, through an offers to purchase campaign, closing 17 April 2019.
Mr Witheriff said he expected strong interest in The PC due to its high-profile status, outstanding tenant profile and recent extensive refurbishment.
The building also includes 64 car parking spaces, comprised of secure basement and street-level visitor bays.
Mr Witheriff also said the entire The PC building was approved by Gold Coast City Council for medical and commercial office use.
Robina Group CEO Hylton Slater said The PC was a further example of the strength of Robina’s office market.
“High-performing commercial buildings with an exceptional tenant profile such as this are tightly-held in CBDRobina and rarely become available for sale, and as such we predict high demand for this asset,” he said.
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The PC Robina office building listed for sale

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The 3.5 star Best Western Zebra Motel in Coffs Harbour has been put on the market. 
CBRE’s James Carrick  has been appointed to sell the coastal city’s 3.5 star largest leasehold motel.
Situated at 27 Grafton Street, on the edge of Coffs Harbour’s CBD, the Best Western Zebra Hotel consists of 46 guest rooms across two levels, 50-seat dining and bar area, two-bedroom manager’s residence and onsite parking for 41 vehicles.
The hotel is being sold on behalf of a local independent operator.
“The current operator has invested significantly in both internal and external improvements, which has been pivotal to the property’s strong patronage and upward income trajectory,” Mr Carrick said.
“The opportunity to operate a quality venue unrivalled in the 3.5 – 4 star market and underpinned by the Best Western brand is expected to ignite strong competitive interest. It is perfectly positioned for an experienced team to reap the benefits of the healthy earning opportunity and coastal lifestyle, with scope for investment style syndicate or funds management group to run under a management model.”
Set on a 3,296 sqm landholding, the motel is within walking distance to all major CBD amenities.
The leasehold is being offered for sale via an expressions of interest campaign closing April 18.
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Best Western Zebra Motel in Coffs Harbour listed

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The recently upgraded 300 Adelaide Street has attracted seven new tenants in the last six months, leasing a total of 1,433sqm within the building. 
Kelly Moon and Simon Petrie from Colliers International were appointed by LSH Property Australia as marketing agents in October last year.
Three tenants that were confirmed this year include Karam Boutique Residential and Lockton Companies taking up 222sqm and 244sqm respectively on level 8; and Aura Wealth taking up 155sqm on level 14. 
The other four tenants that were confirmed in Q4 2018 were Yes Digital who took up up 353sqm on level 18; Mako Gold (156sqm), McLeod Partners (208sqm), and Luppinos Hair Salon (95sqm). 
The lease terms range from 5 to 7 years with rent ranging from $575 to $600 per sqm. Level 8 tenancies were brand new to specification fitouts, while level 14 and 18 will be new fitouts which are currently under construction. 
“The building has undergone an extensive refurbishment to end-of-trip facilities, lobby and amenities on each level which has attracted a lot of tenants who have been in the market looking for space over the last six months,” said Mr Petrie. 
“We have partnered with the LSH Property to create a community of complimentary businesses so they can benefit from each other’s networks.”  
Mr Moon said “We are currently getting good engagement from full and multiple floor tenants who appreciate the value proposition of 300 Adelaide Street. There are also limited part floor options ranging from 115 to 282sqm.” 
Recent upgrades to the building include a hotel style end of trip facility with complimentary towel service and ironing stations, upgraded ground floor lobby and amenities on each level. 
Further services are to be added to the building in the upcoming months through the implementation of a concierge service, online tenant portal and conference and meeting centre on level 4
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Upgraded 300 Adelaide St in Brisbane attracts seven new tenants

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Office values will continue to grow in 2019 following another record year which saw investment in Australian office assets surpass the $20 billion mark for the first time, according to Colliers International’s latest report
In their new Capital Markets Office Investment Review they found, more than $21.9 billion worth of office assets changed hands nation-wide in 2018. 
It's first time that sales volumes have breached the $20 billion mark and the fifth year in a row that sale volumes have been higher than $15 billion.
It is an 15% increase on 2017 investment levels and an 84% increase on the 10-year average. 
Domestic purchasers were the most active in the market, purchasing 51% of all assets by total dollar volume, despite the largest single transaction – Oxford Properties’ buyout of the Investa Office Fund for $3.4 billion in December 2018 – being to a Canadian buyer. 
The report found "institutional investors dominated both selling and buying activity, buying 77% and selling 69% of the total transaction value. Private investors were net sellers of $1.77 billion."
John Marasco, Colliers International Managing Director of Capital Markets, said, "continued strong demand in Sydney and Melbourne, coupled with improving demand fundamentals in Perth, Adelaide and Brisbane, means that we expect ongoing yield compression and rental growth will be the driver for office capital value growth across most markets in 2019."
“We now have $260 billion worth of major transport infrastructure projects under construction or planned across 315 projects in Australia, up from $211 billion across 260 projects only three years ago. This spend is in response to the strong population growth, and will further boost property markets for years to come."
Anneke Thompson, Colliers International National Director of Research, said all markets recorded capital rate compression in 2018, with an average of 20 basis points of prime grade compression recorded across CBD office markets. 
“As at December 2018, we have recorded a remarkable 27 consecutive quarters of cap rate compression, with this compression cycle starting in June 2012."
“What is also notable is in 2018 we recorded the lowest level of compression since mid-2014, indicating that this cycle is nearing its end.” 
 
According to the report, employment gains are getting stronger. 
“The drop in vacancy in Australian office markets, from 9.6% in January 2018 to 8.5% in January 2019, has been a function of both reducing supply and solid demand. There is now 100,000sqm less office space in Australian markets than there was two years ago,” Ms Thompson said. 
“Compare this against a solid jobs market over the same time period – the seasonally adjusted Australian unemployment rate has dropped from 5.8% in December 2016, to 5% in December 2018, which represents an additional 682,000 persons employed – and the supply demand imbalance starts to become clear.” 
“While certain markets, such as Sydney and Melbourne CBD and Metro office markets, still offer investors the opportunity for good income growth over the next two years, the yield compression cycle is seen to be nearing its trough,” Mr Marasco said.
“Vacancy continues to decline in Brisbane and Perth, and the Adelaide CBD in particular saw a record ten CBD sales over $20million in 2018, totalling $902million. Yields in Adelaide remain higher than the east coast markets which has seen significant compression over the past few years. The Adelaide market is expected to remain strong, driven by rental growth, falling vacancies, decreasing incentives and all-time high business sentiment."
“Mergers and Acquisitions was a theme in 2018 and we believe will continue into 2019."
The report found 2019 would also be characterised by the rise of alternative lenders and “borrowing outside the framework”. 
“For office assets or funding requirements that don’t sit neatly within major bank criteria, alternative lenders, such as offshore banks, sovereign wealth funds, family offices, fixed income specialists, life insurance companies and debt funds, are most certainly open for business,” Mr Marasco said. 
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Australian office investment passes $20 billion for first time ever

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There is growing confidence in the Brisbane CBD office market, according to Ray White's latest Between the Lines report.
The report showed that the improved sentiment is being aided by the growth in employment and the rising population helped along by interstate migration.
In their research Ray White showed the vacancy situation had improved, due to both stock withdrawals and strong levels of take-up.
Plus The future saw limited short-term new supply on the horizon and ongoing absorption would ensure the outlook is much brighter than prior years. Ray White Head of Research Vanessa Rader said, “strata sales volumes for 2018 were down 24.25 per cent on previous years for office stock, representing $21.104M, but a large retail transaction saw the total volume up 77.10 per cent to $54.979M."
“This sale was the ground and mezzanine floor at 108 Albert Street, selling for $32M and represented a yield of 5.50 per cent, this included 1,047sq m and five parking spaces.” Ms Rader said the total Brisbane CBD office market had enjoyed a reduction in vacancy in the January 2019 office market report. “Currently recording 13 per cent vacancy (288,999sq m), this is down from 14.7 per cent in July 2018, and 16.2 per cent 12 months ago,” she said. “While withdrawal of stock has been strong over this past year, absorption of stock has rebounded, keeping vacancies further compressed. “Considering vacancy by quality grade, highlights the clear flight to quality which has emerged, but also with affordability in mind. “Increased demand is most notable for A grade stock, currently representing 9.9 per cent, down from 12.8 per cent in January 2018.” Ray White Commercial Queensland Director - Office Leasing Jason Hines said economic indicators for the Queensland market had shown improvement over the second half of 2018, with further progress forecast during 2019. “Interstate migration has swung back to Queensland off the back of improved employment options with a greater volume of the population also seeking the affordable lifestyle that's on offer,” Mr Hines said. “This improved employment has seen office occupation increase slowly, with vacancies now reduced albeit still ahead of their 10-year average rate of 9.6 per cent, which has kept rents steady.” Mr Hines said strata capital values currently averaged $4,550/sq m, this was slightly down (0.68 per cent) on the 2017 result and despite representing the sixth period of decline, the wide range of values gave confidence that an improvement was imminent. “Capital value results has seen an increase in the lower range to $3,200/sq m, while the upper range has grown to $7,200/sq m,” he said. “This highlights the vast quality of stock for Brisbane CBD strata assets and the discount attributed to D grade properties, as well as larger suites. “Small (sub-100sq m) higher grade stock continues to be sought-after by savvy occupiers looking to secure attractive premises for their own businesses. “We expect this level of owner occupier interest to increase throughout 2019, particularly if market fundamentals for the Brisbane CBD continue to improve.”
Some examples of Brisbane CBD office deals include:
<img src="https://lh4.googleusercontent.com/ozeesvh1A8Mh2p0YdbueNi5n0oQUvySqzeJQCIO54lprTKl8xxStZXM4titrV3em9ErZzBxxpjI_eUjpTkuFMW0XY1Ex7C7hZoK9Wbmyu3zk6Cv3Bp8MULnM_8zmMI6skjcSFsia">
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Confidence growing in Brisbane CBD office market: Ray White

Developer <a href="https://www.apartments.com.au/developers/bottega-property-group">Bottega House</a> has secured council approval for its first Brisbane project - a $270 million luxury residential development on an absolute riverfront site in leafy St Lucia.&nbsp;

The 15-storey project, known as <a href="https://www.apartments.com.au/new-apartments/st-lucia-by-bottega-house-180-macquarie-street-st-lucia-qld-4067">St Lucia by Bottega House</a> , will occupy a prime north-facing site at 178-180 Macquarie Street, directly fronting the Brisbane River in the established inner-west suburb known for its rowing clubs, golf courses and sprawling University of Queensland campus.&nbsp;

St Lucia by Bottega House will feature a suite of amenities including dedicated wellness spaces, a mineral pool and cold plunge. The project has been positioned to attract affluent owner-occupiers seeking high-quality, house-sized apartments.&nbsp;

Bottega House has been set up by co-directors Nick Malloch, Louis Mennes and Craig Marsh.

Malloch said the project drew inspiration from its Brisbane River setting and leafy inner-west surrounds, while responding to the demands of discerning locals looking to transition from freestanding homes into apartment living.&nbsp;

"With an expansive river frontage and lush green surrounds, we knew we had to create something special that reflects the natural beauty of the location while offering residents masterfully crafted homes," said Malloch.&nbsp;

"Our intent was to complement the project's quiet, private setting by introducing residences that offer a calm retreat and sanctuary from the everyday. The result is a harmonious blend of architecture, interiors and amenity that emphasises wellbeing, comfort and beauty without excess."&nbsp;

Malloch added that project consultants had been carefully selected in alignment with Bottega House's commitment to care, quality and attention to detail. The design team includes architects <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a>, interiors practice <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and landscaping by <a href="https://www.apartments.com.au/architects/urbis">Urbis</a>.&nbsp;

Three-bedroom apartments are expected to start around $5 millio. Selling agents Keenan &amp; Byrne said the pricing strategy for the project was anticipated to achieve upwards of $25,500 per square metre.&nbsp;

The project's development approval this week follows the success of Bottega House's inaugural Queensland project - a 22-storey collection of full-floor sky homes at Broadbeach on the Gold Coast which included the sale of a two-storey penthouse at a record price for a beachside residence.&nbsp;

St Lucia by Bottega House is expected to launch to market in November, with construction anticipated to be completed mid 2029.

[smartcode_project_cta:default project_id=151826]

Joel Robinson

Bottega House to make Brisbane debut with St Lucia riverfront apartment development

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> is advancing its affordable apartment model into Brisbane with the acquisition of another site at Cordelia Street in South Brisbane for $27 million.

Sherpa, which has a $1.7 billion pipeline across Southeast Queensland, intends to bring a cohort of apartments exclusively for first homebuyers into its proposed 186-apartment project to be built at 2 Cordelia Street.

The Sherpa model has already been incredibly well received from their Gold Coast projects, where Sherpa Group set aside a number of apartments exclusively for first homebuyers.

The new $320 million project marks Sherpa Group's second development in Brisbane, following its $255 million Symphony project, also on Cordelia Street, which is currently under construction.

Symphony will deliver 146 apartments across 28 levels, offering a mix of one, two and three-bedroom apartments. With 114 already sold, construction by <a href="https://www.apartments.com.au/builders/lps-group">LPS Group</a> is scheduled for completion in 2028.

[smartcode_project:default project_id=7574 project_image_fid=351654]

Sherpa Founder, Christie Leet, said the company was excited to be venturing into Brisbane for its second residential project.

“We’re big believers in the future of Brisbane as we lead into the 2032 Olympics and beyond,” Leet said.

“The success of Symphony has guided us into what will be our second project and we look forward to submitting our plans with council soon so we can deliver yet another quality project to the inner city residential market.

“Our Flourish model has been very well received both in Brisbane and the Gold Coast, and we’re excited to be able to offer some of these apartments again exclusively to first homebuyers to help get them into the property market.

“The model has been extraordinarily well received in our previous projects and it is something we are committed to moving forward.”

2 Cordelia Street will be designed by <a href="https://www.apartments.com.au/architects/hal-architects">HAL Architects</a> &amp; Finegrain and will include Sherpa’s signature residential amenities including pool, gym, recreation, wellness and work from home spaces.

The project will feature ground-floor commercial space, creating a vibrant amenity for residents and the surrounding community.

A development application will be lodged with Brisbane City Council in August on the code compliant site and will be launched to the market early 2027.

Sherpa acquires new site for second Brisbane apartment tower

One of North Sydney's best-known commercial buildings could become hundreds of new homes, with insurance giant Zurich Australia lodging a State Significant Development Application (SSDA) to transform 5 Blue Street into a mixed-use residential development above North Sydney Station.

Rather than demolishing the existing building and starting again, Zurich is proposing an adaptive reuse project that would convert the landmark office building into a 15-level residential development delivering 62 apartments, 86 affordable co-living dwellings, activated retail and significant upgrades to the Blue Street Plaza.

The proposal reflects a growing trend of commercial property owners repositioning ageing office assets into residential housing as Sydney grapples with housing supply shortages and changing workplace demand.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="0bba7d12-06dc-4375-aad7-238c94b21ac5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.42.05%E2%80%AFAM.png?VersionId=NJl5oLAEBDGuPmY3RnyliKODjMc8lvRh" />

Located directly above North Sydney Metro and train station, the 3,051 sqm site occupies one of the most strategically positioned parcels of land on Sydney's Lower North Shore.

Designed by fjcstudio, the proposal seeks to retain and adapt much of the existing structure while creating a contemporary residential address that better connects with the public domain surrounding North Sydney Station.

The application proposes two basement levels, ground floor retail, affordable co-living accommodation across the podium levels, and apartments above, while preserving and enhancing the publicly accessible Blue Street Plaza.

Rather than pursuing maximum apartment numbers, Zurich has opted for a housing mix heavily weighted towards larger owner-occupier residences.

The proposal includes 62 build-to-sell apartments comprising 12 one-bedroom, 19 two-bedroom, 29 three-bedroom apartments and two premium penthouses. It also incorporates 86 affordable co-living dwellings, which would be managed in perpetuity by a Community Housing Provider.

That balance between traditional apartments and affordable housing reflects the NSW Government's push to increase housing diversity around major transport infrastructure.

The proposal has been lodged concurrently with a rezoning application, with Zurich arguing the site is ideally positioned to support additional housing given its immediate proximity to public transport, employment and services.

"The proposal aims to respond to the housing challenges facing Sydney through the delivery of diverse housing types in a highly accessible location," the design report by fjcstudio states. It also seeks to improve pedestrian amenity through upgrades to Blue Street Plaza while creating a high-performing residential building that responds to the surrounding context.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="36082e15-c636-4481-bb68-5a5f6443fe39" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.41.36%E2%80%AFAM.png?VersionId=5P6VD.fvmqjQfIG3TWWMRXxQWiQBjeFB" />

Rather than replacing the commercial building, fjcstudio has developed a design that works with the existing structural framework above the rail corridor, an approach that significantly reduces demolition while allowing the site to be repositioned as a mixed-use residential precinct.

The existing structural constraints have informed much of the building's design, including its relationship with Blue Street and surrounding public spaces.

The building has been designed as a slender tower rising above a clearly defined podium, with vertically expressed façades intended to reduce the perceived bulk while reinforcing North Sydney's emerging skyline.

According to fjcstudio, the architectural language responds directly to the surrounding commercial towers while maintaining a finer grain expression more closely aligned with the neighbouring Lavender Bay streetscape.

The tower incorporates articulated façade elements, landscaped podium edges and recessed upper levels to soften its appearance and improve pedestrian amenity below.

A significant component of the proposal is the revitalisation of Blue Street Plaza.

The existing public space has long served as one of the primary pedestrian connections between North Sydney Station, Greenwood Plaza and Blue Street, yet its role is expected to become even more important following the opening of Sydney Metro.

Zurich's proposal seeks to strengthen that role by improving landscaping, introducing new retail frontages, enhancing pedestrian permeability and creating more active edges throughout the day and evening.

Ground floor retail would wrap the plaza, while separate residential and co-living entries have been designed to improve wayfinding without reducing street activation.

Landscape design has been integrated throughout the podium and public realm, softening what is currently one of the most heavily urbanised parts of North Sydney.

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fjcstudio has carefully oriented apartments towards Sydney Harbour and the CBD while using privacy blades and articulated façades to minimise overlooking between neighbouring buildings.

Large framed openings along the western elevation maximise harbour outlooks, while the eastern apartments have been angled towards the south-east to improve privacy from neighbouring development.

The project forms part of the continuing transformation of North Sydney from a predominantly commercial CBD into a genuine mixed-use city centre.

Since the completion of Victoria Cross Metro Station, developers have increasingly shifted their attention towards residential projects capable of leveraging the area's unparalleled transport connectivity.

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FiveX recently lodged plans for a 61-storey, 490-apartment tower that would become one of the tallest residential buildings in North Sydney if approved.

Aqualand continues to expand its Lower North Shore presence following the completion of AURA on Walker Street and its recent St Leonards and Roseville proposals.

Developers are also progressing projects throughout Walker Street, Miller Street and the Victoria Cross precinct as demand for well-located owner-occupier apartments continues to strengthen.

First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station

Busy developer Aqualand Prestige has formally taken the next step in its expansion across Sydney's Lower North Shore, lodging a State Significant Development Application (SSDA) for its long-held Archer Street site in Chatswood.

The application covers <a href="https://www.apartments.com.au/new-apartments/51-55-archer-street-chatswood-nsw-2067">51-55 Archer Street</a>, a 1,767 sqm amalgamated site on the eastern edge of the Chatswood CBD, where the developer is seeking approval for a 45-level mixed-use tower delivering 114 apartments, including a significant affordable housing component, alongside retail, commercial space and six basement levels of parking.

The SSDA marks the latest milestone for a project Aqualand has been quietly progressing over the past two years. The developer first secured the site for its Aqualand Prestige platform before undertaking an alternative design excellence process with PTW Architects, ultimately avoiding a formal design competition through the Housing Delivery Authority pathway.

The proposal has evolved considerably from Aqualand's original concept. The revised scheme has been designed around larger owner-occupier product, with an unusually high proportion of three and four-bedroom apartments, targeting the more affluent buyer profile, and downsizer, emerging across the North Shore.

<img alt="Archer St" data-entity-type="file" data-entity-uuid="0171204c-5811-41b5-9b09-2335d1b7c3d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%208.52.48%E2%80%AFAM.png?VersionId=6YTuxfq.puZo7k2wbfgemcO5K3QfXYGQ" />

The 114-apartment mix comprises six studios, 27 one-bedroom apartments, 18 two-bedroom apartments, 50 three-bedroom residences and 13 four-bedroom homes. A quarter of the building will be dedicated to affordable housing, well above the mandated 15 per cent&nbsp;

PTW has structured the building vertically, with affordable housing across levels one to six, premium apartments through levels seven to 31, duplex skyhomes on klevels 32 to 43, a penthouse on level 44, and a rooftop plant level above. Six basement levels will provide resident parking and servicing.

The tower is proposed to reach approximately 154 metres, placing it among a growing collection of residential high-rises transforming Chatswood's skyline.

Rather than competing purely on height, PTW says the design has been driven by creating a slimmer tower capable of delivering significantly larger apartments.

"The primary objective of this project was to create a distinctive building that stands out from the recently approved or built structures in the Chatswood area," the design report states, noting the structural efficiency allows greater investment into apartment quality and resident amenity.

Residents would have access to more than 450 sqm of communal open space including landscaped gardens, swimming pool, rooftop entertaining areas, fitness spaces, community gardens, children's play areas and barbecue facilities.

A major focus of the design has been the public domain.

The ground plane has been opened up through landscaped terraces inspired by Willoughby's sandstone ridges, with native planting, public seating, artwork, retail activation and a series of gathering spaces intended to soften what has traditionally been a hard commercial streetscape.

The landscape strategy references Blue Gum forests once common throughout the area, while incorporating Indigenous storytelling, public art and lighting installations to strengthen the connection to Country.

Chatswood has been one of Sydney's busiest apartment markets over the past 12 months, with a steady pipeline of both new project launches and fresh development applications.

Hyecorp recently launched Celine, a 122-apartment development just along Archer Street, while Changfa and Huirong Group are progressing The Anderson, an 84-apartment project on Anderson Street.

Develotek recently secured approval for a 101-apartment tower on Pacific Highway, while Tian An LFD received the green light for Hammond Greens, its apartment development on the edge of the Chatswood Bowling Club.

Commercial property developer FiveX is also making its move into the residential market. Last month it lodged plans for a 61-storey tower with 490 apartments, which, if approved, would become one of the tallest residential buildings in Chatswood.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-targets-chatswood-skyline-with-61-storey-tower-after-north-sydney-plans">First look: FiveX targets Chatswood skyline with 61-storey tower after North Sydney plans</a>

Aqualand is also expanding its development pipeline following the launch of its luxury residential brand, Aqualand Prestige. The developer has delivered a string of high-end apartment projects across Sydney's affluent suburbs over the past decade, most recently AURA by Aqualand on Walker Street in North Sydney.

[smartcode_project:default project_id=30959 project_image_fid=292863]

It has since quietly assembled its next wave of projects.

Earlier this year Aqualand launched Boronia in Roseville, a boutique 111-apartment development on Larkin Street. The project is one of the first significant apartment developments to launch in the suburb ahead of what is expected to become one of Sydney's most active new housing precincts under the NSW Government's Low and Mid-Rise Housing reforms, which allow greater density around train stations.

[smartcode_project:default project_id=152095 project_image_fid=373685]

The developer has also lodged plans for a two-tower, 413-apartment development on Herbert Street in nearby St Leonards, further strengthening its presence across the Lower North Shore.

Beyond that, Aqualand remains behind the final stage of Barangaroo, where plans will deliver a five-hectare mixed-use precinct comprising new homes, retail, hospitality and community facilities, alongside a new Metro entrance and more than two hectares of public open space, completing the Barangaroo precinct.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/central-barangaroo-development-takes-big-step-with-concept-proposal-approval">Central Barangaroo development takes big step with concept proposal approval</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-aqualand-joins-st-leonards-apartment-party">First look: Aqualand joins St Leonards apartment party</a> 
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First look: Aqualand pushes ahead with Chatswood apartment tower as SSDA lodged for Archer Street

Mass timber is becoming an increasingly popular construction material in apartment developments, but Adelaide developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> is taking the approach a step further.

At its new <a href="https://www.apartments.com.au/new-apartments/flowe-bowden-18-gibson-street-bowden-sa-5007">Flowe Bowden</a> development, the exposed cross-laminated timber (CLT) structure isn't just about reducing the building's environmental footprint. It also forms the foundation of a broader wellness strategy, influencing everything from indoor air quality and natural materials to the way residents move through and experience the building.

The 115-apartment mixed-use development, designed by Melbourne-based architecture practice Fieldwork, will occupy a prominent island site opposite Bowden Village Reserve, combining one, two and three-bedroom apartments with retail and a dedicated wellness destination.

[smartcode_project:default project_id=152022 project_image_fid=375528]

Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.

The development has been split into two residential wings connected by a naturally ventilated central breezeway, replacing traditional enclosed corridors with open-air walkways that improve natural light, encourage cross ventilation and create more opportunities for neighbourly interaction.

"Rather than treating wellness as something that only happens on the ground floor, our response integrates it throughout the building, which led us to ask what it really means to design a healthy building," Fieldwork Director Quino Holland said.

[smartcode_project:default project_id=152022 project_image_fid=375531]

The building's architecture also reflects Bowden's industrial heritage. The lower podium references the area's historic brick and sandstone buildings, while the upper levels transition to exposed CLT, allowing the timber structure to become a defining feature throughout the apartments and shared spaces.

The use of mass timber sits alongside a range of sustainability initiatives, including a fully electric, gas-free design, rooftop solar and a targeted 5 Star Green Star rating.

[smartcode_project:default project_id=152022 project_image_fid=375524]

Inside the residences, the focus remains on natural, durable materials. Blackbutt engineered timber flooring, exposed CLT ceilings, porcelain surfaces and warm timber joinery create a calming interior palette, while low-VOC finishes and responsibly sourced materials have been selected to improve indoor air quality.

Kitchens have been designed as the centrepiece of each apartment, featuring porcelain island benchtops, timber-look cabinetry and brushed steel tapware, with layouts that maximise natural light and ventilation.

[smartcode_project:default project_id=152022 project_image_fid=375530]

The more traditional interpretation of wellness comes in the form of Level Eleven, a two-storey wellness club spanning the ground floor, mezzanine and first floor.

The facility will include a gym, yoga and reformer Pilates studios, Finnish and infrared saunas, magnesium hot and cold plunge pools, and dedicated recovery spaces. Unlike many residential wellness facilities, Level Eleven will also operate commercially, allowing the broader Bowden community to access the venue while giving residents exclusive membership benefits.

The ground floor has also been designed around everyday living. A café overlooking Bowden Village Reserve will activate the street frontage, while a bike workshop with tool storage, co-working space and dog wash has been incorporated to support daily routines and encourage interaction between residents.

"Flowe brings together my two biggest passions, creating places and creating healthier lives," Otello founder Daniel Harris said.

"We wanted to create something Adelaide hasn't seen before, a genuinely healthy building, where the way you live is lifted without even trying."

Flowe is positioned directly opposite Bowden Village Reserve and within walking distance of Bowden Railway Station and the Adelaide Entertainment Centre, placing future residents just minutes from the Adelaide CBD while remaining connected to one of the city's most established urban renewal precincts.

[smartcode_project_cta:default project_id=152022]

Staff reporter

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