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

Office

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WeWork is set to further expand its Sydney holdings after securing 11,000 sqm of space in a 12 year leasing deal.
The tenancy negotiated by JLL and Knight Frank marks WeWork’s first lease with building owner ARA Australia.  
JLL’s Justin Hayes, Director, Office Leasing – NSW, and Alex Wong, Director, Office Leasing – NSW, managed the deal on behalf of ARA Australia. 
Rohan Neville, Head of Asset Management at ARA Australia, said, “320 Pitt Street provides a unique accommodation solution for WeWork with a dedicated ground-floor entry and exclusive use of the low rise of the building.
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The 32-storey A-grade building has a net lettable area of 29,000 sqm.
Major upgrade works are underway and include an expanded new lobby and end-of-trip facilities. 
Tina Raftopoulos, Director, Office Leasing at Knight Frank, said: "The floor plates at 320 Pitt Street have natural light on all four sides and the column-free, efficient space enhances the options for vertical connectivity throughout the 320 Pitt Street WeWork facility.”
The building is close to Museum station, the new light rail route along George Street and the future Pitt Street Station on the Sydney Metro rail network. 
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j.ballantyne1990-6AQqhLzZaK

WeWork lease further 11,000 square metres of Sydney CBD office space

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Global flexible workspace provider, Compass Offices, has leased an entire floor at Dexus’s 141 Walker Street in North Sydney through Colliers International.
The group signed a long-term lease across 950 square metres commencing Q3 2019. 
“Compass decided to take space in North Sydney due to the location of 141 Walker Street – the existing A Grade building will benefit from increased amenity flowing from the regeneration of the North Sydney office market, including the new Victoria Cross Metro Station currently under construction,” said Dan Walker, Director-In-Charge of Colliers International, North Sydney.  
“Furthermore, North Sydney is seen as a viable and more affordable alternative to the Sydney CBD.”  
Currently, A grade rents in North Sydney are around $800 per sqm. 
Sami Schiavi, Flexible Workplace Specialist at Colliers International said, “Companies such as Compass are responding to increasing demands for flexible workspace, which has experienced a 47% growth rate in Sydney, including the fringe and North Sydney markets, compared to 2018.” 
Andrew Rothstadt, Compass Offices’ Australian Country Manager said, “North Sydney has been a target growth area for us for some time and we are delighted to be bringing Compass Offices to the Lower North Shore.”
Other flexible space providers that have also taken space in North Sydney include WeWork at 50 Miller Street, and Victory Offices at Dexus’s newly developed 100 Mount Street, while another group JustCo is actively looking. 
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Compass Offices lease entire office floor in North Sydney

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Construction has started at Canberra’s first zero emission office building.
The 13,200 square metre ACT Government Office building will source its heating, cooling and ventilation needs from 100% renewable electricity.
The building, being constructed by Doma, is part of the DKSN precinct in Dickson and is scheduled to be completed in 2020.
Doma Development General Manager, Gavin Edgar said the Dickson office building will be the first in the ACT to use an all-electric system for its heating and cooling.
“The ACT Government’s commitment to climate change leadership will see 100 per cent of the ACT’s electricity sourced from renewable electricity from 2020,” Edgar said.
“We have worked with the ACT Government, as the anchor tenant for 20 years, and our consulting engineers, Rudds, to design the building with an all-electric heating, cooling and ventilation system rather than a gas fired system.
“Traditionally, chillers have only been capable of providing chilled water which helps cool the building and then a gas boiler is required to provide heating.
“The solution being adopted for Dickson provides both heating and cooling for the building using a combination of water cooled and air cooled heat pump chillers which have the capability to reverse their mode of operation and provide either chilled water of heating hot water.”
Edgar said while all electric technology has been implemented in other countries, it has not been substantially tested in climates similar to Canberra’s.
“Temperatures in the ACT vary significantly over the year from season to season, so we have had to cater for this,” Edgar said.
“The chiller arrangements have been optimised to manage the peak heating loads in winter and cooling in summer, as well as handle the shoulder seasons where simultaneous heating and cooling is required.
“To help improve thermal comfort, radiant slab heating has been adopted in the ground level entrance lobby and atrium which will improve the amenity of members of the public visiting access Canberra. 
“Additionally, a large array of solar roof panels are being installed to generate power and help keep electricity bills down.
“The building’s innovations will not only produce an environmentally friendly, zero emissions building in line with ACT Government policy of having 100 per cent of the Territory’s electricity sourced from renewable electricity, it will demonstrate the feasibility of this technology to industry in Canberra and to the wider community.”
ACT Minister for Climate Change and Sustainability Shane Rattenbury said: “This is an excellent initiative, and I congratulate Doma for rising to the zero emissions challenge. Zero emission commercial buildings are both technically feasible and highly cost effective.
“Doma and the ACT Government are demonstrating that new commercial buildings can be gas-free, and it lays down the challenge to others in the industry to match this climate-friendly standard.”
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Construction starts at Canberra's first zero emission office building

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A private investor is offering a Surry Hills creative office conversion on the Sydney city fringe.
Previously operating as the Sydney Technical College, it has hit the market for the first time in over 30 years.
It operated as the STC from the 1950's to late 1980’s.
Following the departure of the latest occupier, Chef’s Warehouse, the property has undergone a multimillion-dollar refurbishment.
CBRE’s City Fringe Team of Gemma Isgro, Nicholas Heaton and Nick Wheatley have been appointed to market the 970 sqm space at 111-115 Albion Street.
<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/2019/6/13/A.04-FIRST%20FLOOR.jpg" alt="">
Ms Isgro stated, "the property’s B4 Mixed Use zoning allows for a range of uses, however, we believe the highest use will be creative office space, given the unprecedented demand in areas like Surry Hills where we are seeing A-Grade rents achieve up to $1,100 per square metre, gross." 
“The former warehouse has been architecturally designed by renowned architect ACME to accommodate open-plan workspace while paying homage to the building’s industrial past,” she said.  
The property spans three levels featuring windows on three sides and a rooftop garden.  
“The building would make a great headquarters for a creative firm or provide an incoming investor with a strong and stable income, underpinned by blue-chip real estate,” Mr Heaton said. 
111-115 Albion Street is being offered for sale via an expressions of interest campaign closing Wednesday, July 3, 2019.
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Former Sydney Technical College premises offered after 30 years

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Australian Radio Network (ARN) have relocated their Brisbane office into Kings Row Office Park in Milton after committing to a 12-year lease for 1,158sqm. 
Owned by the Shayer Group, Kings Row is one of Brisbane’s premier commercial precincts, comprising four A-Grade office buildings with onsite amenities such as a tennis court, swimming pool, BBQ, conference facilities, high quality end-of-trip facilities and secure basement parking. 
Colliers International Tenant Advisory represented ARN in their negotiations to relocate to Kings Row.
Colliers Leasing was in conjunction with Cushman &amp; Wakefield acted on behalf of the Shayer Group. 
“ARN had outgrown their Stones Corner office and have chosen Kings Row as the new location due to the Brisbane City and River views, quality of office accommodation, accessibility to local amenity and public transport,” said Simon Crouch, Head of Tenant Advisory at Colliers International.  
“The lease agreement also includes rooftop signage, which provides excellent brand exposure for ARN considering the building faces the busy Coronation Drive,” said Bo Veivers National Director of Office Leasing at Colliers International. 
The office park currently offers refurbished and fitted tenancies ranging from 200sqm to 5,000sqm which are marketed between $500-550 per sqm. 
“The opportunities of 1,000sqm or greater of A grade office space in the metro market are limited,” said Mr Veivers.
The Kings Row buildings feature 2,200sqm floorplates, some of which are still available.  
“Milton’s office market has seen great improvement over the last 12 months, backed by stronger leasing activity than we have seen in previous years.
“Total office vacancy in Milton is currently sitting at 21.5%, per the figures released from the Property Council of Australia in February 2019.”
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ARN relocates to Kings Row Office Park

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A 150 square metre commercial property located just metres from Toorak Road in the heart of the Toorak Village has been listed for sale. 
Raoul Salter and Michael Gross from Gross Waddell have the listing. 
Situated on a 90 square metre block in a corner location, the property at 60 Ross Street include 1+1 year lease term from November 2018. 
<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/2019/6/13/toorak%202.jpg" alt="">
It has been leased to Alpha Chiropractic for $39,922 per annual. 
It was marketed as having "great bones."
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Toorak Village commercial space leased to chiropractor for sale

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One of Adelaide’s premier office and carpark landmarks, 80 Flinders Street, has been listed for sale.
Completed in 2006 and comprehensively refurbished in 2019, the 12,154 square metre office building is located on a 4,387 square metre site.
It is 100% leased to industry leading tenants, including BAE Systems, IAG and Beach Energy, providing a WALE of 4.78 years.
The multi-deck car park, consisting of 694 spaces, is leased to Wilson Australia.  
CBRE and Knight Frank have been appointed to market the property on behalf of Lendlease's Australian Prime Property Fund Commercial. 
Thomas said South Australia’s strengthening economy was providing a platform for greater investment in the state. 
"Investment confidence in the state continues to rise, with investors increasingly attracted to the state’s diverse and sustainable economic base, which is unlike the boom/bust market cycle experienced in other states," Thomas said. 
"South Australia is in a growth phase, which is having a positive impact on office space demand – and subsequent investment in the sector. We’re seeing increased activity in range of sectors, including defence, resources, technology, education, and healthcare."
<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/2019/5/21/80%20Flinders%20St.jpg" alt="">
Bennett said the asset would command wide appeal from buyers seeking 100% leased and multi-tenanted office buildings with a WALE of 4.78 years by income (as at 1 August 2019). 
"80 Flinders Street is one of the most desirable office towers in Adelaide and boasts the highest car park ratio for an office building in the CBD," Bennett said.
The floor plates are greater than 1,070 square metres, which is very popular in our market.
The asset also boasts two super floors of over 3,200 square metres each, which are the largest in Adelaide. In addition, an opportunity exists on level one, where the existing carparks can be converted to office space, adding approximately 1,000 square metres. 
Offers for 80 Flinders Street close June 20.
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Lendlease property fund to sell Adelaide office and carpark complex

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An adjoining owner has snapped up a significant office property in Forest Hill for $45.85 million as demand for commercial assets in metropolitan Melbourne continues. 
Colliers International’s Rob Joyes, Peter Bremner and Rachael Clohesy have negotiated the sale of 347-351 Burwood Highway in Forest Hill on behalf of a long-term Sydney based private investor.  
The 2.62 hectare Commercial 1-zoned site, which is home to two office buildings with a combined net lettable area of approximately 10,692 square metres, changed hands on a passing yield of circa 4%. The property was purchased from an offshore investor.  
“This purchase also represents the largest metropolitan office investment to transact so far in 2019,” Bremner said. 
The property was approximately 70% occupied at the time of sale with a weighted average lease expiry of approximately 3.4 years.
“Over the past two years, over $180 million of office investments have transacted within the Tally Ho Business Park precinct,” Joyes said.  
“Office investors are taking a long-term view of the Outer East market with a particular interest in land with existing Zoning flexibility and are anticipating land values will increase significantly in the years to come off the back of State Government investment such as the Suburban Rail Loop and Vicinity’s transformation of The Glen shopping precinct.” 
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The Outer East office market has bounced back after a period of high vacancy, Colliers International said.
Its latest Metro Office Research &amp; Forecast Report states that vacancy is currently at 8.74% in the Outer East, which is below the long-term average of 9.56%. 
“Due to the tightening of vacancy in the City Fringe and Inner East markets, tenants view the Outer East as a more affordable option,” Joyes said. 
Significant recent sales within the precinct include:
<ul>
<li>VicRoads, 12 Lakeside Drive, Burwood East - $25.5 million </li>
<li>Hewlett Packard, 353 Burwood Highway, Forest Hill - $88 million</li>
<li>CFA, 16 Lakeside Drive, Burwood East - $9.6 million </li>
<li>CFA, 8 Lakeside Drive, Burwood East - $18.08 million</li>
</ul>
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Investment continues in Forest Hill with $45.85 million office sale

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An inner-city warehouse at South Yarra in Melbourne’s inner east, which had a $3.3 million asking price after its recent auction, has been sold for $2.75 million.
Located directly opposite the Como Centre and Vogue Plaza, the 56 River Street property, comprises a single level, 235 square metre brick building on a 324 square metre site zoned Activity Centre 1.
The 56 River St property is a 250 square metre building on 371 square metres, with two frontages and on-site parking.
It has street and laneway access as well as on-site parking.
According to marketing agents, Teska Carson’s Luke Bisset and Matthew Feld, the property offered an owner-occupier opportunity and/or office conversion or development opportunity.
"The purpose of Activity Centre zoning is to encourage a mixture of uses and the intensive development of the activity centre as a focus for business, shopping, working, housing, leisure, transport and community facilities, and to deliver a diversity of housing at higher densities to make optimum use of the facilities and services," the agents said during its marketing.
The property will be sold subject to a short term lease at $50,000 per annum net. 
The warehouse last sold for $3.75 million through Teska Carson in 2016 to an intending owner-occupier reflecting $10,135 a square metre.
At the time the premises had a short-term tenant returning $44,950 a year.
It had sold at $82,000 in 1977.
It has been offered by the Williams family from South Yarra.
The family is headed by Lyn Williams, who has managed the estate of the artist Fred Williams, and is executive director of Maraquita Pty Ltd, the family company.
 
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jonathanchancellor-7SQnKwU6yx

Big loss taken on South Yarra warehouse

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Now boasting one of the lowest vacancies in the country, the Newcastle CBD was set to continue an upward trajectory of employment growth to keep absorption positive and vacancies down, according to Ray White’s latest <a id="LPlnk553254" href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39TeBE+PJIXQEQIMSnTrWz0TmO1dfR40f4SWaoO3QxM8H3Q+khB+l1qzeMb8gNN6Ua1vvrnjkjC2i3AHZbZ3OaE9&amp;rh=ff0049c528c38664c4da5114824383adad9e5c8a" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">Between the Lines</a> report.
“The investment into the Newcastle CBD by local government is starting to bear fruit,” said Ray White Commercial Newcastle Director Lee Follington.   “The initiatives to activate this market and make Newcastle a vibrant CBD has come to fruition, with new development and revitalisation of older stock out of the market, which has resulted in the vacancy declining.   “The upshot for investors in the market is the first signs of significant rental growth for prime assets, with the secondary market still lagging.   “But, yields have slightly risen given the increased difficulty in financing, reducing the pool of buyers of smaller commercial holdings.”
<a href="https://www.propertyobserver.com.au/images/2019/4/11/newcastle%20office%201.jpg" target="_blank">Click here</a> to enlarge:
<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/2019/4/11/newcastle%20office%201.jpg" alt="">   Mr Follington said demand for Newcastle CBD office stock continued, recording its third consecutive year of positive net absorption   “Take up during the 2018 calendar year has totaled 2,065sq m, resulting in the continuation of vacancy decline,” he said.   “This period, downward vacancy was further assisted by the reduction in stock levels with net supply of just -2,818sq m, due to the withdrawal of several smaller properties for residential conversion.   “This continual reduction in stock levels has seen the Newcastle CBD office market record just 251,138sq m of stock, its lowest level since 2014.”
<a href="https://www.propertyobserver.com.au/images/2019/4/11/newcastle%20office%202.jpg" target="_blank">Click here</a> to enlarge:
<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/2019/4/11/newcastle%20office%202.jpg" alt="">   Mr Follington said the demand for prime stock had been high this last year, resulting in large contractions in vacancies, this had a positive effect on the rental market which had shown a sizeable increase after a long-term period of stability.   “Net face rents currently average $355/sq m which represents a 5.97 per cent increase over the last 12 months, the limited supply of A grade stock has aided in this increase, with some smaller tenancies achieving rents in the $400/sq m to $450/sq m range,” he said.   “Currently, the average net face rent has recorded $250/sq m, which is up 2.04 per cent over the last year. That’s well ahead of the growth achieved in the prior five years.”   Ray White Head of Research Vanessa Rader said the Newcastle market was currently enjoying long-term lows with direct vacancy recorded at just seven per cent, well below most Australian CBD and suburban markets.
<a href="https://www.propertyobserver.com.au/images/2019/4/11/newcastle%20office%203.jpg" target="_blank">Click here</a> to enlarge:
<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/2019/4/11/newcastle%20office%203.jpg" alt="">   “While this reduction in vacancy over the last few years was heavily due to stock contractions, the ongoing positive take up highlights the improvement in the local economy,” Ms Rader said.   “Demand is high for A grade stock with vacancy in this category falling from 6.4 per cent last year to just 2.8 per cent, sub-lease vacancy is also at a record low of just 0.1 per cent, this further emphasising the requirement for quality stock in the market.   “B grade absorption levels have also been elevated with vacancy now 8.3 per cent, down from 11.2 per cent 12 months ago, and this has been aided by the relocation of C and D grade tenants.   “While C and D grade stock have both enjoyed stock withdrawals, the loss of tenants has seen negative take-up levels and vacancy increasing in both quality grades, to 13.4 per cent and 12.2 per cent respectively.” 
<a href="https://www.propertyobserver.com.au/images/2019/4/11/newcastle%20office%204.jpg" target="_blank">Click here </a>to enlarge: 
<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/2019/4/11/newcastle%20office%204.jpg" alt="">
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