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Vacancy rates edged higher across most capital cities in April but still reflect a tight rental markets across Australia, according to data released by SQM Research.
The number of national residential vacancies rose to 76,959 rental homes, giving an overall vacancy rate of 2.4 percent, up modestly from 2.3 percent in March 2017.
In Melbourne and Sydney, vacancy rates sat at 1.6 percent and 1.8 percent, respectively, a slight retracement from March’s low levels.
Canberra edged off a five-year low with a rise from 0.8 percent to 1.0 percent, while the highest vacancy rate remained Perth with a jump to 4.9 percent. The vacancy rate only fell in Darwin to 3.4 percent while Hobart claimed the lowest rate at 0.6 percent.
“While the rise in vacancy rates may give tenants a slight reprieve, the trend is still up for asking rents in Sydney and Melbourne, to the point where they are unaffordable for many people,” commented Louis Christopher, managing director of SQM Research.
We are nowhere near to seeing any signs of an oversupply of units in either inner-city unit market,” Christopher said.
Asking rents
Despite a higher vacancy rate, asking rents edged higher in Melbourne over the month to May 12, up by 0.3 percent for units and 0.2 percent for houses, giving annual price rises of 4.7 percent and 6.4 percent, respectively. 
In Canberra too, growth in asking rents is high, at an annual pace of 9.3 percent for houses and 6.0 percent for units.
Annually, asking rents for houses has moderated in Sydney to 2.9 percent for houses and 3.2 percent for units, with asking rents for houses down by 0.6 percent over the month.
However, the asking rent for a three-bedroom house in Sydney now sits at a lofty $743 while for units it sits at $521, an unaffordable level for many of the city’s inhabitants on lower incomes.
In contrast, Darwin asking rents continued to fall, down 3.4 percent for houses over the month, while unit rents were down 1.1 percent. Perth has again posted the largest yearly declines, with unit asking rents down 9.4 percent and house rents down 7.5 percent.
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j.ballantyne1990-6AQqhLzZaK

National vacancy rates rise modestly in April

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Investors and developers looking to capitalise on Sydney's residential boom are now turning to townhouses as the product of choice.
The trend has emerged amid the state government's push to develop the 'missing middle' of NSW's housing sector. 
According to CBRE Metropolitan Investment team manager Xavier Rahme, investor demand had shifted over the past nine months from apartment development sites to those that could accommodate townhouse projects.
“Sydney's housing sector is significantly undersupplied in the middle market, which is driving investors and developers to secure parcels that can capitalise on this untapped area of the market,” Rahme explained.
“The NSW Government's recently launched Missing Middle Design Competition highlights the emphasis on this important sector of the market – with a shift away from apartments to medium density development,” he said.
Rahme cited the recent slowdown in growth of the residential unit market as the reason developer interest has spiked in townhouse development opportunities.
“Interest remains strong in apartment sites in blue-chip locations within 10-15km of the Sydney CBD and close proximity to train stations,” he said.
CBRE has transacted more than $48 million across five recent property sales throughout metropolitan Sydney, highlighting the increased demand for developable townhouse stock.
In Lindfield, a 2,719 sqm property at <a href="https://www.realestate.com.au/project/the-grove-lindfield-600015534" target="_blank">18-20 Bent Street</a> sold for $13 million. The property, which was purchased by a foreign buyer, has development approval for 16 townhouses.
A 1,006 sqm property at <a href="https://www.realcommercial.com.au/property-land+development-nsw-burwood-501862494" target="_blank">66-70 Stanley Street</a> in Burwood with development approval for 10 townhouses recently sold for $6 million, while in Turramurra a site earmarked for 15 townhouses sold for $8.05 million.
Other recent transactions include an undisclosed sale of a 10,005 sqm parcel at <a href="https://www.realestate.com.au/property/21-new-north-rocks-rd-north-rocks-nsw-2151" target="_blank">221 North Rocks Road</a> in North Rocks. The property has development approval for 50 houses.
“These recent townhouse development site sales demonstrate the strength in demand from developers for this type of stock, which is driven by the vigorous demand for 'missing middle' housing across Sydney,” Rahme added.
“Market feedback has indicated that banks and financial institutions are more enticed to lend on lower risk assets including townhouse developments, where pre-sales rates are particularly buoyant.”
 
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CBRE says townhouse site sales lift as focus shifts to Sydney's middle market

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One of Byron Bay’s largest residential subdivisions has achieved record prices.
Around two thirds have been sold as the final stage hits the market.
Developed by Unison Projects, Seacliffs Byron Bay is a rainforest fringed enclave.
Some 73 per cent of the estate is maintained as a nature reserve and a wildlife corridor for native animals.
The $20 million Seacliffs Byron Bay development features 34 elevated lots within a 16 hectare eco-friendly hinterland estate.
Some come with ocean views.
Unison Projects founder Jonathan Levy remarked that stage one of 11 completed lots on Hayters Drive, Suffolk Park, sold out quickly.
He added one had since achieved a record house price for the suburb.
Additionally, seven of the second stage of eight lots have been sold, with five of the 16 lots in the third and final stage also already traded.
“The response to Seacliffs has been fantastic particularly from the local market as most of our buyers were already living in the Byron Bay region,” Levy said.
“The project has proven that Byron buyers are back.”
McGrath agent Nick Dunn added that stage three home lot sites range from 616 sqm to 1156 sqm.
The prices are between $600,000 and $660,000, set just a few minutes to Tallow Beach and the Suffolk Park shops, and only eight minutes to the heart of Byron Bay.
“Seacliffs is where the hinterland meets the sea,” Levy said.
 
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Final stage of Byron Bay development Seacliffs hits market

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A luxurious 10th-floor penthouse designed by Fender Katsalidis in Richmond, Victoria has been listed for sale, with a price guide of $4.7 million to $5.1 million.
The residence at <a href="https://www.realestate.com.au/property-apartment-vic-richmond-125199822" target="_blank">1004/1 Dyer Street</a> represents the final apartment for sale within Riverlee Group development, Jaques.
Located in the heart of Richmond, the building is within walking distance to cafes, restaurants, boutiques and transport. The median sales price for houses in Richmond is $1.22 million.
The three bedroom apartment showcases 270 degree views, and is fitted with ensuites, an entertainer's kitchen with European appliances, open-plan living areas and a bar. 
Other highlights include 17.5 sqm of night-lit terraces designed for al fresco entertaining, a rooftop deck, home-office, wine-room, gym and resident's lounge.
Designer touches such as auto-blinds, marble, Corian and Oak finishes, powder room, cloak room, high ceilings and marble laundry are scattered throughout.
Kay &amp; Burton agent Daniel Bradd was taking expressions of interest until 5pm yesterday.
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Luxury Richmond penthouse listed

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A tranquil three bedroom beachside cottage in Byron Bay suburb Suffolk Park has been listed for sale, with a price guide of $1.45 million.
The 581 sqm residence at <a href="https://www.realestate.com.au/property-house-nsw-suffolk+park-124368558" target="_blank">10 Glasgow Street</a> backs onto a nature reserve and is surrounded by tropical gardens. The home is positioned only 600 metres to Tallow Beach, and only 150 metres from shops and restaurants.
Suffolk Park is a popular destination for holidaymakers, and is located five kilometres south of Byron Bay. The area attracts a median house price of $987,000.
The renovated and luxurious property offers a modern kitchen, open plan living and dining areas, and two well appointed bathrooms.
Its exterior features an outdoor terrace, 7 metre in-ground pool, separate extra bedroom, and a single carport.
A four bedroom home at <a href="https://www.realestate.com.au/sold/property-house-nsw-suffolk+park-125142286" target="_blank">68 Brandon Street</a> traded for $1.8 million in May 2017.
A two bedroom unit at <a href="https://www.realestate.com.au/sold/property-unit-nsw-suffolk+park-124752362" target="_blank">4/55 Brandon Street</a> was also sold for $860,000 in May 2017.
The property is offered through Byron Bay Property Sales.
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Suffolk Park beachside cottage listed

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There are no suburbs that are at the peak of the market for the office market, according to Herron Todd White’s latest report.
The property valuation firm says that this shows that there has been no change in the office market since last month.
<a href="https://www.propertyobserver.com.au/images/2017/05/03/Screen%20Shot%202017-05-03%20at%201.20.28%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/05/03/Screen%20Shot%202017-05-03%20at%201.20.28%20pm.jpg" alt="">
Melbourne and Coffs Harbour continues to be approaching the peak of its market with Adelaide, Darwin, South East NSW, Townsville and Wide Bay at the bottom of the market.
Meanwhile Alice Springs, Gippsland, Newcastle and Toowoomba’s office market is starting to decline.
Last month Property Observer reported on the office market and that several suburbs are on the way to the top.
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No changes in office property market clock: May HTW clock

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A retail property in Carnegie, Melbourne, has sold for $3.35 million.
The 66 Koornang Road property comprises a land area of 212 square metres and a building area of 150 square metres is leased to a Vietnamese restaurant trading as Pho 66.
The lease returns $84,872 per annum plus outgoings and GST and the sale reflected a yield of 2.53 percent.
Fitzroys agents Chris Kombi and Chris James said the sale reflected a land rate of $15,800 per square metre.
Kombi said the property attracted more than 150 buyer enquiries and had seven bidders at auction.
"The property is located just metres from the new Carnegie Railway Station currently under construction, which is part of the state government's $5 billion level crossing removal initiative and due for completion in 2017,” Kombi said.
"The property’s future value is underpinned by a rapidly growing residential catchment with a major transformation currently underway within the Koornang Road Activity Centre with a number of high rise residential developments completed nearby and approximately 15 others in various stages of planning and development."
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Fierce bidding for Carnegie Vietnamese restaurant

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A 7-Eleven in Melbourne’s Heathmont is up for grabs at auction on May 18 through Colliers with expectations of more than $2.5million.
The convenience store on the corner of Canterbury Road and Campbell Street is fully leased to the 7-Eleven franchise on a 10-year term until July 2021, with one five-year option to renew.
The 1,091 sqm property makes a rental income of about $115,755.30 per annum, with an annual increase of three per cent.
He said she had already received strong interest from Melbourne-based investors wanting to shift their focus to commercial assets.
The listing agents are Colliers International’s Jeremy Gruzewski, Dorothy He and Ben Baines. 
“The retail property market in Melbourne’s outer-eastern suburbs has traditionally been viewed as a natural fit for many local investors, who look for secure and consistent investment returns,” said Dorothy He.
“With historically low interest rates and a lack of attractive alternate options, yield-chasers are still looking favourably into commercial properties that deliver stable income streams.”
Developers had also expressed interest in the property, with the initial intention to landbank and the long-term view to redevelop.
“Its general residential zoning is being proposed for change into mixed-use zoning under the Heathmont Neighbourhood Activity Centre Structure Plan, which is expected to open up wider possibilities,” she said.
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7-Eleven in Melbourne's Heathmont goes to auction

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Sam Arnaout has emerged as the buyer of the iconic vineyard and winery Dalwood Estate near Branxton.
The boss of Iris Capital paid $3 million plus for the 104 hectare property that fronts the Hunter River.
Established in the 1800s, the property with sandstone winery buildings and a concert amphitheatre is accredited as among the Hunter Valley's oldest wineries.
It was the site of some of the first vines planted in the colony by George Wyndham who also built the now heritage listed Dalwood House.
Pernod Ricard closed the tourism facilities known as Wyndham Estate in October 2014, citing commercial reasons for their decision.
Another purchase last year came when Arnaout bought the prized Sweetwater estate at Pokolbin. It's wines are now served at the Fountain Cafe.
The 48 hectare Pokolbin property came with initial hopes of $30 million, but $12 million was its last price guidance.
It produces Cabernet Sauvignon and Shiraz on 16 hectares. 
Arnaout bought the Kirby family Hungerford Hill boutique winery for $4.4 million.
He also owns 1.66 hectares of prime real estate in Newcastle's Hunter Street mall.
Arnaout, who entered the hotel industry in 1995, has a whole-floor penthouse in the Bennelong apartment complex which was bought from Margaret Maloney, the widow of the hotelier Cyril Maloney for $18 million in 2015.
Iris Capital owns expanded site, The Bourbon in Potts Point. 
The king of the emerging Kings Cross residential rejuvenation, has been quietly amassing a huge building site at Kings Cross's northern end around his Bourbon Hotel premises.
His Kings Cross purchases now total $66 million.
This article first appeared in the Sunday Telegraph.
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Sam Arnaout revealed as Dalwood Estate winery buyer

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A two-storey building adjoining North Brighton Train Station has sold under the hammer for $2,255,000.
The 206 square metre site comprises a ground floor café and first floor office accommodation.
The property is zoned commercial 1 and sold on a sharp 3.3 percent yield with a new lease to the café Too Many Chiefs, with other tenancies consisting of first floor offices, and external signage.
The site has a frontage of greater than 50 metres to North Brighton Train Station, and a public car park at rear.
Fitzroys division director Mark Talbot said that the sale set a Bay Street, Brighton record for a single-front property on Bay Street.
Talbot said there was fierce competition amongst three bidders who were keen to capitalise on the property’s positioning on the Brighton shopping strip.
“The precinct is surrounded by an established residential community that is slated for further population growth, and has a number of top-class education facilities nearby,” he said.
Talbot said the vendor was Realgrade Pty Ltd, with the buyer a local investor.
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Bay Street, Brighton cafe sells under the hammer

A trio of Queensland property groups have unveiled plans for a $300 million mixed-use redevelopment of the former Noosa Bowls Club site, a proposal that would deliver more than 200 new homes in one of the Sunshine Coast's most supply-constrained markets.

Kilter Property, Frank Developments and Calile Malouf Investments are behind the plans for the 1.8-hectare site at <a href="https://www.apartments.com.au/new-apartments/99-noosa-drive-noosa-heads-qld-4567">99 Noosa Drive</a>, which would transform the long-vacant site into a new residential precinct featuring 208 apartments, retail, hospitality and public space.

The proposal comes as Noosa continues to grapple with housing affordability and a shortage of permanent accommodation, particularly for key workers. The site's location in Noosa Junction, close to shops, public transport and employment, aligns with the direction of Noosa Council's Housing Strategy, which encourages higher-density housing within established activity centres rather than continued urban expansion.

The draft plans include 48 affordable-by-design apartments and 48 rooming accommodation units aimed at key workers. Around 2,000 sqm of ground-floor retail and food and beverage space would activate the street frontage, alongside a new public town square and landscaped open space.

<img alt="Noosa" data-entity-type="file" data-entity-uuid="2dd02f53-1360-4e51-801e-bfd61a6c980e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-26%20at%208.44.34%E2%80%AFPM.png?VersionId=x1iNs3BSMN6Jy7YUwaBZMHRrrKX2hMpy" />

&nbsp;

Frank Developments Founder and Director Frank Licastro said the development would continue the company's focus on architecturally-led residential projects while addressing one of the region's biggest challenges.

"Not only will this project exude a sense of luxury, it will also enhance not only the built environment but also the surrounding community," Licastro said.

"Noosa's success relies on the people who live and work here. Providing well-designed accommodation for key workers is critical to supporting the local economy and ensuring the Shire can continue to thrive."

Kilter Property Co-Founder Huw Williams said the focus was on delivering additional permanent housing while creating a mixed-use destination that benefits both residents and the wider community.

"Our focus is on delivering a well-considered mixed-use project that provides more permanent housing options, supports local workers and businesses, and delivers an exceptional product for the local market," Williams said.

"The redevelopment vision aligns with the long-term evolution of Noosa Junction as a vibrant activity centre, creating a destination that enhances the area's character while delivering significant economic and community benefits."

Calile Malouf Investments, best known for its role in Brisbane's James Street precinct and The Calile Hotel, will bring its place-making experience to the project. The company recently commenced construction on The Calile Noosa hotel and says the residential development will complement its growing investment in the region.

CMI Director Cal Malouf said the aim was to create a walkable precinct combining housing, retail and hospitality while remaining true to Noosa's character.

"We see a similar opportunity in Noosa to deliver a vibrant, walkable destination that combines exceptional housing, hospitality and retail in one integrated project," Malouf said.

Brisbane-based Cavill Architects has been appointed to design the project.

Joel Robinson

Noosa Bowls Club to be redeveloped into mixed-use apartment precinct

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.

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.

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