Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

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

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

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

WM Residences fills gap in Mordialloc townhouse market

Chatswood

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A three-bedroom, two-bathroom mortgagee apartment in Chatswood has been listed for $2,850,000 through Ray White
The <a href="https://www.raywhite.com/nsw/chatswood/1898211/" target="_blank">Post Office Lane property</a> sits on the 37th floor of the highly sort after Metro Residence that showcases vast 270 degree views of Sydney and the Pacific Ocean.
The open-plan living expanse connects to a north facing outdoor room welcoming both natural light and panoramic district vistas through a selection of picture windows. 
The Miele kitchen features a stone topped island bench and effortlessly interacts with the dining and living areas. 
Equipped with an abundance of storage, each bedroom boasts built-in robes in addition to three linen cupboards within the wide hallway. 
The apartment is easily accessible with multiple lifts linking to the secure double parking and a luxurious entry foyer positioned directly opposite Woolworths adjoining the Chatswood Train Station. 
The apartment last sold for $2,310,000 last February, and $1,370,000 in 2011. 
According to Realestate.com.au, 25 other three-bedroom apartments in Chatswood have recently been sold, with the latest being a three-bedroom, two-bathroom apartment on Katherine Street which sold for $2,350,000 on March 4, 2020. 
<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/2020/4/14/3_Chatswood%20Living%20Room.jpg" alt="">
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j.ballantyne1990-6AQqhLzZaK

Chatswood mortgagee apartment listed for $2.85 million

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A Chatswood unit was sold at weekend auction for $1.288 million. 
The apartment, at 1211/2B Help Street, has two bedrooms and two bathrooms, with 119 square metres of internal space.
<img src="https://www.urban.com.au/images/2019/9/30/chatty%204.jpeg" alt=""> 
It sits within walking distance of Chatswood's Westfield shopping centre, train station, and restaurant precinct. 
It had previously sold in 1999, when it sold for $550,000.
The 2019 sale exceeded the suburb's median unit price of $918,000.
The median price in Chatswood for two-bedroom units is $1 million.
Jeremy Hong and Garo Karamanian, from Century 21 Seika, secured the sale of the Regency building apartment.
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wdavis-8cCN98p7xp

Chatswood apartment fetches $1.288 million

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Centuria and BlackRock have today announced the sale of their jointly-owned Zenith office towers in Chatswood.
It sold for $438.2 million, a record price for an office building outside of the Sydney CBD.
Knight Frank’s Tyler Talbot and Ben Schubert, in conjunction with CBRE’s Michael Andrews and Scott Gray-Spencer, brokered the deal.
The Zenith is A-Grade office complex comprising twin 21 level towers and basement parking.
The 821 Pacific Highway office building, 12 kms North of Sydney CBD property, attracted 10 offers after it was listed earlier this year <a href="/expert-insights/investing/the-zenith-chatswood-listed-with-400-million-price-expectations">with $400 million price expectations</a>.
Set on a 7,990 sqm site, it has a net lettable area of 44,102 sqm, with 785 parking spaces.
Centuria’s Head of Real Estate and Funds Management, Jason Huljich said, the sale price was "an outstanding result," reflecting the general strength of the market and Centuria and BlackRock's asset management strategy in enhancing the yield on the property.
Mr Huljich said income returns from the Centuria Zenith Fund have been excellent, "on average 7.7% p.a., which is very attractive in the current low interest rate environment.”
“The strong sale price achieved from The Zenith offers more proof of our ability to identify opportunities in strengthening markets, which allows us to implement our active asset management strategy to make our properties more attractive workplaces for both our existing and prospective tenants.”
“In the time we have owned The Zenith with BlackRock, our asset management teams have worked extremely hard on the property – they have closed 58 leasing deals to take the occupancy to 100% and increase the WALE from 2.5 to 4.3 years.”
“The success of our active management strategy is clear in the significantly increased rents.
"When we bought The Zenith in 2016, market rents were on average $490 per sqm net p.a. and we have recently completed a deal at $685 per sqm net p.a., which is the highest rate ever recorded in Chatswood. This is because tenants recognise the quality of the property and its position as the premier building in its market," he concluded.
<img src="https://www.urban.com.au/images/2019/6/7/Zenith%202.JPG" alt="">
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Zenith towers in Chatswood sold for $440 million

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Centuria and BlackRock sold their jointly-owned Zenith office towers in Chatswood to US giant fund manager Starwood.
It sold for $438.2 million, a record price for an office building outside of the Sydney CBD.
The Connecticut based Starwood Capital made the acquisition with New South Wales' Arrow Capital Partners.
Knight Frank’s Tyler Talbot and Ben Schubert, in conjunction with CBRE’s Michael Andrews and Scott Gray-Spencer, brokered the deal.
The deal was struck at a yield in the range of 6 percent and 6.5 percent. 
Early last year, Starwood Capital, Arrow Property Investments and Pindan Capital completed a $160 million purchase of the seven-level, 17,792 sqm St Leonards building at 29-57 Christie Street. 
The Zenith is A-Grade office complex comprising twin 21 level towers and basement parking.
The 821 Pacific Highway office building, 12 kms North of Sydney CBD property, attracted 10 offers after it was listed earlier this year <a href="/expert-insights/investing/the-zenith-chatswood-listed-with-400-million-price-expectations">with $400 million price expectations</a>.
Set on a 7,990 sqm site, it has a net lettable area of 44,102 sqm, with 785 parking spaces.
Allen's advised on the sale of two office buildings with lead partner Victoria Holthouse.
In 2016, Allens had advised BlackRock and Centuria on their joint acquisition.
"Having previously advised on the acquisition of The Zenith in 2016, we were delighted to again assist BlackRock and Centuria on the asset's sale," she said.
Centuria’s Head of Real Estate and Funds Management, Jason Huljich said, the sale price was "an outstanding result," reflecting the general strength of the market and Centuria and BlackRock's asset management strategy in enhancing the yield on the property.
Mr Huljich said income returns from the Centuria Zenith Fund have been excellent, "on average 7.7% p.a., which is very attractive in the current low interest rate environment.”
“The strong sale price achieved from The Zenith offers more proof of our ability to identify opportunities in strengthening markets, which allows us to implement our active asset management strategy to make our properties more attractive workplaces for both our existing and prospective tenants.”
“In the time we have owned The Zenith with BlackRock, our asset management teams have worked extremely hard on the property – they have closed 58 leasing deals to take the occupancy to 100% and increase the WALE from 2.5 to 4.3 years.”
“The success of our active management strategy is clear in the significantly increased rents.
"When we bought The Zenith in 2016, market rents were on average $490 per sqm net p.a. and we have recently completed a deal at $685 per sqm net p.a., which is the highest rate ever recorded in Chatswood. This is because tenants recognise the quality of the property and its position as the premier building in its market," he concluded.
<img src="https://www.urban.com.au/images/2019/6/7/Zenith%202.JPG" alt="">
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US giant fund manager Starwood buys Zenith Chatswood for $440 million

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A three bedroom Chatwood apartment with Harbour glimpses recently sold for $2.3 million by mortgagees.
It was listed by First National Real Estate Chatswood.
Perched upon the 37th floor, the <a href="https://www.realestate.com.au/sold/property-apartment-nsw-chatswood-128992202" target="_blank">3701/1 Post Office Lane</a> apartment comes with three bedrooms dining and living areas, sleek open plan kitchen, two chic bathrooms and north facing entertainer's balcony. 
Additional features include video intercom, ducted reverse cycle air-conditioning, and double security parking.
Located in the heart of Chatwood's central business district, it is within close proximity to Woolworths and Chatswood Train Station. 
It last sold at $1.37 million. 
The median price for a unit in Chatswood is <a href="/developments/chatswood-nsw-2067">$1.08 million</a> according to CoreLogic.
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Chatswood apartment sold for $2.31 million by mortgagees

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Goldfields' plans for the development of an 85-unit Chatswood residential tower has been endorsed by Willoughby Council.
The Chatswood development will be a further addition to Goldfields’ growing pipeline in New South Wales.
"Our project in Chatswood will be one of the first approved developments under the Chatswood CBD Planning and Urban Design Strategy, so it is a great opportunity to bring high-quality mixed-use residentialto an area that is demanding it," managing director of Goldfields, Marco Gattino, said.
The new development site is 400 metres from Chatswood Railway Station and Westfield Shopping Centre.
Construction is set to begin September 2020.
"It’s been a challenging 12 months for Australian property, however Sydney’s Lower North Shore is quickly becoming one of the most searched and desired places to live and work in Australia; and I see this trend continuing into 2020," Gattino said.
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Development approval for Goldfields project in Chatswood 

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Following <a href="/news/goldfields-office-development-at-627-chapel-street-approved-by-stonnington">last month's approval of its commercial development at 627 Chapel Street</a> in Melbourne's South Yarra, Goldfields has received further good news with Willoughby Council endorsing its proposal for a 85-unit residential tower in Sydney’s Lower North Shore of Chatswood.

Building on its portfolio of developments along the East Coast, the Chatswood development will be a further addition to Goldfields’ growing pipeline in New South Wales. 
According to Goldfields, the approval of the Chatswood development marked a significant milestone for the company.

<blockquote>
“We’ve established a strong presence in Victoria and spent much of 2018 focussing on our developments in Queensland, so expanding our footprint into New South Wales is an exciting opportunity for Goldfields.

It’s been a challenging 12 months for Australian property, however Sydney’s Lower North Shore is quickly becoming one of the most searched and desired places to live and work in Australia; and I see this trend continuing into 2020.

Our project in Chatswood will be one of the first approved developments under the Chatswood CBD Planning and Urban Design Strategy, so it is a great opportunity to bring high-quality mixed-use residential to an area that is demanding it.”

-  Marco Gattino, Managing Director of Goldfields
</blockquote>

Chatswood is located 8 km north of Sydney’s CBD and the new development site is just 400m from Chatswood Railway Station and Westfield Shopping Centre.

The area is set to undergo extensive upgrades to Sydney’s rail network that will open the city’s Metro Northwest line in the second quarter of 2019, making the site’s walkability, convenience and accessibility a huge selling point for future buyers.

With approval from Willoughby Council, in hand the Planning Proposal will now proceed to the Department of Planning and Environment for Gateway Determination.

Goldfields aims to begin construction in September 2020.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/pbd_pacific_final_1.jpg" rel="gallery-all" title="Goldfields' Chatswood proposal has received the green light from Willoughby Council. Image: Goldfields"><img alt="" class="image-article-full-width-580px" height="700" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/pbd_pacific_final_1.jpg?itok=gMhLL-Fe" title="Goldfields' Chatswood proposal has received the green light from Willoughby Council. Image: Goldfields" width="580"></a>

<figcaption>Goldfields' Chatswood proposal has received the green light from Willoughby Council. Image: Goldfields</figcaption></figure> 
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Laurence Dragomir

Goldfields expands its footprint to Chatswood

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The Zenith, located in Chatswood on Sydney’s North Shore, is to be sold by Centuria and a private fund managed by BlackRock. 
Comprising of two buildings situated on a site of approximately 7,990 square metres, the property has price expectations of over $400 million. 
The Zenith is an A-grade asset with circa 44,102 square metres of NLA set across 21 levels. 
It is 100% occupied and with a WALE of 4.4 years with tenants including Property NSW, Commonwealth Government of Australia, Lendlease and Sage. 
The Zenith is located at 821 Pacific Highway.
Prime office rents are 50% less than similar assets in the Sydney CBD and the soon to be completed Sydney Metro, located within 150 metres of the Zenith will decrease travel time to Barangaroo to about 11 minutes.  
<img src="https://www.urban.com.au/images/2019/2/5/Zenith.JPG" alt="">
The office vacancy in Chatswood is at its lowest levels since 2000 at circa 5.5%, with the vacancy rate expected to fall below 5% by 2020, according to Centuria. 
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The Zenith Chatswood listed with $400 million price expectations

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Global real estate investor and manager Cromwell Property Group (Cromwell) has secured two new leases at its Victoria Avenue, Chatswood CBD complex.
The two-tower complex, comprised of 13 storeys of A-grade office space, is positioned in the heart of the Chatswood precinct.
Cromwell has signed over 1,100 square metres across both new tenants, Sydney North Primary Health Network and Shiji Group.
Sydney North Primary Health Network has leased level five of tower two for six years to 2024, and Shiji Group has leased a spec fitout on level 10 of tower one for five years to 2023.
Bobby Binning, Cromwell head of property, said the recent deals indicated quality, well-managed office space in Chatswood was "hot".
“Chatswood is humming with activity as businesses explore office space beyond Sydney CBD. As market dynamics shift, a major drawcard to the precinct has been the amenity offering and transport options, with theChatswood to Sydenham Metro Rail planned for 2024,” Binning said.
“The position and quality of our Victoria Avenue asset has resulted in continuously high occupancy rates. We are pleased to welcome our two new tenants onsite.”
Cromwell purchased the Victoria Avenue asset in 2006. Under Cromwell’s management, the common areas and all office floors have undergone refurbishment and modernisation.
Earlier this year, Cromwell submitted a Development Application (DA) for an additional low-rise 3,500 square metre premium-grade office building and a 156-room, full-service hotel on the site.
The DA also envisages significant plaza and amenity improvements benefitting all tenants, including new end-of-trip facilities, outdoor, conferencing and dining facilities.
The DA is subject to council approval, with an outcome pending in the coming months.
Commenting on the DA, Binning said following the successful rejuvenation of Northpoint Tower, it is looking to replicate a similar offering for its Chatswood tenants. 
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Shoji Group take Chatswood CBD office lease

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A three bedroom Chatswood apartment has been listed for $2,790,000 by its mortgagee. It last sold for $1,370,000 in 2011.
It was listed by Robert McElhone at First National Regency Realty.
Situated at <a href="https://www.realestate.com.au/property-apartment-nsw-chatswood-128992202" target="_blank">3701/1 Post Office Lane</a>, this home has three bedrooms and two bathrooms.
It is perched upon the 37th floor of Chatswood's Metro Residences with spacious open-plan living.
It includes easily accessible, multiple lifts to the secure double parking.
Its entry foyer is positioned directly opposite Woolworths adjoining the Chatswood Train Station.
The suburb's median house price sits at <a href="/news">$2,277,500</a> according to CoreLogic. 
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