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A heritage-listed church in Sydney’s inner suburb of Redfern has been listed for auction with expectations of between $2.5 and $3 million.
The Uniting Church is selling the Tongan Parish church at <a href="https://www.commercialrealestate.com.au/property/118-regent-street-redfern-nsw-2016-2013759335" target="_blank">118 Regent Street, Redfern</a>, as maintenance is becoming expensive.
The Gothic-style church, built in 1872, will go to auction on September 6 through CBRE.
The site is zoned B4 mixed use and the zoning allows for education, commercial or residential use.
The listing agents are Peter Vines and Stephen Grant of CBRE.
“This Victorian Gothic Church is an extremely unique opportunity within South Sydney, as it’s zoned B4 mixed use, so it will suit savvy owner occupiers, investors and developers,” Grant was quoted as saying by Fairfax Media.
Vines said the ”striking architecture and the proximity to the city” made it ”unique”.
“It would be an unbelievable creative office space for the right person,” he said.
The floor area is 360 sqm.
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The site also had rare ‘place of worship’ rights which was expected to draw interest from other church groups, he said.
The Regent Street church has Local Heritage listing, meaning that its facade, wooden staircase up to the tower and wooden altar would all have to be maintained as part of new designs.
According to the heritage listing, the church took four years to build and cost £1000, which was paid for by the congregation.
It has 360 square metres of floor space, two street frontages and is 300 metres from Redfern train station. 
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j.ballantyne1990-6AQqhLzZaK

Uniting Church lists Redfern church for sale

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Sydney has averted a crisis of defaulting off the plan Chinese apartment buyers because of the lending role of property developer Harry Triguboff, according to commentator Robert Gottliebsen.  
 "The Australian banks are patting themselves on the back because very few of them have major exposures to the Chinese apartment purchasers in Melbourne and Sydney," he wrote in The Australian.
"In Sydney there would have been an enormous crisis with settlements by Chinese purchasers but for the “bank of Triguboff” which has loaned $280 million to Chinese buyers who otherwise couldn’t settle," he said.
But he added with the kind of exposure that major banks have to the residential property market, if a home building slump triggers a further price downturn via higher unemployment then the banks will face mortgage losses.
If prices do fall, it will allow first home buyers to get into the market but the economic impacts of the fall will work against the first homebuyer. 
A fall in the rate of home building has started and if it gathers pace, could have serious economic impact, according to the columnist.
The repercussions could be a rise in unemployment, defaults on bank mortgages and lower stamp duty for state governments.
“And all this is being brought about by a set of housing-boom nervous banking regulators who, if there is a slump in construction, are likely to face decisions they have never before encountered,” says Gottliebsen in The Australian.
But with the kind of exposure that major banks have to the residential property market, if a home building slump triggers a further price downturn via higher unemployment then the banks will face mortgage losses.
If prices do fall, it will allow first home buyers to get into the market but the economic impacts of the fall will work against the first homebuyer.
Gottliebsen advocates a greater efficiency in the development approval process, but says state governments won't change without a crisis. But such a crisis will take place if the rate of the rate of building declines sharply. State governments might then be forced to start to take the actions required to lower costs by streamlining the approval processes to enable first home buyers to get into the market.
Brisbane is leading the fall in construction, where the situation might become “quite ugly”, he writes.
In Sydney, Harry Triguboff says he expects apartment building rates to fall between 25 and 33 per cent over 12 to 18 months which, in anyone’s language, is a major decline.
Melbourne is mixed, with demand strong for apartments and houses in suburban and outer suburban areas including Geelong, but a glut in the inner city.
But despite the city’s apartment problems, planning regulations have changed and developers who don’t take advantage of their current permission will have to build under the new regulations, which will reduce the value of their property.
However, once Brisbane and Sydney building construction rates fall, Melbourne will follow, he says.
“I can’t recall such a widespread vigorous attack on any Australian industry, let alone one that has been driving the economy since the end of the mining boom.”
“The boom in inner city dwellings was created for the most part by Chinese demand. That demand has been hammered first by increasing regulations from China on taking money outside the country; second by the refusal of the Australian banks to fund the Chinese, and finally by a series of taxes and charges being imposed by state governments to make sure the Chinese feel unwelcome.”
Apartment demand from Chinese has now nearly halved, he noted adding local demand has risen but doesn’t offset the gap left by the Chinese. 
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Bank of Triguboff saved Sydney from enormous Chinese apartment buyer settlement crisis

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Billionaire Brett Blundy has sold his luxury Hawkesbury River property, Sweven.
Ending a four-year on-off sales campaign, property data website Pricefinder has an $18.75 million notification on the sale.
A $7.3 million sale at Cattai set a year ago by Gendy and Hugh Parry-Okeden ranks as the highest sale at Cattai.
The Timothy Moon-designed property took three years at a $8 million cost on its 57 hectare estate which was bought in 2001 for $2.05 million.
The Timothy Moon design was completed in 2009.
Neville Rava, of Cutcliffe Property, declined to comment.
Brett Blundy listed his Rose Bay harbourfront at $45 million in February 2016.
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Brett Blundy sells Sweven at Cattai for $18.75 million

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Domain is expected to be spun out of Fairfax in November, pending a shareholder vote at an extraordinary general meeting.
Fairfax updated the stock market on progress of its plans for the Domain group today.
Fairfax plans to retain a 60 percent stake in Domain, with the remaining 40 percent distributed to Fairfax shareholders.
Nick Falloon will be chairman of Domain. 
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Domain delivered 19% growth in digital revenue but a 12% fall in print ad revenue over the past financial year.
Domain’s operating expenses increased 17%, but its print costs fell 6%, largely as a result of a new magazine format.
EBITDA also fell 6% in the first half as a result of investment, but improved in the second half.
The publishing giant’s biggest area of growth was Domain Group, which climbed 8.1% to $320.3 million revenue from $296.3 million for FY16.
Fairfax expects a scheme booklet to be available in late September, then a roadshow in November along with a shareholder vote to approve the listing in early November.
Last week the REA Group announced a 19 percent fall in full year profit to $206 million, mainly due to a write-down in the value of the company’s Asia business.
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Revenue was up 16% to $671.2 million.
Net ­profit amounted to $206.3 million in the year ended June 30, down from $253 million in the prior year.
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Domain set to be floated in November by Fairfax

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One of Brisbane's top hairdressers has snapped up the first commercial tenancy at Kangaroo Point's new apartment development, The Marc.
Sarah Seymour, a leading hair stylist who has worked with some of Australia's top models, Sydney Fashion Week and runs Brisbane's most regarded salons for the past decade, will open the doors to her first New York style, loft salon The Mane Attic, on August 26.
Seymour committed to a 48 sqm street level tenancy on a five-year lease, with options at the <a href="https://www.themarcapartments.com/" target="_blank">616 Main Street</a> development.
The space shares a floor with the apartment building's lobby and will spill out onto Main Street.
Three tenancies remain at The Marc, a short walk from the Kangaroo Point lookout, with leasing rates priced from $700/sqm and spaces ranging in size from 60 sqm to 121 sqm.
Seymour said in addition to The Marc's chic architecture, its prime location and proposed Boulevard style streetscape were key attractions.
"The Marc is a very contemporary building and while it's located just a few minutes from the city, it's out far enough out to allow my clients to switch off for a few hours in a more relaxed environment," she said.
"My salon will radiate a New York loft style design and will complement it perfectly.”
The Brisbane City Council has cited Kangaroo Point's Main Street as the east side's 'high street' and Seymour says the street's Boulevard style development covenants were great signs of the area's future growth.
The Marc consists of 69 contemporary apartments and is almost 85 percent sold with sales in excess of $30 million. The building is expected to be completed by the end of August.
Development partner Anthony Conomos said in addition to The Marc's location close to the CBD, Main Street's boulevard-style development covenants were proving key benefits to prospective tenants.
"Kangaroo Point is the first eastern suburb outside of the Brisbane CBD and Brisbane City Council granted Main Street the trophy 'high street' status, meaning the area has great appeal for both residents and visitors from surrounding regions," he said.
The four commercial spaces are on the ground floor. Bulk of the foundational work, such as installing air-conditioning, grease traps and exhaust ducting have already been done.
The eight-level apartment project, developed by joint venture partners - Artaria Developments, Main St (Bris) Pty Ltd and Chad is the third project by the group in Kangaroo Point.
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Top hair stylist leases space in Brisbane's Kangaroo Point development

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GURNER has officially unveiled the first two towers of its $600 million landmark Brisbane development, FV.
Founder Tim Gurner says the project is “even better” than he had first envisioned.
“When we first unveiled our ambitious plans for FV, we had a lot of doubters and naysayers. People literally laughed at us and said we would never get the project off the ground," he said.
“All that speculation just made us more motivated to deliver something truly incredible and special to the market, and I believe we have achieved that and more.
“Everything about this project, from the incredible lobbies, the FV Private Club over 2,500 sqm and 5-star resort-style service, through to the luxury-appointed interiors and striking façade, has been designed to raise the bar for luxury residential living in Australia."
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The FV Private Club is estimated to have cost more than $20 million.
Designed by Elenberg Fraser, FV is set to play a pivotal role in the urban renewal of Fortitude Valley and in total across all three buildings, will deliver over 3,600sqm of luxury retail, 4,300sqm of resident amenity within the FV Private Club and 981 residential apartments over three architecturally distinct buildings.
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The first two buildings, Flatiron and Valley House, include 1860sqm of premium retail space and over 2,500sqm of luxury communal amenity, including four pools - one of which stretches 65m around the nose of flatiron in a unique ‘U’ shape - a moonlight cinema, three VIP spa and dining areas, a commercial-sized Life Fitness gym and yoga studio, additional private dining spaces and resort-style sun decks, among other substantial amenity.
Construction first commenced in April 2015 with Brookfield Multiplex (now Multiplex) awarded what was at the time considered one of Brisbane’s largest construction contract, rumoured to be in the vicinity of $150 million to $160 million.
Construction across the first two stages has generated 550 immediate jobs and a further 2,000 jobs off-site.
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GURNER signed Winning Appliances as the key anchor tenant, with the retailer moving from their existing Brunswick Street showroom into the brand new custom-designed 1770sqm showroom housed in the dramatic apex of the triangular Flatiron building earlier this year.
GURNER also recently celebrated signing Mantra Group’s high-end Peppers brand as the sole management rights operator for the project in what represents the largest off-the-plan management rights deal in Australia to-date.
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FV will be operated as FV Peppers Residences, a long-term apartment leasing and management facility that will offer tenants unparalleled resort-style amenity and services.
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Gurner said Brisbane remained a strong component of the developer’s portfolio and rebuffed claims that the local market was oversupplied.
“With so much pressure on house prices in Australia, Brisbane provides an incredibly affordable option for first home buyers and owners.
"With Brisbane now sitting around 50% more affordable than Melbourne and 60-70% than Sydney it is now something people just cannot ignore. 
"With incredible weather, jobs and a real future Brisbane is now coming to fruition.
“People have been saying the Brisbane market is oversupplied for years, however for us to be able to sell all 981 apartments and deliver this project and now look to release a number of these apartments into the rental pool to a registration list that is already oversubscribed, all evidence points to the market being in very good shape as people look to upgrade from older, inferior apartments.
“FV is just the first of many projects we will deliver in Brisbane over the next five to 10 years so we look forward to playing an important role in the transformation of Brisbane’s skyline with quality, design-led, landmark buildings that will form part of the city’s design narrative for years to come,” Gurner said. 
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Flatiron and Valley House are now complete with residents poised to start moving into their new homes from early next month.
The project’s third and final tower, ‘No.1’, is also under construction via builder ICON and is likely to reach completion by mid-2019.
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GURNER unveils $600 million FV Brisbane apartment development

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Downsizers beat two other bidders to win the weekend auction offering of a factory conversion at Abbotsford.
The 1/50 Valiant St property sold for $1.525 million.
Jellis Craig Northcote auctioneer Sam Rigopoulos said the price was "well above" his vendor’s bottom line of about $1.25 million.
Formerly an electrical goods factory, the grandly proportioned residence offered zoned living spaces.
It was close to the Convent Arts precinct and close to Studley Park and transport.
With an expansive upper-level living/dining room with CBD and eastern views, the home comprised four bedrooms and 2 bathrooms (one with laundry). 
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Downsizers buy Abbotsford factory conversion

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A Webb Street Fitzroy property has sold for $6.6 million at Teska Carson auction.
A Melbourne developer is looking for approval for a multi-storey project at 93-97 Webb Street.
The property is on a 989 square metre site, zoned Commercial 1, has frontages of 23 metres to Webb Street, 13 metres to Charles Street and a third access via a right of way on the eastern boundary.
The property, includes a 900 square metre brick warehouse and office and was sold subject to a short term lease-back, expiring February 2018, at a rental of $150,000 per annum plus GST.
According to marketing agents, Teska Carson’s Tom Maule and Matthew Feld, who sold the property in conjunction with Nelson Alexander’s Peter Smyth and Simon Verduci, the auction drew a large crowd with five bidders vying for the development opportunity.
Tom Maule said the boutique apartment market has very much matured in recent times with the emphasis now on satisfying a growing owner-occupier predilection for quality two and three bedroom apartments within relatively close proximity of their existing homes.
"This allows downsizers, in particular, to take advantage of a potentially financially attractive move, including off-the-plan stamp duty savings, to a familiar area, and often closer to essential amenities such as shopping and transport,’’ he said. 
Mr Feld said developers were now also providing prospective apartment purchasers with the opportunity to influence the layout and design of apartments.
"These are apartments that are purchased by people who will actually live in them and, for most of those people, over a long period of time, and so it stands to reason that they wish to influence the end product as much as is possible and that may even extend to landscaping and external finishes,’’ he said. 
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Webb Street Fitzroy property sold for $6.6 million

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Data released by SQM Research has revealed the number of national residential vacancies was 75,733 homes in July 2017, giving a national vacancy rate of 2.3 percent, down from 2.4 percent in June.
The vacancy rate remained very tight at 0.5 percent in Hobart, down from 0.7 percent a month earlier, while it was slightly lower in Sydney at 2.0 percent, down from 2.1 percent.
Vacancies were steady in Melbourne at 1.7 percent, but are down from 2.1 percent a year earlier.
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Managing Director of SQM Research, Louis Christopher, said while vacancy rates had remained largely steady in Melbourne and Sydney, the numbers reflected still tight rental markets in those cities, where high costs mean many people are spending 30% or more of their income on rents.
“Our data shows that asking rents in Melbourne for house and units are up 4.6% and 5%, respectively, over the year to August 12, well above the inflation rate. 
"Excessive population growth is driving rents higher in that city, as well as house prices.
“On this front, I agree with Dick Smith and other economists on proposed immigration cuts.
"The surge in population is the primary reason why the RBA’s warnings last year and earlier this year of an oversupply in Sydney and Melbourne have not materialised.
“I suspect surging population growth is also the reason why APRA’s actions in 2015 to slow the investor market place in order to take the heat out of the Sydney and Melbourne market only worked temporarily.
"If we do not address this issue in the manner  required, it is unlikely housing affordability is going to materially improve from this point.
"Indeed, affordability could further deteriorate in the form of higher rents and higher house prices with the only other remedy being aggressive interest rates rise from the RBA,” Mr Christopher said.
“Meanwhile, Hobart is now experiencing very tight conditions.
"Vacancies are just 0.5% and market rents have effectively risen by over 10% in the last 12 months.
Unfortunately, few developers will build in Hobart due to the high transportation costs of moving materials across from the mainland plus the historical risks attached to the local economy,” Christopher said.
Asking Rents
While asking rental growth for houses has moderated slightly, the asking weekly rent for a three-bedroom house in Sydney sits at a high $729, leading all other cities.
For units, it sits at $520. Over the year to August 12, asking rents for houses in Melbourne rose 4.6%to $508 while for units, asking rents sit at $399.
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National vacancy rates decline during July period: SQM

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A turn-of-the-century Spring Hill house has sold for $1.1 million.
Located at <a href="https://www.realestate.com.au/sold/property-house-qld-spring+hill-125549698" target="_blank">20 Gloucester Street</a>, the 205 sqm property was built in 1880, one of the areas’ most desirable properties.
It last sold in 2011 for $1.05 million.
Renovation of the building was conducted several years ago.
It features three bedrooms and a bathroom on the ground level.
A living area, kitchenette and built-in laundry are also available on this level.
The area can also be closed off and accessed via a side entry making it ideal for a home business.
The rear of the property features timber decking along with a storage shed and astro turf area for pets.
Upstairs is the kitchen with French Industrial design such as an antique mirrored wall, granite benchtops and butler’s pantry.
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A living area combines the dining and powder room with views of the city.
The master bedroom is also on this level and runs across the front of the house and it has its own ensuite, separate walk-in robes and views of the city and surrounding landscape.
Other features includes two residents’ car parks along with two four hour visitors parking.
The property is a kilometre from the CBD and is within walking distance to restaurants and cafes.
The property was offered through Place agent Jody Green.
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Turn-of-the-century Spring Hill house sold for $1.1 million

One of Brisbane's last major riverfront redevelopment opportunities has taken a significant step forward, with Lendlease selected as the Queensland Government's preferred development partner for the former Visy site in South Brisbane.

The seven-hectare industrial site, positioned between South Bank and West End and 1.3 kilometres from the Brisbane CBD, will be transformed into a mixed-use precinct expected to deliver more than 4,000 new homes alongside extensive public open space and riverfront parkland.

The project is one of the largest urban renewal opportunities currently planned in Brisbane and is expected to play a key role in accommodating the city's growing population ahead of the 2032 Olympic and Paralympic Games.

Plans for the precinct include a network of riverfront promenades and boardwalks, new public plazas, parkland, amphitheatre-style gathering spaces and shared pedestrian and cycling links designed to reconnect the long-isolated site with the Brisbane River.

The Queensland Government is targeting delivery of the first homes and key public spaces before the 2032 Games, allowing the precinct to begin contributing new housing and public amenity well before the broader masterplan is complete.

The redevelopment is also expected to support more than 3,000 jobs across planning, construction and ongoing operations.

For Lendlease, the appointment adds another major urban regeneration project to its Queensland portfolio. The developer has operated in the state for more than 70 years and has delivered a number of large-scale mixed-use precincts in partnership with government.

Lendlease Development CEO Claire Johnston said the project represented one of Brisbane's most significant redevelopment opportunities.

"The transformation of the former Visy site represents a rare opportunity to reimagine one of Brisbane's most significant riverfront locations, deliver thousands of much-needed homes, and create long-term legacy," Johnston said.

"In partnership with the Queensland Government, we have the opportunity to create a new riverside destination that will help shape Brisbane's growth and how people experience the city for decades to come.

"This is exactly the type of large-scale, city-shaping development that will provide lasting benefits for Queensland, bringing together housing, jobs and world-class public spaces."

Deputy Premier and Minister for State Development, Infrastructure and Planning Jarrod Bleijie said the riverfront transformation would deliver a thriving new community precinct.

“The Crisafulli Government is delivering this golden opportunity to unlock a riverfront jewel for all Queenslanders,” Deputy Premier Bleijie said.

“This is a once-in-a-generation moment to reshape a significant slice of Brisbane and deliver lasting benefits – thousands of new homes, and public spaces for all Queenslanders to enjoy well beyond the 2032 Olympic and Paralympic Games – unlike Labor’s plan which would have delivered zero benefits and zero new homes.

“Queensland is well and truly open for business and through partnership with the private sector, we are accelerating delivery while ensuring strong housing, community and economic outcomes."

Early works on the precinct are expected to commence in April 2027.

Joel Robinson

Lendlease selected to deliver transformative South Brisbane riverfront precinct

Eddy Haddad's <a href="https://www.apartments.com.au/developers/level-33">Level 33</a> is levelling up its approved Wollongong development, as the coastal city south of Sydney continues to prove popular in the high-density development space.

Level 33, a longtime developer in the Wollongong area, has gone through the NSW Government's Housing Delivery Authority to upsize its approved two-tower development on the corner of Crown Street and Gladstone Avenue, just 100 metres from Wollongong Station.

The developer currently has approval for 252 apartments across two buildings rising to 19 storeys. It is now seeking approval for 33 and 38-storey towers that would deliver 467 apartments, including 67 affordable homes.

Designed by <a href="https://www.apartments.com.au/architects/bka-architecture">BKA Architecture</a>, the development would comprise apartments above a three-level podium with around 1,100 sqm of retail space, along with basement parking for 448 vehicles.

According to the Urban Design Report by BKA, the proposal has the capacity to "reinforce the precinct's identity by strengthening links between health, education, and transport services, while also contributing to Wollongong's ongoing evolution as a key regional centre."

Wollongong is somewhat in vogue. Between Level 33 and Urban Property Group, the two developers have several thousand apartments planned across the city.

Level 33 is currently delivering Easterly Wollongong, one of its most boutique projects to date with just 21 high-end apartments, as well as Atchison &amp; Kenny, a 329-apartment development due for completion later this year.

The developer plans to redevelop the 13,088 sqm WIN Grand megasite into <a href="https://www.apartments.com.au/new-apartments/crown-square-216-238-keira-street-wollongong-nsw-2500">Crown Square</a>, a new $500 million precinct with nearly 600 apartments. It also has more than 900 apartments planned for the former Bunnings Warehouse site at the intersection of Gipps and Flinders streets.

Urban Property Group is also playing a major role in the city's transformation. Its five-tower Keira Place precinct will deliver more than 800 homes, and it has recently lodged plans for a further 300 apartments near Wollongong Station.

First look: Level 33 upsizes Wollongong apartment towers

Just a week after filing plans for the final stage of its major Keira Place masterplan, <a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has unveiled another significant housing proposal in Wollongong, this time targeting a prominent site opposite North Wollongong Station.

The developer has lodged a State Significant Development Application for a 38-storey mixed-use tower at <a href="https://www.apartments.com.au/new-apartments/4-4a-flinders-street-north-wollongong-nsw-2500">4-4A Flinders Street</a>, around one kilometre north of the <a href="https://www.apartments.com.au/new-apartments/keira-place-wollongong-120-122-smith-street-wollongong-nsw-2500">Keira Place precinct</a> currently taking shape on the edge of the CBD.

<img alt="First look: Urban Property Group plans 38-storey North Wollongong tower as Keira Place expansion gathers pace" data-entity-type="file" data-entity-uuid="2b6428f1-6405-4038-8476-897de440e90d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/flinders%20podium.png?VersionId=QLqEvK0OuCEwRC47oHNftrw2B1YqaHF8" />

Designed by Studio.SC, the proposal comprises a 38-storey mixed-use development containing 303 apartments, including 45 affordable housing units, alongside 174 co-living residences. The scheme also includes ground-floor retail space, extensive landscaping and public domain improvements.

Studio.SC noted in the proposal it "outlines a vision for a landmark transit-oriented mixed-use development centred around North Wollongong Station, designed to support the city’s future growth while responding to the NSW Government’s housing and planning reforms."

The architecture firm said the proposal responds to the opportunities and constraints shaping future growth within the 400-metre catchment of the station and represents "a coordinated and future-focused approach to urban intensification, contributing to the long-term evolution of North Wollongong as a connected, walkable and high-density station precinct."

The site occupies a strategic corner bounded by Flinders Street, Station Street, Stafford Street and the Princes Highway, directly opposite North Wollongong Station.

<img alt="First look: Urban Property Group plans 38-storey North Wollongong tower as Keira Place expansion gathers pace" data-entity-type="file" data-entity-uuid="7863adad-1f71-4022-b850-f44b252738fd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/flinders%20podium%20a.png?VersionId=WsU7av0g8_8R2tGHWxgHeFSlhu7yeY1V" />

The proposal follows Urban Property Group's recent submission for the second and final stage of Keira Place, which would deliver a further three buildings comprising 657 homes opposite Beaton Park. It builds on the first stage, which features 150 apartments across two towers and recently commenced construction.

Urban Property Group CEO Patrick Elias said breaking ground on the first stage marked a significant milestone for Wollongong and reflected the developer's long-term commitment to regional cities.

"Today's groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong's city centre," Elias said.

"Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection."

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/urban-property-group-unveils-trio-of-towers-for-next-stage-of-new-wollongong-precinct-keira-place">Urban Property Group unveils trio of towers for next stage of new Wollongong precinct, Keira Place</a>

First look: Urban Property Group plans next major Wollongong tower

<a href="https://www.apartments.com.au/developers/arada">Arada Australia</a> has wasted little time expanding its ambitions in Campsie, lodging plans for a second major project in the rapidly transforming town centre just months after unveiling its three-tower One Campsie proposal on Beamish Street.

The UAE-backed developer has now taken aim at one of the suburb’s most strategically positioned sites, filing a State Significant Development Application for a <a href="https://www.apartments.com.au/new-apartments/10-north-parade-campsie-nsw-2194">33-storey mixed-use tower</a> at 10 London Street and 43 North Parade, directly opposite the future Campsie Metro Station. The proposal is currently on public exhibition and represents another significant vote of confidence in Campsie's emergence as one of Sydney’s key transit-oriented growth centres.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the development would deliver 156 apartments above a podium containing retail and commercial space, creating a new residential and commercial gateway to the town centre. The scheme also includes a four-level above-ground parking podium and a dedicated residential amenity floor featuring wellness and recreation facilities. At least 10 per cent of the apartments would be allocated as affordable housing for a period of 10 years.

The proposal occupies a 1,631 sqm site bounded by London Street, North Parade and Dispensary Lane, immediately adjoining the future Metro station precinct and just metres from Beamish Street’s retail and dining strip. According to the Urban Design Report, the project seeks to deliver "a great place that prioritises human-scaled experience and provides spatial improvements to the area."

<img alt="First look: Arada doubles down in Campsie with 33-storey Metro-front tower plans" data-entity-type="file" data-entity-uuid="175a8324-015b-4856-abe3-ce6f23199fa7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium%20campsie.png?VersionId=742UGwXFhFBX4GEl6wX4PYIWREAgn6il" />

Woods Bagot describes the tower as a key marker within Campsie's next phase of growth.

"Located directly opposite the new Campsie Metro Station on North Parade, 10 London Street is a thoughtfully composed 33-storey mixed-use tower that contributes to the ongoing transformation of the town centre," the Architectural Design Report states. The report says the project is intended to provide "high-quality homes within a vibrant, connected urban environment, while helping define Campsie's future skyline."

A strong emphasis has been placed on the public realm. The ground floor incorporates over 500 sqm of retail space and active frontages along both London Street and North Parade, while the podium is wrapped by extensive landscaped planting intended to soften the building's scale and strengthen the pedestrian experience. The development would also widen surrounding footpaths and improve connections between the Metro station and the broader town centre.

Above the podium, residents would have access to more than 1,400 sqm of communal amenities, including a pool, gym and landscaped recreation spaces. A distinctive green-wall treatment extending across four podium levels forms a major architectural feature, helping differentiate the project within the emerging high-density precinct.

The tower's design is closely tied to the broader Campsie Town Centre Master Plan and the arrival of Sydney Metro. The Urban Design Report notes the proposal "directly supports the Campsie Town Centre Master Plan by delivering new homes in a location explicitly identified for growth, improved accessibility, and high-quality urban renewal." It adds that the project contributes to the master plan's vision for a strengthened town centre supported by thousands of new homes around the future Metro station.

<img alt="First look: Arada doubles down in Campsie with 33-storey Metro-front tower plans" data-entity-type="file" data-entity-uuid="bfd17654-253e-489a-bade-6278d63db412" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/base%20campsie.png?VersionId=3roJPMQGs36dazpkhvpvbDDP73Ld.Ica" />

The application follows Arada Australia's recently lodged One Campsie project at 124–142 Beamish Street and 16–18 Ninth Avenue, where the developer is seeking approval for 346 apartments across three towers rising 24, 32 and 39 storeys. Together, the two proposals would cement Arada Australia as one of the most influential developers shaping Campsie's future urban form.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-arada-files-for-trio-of-apartment-towers-in-campsie-town-centre">First Look: Arada Australia files for trio of apartment towers in Campsie town centre</a>

Arada Australia entered the Australian market in 2024 and has rapidly assembled a significant development pipeline across Sydney. Alongside its Campsie holdings, the developer is soon to launch <a href="https://www.apartments.com.au/new-apartments/wattle-green-2-fishburn-crescent-castle-hill-nsw-2154">Wattle Green</a> in Castle Hill, and has expanded its local operations following its acquisition of construction firm Roberts &amp; Co.

Located around 14 kilometres south-west of the Sydney CBD, the site sits at the centre of one of Sydney's fastest-changing middle-ring precincts. The Metro conversion of Campsie Station, combined with Canterbury-Bankstown Council's master planning framework, is driving significant residential intensification around Beamish Street and North Parade, with thousands of new homes expected over coming decades.

First look: Arada Australia doubles down in Campsie with 33-storey Metro-front tower plans

For the first time in a long time, Australia's inflation story is starting to look more like a landing than a fight.

The latest Consumer Price Index figures from the Australian Bureau of Statistics showed annual inflation eased to four per cent in May, down from 4.2 per cent in April. On the surface, that might not seem like a major move. Inflation remains above the Reserve Bank's target range and some categories continue to record stubborn price growth.

But the significance of this result lies less in where inflation sits today and more in what it means for where interest rates are likely heading next.

The biggest takeaway is that inflation continues to move in the right direction.

Markets had been bracing for another sticky result after a period where progress appeared to stall. Instead, headline inflation came in softer than expected, helped by falling fuel prices and easing transport costs. Annual transport inflation halved from 6.6 per cent in April to 3.3 per cent in May, while automotive fuel prices fell 11.9 per cent during the month following lower oil prices and the impact of reduced fuel excise measures.

While petrol prices don't solve Australia's affordability challenges, they are one of the most visible and immediate costs for consumers. Falling fuel costs feed through the economy quickly, helping ease pressure on household budgets and business operating expenses.

The ABS data also showed headline inflation is now sitting at its lowest annual level in several months, reinforcing the broader trend that price growth is gradually moderating.

That trend is important because it aligns with what many economists and lenders have been saying for the last month.

Prior to this week's inflation data, ANZ, NAB and Commonwealth Bank had all shifted their forecasts, now believing the Reserve Bank had likely reached the peak of the interest rate cycle. Following the May inflation release, ANZ reaffirmed that view.

In its latest economic update, ANZ said it expects quarterly trimmed mean inflation to come in at 3.7 per cent for the June quarter, slightly below the Reserve Bank's forecast of 3.8 per cent. Importantly, the bank said that outcome, when combined with slowing economic activity, "supports our view that the cash rate has peaked".

The Reserve Bank has spent the better part of three years attempting to bring inflation under control through higher interest rates. If Australia's major banks are correct and rates have now peaked, the conversation shifts from how much higher rates could go to when they might begin coming down.

Westpac's caution comes from underlying inflation. The trimmed mean, the measure most closely watched by the Reserve Bank, increased from 3.4 per cent to 3.6 per cent annually. Housing inflation remains elevated at 6.5 per cent, reflecting ongoing increases in rents, electricity costs and new dwelling construction.

Electricity prices remain particularly problematic, rising 21.1 per cent over the past year following the removal of government rebates.

Housing construction costs are also showing signs of renewed pressure. ANZ noted new dwelling costs rose 0.9 per cent in May and are now running at an annualised pace of 8.6 per cent over the past three months. Builders continue to face higher labour, fuel and material costs, a reminder that inflationary pressures have not completely disappeared.

Housing affordability has deteriorated largely because of higher interest rates rather than higher property prices alone. Even modest reductions in mortgage rates would improve borrowing capacity, increase buyer confidence and reduce repayment pressure on existing homeowners.

While August is far from a certainty, the latest inflation result has strengthened the view that the next move in rates is more likely to be down than up. For borrowers, buyers and the development sector, that alone represents a significant shift from the conversation that dominated much of the past two years.

Staff reporter

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