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Online retailing is set to increase resulting in retail sales facing difficulties, according to Mirvac’s latest report.
While retail sales are facing headwinds from lower wages growth and an increase in online retailing, quality urban-based centres with an attractive tenancy mix are expected to continue to perform well.
New South Wales continues to record above trend levels of economic growth, with a large infrastructure investment pipeline, low interest rates and a lower currency supporting a positive outlook.
With a 64 per cent exposure to Sydney, Mirvac is positioned well in this environment.
<a href="https://www.propertyobserver.com.au/images/2017/04/27/Screen%20Shot%202017-04-27%20at%2011.40.40%20am.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/2017/04/27/Screen%20Shot%202017-04-27%20at%2011.40.40%20am.jpg" alt="">
Retail Highlights:
<ul>
<li>maintained high occupancy of 99.5 per cent 1 (99.7 per cent at 31 December 2016);</li>
<li>solid comparable moving annual turnover sales growth of 3.5 per cent and comparable specialty sales growth of 3.6 per cent;</li>
<li>achieved total sales productivity of $9,934 per square metre and remain on track to achieve a sales productivity target of $10,000 per square metre in FY17;</li>
<li>increased comparable specialty sales productivity to $9,749 per square metre with specialty occupancy costs of 14.9 per cent;</li>
<li>executed 69 leasing deals across approximately 17,500 square metres, with leasing spreads remaining positive. More than 250 lease deals have been executed in the retail portfolio in the nine months to 31 March 2017, representing approximately 36,600 square metres;</li>
<li>Broadway Sydney, NSW ranked No.1 in the Shopping Centre News’ Big Guns Awards for annual turnover per square metre for the fifth consecutive year;</li>
<li>East Village, Zetland, NSW ranked No.1 in the Shopping Centre News’ Little Guns Awards in its first year of entry;</li>
<li>progressed with the $19 million Flinders Gallery development at Birkenhead Point, NSW. The 3,500 square metres of recon figured retail space is 95 per cent pre-leased and includes several premium international brands; and</li>
<li>received development approval for a 6,800 square metre expansion at Kawana Shoppingworld, QLD, delivering cinemas and an expanded dining precinct. The project, which is expected to commence in FY18, is 85 per cent pre-leased 1. This follows the successful $85 million expansion completed in 2014, which saw sales increase 28 per cent in the 12 months post completion. Mirvac has also commenced a campaign to sell-down a 50 per cent interest in Kawana Shopping world, in line with the Group’s capital partnering strategy.</li>
</ul>
Ms Lloyd-Hurwitz commented last week that its focused urban retail strategy continued to support a solid performance during the quarter, with high occupancy and strong sales productivity maintained.
"We remain on track to achieve our FY17 targets as we continue to grow a resilient urban income stream and extract further value from our existing high quality assets.”
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j.ballantyne1990-6AQqhLzZaK

Online shopping begins to impact on retail sales: Mirvac

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Retail is hot property in and around Melbourne, suggest a number of recent sales.
The latest to go on the market is a retail freehold located at Armadale in Melbourne’s inner east.
Savills Australia opened up expressions of interest for the sale of the <a href="https://commercialpropertysearch.savills.com.au/searchdetailplainnew2noborder.aspx?id=690caa7e-9f0e-e711-80cf-005056816353&amp;jt=For%20Sale&amp;com=False&amp;ret=False&amp;ind=False&amp;lan=False&amp;addr=941-951%20High%20Street%20Armadale%20%20VIC%203143" target="_blank">941-951 High Street</a> property expecting it would fetch more than $5.5 million. It came with a May 18 deadline, but sold within days of its listing.
It will be sold subject to a short term leaseback to antiques retailer, Capocchi.
Occupying 809 sqm, the commercial 1 zoned site comprises a single-level retail building.
The listing agents are Savills’ Nick Peden, Clinton Baxter, Jesse Radisich and Benson Zhou.
"Its position in High Street Armadale is regarded as Melbourne’s most high profile, luxury shopping strip – opposite Armadale Railway Station, and within close proximity of Glenferrie Road retail and Malvern Central Shopping Centre and some of Melbourne’s best schools,” said Baxter.
Peden described the property as a prime opportunity because of its development potential and being located in one of Melbourne’s most affluent suburbs.
“This is one of those opportunities that comes up very rarely presenting an extraordinary investment as it is, but then also offering significant redevelopment potential given the zoning and the resounding success of other development ventures in the precinct,’’ he said.
Recently, a restaurant in Armadale sold at auction for $1.22 million through Ray White Commercial Oakleigh. 
The 857 High Street property is leased to Zia Rina’s Cucina. It fetched a yield of 3.46 percent and sold $120,000 over the vendor’s reserve.
 
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Armadale High Street retail offers development potential: Savills

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The following charts describes what the Reserve Bank of Australia knows about Australia's housing sector.
The charts show a slight dip in housing loan approvals for investors.
<a href="https://www.propertyobserver.com.au/images/2017/05/03/Screen%20Shot%202017-05-03%20at%2011.32.03%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/03/Screen%20Shot%202017-05-03%20at%2011.32.03%20AM.png" alt="" width="836" height="547">
For more information, go to the RBA website <a href="https://www.rba.gov.au" target="_blank">here</a>.
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RBA's May chart pack gives insight to Australian housing loan approvals

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Adelaide’s popular Publishers Hotel is up for grabs, generating interest from developers, hotel operators and investors in a market devoid of large-scale development opportunities.
On a 2,112 sq m dual corner site at <a href="https://www.commercialrealestate.com.au/property/108-112-franklin-street-adelaide-sa-5000-2013504127" target="_blank">108-112 Franklin Street</a>, the CBD pub comprises a boutique front bar, contemporary restaurant, modern kitchen, 600 sq m function room, offices and storage space.
Colliers International’s Alistair Mackie and Paul van Reesema are marketing the property until offers close May 11.
“This property represents an excellent opportunity to acquire a strategic mixed-use development site with adaptive improvements and hotel licences,” Mackie said.
“In the immediate term, options exist to acquire the freehold only or continue operating the hotel and, in the longer term, incorporate this valuable asset into a mixed-use high-rise development,” Van Reesema said.
“Further down the track, developers, hotel operators or speculators can develop the property to its full potential and reap the benefits of owning a large CBD site located only 350 metres from Adelaide Central Market.”
Mackie said the current improvements provided a gross building area of about 3,650sqm.
<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/2017/04/18/Publishers%20Hotel%202.jpg" alt="">
“The elongated shape of the site provides developers the ability to stage high-rise developments up to 17 levels,” he said.
The site is in a rapidly evolving growth precinct of the city, which has undergone significant gentrification during the past five years, including the completion of Quest on Franklin’s serviced apartments, PWC headquarters and Vision On Morphett high-rise apartments.
“It is anticipated that increased population within the area will complement and enhance the range of opportunities and experiences provided in Adelaide, thereby boosting its lifestyle and tourism potential,” Mackie said.
On offer is the freehold site and improvements, together with the hotel leasehold.
Buyers may elect to acquire both or can choose to exclude the hotel leasehold.
The option exists for the vendor to leaseback the hotel for a short period to assist the purchaser during the transitioning phase.
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Adelaide Publishers Hotel property listed for sale

<html><body>Leading experts and economists believe the Australian property market may have ‘peaked’, while the Reserve Bank decided to leave the cash rate at 1.5 percent, according to finder.com.au. In the latest <a href="https://www.finder.com.au/rba-cash-rate" target="_blank" rel="noopener noreferrer">finder.com.au RBA survey</a>, all 34 experts and economists correctly predicted the Reserve Bank would keep the cash rate at its current level of 1.5 percent this month. When panellists were asked what they thought the Bank should do this month, three respondents (Dr Andrew Wilson of Domain Group, Stephen Koukoulas of Market Economics and Nicholas John Gruen of Lateral Economics) claimed the RBA should decrease the rate. Interestingly, two experts and economists (Noel Whittaker of QUT and Clement Tisdell of UQ-School of Economics) said the Bank should increase the cash rate. In terms of the next cash rate move, 78 percent of experts and economists are expecting a rise. However, the majority of this group (81 percent, 22) are not predicting the rise to come until 2018. Graham Cooke, Insights Manager at finder.com.au says mortgage holders should protect themselves from future rate rises. “One strategy you can employ is to split your mortgage rate. This way, you can enjoy both the flexibility of a variable rate and the stability of a fixed rate,” he says. On the other hand, of the minority of panellists who are tipping the next move to be down, most believe the cash rate will dip no lower than 1.0 percent.  An investment bank recently said the Australian housing market has “peaked”. In response to this statement, economists were divided; 60 percent (15) agreed while 40 percent (10) disagreed. Mr Cooke says some capital city markets may have peaked, but it’s difficult to conclude whether the national market has peaked. "Prices in some capital city markets, such as Perth, have deflated - but the cyclical nature of markets means it’s unlikely prices in other cities will increase indefinitely at their current rate.  “However, anyone holding out for a major price adjustment may be waiting a while. The general feeling is that while recent adrenaline-fueled price growth is likely to slow, it’s not expected that prices will fall dramatically. Prices may just plateau for a given period,” he says. Recent inflation data indicated a 0.5 percent increase in CPI in the March quarter, but panellists were divided about the positivity of this news.  Most respondents (17, 57 percent) said current inflation figures did not indicate that the economy is improving. However, thirteen experts (43 percent) thought the latest inflation figures show the economy is heading in a positive direction.</body></html>

Prices have peaked, but rates could still fall: finder.com.au survey

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National Parks and Wildlife Service (NPWS) is seeking expressions of interest from experienced operators to lease the restaurant and café at the state-heritage listed Fort Denison.
Fort Denison sits in Sydney Harbour adjacent to the Opera House and Sydney Harbour Bridge with views of the city skyline and harbour.
The site is part of Sydney Harbour National Park.
NPWS director Stuart Schramm expects interest in the EOI will be strong due to the island’s location, unique building and the potential to be involved at the very centre of some of Sydney Harbour’s world-renowned events including New Year’s Eve.
“The purpose of the EOI is to find a lessee able to provide an exceptional visitor experience while protecting the heritage and environmental values of this unique site,” Mr Schramm said.
“Café, restaurant and function proposals will be considered, along with alternative ideas or proposals to utilise the other areas on the island.
“The available lease area on Fort Denison is around 470 square metres and consists of one building, the former barracks building which is divided into a number of smaller rooms suitable for dining and other activities.
“Over recent years a restaurant, café and function space has operated on the Island and the site has been used for weddings, corporate events and special event functions such as New Year’s Eve and Vivid Sydney,” said Schramm.
The Fort was constructed between the 1840s and 1860s and retains its built form and highly significant collection of artefacts.
The EOI process closes 7 June 2017. Inspections of the site will be available, commencing in April, and must be pre-booked.
For more information on the tender, <a href="https://tenders.nsw.gov.au/oeh/?event=public.rft.show&amp;RFTUUID=BD1693A7-C361-872B-ACEC90D8BCFC8B23" target="_blank">click here</a>.
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NPWS opens expressions of interest for the lease of Fort Denison

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A vacant site with approval for residential development in West Melbourne has sold prior to auction to a Chinese investor for an undisclosed sum.
Demonstrating the sustained demand for land banks in this precinct, the deal for <a href="https://www.realcommercial.com.au/property-land+development-vic-west+melbourne-502308910" target="_blank">143 Rosslyn Street</a> was struck at a rate of $12,526 per sqm, brokered by Colliers International.
The 112 sqm site has a permit in place for nine apartments and one retail venue or office, equating to $155,888 per unit site.
The selling agents were Daniel Wolman, David Sia and Oliver Hay of Colliers.
The property has changed hands four times since 2013, according to RP Data, although the value of the transactions were not available.
The West Melbourne location is well serviced by public transport.
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Vacant Melbourne CBD allotment picked up prior to auction

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Total market vacancy in Parramatta is forecast to decline over the short term as pre-commitments absorb any new stock, according to Colliers International’s latest Metro Office report.
“Stage 1 Parramatta Square, which came online at the end of last year, was fully pre- committed by Western Sydney University.
Taking into consideration the development pipeline, 105 Phillip Street (delivery circa 2018, approx. 25,000sqm) is fully committed to the Department of Education and Stage 4 Parramatta Square (delivery circa 2019, approx. 62,000sqm) is fully committed to Property NSW.
These tenants will relocate from Darlinghurst and Sydney CBD which will likely contribute to above average positive net absorption for the period.
Looking further ahead, NAB has fully committed to 42,000sqm at Stage 3 Parramatta Square (delivery circa 2020),” the report stated.
2020 and 2021 should see Parramatta vacancy rising Colliers says.
“Notable vacant space is likely to be available in 2020 and 2021 with Parramatta City Council (126 Church Street), the Office of State Revenue (87 Marsden Street), and the Department of Planning and Environment (10 Valentine) intending to vacate 5,800sqm, 4,000sqm and 5,000sqm respectively.
Additionally, The Commonwealth Bank of Australia will vacate 101 George Street and 150 George Street in 2022 relocating to the Australian Technology Park (ATP) in Redfern, creating backfill space of approximately 40,000sqm.
As a result of the abovementioned movements, by early 2020 vacancy is forecast to fall to 3.3 per cent before increasing to 6.9 per cent by the end of 2021,” the report advised.
Colliers says that A Grade vacancy is likely to remain at full occupancy in the short term, with the secondary market, particularly B Grade, tightening at a faster rate.
“For the second consecutive period A Grade space remains at full occupancy, fuelling strong rental growth.
Over the last 12 months, net face rents have increased 5.8 per cent, with net effective rents increasing 10.4 per cent as incentives fell three percentage points to 15 per cent.
B Grade vacancy has fallen to 6.2 per cent, from 6.8 per cent, resulting in even stronger rental growth,” the report commented.
Net effective rents has increased over the past 12 months due to reduction in incentives Colliers says.
“Net effective rents increased 16.9 per cent over 12 months largely due to the significant 7 percentage point reduction in incentives, falling to 16 per cent.
With a strong pre-commitment market, we anticipate net effective rental growth to exceed historical averages for A and B Grade space of 3.6 per cent year on year and 2.5 per cent year on year respectively.
Over the next 12 months, net effective rents for A and B Grade are expected to grow by 10 per cent and 13 per cent respectively with the average annual growth rate over the next three years forecast at 6.7 per cent (A Grade) and 7.4 per cent (B Grade),” the report stated.
A 25,000 sqm office building at <a href="https://www.realcommercial.com.au/property-offices-nsw-parramatta-502320926">105 Phillip Street</a>, Parramatta (above) has been listed for sale.
A 1563 sqm office at <a href="https://www.realcommercial.com.au/property-offices-nsw-parramatta-501307275">87 Marsden Street</a>, Parramatta (below) was sold recently in April this year.
<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/2017/05/02/87%20Marsden%20Street.jpg" alt="">
Similarly a 2024 sqm office at <a href="https://www.realcommercial.com.au/property-offices-nsw-silverwater-502309706">36 Egerton Street</a>, Silverwater (below) was sold recently in April this year for $3.96 million.
<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/2017/05/02/36%20Egerton%20Street.jpg" alt="">
Small office space include a 120 sqm office at <a href="https://www.realcommercial.com.au/property-offices-nsw-granville-502328218?listingType=buy">9 &amp; 10/70-72 Railway Parade</a>, Granville (below) has been listed for between $1.2 million to $1.3 million.
<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/2017/05/02/9%20%201070-72%20Railway%20Parade.jpg" alt="">
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Market vacancy in Sydney's Parramatta expected to decline in the short term: Colliers

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A two-bedroom townhouse in Collingwood’s former Yorkshire Brewery has been sold for $1.075 million, after it was passed in during an auction with three competing bidders and a deal negotiated after.
The recently developed dual-level <a href="https://www.realestate.com.au/sold/property-townhouse-vic-collingwood-125095410" target="_blank">1 Brewery Lane</a> was represented by Jellis Craig, Richmond agents Jodie McCarthy and Joel Finkelstein, who marketed the property as an inner city pocket with close access to Smith Street, Collingwood College and Collingwood Station.
<img src="https://www.urban.com.au/images/2017/04/28/rsz_brewers.png" alt="">
The Yorkshire Brewery dwelling is characterised by dark timber floors, double brick walls, and 4.2 metre high concrete ceilings, as well as exposed brickwork which is continued through to spacious lounge and dining areas.
Key attributes and inclusions of the townhouse were a marble kitchen accessorised with Miele appliances, dual ovens and an integrated dishwasher. 
<img src="https://www.urban.com.au/images/2017/04/28/rsz_living.png" alt=""> Both upstairs bedrooms are generous in size, with the master retreat showcasing an ensuite. The central bathroom also carried a marble fitout and a freestanding bath with rain shower. Other additions include a powder room, European laundry, reverse cycle cooling, video intercom, two car spaces, and access to a gym, library, dining room and ninth floor BBQ terrace. 
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Collingwood heritage townhouse sold in Yorkshire Brewery

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A mudbrick residence located in the centre of Eltham has been sold, at un undisclosed price.
Encompassing a total land package of 1468 sqm, the sale of <a href="https://www.realestate.com.au/sold/property-house-vic-eltham-125040090" target="_blank">2 Jessicas Lane</a> was handled by Gayle Blackwood, of Morrison Kleeman Estate Agents.
Offset by bush aspects and a secluded garden, the property is one of only four homes in a street separated by native plantings, parking spaces, paths and an outdoor entertainment zone paved in reclaimed red bricks.
<img src="https://www.urban.com.au/images/2017/04/28/rsz_eltham.png" alt="">
 It offers a studio with workshop that can serve artists, musicians or provide a space for a home-based business.
An updated solid timber kitchen has been fitted with Smeg and Asko appliances, along with a formal living room and seamless access to the outdoor area, which features plumbed BBQ, gas heater and a cedar hot-tub and will have you enjoying the great outdoors on a regular basis.
<img src="https://www.urban.com.au/images/2017/04/28/rsz_2_jessicas_lane__eltham__vic_3095___property_details_1.png" alt="">
Adding to the appeal are in-floor heating, slow-combustion wood fire, slate-tiled bathroom, two split systems, fitted laundry, wood shed, double carport, extra parking, water tanks and ducted vacuum.
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Eltham mudbrick residence sold

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.

Staff reporter

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