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.

&nbsp;

&nbsp;

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.

&nbsp;

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> 
&nbsp;

&nbsp;

&nbsp;

&nbsp;

&nbsp;

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

New South Wales

<html><body>
The former World Cup winning Wallabies coach Bob Dwyer and his wife, Ruth, have relisted their Southern Highlands retreat with $4.5 million plus hopes.
It was on the market for about $5 million last July.
Two Gates Farm is a 40-hectare property bought at <a href="/news">Robertson</a> as land in 2002 for $865,000.
The Richard Rowe-designed pavillion-style house sits in Annie Wilkes-designed gardens.
There are self-contained guest quarters, a pool and tennis court. 
<a href="https://www.mcgrath.com.au/buy/acreage-rural-robertson-nsw-2577/229083/?searchID=40535526" target="_blank">Hamish Robertson at McGrath</a> has the offering.
The couple will downsize to a three-bedroom house on 2,000 square metres in nearby <a href="/news">Bowral</a> for $550,000. 
</body></html>

jchancellor-FAypfDUnLy

Coach Bob Dwyer relists Two Gates Farm at Robertson

<html><body>
The iconic Bowral tourism property, Milton Park, has been sold to Chinese property interests.
The initial sale, including the business, was speculated at around $20 million.
The 11 hectare land transfer came in at $13 million, to Yufan Australia Pty Ltd, a company directed by Jianjun Yu and Guangxun Fan.
It last traded in 1998 when Aman Resorts supremo Adrian Zecha sold it to the Dobler family.
Milton Park, the Edwardian-style 1910 guesthouse in amazing gardens, has been internationally acclaimed. The Relais et Chateaux Group once accredited it as one of the top 50 country guesthouses in the world.
<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/2014/06/27/milton%20park_0001_2.jpg.jpg" alt="">
The sale of the <a href="https://www.milton-park.com.au/" target="_blank">Milton House country house hotel and spa </a>represents the beginning of another new era for the property, although it is understood the existing Dobler family management will continue, complicating the sale price.
The Dobler family have retained substantial neighbouring holdings.
The Hordern family, of retailing renown, established Milton Park near Bowral in 1910 as their large private pastoral holding.
<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/2014/06/27/milton%20park_0002_3.jpg.jpg" alt="">
The residence, built in the style of a Federation homestead, now has 60 deluxe suites and rooms on the 20 acre estate.
The Dobler's had operated the Kirkton Park Country House Hotel before their late 1990s acquisition.
<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/2014/06/27/milton%20park_0003_4.jpg.jpg" alt="">
</body></html>

Bowral's Milton Park sale confirmed to Chinese buyer

<html><body>
Cessnock, in New South Wales’ Hunter Region, is a town 52 kilometres west of Newcastle.
According to the Australian Bureau of Statistics, the area had 50,840 residents as of 2011, with 20,901 homes. The area’s median weekly household income is $1,042, with median monthly mortgage repayments of $1,517.
Like other mining towns in the area, Cessnock has seen its primary industry, coal, largely move north. Other primary industries in the area include the wine industry, which in the Hunter Valley employs over 7,000 people, according to the Cessnock local government.
Tourism is another big industry for Cessnock, with the local government estimating that the Hunter Region’s wine tourism industry is worth $521 million, with subsequent investment and spending worth around $227 million. Finder.com.au <a href="/expert-insights/investing/the-top-10-holiday-hotspots-finder-com-au">listed Cessnock at the top</a> of its investment holiday hotspots list for houses this year, after the city showed the highest yield for houses of any of Tripadvisor's Top 10 Traveller's Choice Best Destinations in AUstralia. 
Facing a downturn in employment due to changes in the coal industry, the Cessnock local government is focussing on long-term, sustainable businesses to limit the area’s exposure to volatile industries.
Infrastructure investments, particularly transport links to nearby employment hubs like Newcastle, are hoped to attract businesses and residents to Cessnock. However, those infrastructure investments will come at a price, with Cessnock council rates to rise <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2014-06-04/resident-angry-over-rate-rise/5498710" target="_blank">9.55% permanently from 1 July</a>.
Some residents have taken a strong stance against other resource industries entering the area, with many, including the local government, refusing to support coal seam gas related activities in the region.
According to a 2013 study commissioned by the Valuer General of New South Wales, in New South Wales areas where coal seam gas mining occurred, there was no evidence of an impact on property prices. However, the report also stated that the poor availability of data limited the study’s conclusions.
The report also stated that “anecdotal evidence indicated that in some areas negative perceptions of CSG led to a reduction in the number of potential purchasers and an increase in the time taken to sell properties.”
Property Observer spoke to Australian Property Monitors’ senior economist, Andrew Wilson, about the area <a href="/news/nsw/suburb-spotlight-cessnock-over-2014">late last year</a>. He said the area had seen 4% price growth in the past year. 
“Given that there’s some dollar recovery in the resources sector, Cessnock will continue to be a reasonable performer into 2014,” he told Property Observer. <a href="/news/nsw/suburb-spotlight-cessnock-over-2014"></a>
Jurd Real Estate principal Alan Jurd said in November that the downturn in the mining sector had “taken the zing off [the property market] a little.” He also told Property Observer that vacancies were up, after a period of unsustainable rents.
He now says that the effects of the resources downturn on the rental market have started to filter through to the investment market.
“There was a bubble in the rental market, which wasn’t real,” says Jurd.
“There were some properties that were really inflated.
“A new four bedroom, double garage, 250 square metre home: at the peak of the market, you could get $500 or $600 for that. Four years ago, it was $400 a week.”
According to Jurd, now that the mining industry has moved on, as have work crews from the Hunter Expressway, vacancies are up.
A <a href="https://www.realestate.com.au/property-house-nsw-cessnock-413443651" target="_blank">new four bedroom home</a> at Cessnock’s Stonebridge Golf Estate, pictured below, is now available to rent for $400 per week.
<img src="/images/2014/06/26/cess.jpg" alt="">
Jurd says that some investors were lured in during the rental bubble by property spruikers, who advertised inflated yields. But he says that the area is a sound investment for those with realistic long term expectations.
According to Jurd, the new Hunter Expressway may deliver demand from Newcastle residents.
“The driving time to Newcastle is so much faster,” he says. “So we’re getting some interested from that area, which we never really had before.”
The median house price for the Hunter region is $268,000. For Cessnock, the median house price is $258,000.
 Feature picture courtesy of Ian Armstrong/<a href="https://www.propertyobserver.com.au/https://creativecommons.org/licenses/by-sa/2.0" target="_blank">Creative Commons</a>.
</body></html>

jrichardson-uRX5hFdKfN

Suburb spotlight: Has Cessnock’s bubble burst?

<html><body>
The Hong Kong-listed development company, Country Garden has emerged as one of the Chinese companies to have expressed interest in buying Harry Triguboff's Meriton.
Country Garden Australia chief executive Johnson Zhang said the group had held preliminary discussions with Mr Triguboff, the Australian reported today.
The reported Country Garden approach was to buy, at least, part of his $6.25 billion Meriton apartment empire.
“We have met him; we have had discussions with him over this. But it is only in the pre­liminary stage. We might be looking for someone else. We are not sure yet,’’ Mr Zhang told the News Ltd paper.
The Chinese property development company bought their first Australian development site in late 2013 at North Ryde. 
The Global Business Park, 63-71 Delhi Road, had approval for a four building commercial development but Jones Lang LaSalle sold the Goodman Group site with potential for the developing 830 apartments.
Country Garden is a property development company based in Guangdong Province, China, owned by Yang Guoqiang's family. It focuses on building high-end residential property.
Founded in 1992 and listed on the Hong Kong stock exchange since 2007, it is controlled by China’s richest heiress, Yang Huiyan.
Wanting to become a major developer in Australia for the long term, Mr Zhang told The Australian the group preferred suburban sites which could sustain large garden areas.
Their newly released Ryde Garden development (pictured above) is a trio of buildings each have its own rooftop garden.
Bates Smart Architects designed 830 apartments for Country Garden’s first Australian project, on a site 50 metres from North Ryde train station. 
<a href="https://www.cpmrealty.com.au/Buying/Search/Detail.aspx?id=3626&amp;wlid=5ad6e8b1-b411-435b-a832-4cc784d50cce" target="_blank">They are for sale through CPM Realty agent Sam Elbanna</a> and JLL with a 2017 completion date, subject to final council approval.
The off the plan begin on Saturday 28 June 2014, conducting the sales day at the Four Seasons Hotel in Sydney’s CBD.
<div title="Page 1">
<div>
<div>
<div title="Page 1">
<div>
<div>
One, two and three bedroom apartments in buildings A and C - which are two of three proposed towers in the new Ryde Garden community, will be on sale.
</div>
</div>
</div>
</div>
</div>
</div>
</body></html>

Ryde Garden debut for Country Garden Australia

<html><body>
The NSW real estate industry is in conflict over proposals to deregulate the state’s commercial property services sector.
The proposals form part of draft regulations put forward to replace the Property, Stock and Business Agents Regulation 2003, which will lapse on 1 September, 2014.
The Shopping Centre Council of Australia is calling for the removal of licensing requirements for agents dealing with large commercial properties.
“From our point of view it’s classic red tape. It’s dumb, counterproductive regulation,” SCCA deputy director Angus Nardi told Property Observer.
The SCCA argued in its response to consultation on the proposals that the regulations aimed to protect consumers in residential property transactions and were largely irrelevant to major commercial property owners that were big enough to protect their own interests without regulatory assistance.
Nardi said ‘consumers’ in the case of large commercial property transactions were professional organisations such as Westfield Group, AMP Capital Shopping Centres, and Real Estate Investment Trusts rather than individual consumers or small businesses.
But Real Estate Institute of NSW president Malcolm Gunning said removing the licensing requirements would hurt tenants in major shopping centres.
“It’s taking away that level of accountability and responsibility. The Shopping Centre Council’s argument is that it’s not required because [the consumers] are sophisticated but we question that level of sophistication ... Tenants will be more exposed to the dealings of major shopping centres,” Gunning said.
He added it would be difficult to determine where the line should be drawn on which agents needed to be licensed and which did not.
The SCCA proposed that agents should not have to have a license if they were dealing with commercial property worth more than $10 million or that was more than 10,000 square metres in floor space. Agents that were related to the property owner should also not have to be licensed, it argued.
Such exemptions would save an estimated $4 million a year in compliance costs, but affect only 629 commercial buildings in NSW, the SCCA said.
Nardi argued that if licensing requirements for commercial agents were cut, tenants would still be protected by the Retail Leases Act, while owners of small commercial properties would be covered by the new Property, Stock and Business Agents Regulation as they would not be considered sophisticated investors.
But Gunning said some areas fell outside the remit of the Retail Tenancies Act, such as holding deposits, and tenancies that applied to offices within retail shopping centre.
“The deregulation of commercial property agency work would be going further in the wrong direction and would be counterproductive for consumer protection in the commercial space,” the REINSW said in its submission to the consultation.
REINSW said existing licensing requirements were “grossly inadequate” and should be remodelled based on the stricter regimes that applied in the Northern Territory, South Australia and Tasmania.
The SCCA said Queensland’s regulations already exempted large commercial properties and Victoria’s government has agreed in principle to a similar system, and that NSW should follow the lead of those states.
NSW Fair Trading plans for the updated regulation to commence on 1 September, 2014. Consultation on the Regulatory Impact Statement closed in mid June.
</body></html>

zfielding-GvX3Uq9KTa

Industry conflicted over NSW's proposed commercial property services deregulation

<html><body>
Botanical artist Cherie-Christine Curchod and partner Rob Curchod have sold their water access only Pittwater retreat, Le Haven.
Listed for sale with an asking price of $1.2 million, it fetched $1.15 million when bought by environmental scientist, Dr Marcus Lincoln-Smith.
The 1950s cottage at Coasters Retreat was last traded in 2006 for $1.04 million.
With its French provincial style, the two bedroom cottage featured in the November 2011 issue of Country Style magazine.
The 700 square metres property had been<a href="https://kathrynhallrealestate.com.au/listings/id-5083-sold-sold-sold" target="_blank"> listed through Kathryn Hall of Kathryn Hall Real Estate</a>. 
They have bought at Palm Beach for $1.07 million, buying a property initially listed in late 2011 with $1.8 million hopes.
</body></html>

Artist Cherie-Christine Curchod's cottage Le Haven, Coasters Retreat sells

<html><body>
The Block television personality Shelley Craft and her estate agent husband, Christian Sergiacomi, are now auctioning their Byron Bay hinterland home, The Rise.
<a href="https://www.byronbaypropertysales.com.au/listing-71213-The-Rise" target="_blank">The tropical five bedroom, three bathroom hideaway </a>sits on 6,100 square metres at Ewingsdale in the hinterland.
It has been home to The Block co-presenter and husband, known as Serge, who has been a cameraman on The Block, since they bought it in 2010 for $1.61 million.
The couple have been reported by Fairfax Media's Domain as seeking equestrian acreage, but Property Observer gleans they recently spent $2.05 million on an 8,050 square metre property at neighbouring McLeods Shoot, a substantial discount as it had been initially listed for sale at $3.5 million-plus in 2010.
The couple are busy building on the property which was long owned by the McGettigan pioneering family who who first settled in Byron Bay in 1882.
The forthcoming five-bedroom 5 July auction Ewingsdale offering, which has views over Byron Bay, was renovated only recently. 
Craft describes its as raw and eclectic, with a plantation/tribal style. She brought in the team at EcoChic, the Gold Coast-based interiors company that specialises in furniture and homewares sourced from environmentally sustainable, fair trade practising suppliers, to help style and furnish her home. 
It has around 290 square metres floor space.
Jeremy Bennett, of Byron Bay Property Sales, is reportedly expecting more than $1.5 million at its 5 July auction, so property pundits will be interested to see if the professional duo can turn a profit.
Title Tattle gleans The Rise property has actually been for sale since January 2013 when it came with $1.85 million price expectations.
The prior owners took 10 months to sell having tried initially for $1.99 million.
Craft and Sergiacomi were married in 2009 at their prior house in the Byron Bay district.
In 2008, Craft signed with Nine taking over at Australia's Funniest Home Videos.
She began as co-host on the lifestyle series, Domestic Blitz alongside Scott Cam in mid 2008. Her time on The Block began in 2011.
In August 2010 Craft gave birth to her first child a baby girl, Milla Grace, with their second daughter, Eadie Rose born in June 2012.
They also have a puppy, Aldo since late last year.
The entrepreneurial couple also operate a tech business following the launch of The Builder App, an online trade directory.
It helps find trades people for home renovators, derived from their observation of struggling contestants on the Channel 9 renovation series. The couple collaborated on the app with Wategos builder, Max Iacopetta.
</body></html>

Inside The Block's Shelley Craft Byron Bay hinterland auction offering, The Rise

<html><body>
Many numbers have been thrown around since the announcement of the budget, including <a href="/expert-insights/building/nsw-first-home-buyers-can-buy-up-to-750-000-under-extended-fhog">changes to first home buyer grants</a> and <a href="/expert-insights/investing/foreign-buyers-to-be-denied-nsw-new-home-owners-grant">who can access the new build grant across the state.</a>
However, there were also many decisions made that affect the physical future of Sydney and its surrounds. We've picked out some of the spending and locations that investors in Sydney will want to know about.
WESTERN SYDNEY
$83 million
Committed funds from the Department of Planning &amp; Environment to support new homes in Western Sydney. Expected to be the region accounting for almost half of Sydney’s growth in the next two decades.
$60 million
Provided to Western Sydney councils to deliver the infrastructure to support the new housing development. Committed under the Local Infrastructure Growth Scheme.
$13 million Provided for infrastructure in Western Sydney Growth Centres under the Special Infrastructure Contributions.
$166 million
Key infrastructure upgrades to support Western Sydney and other areas (part of the $483 million Housing Acceleration Fund).
KEY QUOTES:
“The $60 million being provided this year through the Local Infrastructure Growth Scheme will help new homeowners in Western Sydney by funding the cost gap between contributions from developers and actual costs for council-delivered infrastructure for new housing development." (Minister for Planning Pru Goward)
“This allows councils to deliver local infrastructure at the same time as new homes are built, keeping home prices down and helping boost supply by easing the pinch points which can slow new housing development." (Minister for Planning Pru Goward)
NORTH WEST SYDNEY
$40 million
For the next two stages of the Schofields Road upgrade. Will support approximately 10,450 new homes in the North West Growth Centre. (Included in the $166 million allocation)
$30 million
For the next two stages of Richmond Road. Will support approximately 16,200 new homes in the North West Growth Centre. (Included in the $166 million allocation)
SYDNEY CITY
$43 million
Provided through the Sydney Harbour Foreshore Authority to develop the Sydney International Convention, Exhibition and Entertainment Precinct.
$25 million
Provided through the Sydney Harbour Foreshore Authority for a number of cultural heritage improvements, including public domain in The Rocks and Darling Harbour, constructing pedestrian and cycle network opening up Railway Square to Darling Harbour (to be known as The Goods Line).
GENERAL ALLOCATIONS
$12 million
In grants to local authorities to upgrade local infrastructure and create urban environments within specific Urban Activation Precincts. To be followed up with $24 million in 2015/2016 for phase one, and $50 million over 2015/2016 and 2016/2017.
$22 million
To make planning simpler, these funds have been committed to roll out ePlanning ($8.5 million was invested in 2013/2014 for this). It will allow you to lodge DAs online and view information in a map-based format.
KEY QUOTES:
“Just as smart phones and apps have completely changed the way we live and work, so too ePlanning will transform the way families and businesses will interact with the planning system in NSW.
“Components will be brought online in stages over the coming year, and when fully functional in 2015 users will be able to see the full suite of planning policies and regulations that apply to individual lots.
“The impact this will have on those considering a property purchase, a renovation or build will be enormous, reducing hours of paper-based work to literally minutes spent online." (Minister for Planning Pru Goward)
The Urban Taskforce has noted confidence in the anticipated infrastructure, noting some of their highlights include these two:
$400 million towards the Parramatta light rail.
$265 million of CBD and South East light rail funding. “There is no funding allocated for the recently announced Greater Sydney Commission although the $11 million allocated to planning reform could help set this up. Funding continues for the Planning Assessment Commission and the Joint Regional Planning Panels at $8.5 million so they presumably continue within the framework of the proposed Commission," said Urban Tasforce CEO Chris Johnson. 
Picture courtesy of Janet Ramsden/Flickr/<a href="https://creativecommons.org/licenses/by/2.0/" target="_blank">Creative Commons</a>.
</body></html>

jduke-EHk3XBmHkn

Shaping Sydney: The NSW state budget spending numbers to know

<html><body>
There were no loss making property sales detected in just the three Sydney municipalities during the March quarter, according to the latest <a href="https://www.myrp.com.au/">RP Data</a> Pain and Gain report.
They were Marrickville, Botany Bay and Hunters Hill.
The highest volume of loss-taking was the 7% that sold for less than last time in the Wyong municipality where the typical loss was $40,000, followed by the 6.7% in the Pittwater municipality were the typical loss was $60,000.
The biggest losses were taken in the neighbouring Warringah municipality at a typical $437,500 drop.
None of the 43 municipalities secured gains well in excess of the biggest loss, with the biggest being a typical $400,000 gain in Hunters Hill and a $337,500 gain in the The Hills Shire.
<div class="page" title="Page 6">
<div class="section">
<div class="layoutArea">
<div class="column">
Only 3% of homes re-sold over the March 2014 quarter in Sydney sold for less than their previous purchase price, down from 6.9% 12 months ago and at its lowest level since December 2003. 
All regions had less than 8% of all re-sales at a loss over the quarter.
Click to open in new window: 
<a href="/images/2014/06/17/pain-june-17-two.gif" target="_blank"><img src="/images/2014/06/17/pain-june-17-two.gif" alt=""></a>
Source: RP Data
</div>
</div>
</div>
</div>
</body></html>

Marrickville, Botany Bay and Hunters Hill property vendors avoid losses

<html><body><div class="story-intro">
Foreigners’ access to the $5,000 New Home Owner Grant will be scrapped in ­tomorrow’s state budget.
Foreign investors have been able to secure $5,000 for each new home purchase. They represented 1.3% of the scheme's take-up.
The decision, heralded in today's Daily Telegraph, follows <a href="https://www.dailytelegraph.com.au/realestate/buying/foreign-buyers-are-cashing-in-on-nsws-new-home-grant-scheme/story-fni0cate-1226817098977" target="_blank">a campaign by the The Daily Telegraph since February</a> which secured the support of Opposition Leader John ­Robertson.
The grant will be only available to individuals who are Australian citizens or permanent residents.
The Telegraph's state rounds reporter Andrew Clennell published previously unavailable data that showed some $2 million has been paid out to non-residents.
“We’re all about making sure these grants help those in our own backyard,” NSW Treasurer Andrew ­Constance told the News Ltd audience.
Since the New Home Owner Grant scheme was instituted in July 2012, there have been 429 ­recipients who are non-residents — or 1.3% of recipients.
The figures come despite NSW Premier Mike Baird expressing recent concern about the lack of official information on foreign investment residential purchases in NSW.
His concerns were made to <a href="/expert-insights/investing/nsw-treasury-in-the-dark-with-firb-foreign-buyer-data">the House of Representative inquiry into foreign ownership of residential property</a>.
The scheme began after the government scrapped first homeowner grants for existing properties and raised them for newer properties.
There have also been a small number of multiple applications.
From now on the New Home Grant will be restricted to one grant per person per year.
Opposition Leader John ­Robertson called in February for the government to change the New Home Grant scheme.
“The O’Farrell Liberal government is paying $5000 to overseas property investors to buy homes and land in Australia – that’s money taken straight out of the pockets of young first home buyers,” Opposition Leader John Robertson said at the time on the then O'Farrell government policy.
“Young couples doing the right thing and working flat-out to save for that deposit are paying the price for the O’Farrell Liberal government’s bungling of this scheme."
Last week John Robertson noted ABS figures showed that just 1,099 first home buyers received financing to purchase a home in April 2014 – down from 1,191 in March 2014 and less than half the level of the 2,415 who received financing in March 2011 before the Liberals came to power.
“Mike Baird has been patting himself on the back over the weekend for extending the threshold for first home buyers purchasing new properties – the ABS has confirmed that he is locking more young families out of owning their own home.
“First home buyers now represent only 7.6% of the NSW housing market – they have plummeted from 18.3% share of the market in March 2011."
The Shadow Treasurer Michael Daley accused the government of giving a leg up to overseas speculators – "and people buying their second, third or tenth property."
The grant is paid as a discount on stamp duty for properties worth up to $650,000 and vacant land worth up to $450,000. 
<a href="/expert-insights/building/nsw-first-home-buyers-can-buy-up-to-750-000-under-extended-fhog">The grant will be extended to new home purchases up to $750,000 in another pre-budget advisory</a>. 
The prospect of overseas non-citizens buying up newly built houses and apartments in bulk - all receiving multiple $5,000 grants under the NSW New Home Grant Scheme - was alarmingly raised in the Daily Telegraph.
<a href="/news/stay-calm-local-buyers-dominate-in-sydneys-sutherland-shire">It was wrapped within the now refuted suggestion that these Chinese investors were keeping first home buyers out of the property market</a>.
 
 
</div></body></html>

New South Wales

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

New South Wales

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News