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A Bellevue Hill home has sold for $4 million at auction - some 33% over the selling agents price guide.
Located at <a href="https://www.realestate.com.au/sold/property-house-nsw-bellevue+hill-132080318" target="_blank">165 O'Sullivan Road</a>, the residence came onto the market as part of a deceased estate.
It had been held by the same family for 92 years.
It features two bedrooms, and a single bathroom, a federation-style verandah, and large level lawns.
The 553 square metre block overlooks Woollahra Golf course.
Despite it selling for substantially more than expected, at $7,233 per square metre, buyers agent Rodney Mcloughlin noted it was under the median price per square meter for Bellevue Hill (which is approximately $8,700 per square metre).
The suburb's outright median house price is $5.6 million, making it Sydney's second most expensive suburb behind only Darling Point. 
Michael Pallier, from Sydney Sotheby's International Realty Double Bay, listed the property.
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j.ballantyne1990-6AQqhLzZaK

Bellevue Hill deceased estate listing sells for $4 million

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A Kewdale, West Australia mortgagee home has been sold for $235,000.
The villa last sold for $287,000 in 2012.
As a result, this sale marks a $52,000 loss for the vendors.
Kim Findlay of Laurie Kelly Real Estate marketed the two bedroom, one bathroom villa.
Situated at <a href="https://www.realestate.com.au/sold/property-villa-wa-kewdale-131822562" target="_blank">21/294 Knutsford Avenue</a>, the home sits on 69 square metres.
The abode was first marketed in 2015 when it sought $385,000, later reduced to $349,000.
In this latest campaign, the home was first unsuccessful at auction before selling later with a price guide that originally started at $250,000 before being reduced to $235,000.
The 1979-built home sold for $280,000 in 2006, meaning this latest sale marks a value reduction encompassing 13 years.
It is located in the lakeside complex of Tanderra Village, described in the listing as "fully renovated".
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
The median sale price for a home in <a href="/news">Kewdale</a> is $319,000, according to the latest CoreLogic data.
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Kewdale, WA mortgagee home sold for $50,000 loss

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EXPERT OBSERVER
The October Labour Force Survey surprised with a –19.0k decline in employment – the market median was for 16k while the lowest forecast in the range was +7k.
It was a surprisingly soft update all the more so for while the participation rate eased back to 66.0% from 66.1%, as you would expect with a soft print on employment, the unemployment still bumped up to 5.3% (5.32% at two decimal places) from 5.2%. Westpac had been looking for a rise in unemployment as we do expect participation to remain relatively robust in the face of softer employment growth.
This month also reinforced the trend that while male participation has lifted off its cyclical low it is the trend rise in female participation that driven force in the outsized gains in the labour force.  
<img src="https://westpaciq.westpac.com.au/wibiqauthoring/_uploads/image/bulletin/Justin_Images/OctNov2019/LFHighlighs.JPG" alt="">
The average monthly employment gain so far in 2019 dropped from 25k in September to 20k in October with the annual pace easing back from 2.5% in September to 2.0% in October. This also saw the employment pulse slow with the six month annualise pace easing to 1.6%yr from a very robust 2.6%yr reported as recently as August. Currently, with participation remaining robust growth in the labour force was still a fast 1.9% six months annualised in October.
By contrast the working age population is currently growing at a 1.6% six month annualised pace so you can see how it is rising participation, more so than population, that his holding up unemployment. As such, with the leading indicators pointing to softer employment growth we remain comfortable with our expectation that a resilient participation rate will see the unemployment rate continue its gradual trend higher into 2020. Our current forecasts is for the unemployment rate to drift higher to around 5.4% by end 2019 or early 2020 then rise to 5.6% by mid-2020.
<img src="https://westpaciq.westpac.com.au/wibiqauthoring/_uploads/image/bulletin/Justin_Images/OctNov2019/LFsixmont.JPG" alt="">
We should also note the jump up in underemployment rate to 8.5% (8.52% at two decimal places) to from 8.3%. It was 8.54% back in August reinforcing a trend drift higher in underemployment. This month there was a contraction in both full-time and part-time employment (–10.3k full-time and –8.7k respectively) driving a 0.2% decline in hours worked.
This highlights that it is a fundamental weakness in the report that is driving underemployment higher rather than some statistical shift. This trend drift higher in underemployment, and the slower pace of gain in hours worked compared to total employment (1.4%yr vs. 2.0%yr), reinforces the observation of the broader slack in the labour market slack beyond the 5.3% unemployment rate.
<img src="https://westpaciq.westpac.com.au/wibiqauthoring/_uploads/image/bulletin/Justin_Images/OctNov2019/LFUnder.JPG" alt="">
The state data is also reveals that the two largest states, NSW and Victoria, are starting to slow; NSW more so than Victoria. Total employment fell –10.3k in NSW with the unemployment rate picking up to 4.8% from 4.5%. In the year, employment growth in NSW has fallen from 3.8%yr in July to 1.5% in October.
Victoria has been a bit more robust than NSW with employment lifting 2.9k there with a smaller rise in unemployment to 4.8% (now on par with NSW which has risen to meet Victoria) from 4.7%. Annual employment in Victoria is still running at a very solid 3.2%yr pace but this is a moderation from the 3.7%yr pace in June. Of the mining states, Qld reported a fall in employment of –14k while employment lifted 6.3k in WA. Unemployment was steady in both states at 6.5% in Qld, 5.7% in WA.
<img src="https://westpaciq.westpac.com.au/wibiqauthoring/_uploads/image/bulletin/Justin_Images/OctNov2019/LFunempl.JPG" alt="">
While today’s update was weaker than we were anticipating, it was not enough to change our view that the labour market is softening gradually which will drive a modest gradual rise in unemployment and underemployment. The Australian economy is a long way away from the RBA’s full employment aim of 4.5% and if the Bank wants to use monetary policy to drive the economy in that direction, it has a lot more work to do. However, the gradual pace of the deterioration will allow the RBA time to monitor the economy before having to act again.
In our view, while rate cuts along with the Government’s tax offset payments should help to support demand, we think it will be insufficient to get economic growth moving back to trend or above in 2020. As we see employment growth continuing to moderate in early 2020, and expect that the resulting decline in participation will provide only a partial offset, we hold to our view that unemployment is likely to hit 5.6% my mid-2020.
JUSTIN SMIRK is ‎a senior economist for Westpac 
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Rising unemployment is working against RBA's objectives: Justin Smirk

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The Di Jones real estate agency is being investigated by NSW Fair Trading after using digitally altered photos to advertise a Wollstonecraft apartment, without any advisory of doing so.
The apartment is being advertised for a November 23 auction with a $775,000 price guide.
The Di Jones advertisement has been amended after the ABC began making inquiries and contacted NSW Fair Trading.
It is not known why Di Jones did not rip out the unsightly carpets.
Below is a photo from the listing of one of the master bedroom.
<a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2019-11-14/wollstonecraft-bedroom-clean-1/11703346"><img src="https://www.abc.net.au/news/image/11703196-3x2-700x467.jpg" alt="a clean and well lit bedroom" title="Wollstonecraft bedroom" width="700" height="467"></a>
The actual bedroom looked like this.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/11/15/Di%20Jones%20bedroom.jpg" alt=""> Source: ABC News
<div class="inline-content photo full">A spokesperson for the state's consumer watchdog, NSW Fair Trading, confirmed real estate agents "must act honestly, fairly and professionally with all parties involved in a property transaction".</div>
"Failure to comply with the rules of conduct also attracts significant penalties."
"It isn't a systemic problem — but like any other industry there are people within real estate who do the wrong thing," the CEO of REINSW Tim McKibbin said.
The kitchen below, used in the marketing, looks relatively tidy, however in person, isn't quite what it seems.
The photos included digitally altered kitchen images.
<div class="inline-content photo full">Large stains on the kitchen and cooker were not visible in the listing's original photos. </div>
<div class="inline-content photo full"><a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2019-11-14/wollstonecraft-kitchen-clean-1/11703356"><img src="https://www.abc.net.au/news/image/11703250-3x2-700x467.jpg" alt="a clean and well lit kitchen" title="Wollstonecraft kitchen" width="700" height="467"></a></div>
<div class="inline-content photo full"> </div>
<div class="inline-content photo full"> </div>
<div class="inline-content photo full">The stovetop is rusted and the counter tops unsightly.</div>
<div class="inline-content photo full"> </div>
<div class="inline-content photo full"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/11/15/Wollstonecraft%20Kitchen.jpg" alt=""></div>
<div class="inline-content photo full">Source: ABC journalist Emma Elsworthy</div>
<div class="inline-content photo full"> </div>
<div class="inline-content photo full">In a text message to prospective buyers, <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2019-11-14/sydney-real-estate-agency-investigated-over-inaccurate-listing/11703152" target="_blank">the ABC reporter Emma Elsworthy</a> said Di Jones announced changes had been made to the online listing "to ensure that we accurately position and represent this property throughout the duration of the sales campaign".</div>
The owner of the apartment was reported to have been a recluse and his death was only discovered months later when neighbours hadn't seen him.
The two bedroom, Selwyn Street apartment spans 86 sqm.
It was bought three decades ago at $205,000.
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Di Jones has blamed "an administrative error." 
Its CEO Rob Ward stated a third-party supplier engaged by Di Jones Lower North Shore edited the published photos without consent.
“The edits made to the photos were not requested by any member of the DiJONES Lower North Shore team."
He said the agency would cooperate and assist with any investigation by NSW Fair Trading.
</div>
</div>
</div>
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Di Jones digitally altered Wollstonecraft photo marketing being investigated by NSW Fair Trading

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City Tattersalls Club, one of the oldest clubs in Sydney, has had its plans for a $200-million mixed-use tower approved by Sydney City Council.
The club in conjunction with developers ICD Property will construct a new 100-room hotel plus 246 apartments at its 194 Pitt Street site.
The City of Sydney Central Sydney Planning Committee gave an envelope approval for the Stage 1 Concept Development Application at its Thursday night meeting.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/11/15/City%20Tattersalls%20Club%201.jpg" alt="">
<div class="in-content-ad">
Under the plans, the almost 125-year-old club's heritage site will have an angular feature to ensure it does not overshadow Hyde Park.
The process to redevelop the club and its airspace kicked off in mid-2013.
ICD developed the Eq Tower in Melbourne.
“It is a result that will safeguard the future of the City Tattersalls Club for another 125 years to come,” City Tattersalls Club chairman Patrick Campion said.
</div>
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$200-million mixed-use City Tattersalls Club tower approved by Sydney City Council

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Auction activity in Sydney is down this week off the back of its its second busiest auction week of the year, with 891 auctions scheduled this week, down 6%
Mosman is tied as the second busiest auction suburb this weekend, and the busiest in Sydney with 17 homes set for the hammer.
The suburb with the most auctions is Mount Waverley, with 21 homes to be auctioned off. There are 1,169 Melbourne homes scheduled for auction this week, with volumes set to rise by 13.3% on last weeks 1,032.
Across the smaller auction markets, auction volumes are set to rise in Adelaide (23.9%), while volumes are down in Brisbane (-21.5%), Canberra (-32.4%) and Perth (-25.5%). Tasmania has 5 scheduled auctions this week.
<img src="https://www.urban.com.au/images/2019/11/14/Auction%20Clearance%20NOV%2017.JPG" alt="">
The dearest auction taking place in Mosman this weekend is for <a href="https://www.realestate.com.au/property-unit-nsw-mosman-132198246" target="_blank">2/23 Moruben Road</a>, a first floor apartment.
Set on 183 sqm, the three bedroom, three bathroom abode holds a sweeping 200 degree view of Sydney Harbour.
Built in 2005, the apartment last sold for $3,350,000 in 2013.
It was last listed as a rental in 2012 seeking $4000/pw, according to CoreLogic and in 2011 it sought $2300/pw.
<img src="https://www.urban.com.au/images/2019/11/14/Mosman%20Auction%202.JPG" alt="">
One of the priciest auctions taking place for a house in Mosman this weekend is <a href="https://www.realestate.com.au/property-house-nsw-mosman-132197142" target="_blank">24 Carrington Avenue</a>.
The three storey waterfront reserve home is like the previous home being just minutes from Mosman village and Balmoral Beach, among other amenities and education facilities.
Last sold for $4.3 million, the home sold under the hammer in November 2016.
The five bedroom, four bathroom home sits on a 597 sqm parcel of land.
<img src="https://www.urban.com.au/images/2019/11/14/Mosman%20Auction%203.JPG" alt="">
Mosman's cheapest property up for auction this weekend is <a href="https://www.realestate.com.au/property-apartment-nsw-mosman-132289206" target="_blank">4/22 Mosman Street</a>.
The one bedroom, one bathroom apartment is set for the auctioneers gavel with a price guide of $575,000.
Last sold for $322,000 the home transacted in 2002.
Positioned within Mosman Towers, which has recently undergone some minor refurbishments, the home encompasses 46.5 sqm.
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Mosman is Sydney's busiest auction suburb this weekend

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Retail leasing in Toowoomba has been relatively subdued in 2019 with vacancy rates within the CBD increasing, according to the latest retail report from valuation firm Herron Todd White.
The property valuation firm found that this is likely due to the completion of the QIC Grand Central Shopping Centre redevelopment in 2018. The centre doubled in size to approximately 90,000 square metres, introducing new discount department stores, supermarket and approximately 160 speciality stores, with the latter considered to have drawn businesses from the CBD.
Rentals appear to have been relatively static, although some lease incentives are available for long term commitments.
The historically low interest rates have resulted in a strong demand for retail properties by investors, however the lack of supply of quality, fully leased properties has limited the number of investment sales and has resulted in a firming of net yields over the past two years.
The report noted, "despite strong investor demand there have been no major retail sales in Toowoomba in 2019."
"This is due to a lack of supply with most property owners electing to hold on to assets with good lease covenants and secure cash flow," it added.
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Toowoomba retail market remains subdued in 2019: HTW Retail

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The Brisbane retail property sector has remained relatively stable throughout 2019 as firm yields continue to be achieved across asset types and price points with strong demand from investors for quality retail assets with strong income security, according to the latest retail report from valuation firm Herron Todd White.
They found, the recent interest rate cuts and the very poor returns from cash are however again putting downward pressure on property yields for good quality investments, despite an industry consensus in late 2018 and early 2019 that yields had bottomed.
The valuers said, "we are yet to see widespread evidence of further yield tightening but this is more a function of very limited levels of stock availability and lesser levels of sales activity."
"At the lower end of the market, the demand for good quality convenience and neighbourhood shopping centres remains strong with high levels of investor interest from private investors in particular."
"Such properties generally continue to trade in the six to seven per cent yield range"
More broadly, sub-regional, regional and major regional shopping centres continue to feel the squeeze as the traditionally high rental levels are in many instances not sustainable.
Whilst good centres are better at maintaining occupancy, for many centres this is being done on a reduced rental structure which has a direct flow through to values.
For secondary centres, the increasing levels of vacancies are becoming harder to hide.
The report authors noted, "much of this pain is still to be worked through and is likely to continue for some time."
"These pressures are impacting on the higher end investment markets where the sentiment for retail has softened considerably."
"Overall, we expect generally stable market conditions to continue for the lower tier retail markets into 2020 on the back of the low interest rate environment."
"In particular, there will continue to be strong interest in secure income producing properties with strong lease covenants, however many leasing markets are likely to remain difficult and there will be a heightened degree of volatility for both rentals and values for secondary assets," they concluded.
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Brisbane retail sector strong with limited supply: HTW Retail

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The Melbourne retail investment sales market has generally remained steady throughout 2019 with firm yields reflecting the limited availability of quality stock and solid purchaser demand, according to the latest retail report from valuation firm Herron Todd White.
They found particularly strong results for well located properties with long term leases to major national retailers and for those with longer term development potential. We have continued to see varied results throughout the wider market.
There have been a number of examples of heavily declining rents which, when coupled with already sharp yields, is resulting in downward pressure on capital values in some areas.
The Melbourne CBD retail market has experienced reasonable levels of leasing demand within the retail core. The Melbourne retail rental market continues to be impacted by changes in consumer behaviour and varied consumer confidence.
The HTW valuers said, "there has been an increasing level of tenant demand from food based operators and an ongoing decline in demand from consumer goods retailers throughout the Melbourne CBD, although we are aware of a possible oversaturation occurring within this sector."
"Subdued consumer spending is causing pressure on retailers’ occupancy costs and downward pressure on rents"
"Discussions with a number of leasing agents throughout Melbourne has identified an emerging trend whereby tenants are seeking to secure short initial terms, sometimes as short as one year, with a number of further option terms which allows for flexibility in the short term but some security and certainty to retain premises should the location prove suitable for the business."
"From a landlord’s perspective, these flexible leasing terms are attracting tenants, covering operating costs and providing for reviews to market should the leasing market improve."
"In addition to the above we have also witnessed a number of tenants being more aware of the impact that significant incentives have on the net effective rents. Tenants appear to now be more open to negotiating lower face rents in lieu of rent-free periods or fit out contributions which provides more transparency for the tenant and landlord," the valuers stated.
Downward pressures on rents in suburban retail strips persisted throughout 2019 with some areas such as Chapel Street continuing to experience high levels of vacancies coupled with decreasing rental rates.
The report authors added, "overall whilst demand for quality retail assets remains strong, particularly for well-located properties which have long term leases and strong lease covenants, there is evidence that tighter commercial lending criteria is restricting access to funds for many potential purchasers."
"Financial institutions are placing an increased focus on factors such as security of income, lease covenant and length of remaining lease term in assessing serviceability of debt."
"As a result of the reduction in the borrowing power of purchasers, we are beginning to see a slowdown in the constant price rises seen over the past five-year period," they concluded.
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Melbourne retail market steady at the peak: HTW Retail

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Overall the Wollongong retail market is headed towards finishing the year as predicted, flat, according to the latest retail report from valuation firm Herron Todd White.
The property valuation firm found that the first half of the year was particularly challenging for retailers due in large part to a stagnant housing market however some hope for a recovery has been provided for the second half of the year and moving into 2020 as the housing market recovers, likely being fuelled by the three interest rate cuts.
It is hoped that these interest rate cuts will stimulate spending in the retail sector.
The report authors stated, "leasing conditions have continued a long term trend of being static given above averagevacancy rates and generally soft demand, while supply continues to be introduced to the market given the large number of mixed-use projects completed in the Wollongong CBD over recent times and with additional projects also being developed at present."
"There is no upward pressure being placed on rental rates with conditions generally favouring tenants," they concluded.
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Hope remains for a Wollongong retail recovery: HTW Retail

The residential transformation of St Kilda Road is set to continue into with more new apartment plans for the sought-after boulevard.

Wing Tai Asia has lodged plans for a major residential tower at 464-466 St Kilda Road, replacing the former VACC House with an 18-storey mixed-use development designed around a retained heritage podium and a sculpted contemporary tower.

The proposal, prepared under Victoria’s Significant Residential Development with Affordable Housing pathway, would deliver 325 apartments and ground-floor retail across the prominent 4,653 sqm boulevard site in Melbourne’s St Kilda Road North Precinct.

The project centres on the adaptive reuse of the site’s heritage-listed VACC Building, an eight-storey office designed by Bernard Evans that has occupied the address for decades. Planning documents state the development would involve “carefully dismantling and conserving off-site the original metal fabric of the podium visible from St Kilda Road,” before reinstating it as the defining frontage of the new scheme.

Above the restored podium, Wing Tai is proposing a curvilinear residential tower. The scheme includes 172 one-bedroom apartments, 63 two-bedroom apartments, 66 three-bedroom apartments, and 24 four-bedroom apartments, alongside two ground-floor food and beverage tenancies fronting St Kilda Road.

The tower has been designed with substantial articulation and variable setbacks to minimise perceived bulk and maintain view corridors along the boulevard. Urbis, which prepared the planning report, said the design “has been significantly articulated through a curvilinear design” with “an interplay with materials, façade expression and depth” to create visual separation and visual interest.

The proposal also includes 254 basement car spaces, landscaped pedestrian links connecting St Kilda Road and Queens Lane, and a biophilic landscape strategy featuring canopy trees, raised planters, cascading greenery and a glass oculus pool overlooking the eastern frontage.

Planning documents confirm the $270.1 million development will contribute 3 per cent of project costs to the Social Housing Growth Fund as part of the application process.

Wing Tai acquired the St Kilda Road property in 2018 alongside Abacus Property Group for $95.38 million, before later consolidating ownership of the site. The property previously served as the Victorian Automobile Chamber of Commerce headquarters for around 60 years.

The transformation of the St Kilda Rd boulevard is already beginning to materialise, with a number of high-profile projects recently completed, launched, or approaching launch as developers continue to back the long-term appeal of the precinct.

Among the most notable recent completions is Louise by Samuel Property Group, just off the strip on Queens Lane, the same pocket Hirsch &amp; Faigen recently launched The Queensbury. Mirvac is too on the same street with The Albertine, which is approaching completion.

Dexus recently secured approval for its slice of St Kilda Road, while Gurner also has approved plans for the precinct.

Joel Robinson

Wing Tai unveils 325-apartment St Kilda Road tower on former VACC House site

Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
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