One of North Sydney's best-known commercial buildings could become hundreds of new homes, with insurance giant Zurich Australia lodging a State Significant Development Application (SSDA) to transform 5 Blue Street into a mixed-use residential development above North Sydney Station.

Rather than demolishing the existing building and starting again, Zurich is proposing an adaptive reuse project that would convert the landmark office building into a 15-level residential development delivering 62 apartments, 86 affordable co-living dwellings, activated retail and significant upgrades to the Blue Street Plaza.

The proposal reflects a growing trend of commercial property owners repositioning ageing office assets into residential housing as Sydney grapples with housing supply shortages and changing workplace demand.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="0bba7d12-06dc-4375-aad7-238c94b21ac5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.42.05%E2%80%AFAM.png?VersionId=NJl5oLAEBDGuPmY3RnyliKODjMc8lvRh" />

Located directly above North Sydney Metro and train station, the 3,051 sqm site occupies one of the most strategically positioned parcels of land on Sydney's Lower North Shore.

Designed by fjcstudio, the proposal seeks to retain and adapt much of the existing structure while creating a contemporary residential address that better connects with the public domain surrounding North Sydney Station.

The application proposes two basement levels, ground floor retail, affordable co-living accommodation across the podium levels, and apartments above, while preserving and enhancing the publicly accessible Blue Street Plaza.

Rather than pursuing maximum apartment numbers, Zurich has opted for a housing mix heavily weighted towards larger owner-occupier residences.

The proposal includes 62 build-to-sell apartments comprising 12 one-bedroom, 19 two-bedroom, 29 three-bedroom apartments and two premium penthouses. It also incorporates 86 affordable co-living dwellings, which would be managed in perpetuity by a Community Housing Provider.

That balance between traditional apartments and affordable housing reflects the NSW Government's push to increase housing diversity around major transport infrastructure.

The proposal has been lodged concurrently with a rezoning application, with Zurich arguing the site is ideally positioned to support additional housing given its immediate proximity to public transport, employment and services.

"The proposal aims to respond to the housing challenges facing Sydney through the delivery of diverse housing types in a highly accessible location," the design report by fjcstudio states. It also seeks to improve pedestrian amenity through upgrades to Blue Street Plaza while creating a high-performing residential building that responds to the surrounding context.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="36082e15-c636-4481-bb68-5a5f6443fe39" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.41.36%E2%80%AFAM.png?VersionId=5P6VD.fvmqjQfIG3TWWMRXxQWiQBjeFB" />

Rather than replacing the commercial building, fjcstudio has developed a design that works with the existing structural framework above the rail corridor, an approach that significantly reduces demolition while allowing the site to be repositioned as a mixed-use residential precinct.

The existing structural constraints have informed much of the building's design, including its relationship with Blue Street and surrounding public spaces.

The building has been designed as a slender tower rising above a clearly defined podium, with vertically expressed façades intended to reduce the perceived bulk while reinforcing North Sydney's emerging skyline.

According to fjcstudio, the architectural language responds directly to the surrounding commercial towers while maintaining a finer grain expression more closely aligned with the neighbouring Lavender Bay streetscape.

The tower incorporates articulated façade elements, landscaped podium edges and recessed upper levels to soften its appearance and improve pedestrian amenity below.

A significant component of the proposal is the revitalisation of Blue Street Plaza.

The existing public space has long served as one of the primary pedestrian connections between North Sydney Station, Greenwood Plaza and Blue Street, yet its role is expected to become even more important following the opening of Sydney Metro.

Zurich's proposal seeks to strengthen that role by improving landscaping, introducing new retail frontages, enhancing pedestrian permeability and creating more active edges throughout the day and evening.

Ground floor retail would wrap the plaza, while separate residential and co-living entries have been designed to improve wayfinding without reducing street activation.

Landscape design has been integrated throughout the podium and public realm, softening what is currently one of the most heavily urbanised parts of North Sydney.

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fjcstudio has carefully oriented apartments towards Sydney Harbour and the CBD while using privacy blades and articulated façades to minimise overlooking between neighbouring buildings.

Large framed openings along the western elevation maximise harbour outlooks, while the eastern apartments have been angled towards the south-east to improve privacy from neighbouring development.

The project forms part of the continuing transformation of North Sydney from a predominantly commercial CBD into a genuine mixed-use city centre.

Since the completion of Victoria Cross Metro Station, developers have increasingly shifted their attention towards residential projects capable of leveraging the area's unparalleled transport connectivity.

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FiveX recently lodged plans for a 61-storey, 490-apartment tower that would become one of the tallest residential buildings in North Sydney if approved.

Aqualand continues to expand its Lower North Shore presence following the completion of AURA on Walker Street and its recent St Leonards and Roseville proposals.

Developers are also progressing projects throughout Walker Street, Miller Street and the Victoria Cross precinct as demand for well-located owner-occupier apartments continues to strengthen.

Joel Robinson

First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station

Busy developer Aqualand Prestige has formally taken the next step in its expansion across Sydney's Lower North Shore, lodging a State Significant Development Application (SSDA) for its long-held Archer Street site in Chatswood.

The application covers <a href="https://www.apartments.com.au/new-apartments/51-55-archer-street-chatswood-nsw-2067">51-55 Archer Street</a>, a 1,767 sqm amalgamated site on the eastern edge of the Chatswood CBD, where the developer is seeking approval for a 45-level mixed-use tower delivering 114 apartments, including a significant affordable housing component, alongside retail, commercial space and six basement levels of parking.

The SSDA marks the latest milestone for a project Aqualand has been quietly progressing over the past two years. The developer first secured the site for its Aqualand Prestige platform before undertaking an alternative design excellence process with PTW Architects, ultimately avoiding a formal design competition through the Housing Delivery Authority pathway.

The proposal has evolved considerably from Aqualand's original concept. The revised scheme has been designed around larger owner-occupier product, with an unusually high proportion of three and four-bedroom apartments, targeting the more affluent buyer profile, and downsizer, emerging across the North Shore.

<img alt="Archer St" data-entity-type="file" data-entity-uuid="0171204c-5811-41b5-9b09-2335d1b7c3d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%208.52.48%E2%80%AFAM.png?VersionId=6YTuxfq.puZo7k2wbfgemcO5K3QfXYGQ" />

The 114-apartment mix comprises six studios, 27 one-bedroom apartments, 18 two-bedroom apartments, 50 three-bedroom residences and 13 four-bedroom homes. A quarter of the building will be dedicated to affordable housing, well above the mandated 15 per cent&nbsp;

PTW has structured the building vertically, with affordable housing across levels one to six, premium apartments through levels seven to 31, duplex skyhomes on klevels 32 to 43, a penthouse on level 44, and a rooftop plant level above. Six basement levels will provide resident parking and servicing.

The tower is proposed to reach approximately 154 metres, placing it among a growing collection of residential high-rises transforming Chatswood's skyline.

Rather than competing purely on height, PTW says the design has been driven by creating a slimmer tower capable of delivering significantly larger apartments.

"The primary objective of this project was to create a distinctive building that stands out from the recently approved or built structures in the Chatswood area," the design report states, noting the structural efficiency allows greater investment into apartment quality and resident amenity.

Residents would have access to more than 450 sqm of communal open space including landscaped gardens, swimming pool, rooftop entertaining areas, fitness spaces, community gardens, children's play areas and barbecue facilities.

A major focus of the design has been the public domain.

The ground plane has been opened up through landscaped terraces inspired by Willoughby's sandstone ridges, with native planting, public seating, artwork, retail activation and a series of gathering spaces intended to soften what has traditionally been a hard commercial streetscape.

The landscape strategy references Blue Gum forests once common throughout the area, while incorporating Indigenous storytelling, public art and lighting installations to strengthen the connection to Country.

Chatswood has been one of Sydney's busiest apartment markets over the past 12 months, with a steady pipeline of both new project launches and fresh development applications.

Hyecorp recently launched Celine, a 122-apartment development just along Archer Street, while Changfa and Huirong Group are progressing The Anderson, an 84-apartment project on Anderson Street.

Develotek recently secured approval for a 101-apartment tower on Pacific Highway, while Tian An LFD received the green light for Hammond Greens, its apartment development on the edge of the Chatswood Bowling Club.

Commercial property developer FiveX is also making its move into the residential market. Last month it lodged plans for a 61-storey tower with 490 apartments, which, if approved, would become one of the tallest residential buildings in Chatswood.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-targets-chatswood-skyline-with-61-storey-tower-after-north-sydney-plans">First look: FiveX targets Chatswood skyline with 61-storey tower after North Sydney plans</a>

Aqualand is also expanding its development pipeline following the launch of its luxury residential brand, Aqualand Prestige. The developer has delivered a string of high-end apartment projects across Sydney's affluent suburbs over the past decade, most recently AURA by Aqualand on Walker Street in North Sydney.

[smartcode_project:default project_id=30959 project_image_fid=292863]

It has since quietly assembled its next wave of projects.

Earlier this year Aqualand launched Boronia in Roseville, a boutique 111-apartment development on Larkin Street. The project is one of the first significant apartment developments to launch in the suburb ahead of what is expected to become one of Sydney's most active new housing precincts under the NSW Government's Low and Mid-Rise Housing reforms, which allow greater density around train stations.

[smartcode_project:default project_id=152095 project_image_fid=373685]

The developer has also lodged plans for a two-tower, 413-apartment development on Herbert Street in nearby St Leonards, further strengthening its presence across the Lower North Shore.

Beyond that, Aqualand remains behind the final stage of Barangaroo, where plans will deliver a five-hectare mixed-use precinct comprising new homes, retail, hospitality and community facilities, alongside a new Metro entrance and more than two hectares of public open space, completing the Barangaroo precinct.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/central-barangaroo-development-takes-big-step-with-concept-proposal-approval">Central Barangaroo development takes big step with concept proposal approval</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-aqualand-joins-st-leonards-apartment-party">First look: Aqualand joins St Leonards apartment party</a> 
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First look: Aqualand pushes ahead with Chatswood apartment tower as SSDA lodged for Archer Street

Mass timber is becoming an increasingly popular construction material in apartment developments, but Adelaide developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> is taking the approach a step further.

At its new <a href="https://www.apartments.com.au/new-apartments/flowe-bowden-18-gibson-street-bowden-sa-5007">Flowe Bowden</a> development, the exposed cross-laminated timber (CLT) structure isn't just about reducing the building's environmental footprint. It also forms the foundation of a broader wellness strategy, influencing everything from indoor air quality and natural materials to the way residents move through and experience the building.

The 115-apartment mixed-use development, designed by Melbourne-based architecture practice Fieldwork, will occupy a prominent island site opposite Bowden Village Reserve, combining one, two and three-bedroom apartments with retail and a dedicated wellness destination.

[smartcode_project:default project_id=152022 project_image_fid=375528]

Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.

The development has been split into two residential wings connected by a naturally ventilated central breezeway, replacing traditional enclosed corridors with open-air walkways that improve natural light, encourage cross ventilation and create more opportunities for neighbourly interaction.

"Rather than treating wellness as something that only happens on the ground floor, our response integrates it throughout the building, which led us to ask what it really means to design a healthy building," Fieldwork Director Quino Holland said.

[smartcode_project:default project_id=152022 project_image_fid=375531]

The building's architecture also reflects Bowden's industrial heritage. The lower podium references the area's historic brick and sandstone buildings, while the upper levels transition to exposed CLT, allowing the timber structure to become a defining feature throughout the apartments and shared spaces.

The use of mass timber sits alongside a range of sustainability initiatives, including a fully electric, gas-free design, rooftop solar and a targeted 5 Star Green Star rating.

[smartcode_project:default project_id=152022 project_image_fid=375524]

Inside the residences, the focus remains on natural, durable materials. Blackbutt engineered timber flooring, exposed CLT ceilings, porcelain surfaces and warm timber joinery create a calming interior palette, while low-VOC finishes and responsibly sourced materials have been selected to improve indoor air quality.

Kitchens have been designed as the centrepiece of each apartment, featuring porcelain island benchtops, timber-look cabinetry and brushed steel tapware, with layouts that maximise natural light and ventilation.

[smartcode_project:default project_id=152022 project_image_fid=375530]

The more traditional interpretation of wellness comes in the form of Level Eleven, a two-storey wellness club spanning the ground floor, mezzanine and first floor.

The facility will include a gym, yoga and reformer Pilates studios, Finnish and infrared saunas, magnesium hot and cold plunge pools, and dedicated recovery spaces. Unlike many residential wellness facilities, Level Eleven will also operate commercially, allowing the broader Bowden community to access the venue while giving residents exclusive membership benefits.

The ground floor has also been designed around everyday living. A café overlooking Bowden Village Reserve will activate the street frontage, while a bike workshop with tool storage, co-working space and dog wash has been incorporated to support daily routines and encourage interaction between residents.

"Flowe brings together my two biggest passions, creating places and creating healthier lives," Otello founder Daniel Harris said.

"We wanted to create something Adelaide hasn't seen before, a genuinely healthy building, where the way you live is lifted without even trying."

Flowe is positioned directly opposite Bowden Village Reserve and within walking distance of Bowden Railway Station and the Adelaide Entertainment Centre, placing future residents just minutes from the Adelaide CBD while remaining connected to one of the city's most established urban renewal precincts.

[smartcode_project_cta:default project_id=152022]

Otello launches wellness-focused Flowe Bowden with Adelaide-first mass timber apartment design

Not all apartment amenities are immediately visible.

Swimming pools, gyms, rooftop terraces and residents' lounges have long featured on buyers' wishlists, but as the way Australians live has changed, so too have the features that make apartment living more convenient.

Increasingly, buyers are placing value on the practical aspects of day-to-day life. Fast internet, EV charging, secure bike storage, flexible workspaces and parcel management are becoming just as relevant as lifestyle amenities, reflecting changing habits and expectations.

Online shopping has been one of the biggest drivers of that shift.

Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally, making parcel deliveries a routine part of everyday life rather than an occasional convenience.

For apartment residents, however, receiving those deliveries isn't always straightforward.

Without someone home to accept a parcel, deliveries can be redirected to a nearby Post Office, left in building foyers or common areas, or require building management to temporarily store packages. As apartment living continues to grow across Australia's cities, parcel management has become an increasingly important consideration for both residents and developers.

Australia Post's Parcel Locker network is one response to that shift.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/KPZ9j5FRdsQ?si=Qztc1dNP3ZvEIUhb" title="YouTube video player" width="560"></iframe>

Rather than relying on home delivery, eligible parcels can be directed to a nominated Parcel Locker, where they're securely stored until collected. Once a parcel arrives, residents receive a notification through the AusPost app or SMS and can retrieve it using a one-time code or QR code at a time that suits them.

The network has expanded to more than 1,500 locations nationwide, with Parcel Lockers positioned at Post Offices, shopping centres, supermarkets, transport hubs and, increasingly, within or alongside residential developments.

That growing presence reflects a broader change in how apartment buildings are being planned.

Developers are increasingly considering the operational side of apartment living alongside traditional lifestyle amenities. Just as secure mailrooms, bicycle storage and EV charging have become more common inclusions, parcel management is emerging as another feature that supports everyday convenience.

It also helps preserve the arrival experience within a building. Carefully designed lobbies and communal spaces can quickly become cluttered when deliveries accumulate, while secure parcel solutions reduce the likelihood of missed deliveries or parcels being left unattended.

For buyers comparing apartments, these everyday details are becoming part of the decision-making process.

Location, floorplans and finishes remain fundamental, but the features that simplify daily life are carrying greater weight than they once did. As online shopping continues to shape consumer behaviour, secure parcel delivery is increasingly becoming another amenity worth looking for.

Parcel delivery is joining the apartment amenity checklist

Inca Property Group has lodged a State Significant Development Application (SSDA) for Dawn, a 53-apartment oceanfront development overlooking Mona Vale Beach.

The proposal, at 35-39 Darley Street East, would replace an existing 18-apartment strata building with a new owner-occupier-focused development comprising 53 two and three-bedroom apartments, including nine affordable built-to-rent residences delivered under the State's infill affordable housing scheme.

Positioned on a 2,679 sqm elevated site around 280 metres from Mona Vale Beach, the development has been designed to maximise panoramic ocean views while responding to the site's sloping topography.

<a href="https://www.apartments.com.au/developers/inca-property-group">Inca Property Group</a> Managing Director Josh Thompson said the State Significant pathway provided greater certainty for projects of this scale.

"This State Significant pathway gives the team real certainty to progress <a href="https://www.apartments.com.au/new-apartments/dawn-35-39-darley-street-east-mona-vale-nsw-2103">Dawn</a> through to completion," Thompson said.

"It allows us to acquire a one-off site, design it carefully and deliver the right offering for the suburb, assessed by the NSW Government's planning department."

The project is one of the first developments in the area to be assessed under the NSW Government's Low and Mid-Rise Housing policy, with the site sitting on the edge of the policy's designated inner area.

The proposal includes three basement levels providing 124 car spaces, alongside a range of resident amenities including a swimming pool, gym, sauna, wellness facilities and private plunge pools for selected ground-floor and penthouse apartments.

<img alt="Dawn" data-entity-type="file" data-entity-uuid="fc1a1daf-0ce4-4f12-9076-b1fa553c7a91" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-21%20at%208.42.11%E2%80%AFAM.png?VersionId=4GZ9h.gpNkTljbxyAET8Jfhv51XUamDm" />

Thompson said Dawn had been designed specifically for owner-occupiers and downsizers, a buyer profile that has driven demand across Inca's recent Upper North Shore developments.

"The majority of buyers in our recent North Shore projects have been downsizers, and we are learning exactly what this market is looking for. Beyond the location itself, we have included resort-style amenities to deliver a genuine lifestyle offering," Thompson said.

Located within walking distance of Mona Vale Beach, the town centre, Mona Vale Golf Club and the Royal Motor Yacht Club, Dawn represents Inca's first Northern Beaches project following the sell-out of Tara on Park in Waitara and Ellis Residences, currently under construction in St Ives.

Construction will be undertaken by Inca's in-house construction arm, GOP Constructions.

Dawn is the latest major apartment proposal for Mona Vale, with the suburb emerging as one of the key beneficiaries of the NSW Government's new Low and Mid-Rise Housing policy.

New developer One Living, led by industry veteran Joseph Scuderi, recently secured a site on Mona Vale Road, on the border of Mona Vale and Pymble, where it is planning around 140 apartments.

IPM is also planning its third project in Mona Vale, significantly increasing the scale of its previous developments with an 82-apartment proposal at <a href="https://www.apartments.com.au/new-apartments/159-167-darley-street-west-mona-vale-nsw-2103">159-167 Darley Street West</a>, opposite Bayview Golf Course and less than 800 metres from Mona Vale town centre.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/one-living-enters-sydneys-new-apartment-market-with-northern-beaches-site-acquisition">One Living enters Sydney's new apartment market with Northern Beaches site acquisition</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-ipm-plans-third-mona-vale-project">First look: IPM plans third Mona Vale project</a>

First look: Inca eyes Mona Vale with State Significant DA for Dawn apartments

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

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First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

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An architecturally designed three-level home in Balgowlah Heights is on the market for the first time, with a price guide of $2.5 million-plus.
Located on Abbott Street, its vendor and architect Vince Squillace originally lived in a bungalow on the 420-square-metre lot for five years to understand the site and how to minimise his carbon footprint.
“Over this period we became familiar with the site, the views, the sunlight, the prevailing winds and the potential of the site,” Squillace told Property Observer.
The family home features five bedrooms, three bathrooms and offers 270-degree panorama views of the ocean, harbour and city skyline through retractable glass walls.
The home also features Giallo Venus marble flooring throughout and a Frank Lloyd Wright inspired timber acoustic ceiling in the living room.
The standout feature is the sunlit rooftop deck with a marble wet bar and kitchenette.
Squillace says the deck offers views of the New Years Eve fireworks in Sydney Harbour, Rose Bay and Manly.
The property also includes a heated outdoor pool with a waterfall and a Japanese inspired front garden.
The property will go under the hammer on June 15 through Kingsley Looker of <a href="https://www.cunninghamsproperty.com.au/buying/NSW/Northern-Beaches/Balgowlah-Heights/House/1P5132" target="_blank">Cunninghams Property Balgowlah</a>.
The median house price in <a href="/news">Balgowlah Heights</a> is $1,715,000, according to RP Data.
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Architect Vince Squillace-designed Balgowlah Heights trophy home listing

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The recent $5.4 million sale of a Malvern home to an expatriate has a buyer's agent pondering its significance.
David Morrell at Morrel and Koren noted "there’s so much about the top end which is idiosyncratic, but the expressions of interest closing on the <a target="_blank" href="https://www.4amayfieldavemalvern.com.au/">Mayfield Avenue home </a>saw a local and an expat go head-to-head.
"At just under $5.4 million, only the expat still stood," he observed on the sale which happened just as the dollar declined to below parity earlier this month.
The reputed sale price was "considerably above where it failed to sell at just over $5 million late last year," Morrell added.
"One-off, or sign of things to come?" he concluded without answer but another question.
"With the AUD faltering, will we see more expats making a move?
"When it was at $1.03, there were agents predicting a surge in expat activity. Didn’t happen. But a falling dollar may prompt some to get off the fence," Morrell said.
Rival agent Mal James says "interest rates and the dropping dollar certainly appear to be accentuating the increased demand at the top end."
"We have had minor but noticeable increases in enquiry from overseas clients," James advised. On the Mayfield Avenue, Malvern sale James noted the property was on the market quietly late last year and "had a nibble at $5 million" but was not bought.
"As the dollar drops further we are likely to see more cases of expats buying back in to the Australian top end market, pushing prices up still further," he advised.
It last sold in 1999 for $1,275,000 when bought by James and Alison Mighell from Rodney and Althea Syme.
Property Observer notes the property has been bought by Simon Bayley who has previously lived in Malvern. The sale was May 13, the Monday after the Friday night when the A$ for the first time since June, 2012 dropped below parity. 
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Expat's $5.4 million Malvern house purchase seen as one European swallow for prestige price growth surge

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Kookaburra, a 2.02-hectare estate in the northern Sydney suburb of Bayview, has been listed for sale with a price guide of $8 million-plus.
The six-bedroom, six-bathroom property was built around 40 years ago with views over Ku-Ring-Gai Chase National Park.
Kookaburra features a tennis court, pool and a koi-filled pond.
There is also a poolside cabana with a sauna, treatment rooms and an office space, which could be turned into additional accommodation.
The office space and treatment rooms were used in the vendors business Holistic Hideaways, a natural approach to health.
The 580-square-metre home was extensively renovated recently to include a new kitchen, new flooring, new appliances and repainting.
It has been listed with Nicholette Van Wijingaarden of <a href="https://www.uniqueestates.com.au/Homes/Detail.aspx?id=ue315&amp;wlid=024adba9-3633-4a0b-b365-cae8bf33e085" target="_blank">Unique Estates.</a>
The RP Data median house price in <a target="_blank" href="/news">Bayview</a> is $1,102,500.
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Kookaburra estate Bayview: $8 million-plus

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Autumn is set for one last hurrah with auction listings climbing back up this week, with 1,541 auctions scheduled in capital cities across the nation. Most will be held tomorrow.
The figure is slightly higher than the revised figure of 1,458 auctions last week but still lower than the previous week of 1,582 auctions.
Last week, the clearance rate rose to 69.2% - the highest rate recorded this year - up from 65.6% the week prior.
At the same time last year the clearance rate was much lower at 53.5% and only 1,300 auctions were recorded.
Melbourne has 760 auctions scheduled for the coming week, slightly more than the revised figure of 702 last week but less than the 807 auctions the previous week.
However, Melbourne’s clearance rate increased to 72.7% last week from the revised 71.3% recorded the previous week.
Meanwhile, Sydney’s clearance rate increased from the revised 67.7% the previous week to an exceptionally strong 75.3% last week.
Both Melbourne and Sydney clearance rates are outperforming when compared to the same time last year.
Melbourne recorded a 60.6% clearance rate this time last year and Sydney recorded 53.3%.
Sydney has 533 auctions scheduled for the coming week, slightly more than the revised figure of 501 auctions last week and 516 the previous week.
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Autumn's last hurrah as auctions increase: RP Data

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The first architectural impressions of Crown Group’s new development in North Sydney Skye by Crown have been released.
The 20-storey residential complex is designed by Japanese Australian architect <a target="_blank" href="https://www.propertyobserver.com.au/developments/influential-architect-koichi-takada-transforming-sydney-apartment-scene/2013040258772">Koichi Takada</a> and features a bronze coloured metal veil exterior.
The 232 apartments will feature glass facades, balconies and winter gardens.
“Our vision for Skye by Crown is about creating a sculpture in the heart of North Sydney – it is about creating an icon for a decade to come,” says Crown Group chief executive Iwan Sunito.
<img src="/images/stories/april23tivoli/crownmay21three.jpg" width="470" height="556" alt="crownmay21three">
“Skye by Crown’s bold design and high-quality construction will raise the benchmark for residential developments in Sydney,” says Sunito.
<img src="/images/stories/april23tivoli/crownmay21four.jpg" width="470" height="453" alt="crownmay21four">
The standout feature is the 25-metre rooftop infinity edge pool, boasting panoramic views.
“The infinity pool on top of the architecture creates an illusion of floating above the city skyline,” says Takada.
“You feel like you’re on a remote island in a five star resort.
“The organic veil creates a sculptural quality as well as a soft transition from busy city life into the residential amenity,” says Takada.
<img src="/images/stories/april23tivoli/crownmay21two.jpg" width="470" height="361" alt="crownmay21two">
<img src="/images/stories/april23tivoli/crownmay21five.jpg" width="470" height="357" alt="crownmay21five">
Other facilities include a gymnasium, community room and a rooftop terrace.
“The amount of interest in Skye by Crown at this early stage before the advertising campaign launch is a testament to Crown’s reputation for delivering high-quality apartments.
“Skye by Crown’s exceptional North Sydney location, close to shops, transport and major employment hubs, is a major draw card for investors and owner-occupiers alike,” says Sunito.
<img src="/images/stories/april23tivoli/crownmay21one.jpg" width="470" height="360" alt="crownmay21one">
Apartments range in price from $499,000 to $2 million plus.
Studio apartments range in size from 36 square metres to 43 square metres.
One-bedroom apartments range in size from 50 square metres to 61 square metres.
Two-bedroom apartments range in size from 73 square metres to 88 square metres.
Three-bedroom apartments range in size from 120 square metres to 148 square metres.
There will be three penthouses on offer, boasting high level finishes and rooftop gardens.
The project is set to <a target="_blank" href="https://skyebycrown.com.au/">launch</a> in June, with construction scheduled to start in late 2013.
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Skye by Crown set to become North Sydney "icon"

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An apartment in the Spanish Mission style Del Rio apartment block in Elizabeth Bay has been listed at $4.75 million.
Located on the Billyard Avenue dress circle harbourfront, it is the first time the home has been offered in 10 years. Its an apartment block often featured in prize <a target="_blank" href="https://www.artgallery.nsw.gov.au/collection/works/287.1984/">paintings</a> given its lovely setting between the iconic Elizabeth Bay House and the harbour.
Del Rio was designed by John Spencer-Stransfield in 1928, who is more famously known for designing the <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/1917-gilgunyah-bungalow-in-haberfield-secures-%2422-million-plus/2013051661190">federation suburb Haberfield</a>.
The 2009 Belle-featured apartment was purchased in October 2001 for $1.96 million and has undergone $1.5 million worth of improvements by designer Garth Barnett.
The property originally had a three-bedroom layout - with the third bedroom used as the maid’s quarter - however its been transformed into two large comfortable bedrooms.
The property features soaring ceilings, French parquetry and travertine floors and two marble-finished bathrooms.
Real estate agent Jaime Upton of Ballard Property Group says the ground floor apartment feels like a house due to its accessibility to the garden and mosaic-tiled pool.
Its vendor Charles Wilkins, a leading Sydney caterer, has expressed interest in architecturally noteworthy inner city residential buildings.
Wilkins has previously owned apartments in The Astor, Macleay Regis and Wyldefel Gardens. He has recently purchased a property in the Southern Highlands.
His Elizabeth Bay apartment is listed through Jaime Upton and Clint Ballard of <a target="_blank" href="https://www.ballardproperty.com.au/Buying/Search/residentialresult/residentialdetail.aspx?id=WOOLLAHRA%202012150&amp;wlid=f88c65eb-abf5-447a-8a43-a0b61a43af8a">Ballard Property Group.</a>
The median apartment price in <a target="_blank" href="/news">Elizabeth Bay</a> is $522,500, according to RP Data.
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Del Rio, Elizabeth Bay trophy home $4.75 million listing

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The former Bellevue Hill matrimonial home of the late transport tycoon Sir Peter Abeles was sold for $15,501,000  when offered at its invitation only onsite auction tonight.
Listed with $11 million-plus hopes, <a target="_blank" href="https://www.propertyobserver.com.au/news/cranbrook-school-secures-the-%24155-million-bellevue-hill-former-home-of-sir-peter-abeles-cranbrook/2013052261595?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news">the property presented a rare opportunity</a> as it last sold 45 years ago. The underbidders let it go after their $15.5 million offer.
There was on onsite crowd of just shy of 20 who made their way through the drizzle and up the crown land driveway into Sundorne, the well-hidden Tudor style six-bedroom Victoria Road mansion.
{yoogallery src=[images/stories/2013/05/may23abelesauction]}
The opening bid was $8 million. It was announced on the market at around $11.5 million from whence it was just a two bidder contest. The 6.30 pm auction was a drawn out affair with Title Tattle only securing the result as attendees departed the home at 7.01 pm. The underbidder had sought to make contact, but was thwarted, with related parties who couldn't get to the auction, but presumably had the cash.
"Champion effort," <a href="https://twitter.com/Andrew__Cooley" target="_blank">the auctioneer</a> was told by a colleague after the timewarp auction.
"Beyond our expectations," was the post-auction comment from the only attendees of Chinese descent.
Although not advertised as a private auction, a list of names signalled those allowed inside the home, and those who turned up and faced the locked door, as in Property Observer's case. At least three desirous attendees were turned away, along with leading Sydney estate agents. 
It had been home to Sir Peter and his first wife, the arts patron Claire Dan during the period when Sir Peter was cementing his place in Australia’s corporate life.
The two-storey home has interior furniture and fittings installed by Peter and Claire (pictured below). With ashtrays on every table, and wood-panelled walls it solicited comparisons with the 1960s-styled series Mad Men.
<img alt="abeles5" src="/images/stories/2013/04/abeles5.jpg" width="400" height="600">
One can almost image Sir Peter playing poker with his regular guests who included the Premier, Sir Robert Askin.
The inspectees can even spot a lamp stand fashioned in the likeness of former ACTU boss and Prime Minister Bob Hawke that stands close to the large leather writing desk in the library that overlooks the water.
Sir Peter bought Sundorne from the well-connected establishment Simpson lawyer family in 1958 through his company P.A. Holdings Pty Ltd for about £60,000.
<img alt="abeles1two" src="/images/stories/2013/04/abeles1two.jpg" width="470" height="348">
The couple had emigrated from Hungary in 1949 with little money in the post-war exodus from Europe.
The couple divorced a decade after purchasing Sundorne with Ms Dan retaining a life tenancy of the home set along the property’s very long and very private tree-lined drive. Ms Dan divorced Peter in 1968 after learning that his frequent absences from the marital home were because he was living with the then Katalin Frank, also known as Fischer, at the Wentworth Hotel. Sir Peter was knighted in 1972.
<img alt="abeles3two" src="/images/stories/2013/04/abeles3two.jpg" width="470" height="352">
The 2550sq m site has a full-size flood-lit tennis court and in-ground pool with district and harbour views reaching from the city skyline and bridge to Manly in the north. After a long battle with cancer Sir Peter, who relocated to Vaucluse in 1970 paying $450,000 for Villa Igiea, died in June 1999 aged 75. As Sir Peter lay unconscious just hours before his death, Bob Hawke paid a visit to the Vaucluse home to bid his friend of 30 years a final farewell.
Ms Dan passed away last October.
<img alt="abeles2two" src="/images/stories/2013/04/abeles2two.jpg" width="470" height="630">
The property is across the road from the Cranbrook School on the corner of Victoria Road and Rose Bay Avenue, which was known as Gallipoli Avenue until 1926.
<img src="/images/stories/2013/05/abelesmapmay23three.jpg" width="470" height="302" alt="abelesmapmay23three">
Sundorne, at 23 Victoria Road, Bellevue Hill, was auctioned through Daniel Baran and Reece Coleman at <a href="https://twitter.com/AgencyforLife" target="_blank">BHR Estate Agents</a> in conjunction with Sydney Sotheby's International agents Michael Pallier and Matt Ratcliffe.
The contents of the home including furniture and exceptional items from Claire Dan’s couture wardrobe will be auctioned by Andrew Shapiro of Shapiro Auctions on Sunday June 23.
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Sir Peter Abeles' former Bellevue Hill mansion fetches $15,501,000

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An iconic Sydney bar and microbrewery on King Street Wharf has been listed for lease transfer.
King Street Brewhouse, formerly known as James Squire Brewhouse, has been listed for lease transfer six years after the current owner leased the premises.
<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/stories/2013/05/brewhousemay17one.jpg" alt="brewhousemay17one" width="470" height="336">
He says there has been international interest in the property ranging from restaurants, liquor retailers, local publicans, property investors and everything in between. Given the current interest in the sale he says it is hard to gauge a  price.
According to the information memorandum for the property strong historical tenancy demand in the area has average rents at between $1,500 to $2,000 gross per square metre in comparable premises.
Graeme Thompson, the vendor, has been running the pub independently of James Squire who abruptly left the business in 2010, taking its brewing license with it.
<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/stories/2013/05/brewhousemay17two.jpg" alt="brewhousemay17two" width="470" height="402">
<a href="https://rca.joneslanglasalle.com.au/property-hotel+leisure-nsw-sydney-500729743" target="_blank">The 24-hour pub</a> operates as a restaurant, bar and microbrewery. In the year ending December 2012 it made $3.6 million in profit, down from $4.3 million the year before.
 
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In April 2013 a new brewing license was approved and the microbrewery has restarted operations as Red Tape Brewing. It reportedly earns a 92% profit on all self-brewed beer sold in the premises.
The license reportedly took some time to grant due as the ATO would not grant a new licence due to past tax debts relating to another venture in Melbourne which has ceased operations.
<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/stories/2013/05/brewhousemay17three.jpg" alt="brewhousemay17three" width="470" height="320">
Graeme Thompson obtained the lease for $14 million, according to lease transfer documents. Though listing agent John Musca says the sale was complicated and may not represent its true value. It was last valued at $22 million in 2007.
The 1315 square metre site is on a 99-year lease from the Waterways Authority which was signed in 2000. All other land within the King Street Wharf precinct has head leases from the Waterways Authority to Brookfield Multiplex.
The pub, next to Bungalow8, Nicks Seafood and Grill, Malaya Restaurant, Cargo Bar, is one the largest tenancies available on King Street Wharf.
The premises have five areas all serviced by one U-shaped wraparound bar over two levels separated by few internal steps and there is an extensive beer garden.
<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/stories/2013/05/brewhousemay17four.jpg" alt="brewhousemay17four" width="470" height="313">
The site has the potential to be licensed for 900 people.
The information memorandum for the listing says the only recent comparable sale was the Pier 26 venue nearby (now known as Helm Bar) which sold for $17.5 million at an initial yield of 9.8% and with a turnover of $87,970 per week at the time of sale. It was sold by Listed company Amalgamated Holdings to Sydney hotelier Peter Wadsworth.
The lease term at the time of sale was 80 years and the operating floor area an estimated 700m2.
 
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Businesses in the area are known to pay in excess of $1.5 million per annum in rent.
The microbrewery has four 800 litre holding tanks with a capacity for production of 41,600 litres per annum.
<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/stories/2013/05/brewhousemay17six.jpg" alt="brewhousemay17six" width="470" height="303">
It is reportedly being sold due to the “recent ill-health of the owners and their inability to manage the business, and more-so drive the business, coinciding with the vacation of James Squire, also had an understandable negative effect on revenues and earnings”.
It is being handled by Jones Lang LaSalle Hotels and Hospitality national director John Musca.
The site is right next to the multi-billion-dollar Baranagaroo development and is expected to receive a significant number from patronage from workers at site and later residents.
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Former James Squire Brewhouse on King Street Wharf listed for sale

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The futuristic Apollo Gate, the Sutherland Shire's latest waterfront listing, has been snappily sold for $3.2 million through Steve Day at McGrath Estate Agents Cronulla.
It's the one nicknamed the Cronulla spaceship house, a reputation that dates back to its completion in the 1970s with its Reuben Lane design.
It has changed hands just the once in the past four decades - at $185,000 in 1978 when sold by the Breen family who owned the Metropolitan Sand Company at Cronulla.
It was bought by Evan Cardiacos, who was in the rug and floor covering trade, until his 2008 death.
The six-bedroom house ranks unquestionably among the shire's most iconic waterfront homes.
"Apollo Gate is a unique architectural masterpiece with spectacular views over Port Hacking to Bundeena and Jibbon Beach," <a href="https://www.mcgrath.com.au/buy/house-cronulla-nsw-2230/178472/?searchID=28632096" target="_blank">Steve Day says</a>.
He issued 11 contracts over the four week marketing campaign for the house at 4-6 Cowra Place.
The buyer is a builder who plans a renovation to live in the home when when finished with his family.
With direct access to Salmon Haul Bay, Lane's bold design was motivated by spiritual and architectural links to Mediterranean villages with whitewashed buildings clinging to the coastlines.
It featured in NSW Builder magazine, the official journal of the Master Builders' Association, in May 1975 (pictured below). It was built by CH &amp; CR Ellis with spiralling western red cedar ceiling.
<img alt="cronullamay3one" src="/images/stories/2013/05/cronullamay3one.jpg" width="470" height="391">
<img alt="cronullamay3two" src="/images/stories/2013/05/cronullamay3two.jpg" width="470" height="323">
<img alt="cronullamay3three" src="/images/stories/2013/05/cronullamay3three.jpg" width="470" height="343">
 
Reuben Lane, who died last year, was inspired by the work of his mentor Oscar Niemeyer, the architect of Brasilia. 
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Cronulla's spaceship: trophy home sale

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Sydney’s weekly auction clearance rate jumped nearly 8 percentage points from the week before, according to RP Data.
RP Data recorded an auction clearance rate of 75.3% for the week, up from  67.7% the week before. 
From a total of 378 it has so far recorded 385 auction results of which 290 sold.
The number may change as more results are counted. 
And according to APM there was a clearance rate of 78.6% over the weekend compared to 69% the week before.
Of the 268 auctions recorded by APM 224 sold at a total value of $185 million. The number may change as more results are counted.
The median sale price for houses was $835,000 and $635,000 for units. Last week it was $920,000 for houses and $617,750 for units.
And at the same time last year the clearance rate was 58.2%.
Two weeks ago APM's initial result of 78% was subsequently revised to 69%.
The cheapest auction sale recorded by APM was a <a href="https://www.realestate.com.au/property-unit-nsw-mount+druitt-113642647">two-bedroom unit on Hythe Street in Mount Druitt</a> which sold for $230,500.
It last traded for $250,000 in 2003, according to RP Data.
APM's Andrew Wilson told APM News on Fairfax Media the Sydney market continues to rise on the back of low interest rates and the nation’s best performing capital city economy.
He says Sydney’s weekend auction clearance rates have averaged 75% since Easter and says the housing market is showing no signs of slowing down.
He says there are signs of a revivial in the prestige market with eight sales above $2 million over the weekend. 
Canterbury Bankstown had the highest regional result on Saturday with a clearance rate of 83% with an average sale price of $628,667. The upper north shore at 81% and the inner west at 80% came close as well. 
And he says demand for apartments close to the city remains strong with the the $1.09 million sale of a <a href="https://www.domain.com.au/Property/For-Sale/Apartment-Unit-Flat/NSW/Haymarket/?adid=2010418931" target="_blank">three-bedroom unit on Quay Street at Haymarket</a>. 
"Sydney’s weekend auction market continues to strengthen with clearly its best autumn performance for three years with just two weekends to the Queen’s Birthday holiday which signals the start of the winter selling season," Wilson writes.
"Although according to last week’s budget national economic performance is predicted to deteriorate, the Sydney economy continues to be a standout. Latest April ABS unemployment data now had the Sydney rate falling to just 4.9 percent- the lowest rate of all the state capitals and more good news for the local housing market."
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