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Throughout the second quarter of 2019, the total value of resales for a profit in Sydney was $4.404 billion and the total value of resales at a loss was $178.7 million, according to the latest Pain &amp; Gain report from CoreLogic.
Based on this data, Sydney accounted for 24.6% of all resales at a profit nationally over the quarter and 27.0% of the total value of resale losses.
<img src="https://www.urban.com.au/images/2019/10/1/PG%20Sydney%202.JPG" alt="">
The council areas with the lowest share of resales at a loss over the quarter were Randwick, The Hills Shire and Hawkesbury while the greatest share of loss were recorded in Strathfield, Botany Bay and Strathfield.
With dwelling values in Sydney starting to rise over recent months CoreLogic believes we are likely to see the share of resales at a loss fall over the coming quarters.
<a href="https://www.propertyobserver.com.au/images/2019/10/1/PG%20Sydney%201.JPG" target="_blank">Click</a> to enlarge
<img src="https://www.urban.com.au/images/2019/10/1/PG%20Sydney%201.JPG" alt="">
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j.ballantyne1990-6AQqhLzZaK

Sydney resales accounted for 25% of all profitable resales this quarter: CoreLogic

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OneMarket, the early stage technology start-up that emerged as an online shopping experiment from the Westfield group, is set for an orderly winding-up.
"The decision has been a difficult one but, having carefully weighed the alternatives and assessed the attendant risks, the OneMarket Board believes that this is the right decision to make in the circumstances," shareholders were told.
OneMarket will also seek to be delisted from the ASX, where it reportedly has lost $240 million over the past two years.
When it listed it had around $200 million in cash, plus $42 million in capitalised development costs.
The amount currently available for cash distribution exceeds the share price, hence the board publicly inviting takeover proposals.
OneMarket will welcome proposals from third parties to acquire all the shares in OneMarket and it will also continue to seek potential buyers for OneMarket’s assets.
The prevailing price immediately prior to the AGM announcement of the conducting of a strategic review was 67 cents.
"The Board estimates that the amount available for an initial distribution will likely exceed the volume weighted average share price of around $0.85 per share since the AGM."
The Lowy Family Group and Unibail-Rodamco-Westfield (who have a shareholding in OneMarket of approximately 9.5% and 4.9% respectively) have both indicated that, in the absence of a superior proposal emerging, they will support the recommendation of the board.
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Lowy's OneMarket online shopping experiment set to be wound-up

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League legend Matty Johns and his wife Trish have listed their Collaroy home they purchased 12 years ago.
The couple, have loudly ­expressed their love of living on the northern beaches, since taking the advice of his former teammate Phil Bailey.
<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/2019/10/31/collaroy%202%201.jpg" alt="">
The four bedroom, three bathroom French Provincial inspired home stems from a renovation and extension in 2013.
It has been listed by Brendan Pomponio from Belle Property.
There have been sales up to $15.5 million in the exclusive Collaroy basin.
<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/2019/10/31/collaroy%203%201.jpg" alt="">
The former Test five-eighth once indicated he loved the relaxed lifestyle and the friendly people in the neighbourhood.
“When I was living in Newcastle anyone from the Northern Beaches were silvertails,’’ the Fox Sports presenter once said.
“But Collaroy is a blue-collar area. Every second bloke you run into is a tradesman.
“Coming from an old mining town like Cessnock, it might sound a bit funny but I regard ­myself as a coastal person now.’’
They are seeking $5.5 million.
This article first appeared in The Sunday Telegraph. 
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Matty Johns and wife Trish list Collaroy home

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Based on resales across Greater Brisbane over the second quarter of 2019, the total value of resales at a profit was $1.341 billion, according to the latest Pain &amp; Gain report from CoreLogic.
The total value of resales at a loss was recorded at $37.7 million.
CoreLogic found Brisbane generated 8.2% of the total value of resale profits nationally over the quarter and 5.2% of the losses.
<img src="https://www.urban.com.au/images/2019/10/1/PG%20BRIS%202.JPG" alt="">
The Brisbane council regions with the lowest proportion of resales at a loss were Redland, Lockyer Valley and Moreton Bay while the highest proportion of resale losses occurred in Scenic Rim, Somerset and Brisbane.
The large divergence between houses and units for loss making sales is likely attributable to higher supply levels across key areas of the inner city and the subsequent falling unit values.
<img src="https://www.urban.com.au/images/2019/10/1/PG%20BRIS%201.JPG" alt="">
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P&G Greater Brisbane resales at a profit valued at $1.35 billion: CoreLogic

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Over the June 2019 quarter, resales of Melbourne properties generated $4.316 billion worth of profits and $70.7 million in losses, according to the latest data from CoreLogic's Pain &amp; Gain Report.
These figures indicated that Melbourne generated 26.4% of total resale profits nationally over the quarter as well as producing 9.8% of total resales losses.
<img src="https://www.urban.com.au/images/2019/10/1/PG%20MELB%202.JPG" alt="">
Over the quarter, there were no resales at a loss in Macedon Ranges and Moorabool.
The council regions with the highest proportion of resales at a loss were Melbourne, Port Phillip and Stonnington.
With dwelling values now starting to rise throughout the city, the share of houses and units resold for a loss may start to fall over the coming quarters.
<img src="https://www.urban.com.au/images/2019/10/1/PG%20MELB%201.JPG" alt="">
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35% of all Melbourne property resales were at a loss: CoreLogic

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During the second quarter of 2019, resales of Adelaide properties generated $693.1 million in profits and $14.7 million in losses, according to the latest data from CoreLogic's Pain &amp; Gain Report.
Their findings indicated, these resales accounted for 4.2% of total resale profits nationally and 2.0% of resale losses. 
<img src="https://www.urban.com.au/images/2019/10/28/Resales%20ADL%201.JPG" alt="">
There were no resales at a loss over the quarter in Mallala and a low share of losses in Burnside and Mitcham while the greatest share of resale losses occurred in Adelaide, Playford and Gawler.
Adelaide is continuing to see moderate declines in dwelling values and as a result the share of resales at a loss increased moderately over the past quarter and this trend is expected to continue.
<img src="https://www.urban.com.au/images/2019/10/28/Resales%20ADL%202.JPG" alt="">
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Largest share of SA's property resale losses were in Adelaide: CoreLogic

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Caydon's re-development of the iconic Nylex clock site in Cremorne, Melbourne saw the project's first building top out.
The nine-level, 8,800 sqm commercial tower at the site’s southeastern corner was fully leased to software company MYOB in 2018.
Probuild, which won the contract to build the commercial tower in May 2018, will complete construction of the top floor with full fit-out expected to be complete by mid-2020.
The building forms part of Caydon’s masterplan for the site known as The Malt District.
Development at the site incorporates retention of numerous concrete silos, as well as the Victoria Bitter sign and the famous Nylex clock, which will be fully restored and reinstated.
Amenities will include a micro-brewery and pub, while public green spaces, courtyards and laneways will connect new and old buildings in the mixed-use precinct with new roads, pedestrian and bicycle paths.
Major work on Stage Two of the project involving restoration and retention of heritage structures and assets is expected to progress in November with construction expected to begin on two further buildings designated for commercial use. 
Work is also progressing on Coppins Corner, a 15 and 12 split-level tower featuring 209 one, two, and three-bedroom apartments, 60% of which have been sold.
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First commercial tower in Cremorne's Nylex clock site tops out

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A prime Taringa development site in Brisbane's Inner West has been offered to the market 100% preleased to Coles.
The purchasor will obtain the development approvals and construct the development.
Savills National Retail Investments Jon and Peter Tyson are marketing the 5,306 sqm site.
Situated at 216-224 Moggill Road, the site is for sale via an expressions of interest campaign closing October 31.
The Coles lease is for a period of 12 years plus options and includes the construction of a Liquorland.
Located 5.5 km from the Brisbane CBD, the GLA of the property will be 2,840 sqm (proposed).
The freestanding supermarket will be the most convenient in the area, according to the marketing material, with access to over 17.2 million cars annually.
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Savills marketing Inner West Brisbane development site offered with Coles pre-lease

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A private South Australian investor has paid $12.95 million on a 7.57 per cent yield for Moelis Australia’s Hollywood Plaza Large Format Retail Centre at Salisbury Downs in Adelaide’s outer north.
According to CBRE Director Investments Justin Dowers who brokered the Expressions of Interest deal with Mark Wizel, Kevin Tong, and Michael Fenton, the property attracted significant local and international interest eliciting seven formal offers.
The asset features include, full occupancy, the integrated nature of the six tenancies and space available for future expansion.
It is located opposite the Hollywood Plaza shopping centre.
The fully leased, 8080 sqm centre, returns an annual net income of $980,000 from six separate tenancies including Cheap as Chips, Supercheap Auto, Salvation Army and Anytime Fitness, with a WALE of 5.8 years.
Mr Wizel said the 3.7 hectare site presented investors with significant value-add or expansion opportunities, including mixed-use development, due to the low 22 per cent site coverage.
Mr Dowers said some positive news regarding the South Australian economy was also noted by purchasers.
"South Australia is currently experiencing a period of growth buoyed by significant investment in key sectors including the ship building program and the $5 billion investment in the largest teaching hospital in the Southern Hemisphere, projects which are expected to benefit the state for decades to come," he stated.
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Adelaide's Hollywood Plaza retail centre sold for $13 million

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Salesforce has announced a Salesforce Tower Sydney, a 53 storey office tower in the heart of the CBD.
Upon completion in 2022 not only will the building be the tallest in Sydney but also the second tallest in Australia.
Salesforce employees will start moving into Salesforce Tower Sydney beginning in late 2022.
Plans for the building include a top “Ohana Floor” an open hospitality space for Salesforce employees, customers and partners, which will also be available for non-profits and local education groups on weeknights and weekends at no cost.
Salesforce Tower Sydney is one of ten Towers the company has announced including its headquarters in San Francisco, New York, Chicago, London, Tokyo, Dublin, Indianapolis and Atlanta.
The announcement comes on the heels of Salesforce being named Australia’s Best Place to Work. 
They also plan to hire an additional 1,000 employee's in Australia.
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New Salesforce Tower Sydney to be tallest building in the city

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

Joel Robinson

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

&nbsp;

Developer GURNER™ Group has revealed $1.65 billion in residential sales nationally across the 12 months to December 2025, driven largely by the continued momentum of its Docklands wellness-focused precinct, Elysium Fields.

The sales result was generated across seven projects in Victoria and New South Wales, headlined by Elysium Fields, GURNER™’s $2.75 billion mixed-use precinct planned for Harbour Esplanade in Docklands.

The project has recorded more than $500 million in sales across the first three towers, equating to around 580 apartments sold.

The first tower, Helios, has now sold out of its 240 private residences, with GURNER™ preparing to release a premium penthouse collection comprising 15 three-bedroom penthouses in coming weeks.

[smartcode_project:default project_id=144441 project_image_fid=370975]

Elysium Fields is being developed on the long-held 20,000 sqm Docklands site at 208-226 Harbour Esplanade, which had remained undeveloped for more than two decades prior to GURNER™ taking over the project around four years ago.

Construction has now commenced across four towers ranging between 18 and 30 storeys, with Hamilton Marino and Maxcon appointed as builders.

Once complete, the precinct is expected to comprise around 1,100 residences, alongside retail, hospitality and public realm uses integrated throughout the site.

[smartcode_project:default project_id=144441 project_image_fid=370981]

Designed by Fraser &amp; Partners in collaboration with GURNER™ Design House, the project has been positioned around the developer’s broader focus on wellness-led residential living.

“We don’t sell apartments. We create a true luxury lifestyle that simply doesn’t exist elsewhere in the market today,” Founder and Executive Chairman Tim Gurner said.

“To deliver that requires an extraordinary level of detail, coordination and discipline across multiple verticals, from design and hospitality through to wellness and service.”

“We’ve always believed that living extends far beyond the physical residence. It’s about how you feel the moment you arrive, how you live day-to-day, and the ecosystem that supports that.” 
[smartcode_project:default project_id=144441 project_image_fid=370977]

The project’s design places a heavy focus on landscaping, wellness amenities and biophilic design principles.

Plans include around 3,700 sqm of landscaped gardens and open space throughout the precinct, alongside a retail and dining offering spanning approximately 5,000 sqm.

The broader public realm strategy centres around what GURNER™ describes as the “Path of Life”, an urban forest and landscaped pedestrian environment intended to connect the various buildings and wellness spaces across the precinct.

The apartments themselves will incorporate a range of wellness-focused inclusions, including purified air and water systems, circadian lighting, antimicrobial surfaces, and optional in-home wellness upgrades.

[smartcode_project:default project_id=144441 project_image_fid=370980]

Gurner said the company’s experience through its Saint Haven wellness clubs had directly informed the residential offering now being incorporated into Elysium Fields.

“We’re seeing a clear global shift toward longevity, performance and proactive health,” Gurner said.

“Our role is to deliver that in a way that feels seamless, highly private and beautifully resolved within the environments we create.”

A large component of the wellness offering is planned through the resident amenity and health facilities proposed within the precinct.

That includes plans for bathing and recovery facilities spread throughout the towers, incorporating mineral pools, saunas, steam rooms, flotation therapy, red light therapy and wellness lounges.

The developer is also seeking approvals for what it describes as a “reverse ageing medical clinic” within the precinct.

[smartcode_project:default project_id=144441 project_image_fid=370978]

According to project information released by the group, the proposed facility would include cryotherapy, IV infusion therapy, infrared and dry saunas, PEMF beds, MRIs, DEXA scans, brain scans and blood analysis services.

Within the first tower, Helios, residents will also have access to a dedicated amenity offering known as the Sky Private Club.

The upper 15 levels of the building will include private lounges, dining spaces, rooftop amenities and optional private wellness studios integrated within residences.

The Helios tower itself comprises 260 apartments ranging between 60 sqm and 300 sqm, including a collection of penthouses.

That includes a planned two-storey penthouse spanning around 600 sqm with uninterrupted bay views.

The Elysium Fields precinct is being delivered in partnership with Digital Harbour Holdings, a consortium that includes the Liberman family, which controls the development rights across the Docklands site.

[smartcode_project:default project_id=144441 project_image_fid=370979]

The sales result comes as GURNER™ continues expanding its national development pipeline beyond Victoria.

“We have a strong pipeline across Australia and are now focused on scaling into key markets including New South Wales and Queensland, while continuing to build on our Melbourne base,” Gurner said.

“We currently have more than $3 billion in the market, growing to over $5 billion by October, and expect to materially outperform last year in the 2026 calendar year.”

The result also reflects the continued strength of the upper-end apartment market in Melbourne, particularly for owner-occupier-focused product with large-scale amenity and lifestyle offerings.

[smartcode_project_cta:default project_id=144441]

Record result anchored by the Group’s “utopian” Elysium Fields precinct – defying market headwinds in Docklands.

Elysium Fields drive Gurner to $1.65 billion in apartment sales over 2025

National Australia Bank (NAB) will fund <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera</a>, a $1 billion, 52-level luxury residential tower being developed by Central Equity in one of the Gold Coast’s most tightly held coastal locations at Northcliffe.

The project, launched recently by <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a>, one of Victoria’s largest private residential developers, comes at a time when construction funding for large residential developments has become increasingly competitive as lenders tighten exposure to the sector.

Multiplex has been appointed the builder, and construction is now underway.

[smartcode_project:default project_id=108274 project_image_fid=365784]

Since its first project, Central Equity has delivered more than 85 residential developments with a combined end value exceeding $8 billion.

Palmera reflects Central Equity’s growing focus on the Gold Coast luxury apartment market and continues a relationship between Central Equity and NAB that dates back to the late 1980s, when the bank funded one of Melbourne’s earliest inner-city residential towers at a time when high-rise apartment living in the CBD was largely unproven.

“NAB’s funding of Central Equity’s $36 million CBD development in the late 1980’s to the financing of the billion-dollar tower today highlights the long-term relationship between the two organisations in delivering major residential projects” said Central Equity Founder and Chairman Eddie Kutner.

He said NAB’s early support was instrumental in helping establish the company’s development model.

“When we commenced our first residential tower in the late 1980s the concept of funding off-the-plan apartments was still largely untested in Australia,” Kutner said.

“NAB recognised the opportunity early and supported the project when others were uncertain. That relationship has now continued for more than 37 years across many developments.”

[smartcode_project:default project_id=108274 project_image_fid=365771]

Central Equity was established in 1987 when Melbourne’s CBD and Southbank precinct were still dominated by warehouses and commercial buildings. Fewer than 100 residents lived in Southbank at the time, and large-scale residential development in the inner city was not widely considered.

Recognising changing demographics and lifestyle preferences, the company began developing high-rise residential projects designed to bring permanent residents into the city centre.

Central Equity has provided accommodation for approximately 40,000 residents across Melbourne’s CBD and Southbank, while also incorporating supporting infrastructure including essential lifestyle facilities like retail spaces, childcare facilities and neighbourhood activity centres.

Central Equity has spent many years assembling the Palmera development site on the corner of Garfield Terrace and Frederick Street in Northcliffe, creating a supersite of around 3,300 sqm.

The developer said the Palmera apartment tower reflects its long-term view of the Gold Coast as a growing and increasingly diversified economy.

[smartcode_project:default project_id=108274 project_image_fid=365768]

Supported by infrastructure including the light rail network, major road upgrades expanded education, hospital and medical facilities and continued expansion at the Gold Coast Airport with more international and domestic flights.

Positioned in the tightly held Northcliffe precinct, the 52-level tower will deliver 347 apartments, targeting buyers seeking a high-end coastal lifestyle, from downsizers to interstate investors.

Designed by Marchese Partners with interiors by DBI, Palmera has been conceived as a next-generation residential offering, featuring a collection of oversized apartments, with premium three-bedroom residences offering sweeping northern views stretching from Surfers Paradise through to Burleigh Heads.

[smartcode_project_cta:default project_id=108274]

NAB funds $1 billion Surfers Paradise apartment development, Palmera

Two years after completing one of the newest developments in North Sydney, developer <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a> is turning its attention to the rapidly evolving St Leonards apartment market.

The developer, which completed AURA by Aqualand on North Sydney's Walker Street, has lodged plans for a 5,918 sqm site at <a href="https://www.apartments.com.au/new-apartments/33-37-herbert-street-st-leonards-nsw-2065">33-37 Herbert Street, St Leonards,</a> seeking approval for a pair of residential towers rising above a shared podium opposite Royal North Shore Hospital.

The proposal forms part of the broader transformation underway across the St Leonards-Crows Nest precinct, where former industrial and commercial sites are increasingly being redeveloped into high-density mixed-use projects tied to major transport infrastructure.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="2cc428cf-fe70-4cac-9cd5-264ad53af62c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.56%E2%80%AFAM.png?VersionId=otKSnHtbjAvAddOnovyXQMgcAwE6DMe1" />

According to the planning documents, the site sits “within the St Leonards–Crows Nest Strategic Centre, identified by the NSW Government as a key area for accommodating future jobs and housing across Sydney.”

The proposal has been designed by fjcstudio, formerly FJMT Studio, and is being progressed through the State Significant Development pathway due to its scale and affordable housing provision.

The scheme would comprise 413 apartments, including 46 affordable housing units, alongside retail and commercial uses fronting Herbert Street. The project would also include communal open space, landscaping, a swimming pool, gymnasium, children’s play areas and podium-level resident amenities.

Planning documents show the development would consist of a part-13, part-39 storey tower form positioned above a four-storey podium.

“The development comprises a unified podium that activates the street interface, and two setback towers to accommodate new housing supply while maintaining an appropriate human scale at ground level,” fjcstudio noted in its Design Report.

The northern and southern towers have been shaped to respond to the surrounding skyline while also limiting overshadowing impacts to nearby public open space, particularly Talus Reserve.

The design report said the differing tower heights were intended to “contribute to a varied skyline while responding to the surrounding built form context and solar access considerations.”

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="36da62dc-ff9e-41f2-a7e3-7be38373751c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.45%E2%80%AFAM_0.png?VersionId=Mo6Rp2r.XRLTzIfg_PEEpw8NepDH8UBs" />

The site sits directly opposite Royal North Shore Hospital and within walking distance of both St Leonards Station and the new Crows Nest Metro station.

While the site itself sits just outside the formal Crows Nest Transport Oriented Development boundary, the planning documents repeatedly reference its alignment with the broader TOD objectives reshaping the Lower North Shore.

“The site is located adjacent to St Leonards Station and in close proximity to Crows Nest Metro which is within the Crows Nest Transit Orientated Development Accelerated Precinct which has been identified by the NSW Government to support housing delivery,” the Design Verification Statement noted.

According to fjcstudio, the project has been designed to respond to the broader transition occurring across St Leonards, where increasing residential density is being concentrated around transport infrastructure and employment hubs.

“The broader precinct is undergoing significant change, with a mix of existing mid-rise buildings and newer high-density developments,” the report stated.

“Recent and approved projects indicate a consistent shift toward taller built form, typically organised as tower-and-podium typologies with more active ground levels.”

The proposal includes close to 6,000 sqm of retail and commercial space across the ground floor and podium levels, designed to create a more activated street edge along Herbert Street.

Aqualand’s plans would also introduce a landscaped podium shared between the two towers, with communal open space in the form of a podium rooftop designed to support resident interaction and improve urban greening outcomes. The scheme would also introduce pocket parks at the northern and southern ends of the site, including a landscaped area at the corner of Herbert and Ella streets designed to improve pedestrian amenity and soften the streetscape.

&nbsp;

The proposal is being progressed through the NSW Government’s Housing Delivery Authority pathway, which was introduced to accelerate housing supply across the state. The application was declared State Significant Development in April 2025 following an expression of interest process.

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St Leonards has been particularly active with new developments in recent weeks. Developer SP Setia’s <a href="https://www.apartments.com.au/news/nsw/first-look-sp-setia-targets-st-leonards-skyline-with-40-storey-tod-tower">plans for a new 42-storey tower</a> recently went on exhibition through the same pathway, while <a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">Stockland’s 52-storey tower proposal</a> was also recently unveiled.

Aside from the St Leonards project, which is expected to take around nine months to move through the approvals process ahead of a potential 2027 launch, Aqualand is also preparing to launch Boronia, a new apartment project in Roseville comprising around 111 apartments on Larkin Street.

The developer also has approvals in place for the next stage of the Barangaroo precinct, which will feature new residential, retail, hospitality and community uses, alongside a new metro entry across the five-hectare site.

More than 50 new retail destinations are planned for Central Barangaroo, alongside a 270-metre-long boulevard connecting Hickson Park to Nawi Cove. Together with Harbour Park, more than 50 per cent of the precinct will comprise public open space and parkland.

Staff reporter

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