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Australian companies could increase their workforce potential by utilising their real estate assets, says a JLL report.
The report, Australian CRE (Corporate Real Estate) Survey – Getting the Strategy Right, identifies opportunities for real estate teams working in corporate Australia to shift their focus from real estate metrics to business performance goals.
“It is being recognised that a big factor of business success is the workplace, which contributes to talent attraction and retention and productivity," said Tony Wyllie, JLL’s Australian head of corporate solutions integrated portfolio services.
“Our latest JLL survey has found that when it comes to the expectations that are placed on internal teams managing real estate in corporate companies, they continue to walk a tightrope between delivering cost savings for the business and creating value from real estate assets owned by the company.
“There’s a real opportunity for these real estate teams to shift the conversation from cost to business strategy, focusing on outcomes like productivity that will create real value for the organisation,” he said.
The survey found that 88% of respondents reported productivity gains are still behind achieved predominantly by cost savings, but workplace improvements also rated highly in the survey, with 72% of respondents saying productivity gains had been made this way.
JLL’s third report on Global Corporate Real Estate Trends tracks insights from 544 CRE executives in 36 countries. The report shares the views of real estate teams operating in corporate Australia.
The major shifts in CRE sentiment since the last JLL global survey in 2012 are:
<ul>
<li>The CRE mandate is stronger than 3 years ago – 26% rated it much stronger and 40% said it was stronger</li>
<li>
Over the past 2 years, the majority of CRE (56%) say that their strategy has been more cost driven compared with 42% who say it has been more value driven
</li>
<li>77% of respondents said that over the past 2 years, productivity had become a more important goal for the CRE team.</li>
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The last three biennial global surveys conducted since 2010 indicate a clear focus on cost for corporate real estate teams at the expense of allowing these teams to create value beyond just financial savings.
“Internal real estate teams need to move from being a technical specialist to being a trusted advisor," Wyllie said.
“For corporate real estate teams to elevate their role away from just a cost focus, they need to expose what they have traditionally held as their organisation’s ‘strategically sensitive’ functions around portfolio strategy to service providers and shift their own focus on the pinnacle levels of strategy such as stakeholder management and integration with the key supporting business functions of HR, IT and finance.
“The results from JLL’s latest survey show that the demands from the C-suite (CEO’s, COO’s, CFO’s) are growing, not slowing.
“Since the GFC, companies have been honing in on what is typically either their second or third largest cost base – their real estate or office footprint.
“Not only has the C-suite continued to demand cost savings from real estate but their expectation is for corporate real estate teams to deliver on both the value and cost side of the real estate equation.
“That’s why corporate real estate teams are still walking a tightrope,” said Wyllie.
The report identifies opportunities for corporate real estate teams to shift their focus and increase their visibility in managing a company’s real estate assets. The survey found the CRE mandate to do this was stronger than 3 years ago – 26% said it was ‘much stronger’ and 40% said it was ‘stronger’.
“While the survey showed that the majority of CRE executives believe they can elevate their function through delivering cost savings (35%) and have spent the past two years with a strategy focused on cost savings, this succeeds in garnering support from the business, but leaves a lot of value on the table that companies could be using to maximise the performance of the business,” said Wyllie.
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JLL survey suggests real estate teams in Australian companies should shift focus to business strategy 

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A boutique site in Melbourne CBD with an approved permit for a 34-level apartment tower comprising 89 apartments is up for sale.
The site at <a href="https://www.realcommercial.com.au/property-land+development-vic-melbourne-501727429" target="_blank">9-11 Exploration Lane</a> has a land area of 168 square metres.
The site has a fully approved permit for a project designed by architect Rothe Lowman.
It is listed by agents Nick Peden and Clinton Baxter of Savills.
The East End CBD location is close to Melbourne Central train station.
"This offering is one of the best to hit the market for many years," Nick Peden said.
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Exploration Lane, Melbourne CBD site with permit for 34-level tower up for sale

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Charter Hall’s Core Plus Industrial Fund (CPIF) has bought an industrial land holding near the Port of Brisbane in an off-market deal for $6 million, adding to its existing holdings on Lytton Road at Hemmant.
The 1517 Lytton Road, Hemmant property is spread over 17,766 square metres and is a General Industry zoned site within the Trade Coast precinct.   
The site had historically been used as part of the overall Inghams chicken facility and most recently as a transport yard.
Selling agent Shaw Harrison of Savills leased out the vacant yards and split the site into smaller tenancies, occupied by hardstand and transport depot tenants. The total current income of $520,000 represents a yield of 8.66% which includes a rental guarantee for the vacant yard.
Harrison said the acquisition of 1517 Lytton Road “adds the final piece of the puzzle” following Charter Hall’s previous acquisitions of neighbouring properties, 1510 Lytton Road in 2014 and 80 Canberra Street in 2012. The latest brings its total holding to more than 12 hectares of future developable land backed by a weighted average lease expiry of around 14 years with some medium-term development upside.
“The acquisition is right on strategy in terms of investing in highly land constrained markets within very close proximity to key infrastructure in the Port of Brisbane and Gateway Motorway. It enables us to work closely with, and provide flexibility, in terms of expansion or reconfiguration requirements, for one of our key customers, Inghams,” Charter Hall’s head of industrial Paul Ford said.
CPIF focuses on sourcing properties in the industrial and logistics sectors of major Australian capital cities. The fund was launched in April 2007, raising $350 million in equity commitments, says its website.
Harrison said the fully fenced property with workshops and separate yards provide attractive holding income while the new owner assesses future options.
 “The Trade Coast provides convenient road access direct from the Port to both the north and south of Brisbane via the Gateway Bridge and Motorways and, as such, is a strategic logistics location and busy route for trucks and heavy vehicles. This site will be the next big thing in the Trade Coast precinct,” said Harrison.
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Charter Hall expands Brisbane Trade Coast holdings with $6 million industrial site purchase

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Upward momentum in the retail market is underpinning a tranche of new store openings across the east coast, according to CBRE.
CBRE's head of retail brokerage leasing Australia, Leif Olson, said improved consumer sentiment levels were underpinning the growth, with Australian brands seeking to expand their footprint in Sydney and Melbourne’s fashion hot spots.
High-end menswear label <a href="https://twitter.com/MJBale" target="_blank">MJ Bale</a> is the latest such Australian retailer, with a recently-opened flagship store in Sydney's Martin Place.
“MJ Bale’s new store opening highlights continued momentum in the retail market and the confidence this is providing Australian retailers to capitalise on the recent business upturn,” Olson said.
“Located in the heart of Sydney’s business district, Martin Place is fast becoming one of Australia’s premier fashion hubs, soon to be synonymous with names such as Rimowa, Kit &amp; Ace and COS.”
Totaling 120 square metre, MJ Bale’s store at 14 Martin Place features a new fitout and design, while maintaining the heritage feel of the iconic sandstone building.
The latest MJ Bale store opening comes after the retailer recently expanded its footprint in Melbourne through CBRE, opening a 120 square metre outlet at 500 Collins Street.
Another store spanning 131 square metres at St Collins Lane is expected to open in 2016.
“Over the past 18 months, a flood of new entrants have secured a presence in the Melbourne CBD, which is evidence of its growing appeal at a local and international level,” said Melbourne CBRE leasing agent Zelman Ainsworth.
At St Collins Lane, MJ Bale will neighbour a number of international brands, including Coach, Tag, Furla, Sandro, Maje and Reiss. 
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Australian retailer MJ Bale widens footprint across east coast

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New apartment sales activity on the Gold Coast has spiked by more than 30%, indicating strong demand for new launches, according to the latest data.
The number of transactions in the July to September quarter rose to 416 among 47 projects. 
It was up from 314 in the previous quarter, says the Urbis Gold Coast Apartment Essentials report. 
The two-bedroom, two-bathroom product remained the most popular across all precincts, equating to 69% of total sales.
Urbis senior consultant Lynda Campbell said increased supply coupled with strong buyer demand, had fuelled this quarter's sales activity growth.
“The Gold Coast apartment market is continuing to break records in 2015 with sales in the first three quarters combined (1,041) overtaking the total yearly sales for 2014 (825),” Campbell said.
“The latest report shows that sales this quarter increased by 253 compared to the corresponding quarter for 2014 which recorded a total of 163 sales – an increase of more than 150%.
Seven new projects have launched this quarter with another 22 set to launch over the next six months, bringing another 2,165 new apartments to the market, she said.
“As apartment prices in capital cities become less affordable, the Gold Coast is attracting a greater share of the investor markets, who are seeking value for money, return on investment and lifestyle opportunity,” Campbell said.
The overall LGA Gold Coast median apartment price in June, which includes new and existing apartments, was $360,000 – significantly more affordable than Sydney ($650,000), Melbourne ($470,000) and Brisbane ($429,000).
“The Gold Coast has welcomed 23 new apartment project launches during the past 12 months. This is driving a competitive market for developers who have become more savvy and sophisticated in their designs and amenity offerings - giving buyers more choice.”
The majority of activity was concentrated around the Gold Coast Central* precinct which recorded 206 transactions, or almost 50%, of total sales. This precinct also holds the largest pending supply with a total of 909 apartments in nine towers which are expected to enter the market over the next six to nine months.
The Gold Coast’s new apartment market has reached its highest level of apartment sales in seven years with five consecutive quarters of increased sales volumes.
The 416 sales during Q3 2015 compared to 163 sales in Q3 2014 and 314 in Q2 2015.
The weighted average sales price of apartments on the Gold Coast is $553,245 - decreasing by $5,593 compared to Q2 2015.
The Gold Coast Central precinct recorded 206 sales or 52% of total apartment sales with an average weighted sale price of $579,854.
Based on surveyed data, the Coastal Fringe* remains the most affordable precinct on the Gold Coast to buy a new apartment with an average weighted sale price of $455,000.
The Southern Beaches* remains the highest priced precinct on the Gold Coast to buy a new apartment with an average weighted sale price of $924,038.
*Coastal Fringe suburbs include Arundel, Parkwood, Molendinar, Ashmore, Benowa, Bundall, Carrara, Robina, Clear Island Waters, Merrimac and Varsity Lakes.
*Gold Coast Central suburbs include Labrador, Southport, Main Beach, Surfers Paradise and Broadbeach and Broadbeach Waters.
*Southern Beaches suburbs include Bilinga, Burleigh Heads, Burleigh Waters, Casuarina, Coolangatta, Currumbin, Kingscliff, Kirra, Mermaid Beach, Mermaid Waters, Miami, Palm Beach, Tugun and Tweed Heads.
 
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Gold Coast new apartment surge to seven year high in sales activity: Urbis research

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Aircraft noise has had minimal, if any, impact on property prices in suburbs near or under the flight paths to Brisbane Airport, a QUT analysis of 26 years of property sales, rental and investment performance has found.
The study found property prices in some high-value suburbs with high noise complaints rose at a greater rate than other similar suburbs unaffected by aircraft noise.
Property economist Professor Chris Eves and Andrea Blake from QUT’s School of Civil Engineering and Built Environment and the QUT Air Transport Innovation Centre analysed price, saleability, investment performance and capital growth from 1988 to 2014 of residential properties in 40 Brisbane suburbs either near the airport or under a flight path.
“It is the most detailed and comprehensive analysis of the impact of aircraft noise ever undertaken in Australia,” Professor Eves said. The study was commissioned by Brisbane Airport Corporation.
“In total we looked at more than 180,000 sales transactions in 40 suburbs ranging from those whose residents recorded the highest number of noise complaints to those which reported minimal or no aircraft noise.
“Our findings suggest that factors such as proximity to transport, the Brisbane CBD, schools, recreation facilities, the airport and other services, far outweigh any negative impact experienced as a consequence of being under a flight path or from aircraft noise.”
Professor Eves said the suburbs were classified by the number of aircraft noise complaints recorded by Air Services Australia over the past five years. These suburbs were classified  as having high, moderate or minimal/no noise complaints.
“Our analysis shows very little difference in growth of house prices across high-value suburbs regardless of where they were situated or their exposure to aircraft noise.
“For example, Bulimba, which is under an existing flight path and records moderate noise complaints, has capital returns slightly higher than New Farm which is not subject to any noise complaints.
“The capital returns for Ascot and Balmoral, which are currently not under a flight path, are less than the capital returns for Bulimba.”
Professor Eves said units and townhouses under Brisbane flight paths also showed no impact on investment performance from aircraft noise.
“Rental properties under the existing main southern flight path, which attracts the highest level of noise complaints, have a rental market increasing at the same percentage as properties not located under an existing flight path,” he said.
“In fact, over the 26 years, units and townhouses in the high noise complaint suburbs showed an average annual capital return of 7.66 per cent, which is higher than the capital returns in the moderate noise complaint suburbs of 7.40 per cent, but slightly lower than capital return for no noise complaint suburbs.
“In higher value, middle socio-economic suburbs, two of the highest average annual capital returns for the 26-year period for houses were achieved by Camp Hill (9.52 per cent) and Cannon Hill (9.72 per cent).
“Each of these suburbs is under the main southern flight path and subject to high noise complaints. In contrast, Bardon with minimal/no noise complaints achieved 9.02 per cent.”
Professor Eves said Hendra, another higher value middle socio-economic suburb, adjoining the airport, had recorded moderate noise complaints but outdid them all and achieved an average annual capital return of 10.9 per cent.
“Hendra is not currently under a flight path but will be when the New Parallel Runway opens in 2020,” he said.
“Even when we looked at the only two lower- value, middle socioeconomic suburbs in the study, we found similar effects.
“Mt Gravatt East, which records moderate noise complaints under the existing flight path, had, at 7.93 per cent, a higher average annual capital return than the Brisbane median of 7.72 per cent.
“In contrast Chermside West, which has minimal/no noise complaints under the existing flight path, had below the median growth of 6.46 per cent?
“Overall the study found that the value and price of housing and units in Brisbane located under flight paths are determined by a range of factors other than aircraft noise.”
Professor Eves said that when the new proposed flight paths open in 2020 there would be many suburbs which had less noise because aircraft movements would be shared.
Brisbane Airport Corporation (BAC) corporate relations head Rachel Crowley said the potential negative impact on property values was a cause of concern for people living near an airport or under a flight path.
“We’re pleased that this study may provide some comfort to people who may be anxious about whether or not their property value is constrained by their location under a flight path,” Ms Crowley said.
“We also hope this study may convince property developers, vendors and real estate agents that being open and transparent about the presence of a flight path should not negatively impact sale price.
“Airports are essential national infrastructure and the importance of their ability to operate unencumbered cannot be over-stated.  
“Queensland is in the fortunate position of having its major gateway airport  both well-located and well-protected by a significant buffer of industrial land which protects residents from the worst aircraft noise experienced in cities which have residential development far closer to the airport.”
Suburbs in the study were:
High noise complaints 
Morningside,
Coorparoo
Camp Hill
Cannon Hill
Tarragindi
Seven Hills
Tingalpa
Norman Park
Holland Park West
The Gap
Murrarie
Belmont
Moderate Noise Complaints
Gordon Park
Northgate
Bulimba
Mount Gravatt East
Balmoral
Clayfield
Ashgrove
Chapel Hill
Wynnum
Fairfield
Hawthorne
Ascot
Minimal/no noise complaints
Annerley
Mitchelton
New Farm
Mansfield
Virginia
Chelmer
Sherwood
Jindalee
Forest Lake
Kenmore
Graceville
Hamilton
Suburbs under south flight path
Morningside
Camp Hill
Seven Hills
Mt Gravatt East
Balmoral
Murrarie
Tarragindi
Coorparoo
North flight path
Ascot
Hendra
Albion
Chermside West
Ashgrove
Bardon
New flight path (2020)
Hamilton
Annerley
Stafford
New Farm
No flight path
Mansfield
Mitchelton
Wooloowin 
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What noise? Property prices in Brisbane suburbs under flight paths continue their climb

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Families from southern capitals are looking to the north for a better lifestyle at an affordable price, as median prices in Sydney are up to 75% higher than in Brisbane, says Place CEO Damian Hackett.
The median house price in Sydney and Brisbane during October 2015 was at the highest level in 13 years, he noted CoreLogic RP Data shows. 
<a href="/images/2015/11/23/image003.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/11/23/image003.png" alt="">
“The last time we saw these kinds of figures was back in 2002, when the median dwelling prices in Sydney were 97 percent higher than those in Brisbane – slightly above the current figure - which reflects a 75 percent difference," he said.
“If we look back, an increasing median price gap between Brisbane and our southern counterparts is key in shifting momentum."
Sydney and Melbourne buyers are rejecting the southern pricing instability in favour of Brisbane. Investors observe Brisbane’s high yields, while young families seek affordability and a quality lifestyle, he said.
“Brisbane is consistent in terms of sales activity and stability, with low interest rates this year encouraging investment across the board, in addition to upgrades in the upper end of the market.
“Queensland owner-occupiers are quickly snapping up family homes on large blocks in Brisbane’s blue chip suburbs, where they pay a fraction of what they would in Sydney”.
Queensland represents value for money, an attractive option for southern buyers as Sydney and Melbourne continue to experience unsustainable growth, says Hackett.
"What we’re now seeing is Sydney and Melbourne prices are reaching their peak; people are looking for stable and solid growth and that’s what we have in Brisbane. Families are recognising the very high quality of living they can afford in Queensland.”
According to Place, the increasing transport infrastructure across Brisbane will only add to its appeal.
“The first direct flights from Gold Coast to China have commenced, and the G20 showcased Brisbane as a highly attractive city, while the Gold Coast is seeing a boom in i
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High median price gap between Brisbane and Sydney sees buyers eyeing north: Place CEO Damian Hackett

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NSW's price growth has been plotted over the past decade by BIS Shrapnel in the McGrath IPO prospectus.
There is also a forecast for 2016. 
<a href="/images/2015/11/13/Screen%20Shot%202015-11-13%20at%202.09.32%20PM.png" target="_blank">Click to enlarge</a>
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NSW price growth over the past decade 2005-2015: BIS Shrapnel

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ACT's price growth has been plotted over the past decade by BIS Shrapnel in the McGrath IPO prospectus.
There is also a forecast for 2016.
<a href="/images/2015/11/13/Screen%20Shot%202015-11-13%20at%202.14.03%20PM.png" target="_blank">Click to enlarge</a>
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ACT price growth over the past decade 2005-2015: BIS Shrapnel

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Investors have been a significant influence in the Rockhampton region historically, in particular in the entry level market sector, according to valuation firm Herron Todd White's latest report.
The November HTW review suggests investors in this region vary from both mum and dad investors to interstate investors who have often seen value in our affordability and during peak market conditions, were not fazed by purchasing properties sight unseen.
"The investor market in Rockhampton has typically always been entry level price points however in recent years, there has been an influx of investment in new homes specifically targeted to non local investment providing a basic 4-bedroom, 2-bathroom home in the mid $300,000s."
As in most markets, investors in our local market focus on rental return and potential for capital growth, the HTW report says.
"In a town of our size, transport infrastructure and proximity to major facilities is still a consideration, however not as important as it is in the major capital cities.
"Expected yields vary depending on the property type, but broadly speaking, between 5% and 8% can be anticipated.
"Investment in the unit market has a smaller influence in the market overall, yet between 6% and 7% gross yields are still attainable."
The month in review goes on to state that Rockhampton has seen significant development in the short term and holiday accommodation sector in the past five years and supply is now becoming tighter, yet this is a relatively new market sector in which resales are largely untested.
"Multi unit dwellings have always been a sound option for investors due to the lower risk of vacancy, however given the affordability of the Rockhampton region as a whole, rental returns for aged dwellings are also attractive.
"Smaller sub markets in our local area such as Gracemere and the Capricorn Coast are experiencing similar conditions to varying degrees, with Gracemere being the first sub market in the Rockhampton region to reflect a downturn as a direct result of investor withdrawal."
The HTW report suggested that the downturn has been exaggerated by the significant number of non local investors paying highly inflated prices for house and land packages about three or four years ago on the basis of unsustainable rental guarantees which are now expired.
"This market was significantly developed, in particular in Gracemere between 2011 and 2014, off the back of the resources boom in mining towns within easy commuting distance of Rockhampton, including Gladstone.
"Once demand appeared to have reached its peak and the Gladstone market started to show signs of easing, developers of these housing projects quickly withdrew from the local market, particularly in Gracemere, and are no longer active in the area."
Significant declines in values have been experienced in those resales that have occurred, according to the month in review.
"Locally we have been experiencing a downturn in investor activity to date in 2015, however market indicators show this is more as a result of lower confidence and job security rather than the changes to the APRA lending criteria for investors, which appears to be targeting the more heated markets of Melbourne and Sydney.
"Ideally, with the implementation of these new guidelines, interstate investors may start to return to our local market as a 20% deposit on a $200,000 to $300,000 house may be more attainable for investors than a 20% deposit on a $700,000 plus property."
 
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Yields vary from 5% to 8% in Rockhampton: HTW 

ASX-listed developer <a href="https://www.apartments.com.au/developers/stockland">Stockland</a>&nbsp;is continuing its push back into the new apartment market, filing plans for a prominent gateway site between Collingwood and East Melbourne.

The development giant, which moved back into the new apartment space when it announced Stanton Place in Sydney's Rosebery and have since filed plans for a 50-storey tower, are jumping into the off the plan Melbourne market.

They are hoping to create a mixed-use neighbourhood precinct for <a href="https://www.apartments.com.au/new-apartments/79-81-victoria-parade-collingwood-vic-3066">79-81 Victoria Parade</a>, replacing an existing commercial building with a scheme by <a href="https://www.apartments.com.au/architects/john-wardle-architects">Wardle</a>&nbsp;for 478 apartments,&nbsp;ground-floor retail, new public open spaces and a publicly accessible pedestrian laneway.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="72dbbca9-3918-4073-afad-a0c0c35be8e7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20pers.png?VersionId=bzMVUKKxvwuNK1m0v_td126Rgct32uk_" />

The design report identifies the public realm as a central driver of the proposal.

"Collingwood has limited access to high-quality parks and public open space, and the proposal delivers valuable new areas for respite, social interaction and fine-grain retail activity."

The development would deliver a diverse mix of housing, including studio, one, two and three-bedroom apartments alongside townhouse-style residences. Two basement levels are proposed beneath the development, providing resident and retail parking as well as extensive bicycle facilities.

Wardle's design draws heavily on Collingwood's industrial character, using articulated building forms, brickwork and robust materials inspired by the suburb's warehouse and manufacturing heritage. The built form has been broken into a series of smaller volumes to better respond to the surrounding streetscape while extensive communal gardens, rooftop amenities and shared resident spaces are integrated throughout the project.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="7b2135ed-65df-4253-ad53-f216f06bd467" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20podium.png?VersionId=l1B6Hqn8zs772VxH6L1fDPg0KHshan9v" />

The planning documents describe the existing office building as offering little engagement with the public realm, with the redevelopment intended to create a more permeable and active neighbourhood destination.

"The proposed scheme presents a significant opportunity to deliver a vibrant retail plaza and a local neighbourhood hub serving both existing and future Collingwood residents."

The 79–81 Victoria Parade site occupies a strategic location about 1.5 kilometres east of Melbourne's CBD, at the threshold between Collingwood and East Melbourne. It is well served by tram services along Victoria Parade and sits within walking distance of St Vincent's Hospital, Fitzroy Gardens, the Fitzroy activity centre and a broad range of employment, retail and hospitality destinations.

Joel Robinson

Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site

An 1880s timber cottage that has survived Kangaroo Point's transformation from riverside suburb to high-density apartment precinct is set to become the centrepiece of <a href="https://www.apartments.com.au/developers/zephyr">Zephyr Group</a>'s proposed Banksia development.

Rather than see the locally heritage-listed Alpha Cottage as an obstacle to navigate, plans integrate the landmark home into a new 18-storey residential tower, giving one of the suburb's oldest surviving residences a new role as the project's communal hub.

The development application covers a 1,177 sqm amalgamated site at 127-133 Lambert Street and 30 Shafston Avenue, where Zephyr Group plans to deliver 64 apartments above three basement levels. Designed by <a href="https://www.apartments.com.au/architects/joe-adsett-architects">Joe Adsett Architects</a>, the proposal carefully weaves the retained heritage cottage into a contemporary residential scheme, with the tower elevated above the historic building to preserve its presence within the Lambert Street streetscape.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="f9dc5bdb-d691-4c60-bf2b-c3ed405a3e75" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Banksia.png?VersionId=Jh4bjlewU.o8HXWt0V4KaFA_lPcF7KWM" />

Named after the native Australian Banksia flower, the project draws inspiration from its distinctive form through curved balconies, sculpted planter boxes and cascading subtropical landscaping that soften the building's profile.

As the design report explains: "The tower's identity is defined by its feature facade, drawing direct inspiration from the Banksia wildflower. The building departs from traditional rigidity through the use of elegant, GRC-moulded planter boxes that appear as if shaped by the breeze."

Plans propose 64 apartments, comprising 32 two-bedroom and 32 three-bedroom residences, across an 18-storey tower. Residents would have access to rooftop amenities including a swimming pool, spa, gym, sauna, private cinema, dining spaces and landscaped recreation areas, while more than half the site is dedicated to planting and open space.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="16041b5f-033e-47fa-8fbe-9886e072c1f2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pool.png?VersionId=kpx5w4EbLx0_TdWfDoD1vrSs0_cZ5Ao1" />

The heritage component is the defining feature of the proposal. Constructed in the early 1880s and occupied from at least 1883, Alpha Cottage is recognised by Brisbane City Council as an important surviving example of Kangaroo Point's nineteenth-century residential development and as a representative transverse-gable timber cottage. Despite extensive redevelopment across the peninsula, the building has retained a high degree of its original form and internal fabric.

As part of the redevelopment, the cottage will be carefully relocated a short distance within its original allotment to facilitate construction before being returned to a prominent position along Lambert Street. Original verandah elements will be dismantled, catalogued and reinstated, while significant internal features, including timber flooring, wall linings, joinery, doors, windows and hardware, will be retained. Later additions, including the enclosed rear verandah, will be removed to better reveal the building's original form.

Once restored, Alpha Cottage will accommodate the building manager's office, mail room and parcel facilities, providing an active everyday use that supports its long-term conservation rather than preserving it as a static display. The heritage strategy also maintains landscaped space around the building, allowing it to remain visually distinct beneath the new tower.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="43b027e1-576e-4624-a66c-7cc54ea8b7be" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/banksia%20tower.png?VersionId=2W6E2yfkj2AQlWlLeV986grA5zB9f817" />

The Heritage Impact Assessment concludes that "the proposal secures the ongoing occupation, maintenance and conservation of Alpha Cottage," finding the development would result in "no more than a minor impact on the cultural heritage significance" of the building while ensuring its long-term future.

Joe Adsett Architects have designed the tower to sit above the heritage building rather than overwhelm it, creating a clear visual separation between old and new. The development's flowing balconies, integrated planting and organic façade respond to Brisbane's subtropical climate while complementing the restored cottage below.

Banksia occupies a prominent corner in Kangaroo Point within walking distance of the Kangaroo Point Bridge, Brisbane River, ferry services, QUT, the CBD and the Woolloongabba precinct. The site also benefits from direct access to active transport infrastructure and sits within an area earmarked for continued higher-density residential growth.

Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage

Buying into a masterplanned community often means committing to a vision still years from taking shape. At <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>, that vision is already visible.

Residents have moved into the completed first stage, landscaped spaces are established, and the next chapter is now underway. Stage 1 has been completed and settled, with Stage 2 now selling off-the-plan.

Designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a>, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> combines attainable apartment living with sustainability initiatives rarely seen at this price point, including rooftop solar, battery storage and a resident EV-sharing program.

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Located on Schofi​elds Road, just moments from Tal​lawong Metro Station and Schof​ields Train Station, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been designed to appeal to a broad mix of buyers, from first-home purchasers looking for a foothold in Sy​dney's property market to downsizers seeking a connected, low-maintenance lifestyle.

<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been conceived as a thoughtfully planned masterplanned community that will evolve over multiple stages, with buyers now able to secure one, two and three-bedroom apartments within a neighbourhood that is already beginning to establish its identity.

One of the project's defining features is its focus on sustainability. Solar energy systems, battery storage and future EV charging infrastructure have been incorporated throughout the development, reflecting a long-term approach to both environmental performance and everyday convenience.

Sustainability sits at the centre of the development's vision, with solar energy systems, battery storage and future EV charging infrastructure integrated throughout the community.

That emphasis on future-ready living extends beyond the technology. Landscaped communal gardens, outdoor gathering spaces and plans for a future retail precinct aim to create a neighbourhood where residents can access daily conveniences without travelling far from home.

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The apartments themselves have been designed with liveability front of mind. Rather than chasing maximum density, the focus has been placed on creating practical homes with generous natural light, usable layouts and strong connections to outdoor space.

Importantly, these design principles have been applied consistently across the one, two and three-bedroom apartment offerings.

The appeal of <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> is also closely linked to its location within Syd​ney's rapidly evolving north-west growth corridor. Over the past decade, major infrastructure investment has transformed the area, with new transport links, business precincts and community facilities reshaping suburbs like Talla​wong and Schofiel​ds.

The agent says buyers are increasingly recognising the area's long-term potential.

"Typical buyers that we're finding across <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> especially are your first-home buyers, your investors, your upsizers as well as your downsizers," Hawes says.

Connectivity remains one of the project's strongest drawcards. Residents have access to both Tallaw​ong Metro Station and Schofi​elds Train Station, providing links to the Sydn​ey CBD, Norw​est Business Park, Macquari​e Park and other major employment hubs. Retail centres including Rous​e Hill Town Centre and Sch​ofields Village are also nearby, alongside schools, parks and future healthcare infrastructure.

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For Stage 1 resident Roji, it is the balance between convenience and comfort that has defined the experience of living at Kew.

"For me, it's a balance of quality and convenience," she says. "Everything I need is right here."

"If I wanted to catch the train, Scho​fields Station is just around the corner. Tallaw​ong Metro connects me to the city."

More importantly, she says, the development has delivered something that cannot be measured in floorplans or specifications.

"<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> feels like home."

[smartcode_project:default project_id=149637 project_image_fid=351024]

As Stage 2 enters the market, that lived experience may be one of the project's strongest selling points. Buyers are not purchasing into an untested concept or a future promise. They are joining a community that is already taking shape.

Ongoing investment in transport, retail, healthcare and public open space continues to strengthen the appeal of Syd​ney's north-west growth corridor, while <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>'s established first stage provides buyers with a tangible sense of the community's future direction.

For a limited time, buyer can secure a new home at <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> with just a $10,000.

[smartcode_project_cta:default project_id=149637]

Kew Tallawong: A growing community taking shape in Sydney's north-west

<a href="https://www.apartments.com.au/developers/freecity">Freecity</a> has received development approval for its 51-storey mixed-use tower at 153-157 Walker Street, North Sydney, set to be one of the tallest mixed-use residential-led buildings in one of Sydney’s most sought-after commercial and residential addresses.

Lodged as a State Significant Development Application (SSDA) through the Housing Delivery Authority (HDA) pathway and approved by the NSW Department of Planning, Housing and Infrastructure following a comprehensive public exhibition and submissions process, <a href="https://www.apartments.com.au/new-apartments/153-walker-street-north-sydney-nsw-2060">the project</a> will deliver 296 apartments, alongside a 170-room, luxury hotel, activated retail and significant public domain improvements.

Situated just 200 metres from Victoria Cross Metro Station, on one of the largest developable sites in North Sydney, the development will rise to 234 metres, making it one of the tallest buildings in the suburb. With an end value of approximately $1.5 billion, the project responds directly to the NSW Government’s mandate to accelerate housing delivery in well-located, transit-connected areas.

<img alt="Freecity gets green light for mixed-use residential and hotel tower in North Sydney" data-entity-type="file" data-entity-uuid="192ec455-94bf-4e01-83ef-922b1b269d67" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Freecity%20-%20Walker%20Street%20North%20Sydney%201%20RESIZED%20.jpg?VersionId=Bzqp0SBHCDvLAHjA4QXkjuGoOEIh73Jl" />

The apartment mix will cater to a broad range of buyers, with 65 studio and one-bedroom apartments, 139 two-bedroom residences, 35 three-bedroom apartments, 48 four-bedroom homes, and nine penthouses. Residents will have access to a dedicated amenity level on Level 33, featuring a swimming pool with views towards the Harbour Bridge, Sydney Opera House and North Sydney CBD, as well as a gym, library, shared kitchen, lounge and outdoor entertaining areas.

The hotel will occupy the lower six levels of the building and include meeting and function spaces, a wellness centre with gym, yoga studio, swimming pool and sauna, further strengthening North Sydney's growing hospitality offering.

At ground level, the development has been designed to improve pedestrian connections through the precinct. More than 700 sqm of retail space will activate the street frontage, while a landscaped through-site link connecting Walker Street, Little Walker Street and Doris Fitton Park will provide new public open space with seating, paving and extensive native landscaping.

Freecity Group Co-Founder and Joint CEO Tony Sun said the project represents one of the most significant development opportunities currently available in North Sydney.

"This is one of the most significant development sites in North Sydney and it comes at a pivotal moment for the precinct," Sun said.

"North Sydney is undergoing a genuine transformation, and this project will contribute housing the city urgently needs while creating a landmark destination."

Executive Director of Development Michael Romano said demand for both residential and hotel accommodation would continue to strengthen as the Metro precinct matures.

"The structural demand for high-quality housing and hotel accommodation in North Sydney is compelling, and will only grow as the precinct continues to evolve around the new Metro station," Romano said.

Architectus has designed the tower, orientating the apartments to maximise views towards Sydney Harbour while introducing a sculpted façade intended to respond to light, wind and the surrounding skyline.

Architectus Principal Marko Damic said the design sought to create a tower that contributes to the public realm as much as the skyline.

"We wanted to design a tower that doesn't just sit in the skyline but actively participates and contributes to city life," Damic said.

First look: Freecity gets green light for mixed-use apartment and hotel tower in North Sydney

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and <a href="https://www.apartments.com.au/developers/perifa">PERIFA</a> have celebrated the topping out of <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf,</a> marking a significant milestone in the delivery of one of Syd​ney's most anticipated waterfront communities.

Located on Sydney's harbourfront at <a href="https://www.apartments.com.au/developments/putney-nsw-2112">Putney</a>, the project has now reached its highest structural point, with construction progressing strongly towards completion in 2027. 
&nbsp; 
The milestone was celebrated on-site with project partners Phoenix Property Investors, Mitsubishi Estate Asia, Versatile Construction, <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, consultants and stakeholders, to recognise the collective effort behind the transformation of the historic waterfront site into a vibrant new residential, marina and lifestyle destination.

[smartcode_project:default project_id=13962 project_image_fid=362240] 
&nbsp; 
<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will deliver a mix of waterfront residences and terraces, complemented by a private 36-berth marina, waterfront dining opportunities and a revitalised foreshore designed to reconnect the community with the river's edge. 
&nbsp; 
Abadeen Executive Chairman and Founder Justin Brown said the project represented a rare opportunity to create the next chapter in Sydn​ey's long history of successful waterfront precincts. 
&nbsp; 
"Throughout Sydney, some of the city's most sought-after addresses have emerged from carefully considered waterfront precincts such as Woolloom​ooloo Wharf, Walsh Bay and Breakfast Point," Brown said.

[smartcode_project:default project_id=13962 project_image_fid=362566] 
&nbsp; 
"What makes these places so successful is that they become much more than residential developments," Brown said.

"They bring together homes, hospitality, marina facilities, public spaces and a strong sense of community in locations where future supply is incredibly limited."

Brown has long described absolute waterfront land in Sy​dney as "finite."

"Once these opportunities are developed, they are rarely replicated. That's why Syd​ney's waterfront precincts have consistently demonstrated strong demand and long-term value growth over many decades. 
&nbsp; 
"<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is one of the few remaining opportunities to secure a residence within a masterplanned waterfront community that combines direct water access, marina ownership opportunities and a genuine village lifestyle just moments from the Sy​dney CBD."

[smartcode_project:default project_id=13962 project_image_fid=362564] 
&nbsp; 
PERIFA Founder and Managing Director Fabrizio Perilli said the project reflected a shared commitment to delivering exceptional places that create long-term value for residents and the broader community. 
&nbsp; 
"The topping out milestone is a significant achievement for the Versatile Group and a testament to the collaboration between all project partners, consultants and contractors involved," Perilli said. 
&nbsp; 
"Beyond the residences themselves, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will establish a new waterfront destination that celebrates the history, character and lifestyle of this unique location while creating a lasting legacy for future generations."

[smartcode_project:default project_id=13962 project_image_fid=291195] 
&nbsp; 
Construction is being delivered by <a href="https://www.apartments.com.au/builders/versatile">Versatile Construction</a>, with structural works now substantially complete across the precinct. Attention will progressively shift to the construction of the waterview terraces, apartment façades, services and interior fit-out works over the coming months. 
&nbsp; 
With limited residences and marina berths remaining, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> continues to attract strong interest from owner occupiers and downsizers seeking a premium waterfront lifestyle within close proximity to Putne​y Village, Rh​odes, Top Ry​de and the Syd​ney CBD. 
&nbsp; 
As one of the last opportunities to secure a residence within a new masterplanned waterfront community on Sy​dney Harbour, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is expected to remain a highly sought-after address for years to come.

[smartcode_project_cta:default project_id=13962]

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