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GUEST OBSERVER
As the saying goes: 
<ul>
<li>there are the things that you know; </li>
<li>the things that you know that you don’t know (the known unknown); and </li>
<li>the things that you don’t know that you don’t know (the unknown unknown). </li>
</ul>
The recent Grenfell Tower fire tragedy in London highlights the potential catastrophic consequences of failing to find out the unknown unknown things and/or failing to take action to appropriately deal with the necessary things once known, such as the condition and performance standards of the materials in the building along with the necessary maintenance obligations of the body corporate.
There has been considerable media attention around the widespread existence of non-conforming building materials and potential devastating ramifications for bodies corporate. This article is aimed at the practical and proactive steps which bodies corporate can take to empower themselves and protect their lot owners and residents.
It is certainly true that the effective maintenance of strata title buildings is a complex affair. The contracts for the construction of the buildings on scheme land are entered into between the developer and the builder, long before the lot owners are ever in the picture. This means that; the lot owners have no input into the selection of materials or the standards of construction, and they are often unaware of the location of essential documents for the proper administration of their schemes, including construction contracts, plans and specifications.
This means that the body corporate and lot owners inherit the building with often unknown building materials; unknown latent conditions and they are unaware of the maintenance requirements for their particular building. This also has a direct effect on effectively budgeting for the future expenditure to properly maintain the building in order to maximise its effective lifespan.
Add to this the fact that there is a high amount of change within bodies corporate, which exacerbates the difficulty in managing vital information about the building. Lot owners sell, body corporate managers can change from year to year, resident managers can sell their management rights and committees often change each year. What this means is that the collective knowledge of all of the people who have been involved in the building is rarely centralised and as a result, key information and documentation is often misplaced along the way or is never obtained in the first place.
We recommend that bodies corporate take control of their information and documentation by implementing a building management document or plan. By the committee working in with the body corporate manager to create a bespoke plan for the operation and management of their building, bodies corporate will be able to identify what they know, what are the known unknown things about the building, and what unknown unknown things about their building (which are generally discovered by expert reports and professional advice). Additionally, this information is to be documented and centralised so that the body corporate does not lose this information as lot owners, body corporate managers, resident managers and committees change over time.
As part of the process of creating the building management plan, it is essential for bodies corporate to know the current (point-in-time) status of their building and documentation. For this reason, we highly recommend engagement of an expert, or team of experts, to enable the body corporate to “catch up” on the history of their building by obtaining all necessary documentation and obtain a status report as to the condition of their building as at today. This information and documentation can then be included in the building management plan and future obligations and expenditure for the building can be informed by this information. Additionally, all new occurrences at the building can be recorded in the building management plan as time goes on so that committees have the information which the need to effectively act on behalf of the body corporate to make decisions within their authority and to properly inform the lot owners in order for them to make effective decisions at general meetings.
Building condition and maintenance is only one of the many things which we recommend is included in an effective building management plan. If bodies corporate know what they know, know what they don’t know, and find out the unknown unknown things, then they are in a much greater position to plan for and make effective decisions on all matters which can have an effect on their building.
Hopefully, such an approach can enable bodies corporate to minimise or prevent financial and physical disasters.
James Nickless is partner of <a href="https://www.clarkekann.com.au/newsroom/combustible-cladding-audit?utm_source=Mondaq&amp;utm_medium=syndication&amp;utm_campaign=View-Original" target="_blank">ClarkeKann Lawyers</a>. 
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j.ballantyne1990-6AQqhLzZaK

Combustible cladding is just one of many essential building owners issues: CK Lawyers

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A stylishly renovated 1870 Victorian home in Prahran was sold ahead of its auction scheduled for last weekend at $3.25 million.
Jellis Craig agent Andrew McCann said the sellers accepted a strong offer almost two weeks ahead of the weekend.
<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/2017/10/27/Prahran1.jpg" alt="">
The vendors has bought the three-bedroom house in a derelict state eight years ago.
The renovation was undertaken in collaboration with March Studio and MCO-llection who transformed the double brick 1870 Victorian home in its cul-de-sac location.
The property at <a href="https://www.realestate.com.au/sold/property-house-vic-prahran-126512698" target="_blank">1 Trinian Street</a> had a price guide of $2.5 million to $2.7 million.
<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/2017/10/27/Prahran2.jpg" alt="">
 
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Renovated 1870 Prahran trophy home sells pre-auction

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Canada's Saputo is set to be named preferred bidder for the operations of embattled milk processor Murray Goulburn, Australia’s largest dairy processor.
The rumoured sale price is around $1.1 billion, with the Moelis-advised Saputo the last standing.
Parmalat was a prospect and Bega Cheese released a statement to the ASX saying it was “no longer a potential purchaser”.
The Murray Goulburn chair John Spark, who will update the co-op today, has bankers increasing the pressure on the cash-starved dairy co-op.
Competition issues could now be raised if Saputo wanted to buy Murray Goulburn where the price consists of net debt of about $450 million and equity in the $550 million, according to The Australian..
The MG stock price has increased from about 65c in September to 82c, but still well below the $2.42 float price in 2015.
Others potential buyers are in the background including French-based Parmalat, along with two Chinese firms — the Lazard-advised Mengniu Dairy and BAML-advised Yili.
The UBS-advised Wilmar is also in the wings along with Rothschild-advised New Zealand giant Fonterra, which has been described by The Australian columnist John Durie as the wildcard in the battle.
The Australian Financial Review's Street Talk noted that after days of negotiations, Saputo emerged yesterday as the leading contender, with an announcement to shareholders and farmers expected at its annual general meeting in Melbourne on Friday.
Murray Goulburn has been under pressure after its milk intake plunged following a decision to retrospectively cut milk prices last year.
</div>
<div>
In August it reduced its milk intake guidance for 2017-18 to just 2 billion litres, down from 3.5 billion litres in 2016.
</div>
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Canada's Saputo likely to bid for Murray Goulburn milk processor 

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Australian Prudential Regulation Authority chairman Wayne Byres told a Senate committee yesterday that he is worried some home loan borrowers have not properly considered the impact of rising interest rates.
He suggests these borrowers might be wrong to assume future wage growth will help retire their borrowings.
Low interest rates are "making high debt levels affordable and that won't always be the case, and that's at the heart of what we are thinking about," he advised.
He's urged bankers to exercise caution because there "a lot of things that seem at extremes".
"Household debt levels are very high relative to household income in particular…and is still on an upward trajectory," Mr Byres said.
"Interest rates are at historically low levels and household income growth is actually relatively subdued, so the idea that people will pay their debs off in the future just because their income will grow strongly is not an assumption you can necessarily make."
He told the senate committee APRA continued to work to reinforce sound lending standards.
"The measures we’ve taken appear to be having a positive impact with strengthened serviceability assessments, moderating investor loan growth and a reduction in high loan-to-valuation lending, and our most recent benchmark for interest only lending to remain below 30 per cent of total new lending looks like it has been comfortably achieved overall."
Mr Byres said on Monday the household debt-to-income ratio (DTI) would need to be "constrained" before lending limits on banks will be lifted.
He reiterated the DTI ratio was important because it shows the ability of a customer to pay back all their debts, not just a particular loan.
He suggested the DTI will be improved once banks adopt 'positive' credit reporting, overcoming a current "blindspot" of banks not being able to see their customers' full financial picture.
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Given bank blindspot, APRA's Wayne Byres again warns households on the prospect of rate rises

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Fernhill on Sydney’s western outskirts has been resisted for sale after its prospective buyer failed to secure loan and state government approvals to be redeveloped into a cemetery.
Rookwood General Cemeteries Reserve Trust had agreed to purchase the historic Mulgoa property in March for $30 million, but their conditional offer lapsed on Tuesday after Penrith city concerns of the impact of a cemetery on the heritage landscape surrounding the 1840s-built mansion.
The estate is best known as the former home of property tycoon Warren Anderson before bankruptcy forced him out and the keys were handed over in 2011 to his financier Angas Securities.
Businessman Simon Tripp and his wife Brenda were reported as buyers in 2012 after he lodged a caveat on the title claiming an interest, but their arrangement with Angas faltered.
In a statement this week Rookwood General Cemeteries Reserve Trust chief executive George Simpson said "with no formal approval from the Minister at this time RGCRT is unable to proceed with the purchase of Fernhill estate. As such, we understand the vendor will place the property back on the market.”
Listing agent Ken Jacobs, of Christie’s International, appears set to resist Fernhill which was built by the Cox family in the 1840s and remained in the family until 1896 when it was sold to the Wright family, of the Wright, Heaton and Company carrying firm.
The eight-bedroom homestead has a 16-seater dining room and a ballroom
The original stables were home to two Melbourne Cup winners, Chester in 1877 and Grand Flaneur in 1880, and the sandstone building next to them dates back to 1812.
Last year and again earlier this year debenture company Angas ­Securities faced the prospect of receivers to oversee its return of the $135 million owed to investors, but fear of a fire sale saw Angas Securities retain control of its flagship fund.
Some 2000 investors were told they must to wait another two years for their money to be returned given Angas's borrowers had fallen into arrears.
“Almost all of Angas’ remaining loan assets are non-performing and all borrowers in respect of loan assets are now subject to external administration,” it told investors.
Warren Anderson told The Australian he had written letters to politicians at all levels of government in an effort to save the estate from being turned into a cemetery. “I’m ­absolutely happy,” he said. 
He praised Minister for Western Sydney Stuart Ayres, saying he had “seen the light as far Fernhill is concerned” by halting Rookwood’s plans.
 
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Ailing Angas loses yet another Fernhill, Mulgoa buyer

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The Sydney apartment market was now suffering serious falls in certain locations, according to The Australian columnist Robert Gottliebsen.
He said Sydney's building rate for apartments in the city was set to fall by at least 50 per cent which will have a severe downward flow on to economic activity in Australia’s biggest city.
</div>
He tips the big banks will be reporting a significant rise in their problem loans — particularly if global interest rates rise on the back of US tax cuts, though not in the current reporting season.
He says the level of apartment decline is much greater than most were predicting three to six months ago.
The repercussions will quickly spread to Melbourne, although the blows may not be as severe because apartments are much cheaper.
"Brisbane is already in trouble so may be insulated from further big falls," he wrote."
"Those looking for a fall in Sydney dwelling prices will be cracking the champagne today but unfortunately the repercussions will be nasty so the celebrations may be short lived," he added.
"If you want a headline figure, apartments sold as used apartments in the big Sydney apartment estates have fallen by at least 20 per cent.
"The fall rate for individual sales can rise to 25 per cent," although no further details were given.
"However the price fall in new apartments bought either off the plan or as the developer sells a completed apartment are down in the vicinity of 12 per cent."
He blames fewer deductions from depreciation for the gap.
"Very quietly in the last budget, Treasurer Scott Morrison stopped the deduction of depreciation on used apartments from July 1, 2017.
"That means that for an investor, a used apartment is now worth substantially less than a new apartment — hence the 20 to 25 per cent price fall which is greater than the new apartment decline."
He says the 20 to 25 per cent fall in used near city apartment prices will not be duplicated across the Sydney dwelling market "but auction clearance rates will stay low or fall back and many areas will be soft."
Gottliebsen concluded his article series with the claim the "most dangerous people" are real estate agents "who will be spruiking that there is no crisis and regulators who don’t understand the power of what they have unleashed."
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Gottliebsen says some Sydney unit prices have fallen 25 percent as market has cracked

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A total of 655 new social housing dwellings have been completed and 422 dwellings are currently under construction as a result of the Millers Point sales, as of August 2017.
These fit-for-purpose dwellings are located in a number of areas across the State including Coffs Harbour, Penrith, Jannali and Wollongong.
The latest Millers Point offerings listed by Property NSW, on behalf of Family and Community Services, is a row of two-storey federation-style apartment blocks.
Located at <a href="https://dalgetyroad.com.au/" target="_blank">15-35 Dalgety Road</a>, the six apartment blocks feature verandas to the street and rear yards.
Each block delivers a mix of two and three bedroom apartments.
Situated on the western side of Dalgety Road, the properties are conveniently located within short walking distance to the Barangaroo Reserve, Walsh Bay Arts Precinct, Circular Quay and the CBD.
The apartments will be sold individually as five blocks of four apartments and one block of two apartments.
The properties are marketed by McGrath Estate Agents, via Expressions of Interest closing November 6.
Earlier this month auctions saw seven terrace properties selling under the hammer for a combined $18,741,000.
Commenting on the continued 100% success rate, McGrath agent Lorraine Crawford said it was a very successful night with competitive bidding across all seven properties.
There were 28 registered parties placing 432 bids on the night.
 
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Millers Point sales triggers 655 new social housing dwelling completions

<html><body>More property investors are choosing to use mortgage brokers to secure finance, the third annual Property Investment Professionals of Australia (PIPA) Property Investor Sentiment Survey has found in the face of tighter lending conditions.   The national survey, which gathered insights from 742 property investors, found that 73 per cent of investors used the services of a mortgage broker to secure their most recent loan – up significantly from 65 per cent two years before.   And in the next 12 months, 83 per cent of investors intend to finance their next loan through a broker – up from 71 per cent last year. By far most investors (68 per cent) think it is unfair they have to pay higher interest rates compared to owner occupiers, the results showed.   Yet, despite the changes in lending serviceability over the past two years, the largest proportion of investors (38 per cent) report no difficulty refinancing, although a significant minority (28 per cent) aren’t sure, and 22 per cent said they are having difficulty refinancing.   Given lenders are charging higher interest rates for interest-only loans, 30 per cent of investors said they either have switched or intend to switch to principal and interest repayments, however an even bigger proportion (36 per cent) said they have no plans to switch.   PIPA chair Ben Kingsley said that the survey results confirmed that sophisticated investors were prepared to use professionals to help their grow their portfolios.   "The restrictive lending environment for investors across the nation may have removed some of the speculation out of the market, but is also preventing some sophisticated investors from investing in their financial futures as well as adding to the supply of rental properties," Mr Kingsley said.    "Our survey results show that rather than be defeated, educated property investors are opting to use professionals to assist them to achieve their goals – regardless of the lending environment."</body></html>

Mortgage brokers increasingly sought out by property investors: PIPA survey

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A two level North Adelaide heritage building has been listed for sale at $2.6 million.
Located at <a href="https://www.realcommercial.com.au/property-retail-sa-north+adelaide-502474278" target="_blank">107-109 O’Connell Street</a>, the 528 sqm property previously operated as a bar named ‘The Banque’.
It features front, side and rear balconies and is ideal for café, retail, offices and possible upstairs residence.
There are also seven spacious rooms available with off-street car parking. It last traded in 2006 at $1.65 million, and at $1.1 million in 2001.
It is offered through McGees Property agents Simon Lambert and Rory Butterworth.
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North Adelaide heritage retail building listed for sale

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A five acre resort, Riverglen Chalets, on the north western fringe of the Margaret River townsite has sold for about $3 million.
Nestled amongst huge karri, marri, jarrah and peppermint trees, the <a href="https://www.margaretriverrealestate.com.au/buy-commercial-real-estate/hotel-leisure-27-carters-road-margaret-river-wa-41049132195" target="_blank">27 Carters Road, Margaret River</a> property comprises of 14 timber chalets with private verandahs.
It is close to the town centre, supermarkets, cafes and restaurants.
<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/2017/10/24/Chalet2.jpg" alt="">
Also located on site is a full sized home which provides residence for management, a 10m x 6m shed and a separate function room with bar, barbeque facilities, games and activity equipment.
The site has the potential for increasing the chalets to 20-25 units.
The asset generates a steady returns.
It was sold by Barry Granville of First National.
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Riverglen Chalets, Margaret River sold for $3 million

Article summary

<ul data-end="785" data-start="311">
	<li data-end="459" data-section-id="5hbcyr" data-start="311">Pikos Group has released the five-penthouse collection at Skye Kangaroo Point, headlined by a two-storey sky home spanning more than 1,000 sqm.</li>
	<li data-end="561" data-section-id="1p7lq8n" data-start="460">Early buyer interest suggests the residences could set a new Queensland apartment price record.</li>
	<li data-end="667" data-section-id="1y70z0l" data-start="562">The collection includes four move-in ready penthouses and the highly customised Skye One residence.</li>
	<li data-end="785" data-section-id="yvm0y1" data-start="668">The release caps one of Bri​sbane's most ambitious luxury apartment developments overlooking the Brisbane River.</li>
</ul>

<hr data-end="790" data-start="787" />
Pikos Group has released the five-penthouse collection at its <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye by Pikos</a> development in Kangaroo Point, with early buyer interest indicating the flagship residences could eclipse every apartment sale previously recorded in Queensland.

The collection crowns the luxury riverfront development with five residences, including four completed penthouses and Skye One, a two-level sky home spanning more than 1,000 sqm that will be tailored to its eventual owner.

[smartcode_project:default project_id=90059 project_image_fid=374075]

Wanting to offer a fully customisable home, Pikos is offering Skye One as a blank canvas, allowing the buyer to work alongside the developer's design team to customise the home's layout, finishes and internal spaces.

The residence will feature a 247 sqm private rooftop terrace with its own swimming pool, sauna, steam room, outdoor kitchen and multiple entertaining areas overlooking the Brisbane River and CBD skyline.

The remaining four penthouses have been completed and are ready for immediate occupation, each offering four bedrooms, expansive open-plan living areas, soaring ceilings and private lift access.

[smartcode_project:default project_id=90059 project_image_fid=374059]

One of the defining features throughout the project is its use of Roman Classic Travertine, with more than 20,000 sqm of the natural stone imported from Italy after being personally selected by Pikos Group Founder and Executive Director Pedro Pikos, interior designer Julie Williamson and third-generation stone specialist Mario Caucci.

Pikos said the penthouse collection represented the culmination of the company's long-term vision for Skye.

"True legacy isn't measured by what we build today, but by what endures tomorrow," Pikos said.

"Our ambition is to create places that become more valuable with time, enrich the lives of generations, and stand as timeless landmarks long after we've stepped away."

[smartcode_project:default project_id=90059 project_image_fid=374060]

Williamson said the interiors were inspired by the natural character of Kangaroo Point and the Brisbane River rather than international design trends.

"Materiality tells the story of a place," Williamson said.

"We looked to the movement of the Brisbane River, the texture of the cliff face and the warmth of the surrounding landscape to create interiors that feel understated, enduring and unmistakably Brisbane."

Positioned above the Kangaroo Point cliffs, Skye places residents within walking distance of Howard Smith Wharves, South Bank and James Street while offering uninterrupted river and city views.

[smartcode_project_cta:default project_id=90059]

Joel Robinson

Brisbane's next apartment price record? Pikos unveils Skye's exclusive penthouse collection

Article summary

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289">DVB Projects is preparing to launch its second Gold Coast apartment development, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443">The 34-level tower will comprise just 49 ultra-luxury residences, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574">The launch follows strong demand at DVB's nearby Sea Glass project, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718">The development adds to the transformation of Old Burleigh Road, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.

The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" />

The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.

“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;

“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."

Brown says the site itself is "exceptional."

"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." />

The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.

A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.

Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" />

Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.

“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.

“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.

“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" />

Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.

With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.

[smartcode_project_cta:default project_id=145141]

DVB Projects to launch second Broadbeach apartment tower as demolition commences

A proposal to redevelop one of North Sydney's ageing commercial buildings has taken another step forward, with plans for a 38-storey mixed-use tower adding momentum to the long-awaited transformation of the Alfred Street precinct.

Now on public exhibition through the NSW Government's Housing Delivery Authority-led State Significant Development pathway, the proposal for 271-273 Alfred Street would replace an underutilised commercial building with 95 apartments, ground-floor retail, commercial space and affordable housing. The proposal was submitted by&nbsp;Tara Shore Pty Ltd, acting for the John Taylor Family Trust.

While the project will deliver much-needed housing on the southern edge of the North Sydney CBD, it also represents another piece of a broader precinct that has spent years in planning limbo.

<img alt="First look: New public domain vision underpins 95-apartment North Sydney tower on Alfred Street" data-entity-type="file" data-entity-uuid="7e1ce1b4-38df-48ab-992f-386814d86308" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Alfred%20St%20da%20podium.png?VersionId=sC_h6w.A9VEoB98qsqowPlIoz__sBZBt" />

Despite its proximity to both North Sydney Station and the Victoria Cross Metro, redevelopment of Alfred Street has progressed slowly over the past decade as broader planning controls, zoning and building heights remained unresolved. The introduction of the Housing Delivery Authority pathway has provided a new avenue for projects to progress, allowing rezoning and development assessment to occur concurrently and unlocking sites that have long been earmarked for renewal.

Designed by Office of Cortese &amp; Gilder, the proposal seeks to do more than replace an ageing office building. The architects have positioned the project as the first stage of a wider public domain vision that would improve pedestrian connectivity and create a more cohesive mixed-use precinct as neighbouring sites are redeveloped over time.

The proposal includes a widened Alfred Street setback, new street trees, landscaping and outdoor seating, along with a landscaped through-site pedestrian link connecting Alfred Street with Little Alfred Street. The connection is intended to become the first section of a future east-west pedestrian network extending across the precinct.

<img alt="First look: New public domain vision underpins 95-apartment North Sydney tower on Alfred Street" data-entity-type="file" data-entity-uuid="8ea39ac3-46ad-4562-b4a0-b862e91c2dda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Alfred%20St%20da%20site.png?VersionId=K7umCd21KpetEFuVfsPlnJKhUOsmTTdV" />

The mixed-use tower would comprise retail space at ground level, commercial uses on level two and apartments from level three upwards.

In total, the development would deliver 95 apartments, including nine one-bedroom, 28 two-bedroom, 56 three-bedroom and two four-bedroom residences. Twenty-one apartments, representing 15 per cent of the residential gross floor area, would be secured as affordable housing and managed by a registered community housing provider for at least 15 years.

Nine basement levels would provide 133 resident car spaces, seven motorcycle spaces and 111 bicycle spaces.

According to the Architecture and Urban Design Report, the public domain strategy is designed to transform what is currently an inward-facing commercial edge into a more active and connected pedestrian environment, creating a stronger relationship between the commercial core and surrounding residential neighbourhoods.

Office of Cortese &amp; Gilder has also prepared a broader public domain framework spanning neighbouring properties between 263 and 283 Alfred Street, arguing that a coordinated approach to redevelopment will deliver better public spaces, improved tower separation and a more connected streetscape as the precinct evolves.

The proposal comes at a time where North Sydney is slated for future residential growth. Commercial developer FiveX has residential plans for the neighbouring site at 275 Alfred Street. They've proposed a 39-storey mixed-use tower with 184 apartments, while Freecity was recently approved for nearly 300 apartments across a 51-storey building on Walker Street.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-freecity-gets-green-light-for-mixed-use-apartment-and-hotel-tower-in-north-sydney">First look: Freecity gets green light for mixed-use apartment and hotel tower in North Sydney</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-plans-39-storey-residential-tower-in-booming-north-sydney">First look: Fivex plans 39-storey residential tower in booming North Sydney</a>

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Alfred Street the latest North Sydney pocket to be transformed by residential development

Buyers considering a residence at boutique Gordon townhouse development <a href="https://www.apartments.com.au/new-townhouses/lume-gordon-43-47-dumaresq-street-gordon-nsw-2072">Lume</a>&nbsp;now have another reason to bring forward their decision.

For a limited time, purchasers of a residence at Lume will receive a BMW iX3 50 electric SUV, valued at more than $120,000, as part of their purchase. The offer is designed to add value for buyers while complementing the lifestyle envisioned for the architecturally designed Upper North Shore development.

Scott Timmins, Development Manager at <a href="https://www.apartments.com.au/developers/winim">WINIM</a>, said the partnership was created to provide buyers with a compelling reason to act.

"In today's market, buyers need a compelling reason to act now, and the BMW partnership was designed to create that catalyst. We wanted to add genuine value for our future purchasers. Choosing the all-electric BMW iX3 50 also reflects the values behind LUME, forward-thinking design, innovation and a more sustainable way of living. It's a premium incentive that complements the lifestyle our buyers aspire to and rewards those who commit early."

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Delivered by WINIM in partnership with Burtonwood Investment Partners, Lume comprises 14 architecturally designed two, three and four-bedroom townhomes created for families seeking the space of a freestanding house with the ease of modern, low-maintenance living.

The three-storey residences, designed by award-winning architecture practice <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, have been tailored for families and multi-generational living, featuring private internal lifts, flexible lower-level spaces, generous open-plan living and entertaining areas, media rooms, and landscaped outdoor spaces with custom outdoor kitchens.&nbsp;

Inside, engineered oak flooring, bespoke dining joinery with integrated wine fridges and backlit bars, sculptural porcelain bathrooms, Parisi freestanding baths and Astra Walker tapware create interiors that balance functionality with refined finishes.

Each townhome has been designed to combine generous internal spaces with sustainability initiatives such as EV charging infrastructure, while <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>'s landscaped communal areas, centred around a restored creek line and native planting, encourage residents to connect with nature and spend more time outdoors.

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Rothelowman's Gary Tsui said the architecture was conceived to respond carefully to its Upper North Shore setting.

"Our vision was to create elegant, uplifting homes that draw on and positively contribute to the local character through meticulously considered design and an interaction with the surroundings."

The communal landscape has been designed as more than an open space between homes. Arcadia's Ben Newell and Kate Phillips said the adjoining reserve provided an opportunity to create a distinctive natural retreat for residents.

"Just as waterways carve their way through Ku-ring-gai's landscape, a raised boardwalk weaves through the reserve, connecting the homes to this tranquil oasis."

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Located just 300 metres from <a href="https://www.apartments.com.au/developments/gordon-nsw-2072">Gordon</a> Village and Gordon railway station, Lume offers convenient access to Sydney's CBD while placing residents close to some of the North Shore's leading schools, including Ravenswood, Pymble Ladies' College and Knox Grammar. Lane Cove National Park, Gordon Golf Club and a range of cafés and restaurants further reinforce the family-focused lifestyle on offer, with the BMW iX3 50 complementing everything from local trips around Gordon to weekend drives and city commutes.

Construction is underway with completion expected in mid-2027.

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Boutique Gordon townhomes now come with a BMW iX3 50

Two apartments have sold for more than $10 million at EADE Byron Bay, setting some of the highest apartment prices ever achieved in the coastal town and underlining the growing appetite for luxury beachfront apartments in Australia's most popular coastal locations.

The $210 million project by Vitale Property Group has now secured more than $70 million in sales, led by residences that changed hands for $12.75 million and $11.75 million.

The record-breaking transactions reinforce the shift occurring in Byron Bay's premium property market, where affluent downsizers and lifestyle buyers are increasingly opting for high-end apartments over large beachfront homes.

<a href="https://www.apartments.com.au/new-apartments/eade-byron-bay-29-shirley-street-byron-bay-nsw-2481">EADE Byron Bay</a> occupies a rare 6,000 sqm absolute beachfront site on the corner of Shirley and Milton Streets overlooking Main Beach and The Wreck surf break, just 350 metres from Byron Bay's town centre.

The 25-residence development is the first beachfront apartment project approved in Byron Bay in more than a decade and is currently under construction, with completion expected in May 2027.

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The project has attracted a mix of local Byron Shire residents downsizing from larger homes, alongside interstate buyers from Sydney, Melbourne and Brisbane seeking a permanent coastal lifestyle without compromising on space.

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a> and with interiors by <a href="https://www.apartments.com.au/interior-designers/alexander-co">Alexander &amp; Co</a>, EADE comprises&nbsp;10 garden apartments ranging from 284 sqm to 622 sqm, nine with private pools, five full-floor apartments and 10 rooftop residences with private plunge pools, expansive outdoor entertaining areas and uninterrupted ocean views.

[smartcode_project:default project_id=145590 project_image_fid=359527]

<a href="https://www.apartments.com.au/developers/vitale-property-group">Vitale Property Group</a> Managing Partner Chris Vitale said the project's combination of scale, location and limited future supply was driving buyer demand.

"There isn't another beachfront holding in Byron Bay of this size and position that could be developed again," Vitale said.

"Buyers are responding to the scarcity and the irreplaceability of a site of this calibre and to floorplans they can't find elsewhere in the market.

"We are seeing buyers place significant value on quality, space, design, resort-style amenities and the rarity of the location. The sales achieved to date demonstrate that discerning purchasers recognise the long-term significance of what is being created at EADE Byron Bay.

"Many are coming from larger homes in the Byron region, or from Sydney, Melbourne and Brisbane, and are after the space, security and convenience, without the upkeep of a house."

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[smartcode_project:default project_id=145590 project_image_fid=359523]

The Byron Bay project follows Vitale Property Group's delivery of the Mondrian Hotel and Private Residences at Burleigh Heads, with EADE continuing the developer's focus on luxury coastal developments.

Residents will have access to a resort-style swimming pool, gymnasium, sauna, cold plunge pool, concierge services and dedicated workspaces, while the project is targeting an 8-Star Green Star rating.

EADE Byron Bay is being exclusively marketed by Projx Australia in conjunction with WHITEFOX Projects.

WHITEFOX National Projects Director Phillip Rand said demand had been driven predominantly by owner-occupiers.

"We are seeing buyers at EADE place significant value on quality, space, design, resort-style amenities and the rarity of this location," Rand says.

"The sales achieved to date demonstrate that purchasers at this level recognise the long-term significance of what is being created at EADE Byron Bay."

Residences at EADE Byron Bay are currently priced between $4.75 million and $15.95 million.

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