<html><body>
Investors are offloading properties in the weakened rental market, with apartment listings surging across capital cities.
It has been led by Sydney where there has been a 39 per cent jump in new stock during the past four weeks.
The apartments are often recently vacated.
Domain data also showed that between the four weeks to May 17 and the four weeks to June 14, apartment listings rose by 27 per cent in Melbourne.
They were up by 15 per cent in Brisbane.
Listings were up 37 per cent in Perth.
Soaring vacancies and widespread rental discounting have squeezed investors' cash flows to the extent that almost two in every five landlords are in a position of financial stress, particularly in the Sydney and Brisbane CBDs, during April and May.
Residential vacancy rates for the Sydney and Brisbane CBDs climbed see almost one in six apartments sitting vacant.
Competition for tenants has further intensified as short-stay landlords switched properties into the long-term rental market, leading to the owners of 820,000 rental properties being stressed, analysis by Digital Finance Analytics for The Australian Financial Review shows. Another 120,000 plus are under severe stress.
A property is considered to be in stress for its landlord when it has been vacant for more than two months and rental incomes are insufficient to cover running costs.
Units and apartments were 1½ times more likely to be stressed than houses, while rentals bought within the past three years were twice as likely to be stressed.
Digital Finance Analytics principal Martin North said the high degree of stress was surprising given the current low borrowing costs.
"I've never seen this level of investor stress in the past," Mr North said.
"It's a perfect storm thanks to COVID-19, the previous massive run-up in investment properties, fall in rental income, collapse of Airbnb demand and no inward migration."
The areas with the highest proportion of stressed investors were all in the apartment-dominated Sydney and Melbourne CBDs.More than eight in 10 investors in Sydney's Rushcutters Bay and Ultimo were stressed, with 1377 severely stressed.
In the Melbourne CBD and western Melbourne, more than three out of four landlords were stressed with 1918 investors under severe stress.
While apartment rentals were weak, a total investor wipeout was unlikely, AMP Capital chief economist Shane Oliver said.
"Investors are unlikely to default en masse as they can opt to freeze their mortgage repayments," Dr Oliver said.
"But the risks are still there."
</body></html>

j.ballantyne1990-6AQqhLzZaK

Investors head to the exits amid weakened COVID-19 rental market

<html><body>
A mortgagee house in Brassall has been listed with an asking price of $320,000.
The Skardon Crescent home has undergone recent repairs including new hot plates and oven, new air-conditioner, new ceiling fans throughout, and a fresh coat of paint inside. 
The 712 square metre block is situated on a corner overlooking bushland.
The home features four-bedrooms, two-bathrooms, and a lockup garage.
It was built in 2011.
First National Real Estate agents Lyn Armit and Allison Brennan have the listing.
 
</body></html>

Brassall, Queensland mortgagee home listed for $320,000

<html><body>
A mortgagee house in Marsden Park has been schedule for auction.
The property features an open plan kitchen, dining and family area which opens out to the alfresco, Monier Atura low profile roof tiles, and 20mm stone bench tops in the kitchen, bathroom and ensuite. 
It has three bedrooms and two bathrooms.
The master bedroom has walk-in robe and ensuite while two bedrooms have built-in robes.
The 250 square metre parcel of land is set in the Elara estate.  
It previously sold in 2018 for $385,000.
Century 21 estate agent David Martignago has the listing. 
</body></html>

Marsden Park, NSW mortgagee home scheduled for auction

<html><body>
A ground floor mortgagee apartment on Chevron Island is scheduled for auction.
It has two bedrooms and two bathrooms.
The Darrambal Street property is located in the Modena on Chevron building, and is approximately 1km to the beach and light rail and a short 250 metre walk to the heart of Chevron Island. 
The two level apartment features a master bedroom with a large fully tied ensuite and private balcony, while the second bedroom adjoining the main bathroom also has its own balcony. 
The apartment also showcases a Chef's kitchen with a gas cooktop, dishwasher, plenty of storage, and a huge private courtyard for entertaining. 
The 12 year-old building offers facilities including a swimming pool, gymnasium, sauna and secure basement car park. 
It previously sold in 2008 for $595,000. 
PRD estate agent Andrew Turner has the listing. 
</body></html>

Chevron Island, Queensland mortgagee apartment listed for auction

<html><body>
A Dural trophy home has been sold at auction for $5.6 million.
Located at 3 Carters Road, the enormous residence features five bedrooms, five bathrooms, two garages, level lawns, a tennis court, spa, infinity pool, fireplace, billiard room, bar, and fully equipped cinema.
<img src="https://www.urban.com.au/images/2020/6/12/dural%20pool.png" alt="">
It is located on a 1.66 hectare block, and has 708 square meters of internal floorspace.
Rolling Stone Landscapes designed the house.
Built in 2004, it previously sold in 2014 for $4,900,000.
Dural's median house price is $1,517,500.
Kate Lumby, from Lumby Hampson, had the listing.
</body></html>

Dural trophy home sells for $5.6 million

<html><body>
A contemporary four-bedroom, four-bathroom home in Toorak has been listed through Kay &amp; Burton estate agents Duncan Fraser-Smith and Darren Lewenberg.
It comes with an indicative selling price between $5.7 million and $6.25 million. 
The <a href="https://www.realestate.com.au/property-house-vic-toorak-133786454" target="_blank">9 Cleeve Court property</a> is situated in a leafy cul-de-sac in one of Toorak's most pre-eminent locations.
The luxury home features an easy flowing floorpan with formal and informal living spaces, a study, upstairs retreat and four substantial bedrooms each with their own walk-in wardrobe and ensuite. 
<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/2020/6/19/18_Toorak%202.jpg" alt="">
The master bedroom has its own sitting area, room-sized fitted walk-in wardrobe, ensuite with freestanding bath, double shower and double vanity.
The marble kitchen features ceiling high storage, Miele appliances, four ovens, integrated dishwashers and fridge. The full height glass sliders from the kitchen, and family living areas open out to the paved courtyard, swimming pool and outdoor living area. 
<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/2020/6/19/18_Toorak_3.jpg" alt="">
The home is fitted with European oak floorboards, marble, timber veneer and fine cabinetry and plantation shutters throughout.
</body></html>

Luxury trophy home in Toorak listed for $6 million

<html><body>
ASIC has published regulatory guidance to assist in the application of the new best interests duty for mortgage brokers, which is set to come into effect in 2021.
The new obligations were legislated by Parliament, in direct response to recommendations made by the Financial Services Royal Commission.
From 1 January 2021 mortgage brokers will be required to act in the best interests of consumers and to prioritise consumers' interests when providing credit assistance.
Consistent with this legislation, the guidance is high level and principles-based, but also incorporates practical worked examples.
The purpose of the guidance is to explain the obligations introduced by the Government – it does not prescribe minimum standards of conduct, nor does it impose new or additional obligations.
Regulatory Guide 273 Mortgage brokers: Best interests duty (RG 273) contains ASIC’s views on how mortgage brokers may comply with their best interests obligations at key stages of the credit assistance process.
It provides guidance on:
<ul>
<li>the effect of the range of credit providers and products brokers can access</li>
<li>recommending packages of credit products</li>
<li>the types of records that may be kept to demonstrate compliance.</li>
</ul>
‘These are important and timely reforms for the mortgage broking industry and for customers shopping for a loan. This reform was legislated by the Parliament to improve the quality of credit assistance provided to consumers. ASIC supports that objective,’ said ASIC Commissioner Sean Hughes.
‘Consumers rightly expect mortgage brokers to act in their best interests and ASIC’s guidance describes how we expect them to do so. Under these new obligations, let there be no doubt – the consumer must always come first.
‘We released this regulatory guide as early as effectively possible, to help industry prepare on a timely basis for the best interests duty and related obligations before January 2021.’
From 1 January 2021, ASIC will closely monitor conduct and outcomes to ensure mortgage brokers are complying effectively with the best interests duty.
Alongside the new guidance, ASIC has also published a report responding to feedback received during the consultation process.
</body></html>

ASIC unveils guidance scheme for mortgage brokers in preparation for royal commission-backed legislation 

<html><body>
Offered for the first time in 22 years, a four-bedroom, three-bathroom house in Rose Bay has been sold.
It sold under the hammer for $6 million through Badger Fox real estate agents Peter Leipnik and Alexander George. 
The <a href="https://www.realestate.com.au/sold/property-house-nsw-rose+bay-133626526" target="_blank">20 Beresford Road property</a> is a two-storey home comprised of four double bedrooms including a master suite with walk-in robe and ensuite. 
<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/2020/6/19/25_Rose%20Bay%20Living%20.jpg" alt="">
 
 
 
 
</body></html>

Rose Bay trophy home sold for $6 million under the hammer

<html><body>
The Essendon AFL player Conor McKenna is unlikely to face a ban as the AFL investigates if there was a COVID-19 breach for visiting an open-house inspection.
The Sunday Herald Sun’s reported he visited five rental open for inspections ahead of his positive test.
The AFL is yet to rule whether it was a breach.
He was the first AFL player to test positive to COVID-19 which saw the Essendon-Melbourne game being postponed.
Protocols sent to players in a COVID-19 dossier this year stated players could “move house”.
It is understood that provision related to buying and selling houses rather than viewing rental properties.
The lease on the city apartment McKenna and his brother rents is close to expiring.
It is understood McKenna should also have contacted Essendon’s compliance officer Laura Lawry to check for permission.
Essendon chief executive Xavier Campbell confirmed the Sunday Herald Sun’s report about visiting an open for inspection, saying it was up to the AFL to rule whether it was a breach.
“Whether an open house is deemed to be a breach of the protocols we are still working through,” Campbell said.
McKenna also visited the host family that put him up when he moved to Melbourne from Ireland.
He was tested Wednesday when negative and there and his test on Friday came up as an irregularity given a low level, and it was a positive test on Saturday.
The footballer has gone home to Ireland with the club's approval, due to acute homesickness in February.  
He flew back to Melbourne on March 5.
He was overlooked for Essendon's Round 1 clash with Fremantle, with the AFL postponing the season the following day due to the coronavirus pandemic.
McKenna flew back home to be with his family in Ireland during the AFL's shutdown.
He arrived back in Melbourne from Ireland and went into a two-week quarantine period.
He was not selected to play against the Sydney Swans after returning for training in early June.
Footage captured by Channel 7 cameras showed McKenna blowing his nose and spitting at training on Friday.
 
</body></html>

Bomber Conor McKenna's rental open-house under COVID-19 tracing investigation

<html><body>
Victorian auction gatherings have again been limited as spike in COVID-19 cases has prompted warnings.
Amid the rising cases, the State Government has rolled back plans to allow up to 50 at auctions from today, instead keeping the cap at 20.
Victorians are also being urged to stay away from six local government areas in a dramatic escalation of efforts to prevent a second wave of the coronavirus pandemic.
The national medical expert panel says it “strongly discourages travel to and from” the areas of Hume, Casey, Brimbank, Moreland, Cardinia and Darebin.
There are collectively responsible for 42 active cases.
The tough limits have been slapped on household visits and outdoor gatherings after 25 cases were confirmed on Saturday and another 19 cases were confirmed yesterday.
Victoria recorded 116 of the nation’s 141 new cases in the past week.
Only 20 people will be able to attend public auctions until July 12.
The earlier announcement was that public auctions in Melbourne would have been able to have up to 50 people attend from midnight on Sunday, June 21.
Premier Daniel Andrews said the number of new COVID-19 cases throughout last week halted plans to ease restrictions.
“As we’ve seen across the world, this virus has the ability to turn a few cases into hundreds in a matter of days,” Mr Andrews said on Saturday. 
“That’s why we also need to delay an increase to gathering limits in businesses and community facilities.”
 
 
</body></html>

Victorian auction gatherings have again been limited amid spike in COVID-19 cases

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Joel Robinson

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

The long-planned transformation of Brisbane's historic Shafston Estate has taken another major step, with Capella Hotel Group announced as the luxury hospitality partner behind what will become Brisbane's first branded residences.

The project, to be known as Capella Residences Brisbane, is being delivered by Verso Projects at the landmark Kangaroo Point riverfront estate, with completion targeted for 2029.

The announcement follows a series of planning changes to the project over recent years. The site was originally approved in 2023 for a 15-level, 37-apartment development designed by Rothelowman for Burgundy Group before Verso Projects took over the 10,070 sqm riverfront holding and lodged revised plans with Kerry Hill Architects to increase the development to a 25-level tower with 51 apartments.

The latest announcement confirms Capella Hotel Group will bring its branded residential offering to the project, marking just the second Capella Residences development globally after Seoul, and the group's first branded residential project in Australia.

The <a href="https://www.apartments.com.au/new-apartments/23-castlebar-street-kangaroo-point-qld-4169">Castlebar Street development</a> will centre around the restoration of the heritage-listed Shafston House, one of Brisbane's oldest residences, originally constructed in 1851 by Reverend Robert Creyke as a single-storey cottage known as Ravenscott.

<img alt="Capella" data-entity-type="file" data-entity-uuid="2b9f4ce5-638f-4d6b-8082-3ca7e4b75fca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-09%20at%207.20.41%E2%80%AFAM.png?VersionId=f7aeqsW_DzOJI4FymWb3lD8NptSfsP7q" />

Capella said the project aligns with its focus on heritage-led developments, with the Brisbane estate combining the restored historic residence with a new luxury apartment tower and hospitality-inspired resident amenities.

Residents will have access to the Capella Living Room, a concierge-led communal space inspired by the group's luxury hotels, alongside landscaped gardens, six swimming pools, wellness and recreation facilities.

The broader estate will also include two riverfront homes, a six-berth private marina, porte cochère arrival experience, secure basement parking and a new section of public riverwalk along the Brisbane River frontage.

The heritage Postal Depot Building will also be retained and repurposed as a guest house, in line with the revised development plans.

The project represents another evolution for the site, which Kerry Hill Architects previously described as a rare opportunity to restore one of Brisbane's most significant heritage estates while creating a new benchmark for apartment living.

"The Shafston Estate provides a once-in-a-generation opportunity to restore one of Brisbane's finest heritage precincts and to reinstate residential use as a unique site perched on the edge of Kangaroo Point," Kerry Hill Architects said in its Urban Context Report accompanying the planning submission.

"The project will celebrate excellence in sub-tropical residential design, setting a new benchmark for vertical living in Brisbane."

Verso Projects, which now has an $8.5 billion development pipeline spanning more than 6,000 dwellings across apartments, townhouses, retail and commercial projects, said the partnership with Capella would elevate the development beyond a traditional residential project.

"We feel honoured to be restoring Shafston Estate to its former glory, elevating it to new heights of luxury and excellence underpinned by Capella's distinctive service ethos and design philosophy, and making it a standout landmark in Brisbane," Verso Projects CEO Steve Laffey said.

"By partnering with Capella, globally recognised for its refined approach to luxury hospitality and deep respect for cultural and historical context, we will elevate this project beyond a residential offering into a world-class destination."

Capella Hotel Group President Roland Fasel said Brisbane's emergence as a global city made it the right location for the company's Australian residential debut.

"Brisbane is a city on the cusp of something remarkable, and Capella Residences is our commitment to being part of that story," Fasel said.

"The Capella residential experience is more than luxury. It is about a sense of belonging to a place with deep meaning."

Private appointments have now opened for the project, with a display suite expected to open in late 2026 ahead of the planned 2029 completion.

Capella to launch Brisbane's first branded residences at Shafston House, Kangaroo Point

Lewis Land's latest apartment release within its <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan is targeting one of the Gold Coast's fastest-growing buyer groups, with almost a third of apartments at Solis priced below $1 million.

The seven-storey building at Biggera Waters will comprise 91 apartments, including 24 one-bedroom residences starting from $778,000, a price point Lewis Land says is aimed squarely at first home buyers struggling to enter the Gold Coast market.

<img alt="Harbour Shires" data-entity-type="file" data-entity-uuid="e7486e37-22f6-4c92-b212-9b0622070b8f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.34%E2%80%AFAM.png?VersionId=W8MJwJUCf6HkIyl_EVSksnd.QI6MZryY" />

<a href="https://www.apartments.com.au/developers/lewis-land-group">Lewis Land</a> Head of Development Michael Long said the developer deliberately allocated a significant proportion of the project to more affordable apartment types.

"First home buyers have been priced out of many parts of the Gold Coast, and we saw a clear opportunity to address this and play our part in a longer-term housing solution," Long said.

"That's why 24 of the 91 apartments being delivered at Solis have been designed and priced for the city's next generation of homeowners, quality one-bedroom apartments, half of which include an additional multipurpose room to maximise space and flexibility.

"This approach places 30 per cent of apartments in Solis under $1 million, and with close proximity to Harbour Town's future light rail extension connecting residents to the city's major employment and knowledge hubs, it's a win for buyers looking to secure their first property."

<img alt="Sores" data-entity-type="file" data-entity-uuid="550526d3-73ba-4710-9739-c5f4294a30ef" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.29%E2%80%AFAM.png?VersionId=cQQdXHt9wS0UXwZEm5Py5bH_3kAmzyhu" />

Designed by BDA Architecture, Solis will deliver a mix of one, two and three-bedroom apartments, with residences ranging up to 232 sqm. Apartments feature generous balconies and contemporary finishes, while residents will have access to Harbour Shores' lagoon pool, clubhouse, tennis court, gym, yoga studio and sauna.

The focus on first home buyers resonated with purchaser Holly Humphreys, who said she and her boyfriend spent more than a year searching for their first property before shifting their attention from houses to apartments.

"We fell in love with the first house we bid on and got our hopes up, but after repeated knockbacks we learned not to get too attached," Humphreys said.

"We offered at the high end of price guides, but sales kept going even higher. That's where we really struggled and we needed to re-evaluate our budget and our expectations. Standalone houses were off the table, and we pivoted to apartments and townhouses."

Humphreys said it was encouraging to see developers recognising the growing demand from first home buyers.

"There's a growing number of young buyers looking to enter the market earlier because they understand that getting in now can make a real difference as prices continue to rise," she said.

"It's fantastic to see a developer recognise this and then actively take measures to deliver an apartment with us in mind."

Solis is the first development planned within the second stage of the Harbour Shores masterplan, with early works expected to commence in September 2026.

[smartcode_project_cta:default project_id=113271]

Lewis Land targets first home buyers at latest Harbour Shores release, Solis

Luxury apartment developer Abadeen has recorded $19.25 million in apartment sales across two of its Lower North Shore developments in the lead-up to the end of the financial year, headlined by the sale of a $6.75 million penthouse at <a href="https://www.apartments.com.au/buildings/koyo-crows-nest-5-rodborough-avenue-crows-nest-nsw-2065">KOYO in Crows Nest.</a>

The transactions also included the sale of a newly completed three-bedroom apartment at <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences in Cremorne</a> for $6.35 million, with the residence selling shortly after the project's first public inspections following completion.

The sales come as completed, owner-occupier-focused apartments continue to attract strong demand across Sydney's Lower North Shore, particularly from buyers looking for certainty and immediate occupancy.

The penthouse at KOYO spans 491 sqm across a single level and was designed by architect Koichi Takada. The development is one of Abadeen's flagship boutique projects in Crows Nest.

[smartcode_project:default project_id=108800 project_image_fid=370093]

Abadeen Executive Chairman and Founder Justin Brown said buyer activity lifted noticeably in the lead-up to the end of the financial year.

"We saw a clear increase in enquiry levels, inspection numbers and buyer engagement across our completed projects leading into the end of the financial year," Brown said.

"Buyers have become far more decisive over the past six months. The combination of improving confidence, limited supply and the ability to physically inspect completed residences is creating strong competition for premium apartments in the best locations."

Brown says the&nbsp;response to Park Residences following completion has been particularly strong.

"Buyers want certainty and are responding positively to the opportunity to walk through a finished product, inspect the quality firsthand and move in immediately," Brown suggested.

"Projects such as Park Residences and KOYO demonstrate that when the product is exceptional and the location is irreplaceable, buyers are prepared to act quickly."

[smartcode_project:default project_id=114246 project_image_fid=370116]

Abadeen CEO Joe Tack said quality continued to differentiate projects in the current market.

"Today's buyers are incredibly discerning," Tack said.

"They are seeking larger floorplans, premium finishes, walkability, lifestyle amenity and confidence in the developer delivering the project. Well-designed boutique developments continue to outperform because they offer something genuinely difficult to replace.

"The enquiry we are seeing across our completed and recently completed Lower North Shore portfolio is very encouraging, and we expect this momentum to continue into spring."

The sales follow increased enquiry across Abadeen's Lower North Shore portfolio which also includes <a href="https://www.apartments.com.au/buildings/northcote-collective-naremburn-2-northcote-street-naremburn-nsw-2065">Northcote Collective in Naremburn</a> which also completed recently.

KOYO penthouse headlines Abadeen's $19.25 million EOFY sales flurry

The City of Sydney has approved plans for <a href="https://www.apartments.com.au/developers/billbergia">Billbergia Group</a> and Metrics Credit Partners’ $3.5 billion Castlereagh Place project in the heart of the Sydney CBD

The towers will be among the tallest in <a href="https://www.apartments.com.au/developments/sydney-nsw-2000">Sydney</a>'s CBD, with more floors than any other residential tower in the city.&nbsp;

The 6,000 sqm site was acquired by the joint venture partners in 2024. It is the largest amalgamated land parcel in the Sydney CBD and comprises eight individual sites fronting Castlereagh, Pitt and Liverpool Streets.&nbsp;

<a href="https://www.apartments.com.au/new-apartments/castlereagh-place-sydney-324-348-pitt-street-sydney-nsw-2000">Castlereagh Place</a> will transform an underutilised city block into a landmark mixed-use destination, anchored by two 82-storey towers comprising 607 luxury residences above an 8-level podium housing a 209-room luxury hotel. A 1,000 square metre civic park on ground level features a curated mix of food, beverage and retail.

The plans have been refined over the past year to rebalance the residential and hotel offering, and reconfigure the retail footprint to create a stronger, more dynamic dining experience.

A three-level flagship building on the prominent corner of Pitt and Liverpool Streets will be the gateway to the Castlereagh Place lifestyle precinct. Set to become a Sydney icon, the building is capable of housing multiple hospitality venues.

“Castlereagh Place is designed to be the City's next great urban oasis - an energetic mixed-use precinct that pulses with life, day and night,"&nbsp;said Joseph Kinsella, Group Director of Billbergia.

"It will bring the vibrancy of places like Barangaroo and Darling Quarter into a more accessible, central destination at the very heart of Sydney."

Kinsella said the project will build on&nbsp;Sydney’s growing laneway culture with the City’s largest network of new activated lanes - an expanded, next-generation take on precincts like Angel Place, Palings Lane and Ash Street in Wynyard.

[smartcode_project:default project_id=134477 project_image_fid=374401]

Castlereagh Place has been designed by architects <a href="https://www.apartments.com.au/architects/fjc-studio">fjcstudio</a> in collaboration with Trias Studio, Aileen Sage and Polly Harbison Design, joint winners of an international design competition in 2018.&nbsp;

Signature design elements from the original scheme remain unchanged, while the public domain has been significantly enhanced, delivering 60 per cent more open-to-sky space.

Pedestrian access will also be enhanced through new laneways linking Pitt, Liverpool and Castlereagh Streets, drawing people into a new civic park with outdoor seating, landscaping and integrated public art.

With activated laneways supported by strong hospitality offerings, Castlereagh Place is tipped to become a vibrant new dining destination in the heart of Sydney’s CBD.

It marks the largest undertaking to date for the Billbergia and Metrics Credit Partners partnership. Together they are developing other underutilised Sydney sites into mixed-use precincts, including the $2.2 billion Concord Central and the $1.3 billion Chatswood Grand Residences.

Metrics Managing Partner and Group CEO Andrew Lockhart said Castlereagh Place is a landmark project that will redefine Sydney’s skyline.

"As the tallest residential high-rise development, the revitalised site will offer panoramic views across the CBD and surrounds. We are excited to partner with Billbergia to reinvigorate an underutilised site and create a sophisticated and contemporary mixed-use offering situated in the heart of Sydney.”

Total apartments within the towers have increased to 607 dwellings, with a focus on larger floorplans. Aligned to growing market demand, Castlereagh Place now comprises 299 three-plus-bedroom apartments, 198 two-bedroom units and 110 one-bedroom configurations.

[smartcode_project:default project_id=134477 project_image_fid=374402]

Resident amenities will include an exclusive residents club containing a gym, rooftop pool, dining rooms, co-working spaces, library, golf simulator, games room, cinema room, and access to an exclusive concierge service. There will be around 500 basement car spaces below the towers.

The development will also include a state-of-the-art wellness centre, set to feature a bathhouse with magnesium pools, hot/cold plunge pools and premium amenities.

&nbsp;

According to fjcstudio, the towers will feature distinctive yet elegant architectural design reflecting Sydney’s geometry and urban character, with a network of through-site links and intimate public spaces activating the streetscape.

"Castlereagh Place is a city-making project of significant scale and ambition," said Richard Francis-Jones, Design Director at fjcstudio.

"It will create a rich urban complex of public open spaces, landscaped gardens, and vibrant laneways. Defining these new public spaces and the important streetscape of Castlereagh Street is a sequence of fine-grained, diverse retail and hotel architecture designed in collaboration with Aileen Sage, Polly Harbison Design and Trias.

“Rising above the tree-lined, human-scale streetscape are two slender residential towers that will transform the city skyline and look towards the Harbour, Hyde Park, and the Royal Botanic Garden.”

Demolition and early construction works have commenced onsite at Castlereagh Place.

[smartcode_project_cta:default project_id=134477]

Staff reporter

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News