Abadeen has released the whole-floor penthouse crowning its recently completed <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences</a> development in Cremorne, bringing the near-300 sqm residence to market for the first time.

Occupying the entire top floor of the boutique Lower North Shore development, the penthouse includes 221 sqm of internal living and a 74 sqm wraparound terrace, with a prized north-facing aspect taking in views across Middle Harbour.

The residence has been completed and fully furnished following a collaboration between Abadeen Executive Chairman Justin Brown and internationally recognised interior designer Jack Freeman, Founder and Managing Director of FREEMAN &amp; CO.

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and Freeman approached the penthouse as a finished home, sourcing furniture, artwork, lighting and objects from Australia and overseas.

[smartcode_project:default project_id=114246 project_image_fid=378718]

Pieces from Parisian design house Pierre Augustin Rose sit alongside contemporary artworks and bespoke lighting, with Freeman drawing on recent visits to PAD Paris and Salone del Mobile Milano for the final collection.

Brown said the aim was to create a penthouse that felt more like a large-scale private home than a traditional apartment.

"The experience begins the moment the lift doors open. You're welcomed into an elegant dining room before the home opens into an extraordinary living space framed by sun-drenched harbour views.

"Every time someone walks through the front door they pause. It's not just the view, it's the incredible sense of space, the warmth created by the northern sunlight that fills the interiors, and the way every room connects so effortlessly.

"It has all the proportions of a luxury home, while delivering the effortless lifestyle and personalised experience of living in a world-class six-star hotel, combined with the simplicity and convenience of apartment living."

[smartcode_project:default project_id=114246 project_image_fid=378713]

A secure lift provides exclusive access to the penthouse level, opening to a dedicated arrival foyer and dining area before the residence expands into its main living and entertaining spaces.

Floor-to-ceiling glazing runs across the northern side of the home, connecting the interiors with the terrace and Middle Harbour outlook.

The penthouse also features a fireplace and substantial chef's kitchen, while the wraparound terrace has been designed to accommodate both everyday outdoor living and larger-scale entertaining.

[smartcode_project:default project_id=114246 project_image_fid=378720]

Freeman said the interiors had been deliberately kept restrained to complement the scale, natural light and outlook already established by the architecture.

"The penthouse is a serene study in quiet luxury," Freeman said.

"The interior pairs soft, sculptural forms with warm timber, pale stone and a restrained neutral palette. Curated artwork and metallic accents add depth, while abundant natural light creates a calm, effortlessly refined atmosphere. In my world, less is always more."

Freeman said the approach was centred around collecting individual pieces rather than simply decorating the apartment.

"Every material, every object and every piece of furniture has been curated with intention. I am a true believer in collecting versus decorating.

"The architecture already provided extraordinary natural light, remarkable volume and an uninterrupted connection to Middle Harbour. Our role was to complement those qualities with unique one-of-a-kind pieces of fine art and collectible design sourced from recent travels around the world."

[smartcode_project:default project_id=114246 project_image_fid=378694]

Among the collection are solid bronze sculptures by Lorenzo Quinn, alongside a curated crystalware collection and pieces sourced from international design fairs.

Park Residences sits opposite Cammeray Golf Club, Cammeray Croquet Club and Grand Slam Tennis Cammeray, around 300 metres from Neutral Bay Village and its established collection of restaurants, cafés and retail.

Brown said the combination of a whole-floor floorplan, northern aspect and proximity to Neutral Bay was becoming increasingly difficult to find on the Lower North Shore.

"Completed whole-floor penthouses with a sun-drenched north-facing aspect and sweeping Middle Harbour views are exceptionally rare," Brown said.

"Add a quiet position opposite golf, croquet and tennis facilities, a level walk to Neutral Bay Village and only minutes to the CBD, and you have a lifestyle that's incredibly difficult to replicate.

"This is a home that offers the privacy and generosity of a luxury residence together with the convenience of one of Sydney's best-connected harbourside locations."

The penthouse will be exclusively marketed by SRM Residential.

[smartcode_project_cta:default project_id=114246]

Joel Robinson

Abadeen unveils penthouse at Park Residences in Cremorne

New Brisbane developer Dalcott has unveiled Marrone, the first of three residential projects it is planning in and around Browning Street in South Brisbane.

<a href="https://www.apartments.com.au/new-apartments/marrone-south-brisbane-39-browning-street-south-brisbane-qld-4101">Marrone</a> will comprise 97 predominantly two- and three-bedroom apartments, with larger residences aimed squarely at the owner-occupier market.

The project will sit in a quiet pocket of South Brisbane between South Bank and West End, close to the restaurants, cultural attractions and riverfront amenity that have driven the suburb's continued transformation.

Dalcott is targeting buyers looking for more space and amenity than has traditionally been offered in the inner-city apartment market, particularly downsizers and professionals wanting to remain close to the city.

[smartcode_project:default project_id=149951 project_image_fid=377072]

Resident facilities will be concentrated around an extensive rooftop amenity offering, including a swimming pool, spa, infrared sauna, warm and cold magnesium plunge pools, private lounge, dining room and outdoor entertaining areas.

Dalcott Managing Director Lachlan Cottee said South Brisbane's combination of lifestyle, connectivity and established character had been central to the approach to Marrone.

“South Brisbane offers a combination of lifestyle, connectivity and character that’s difficult to replicate elsewhere in Brisbane,” Cottee said.

“Our focus has been on creating homes that feel connected to that environment while providing the level of design, functionality and quality that today's owner-occupiers expect.”

The residences will feature an expressive material palette. Italian Calacatta Viola marble, known for its deep burgundy veining, will be paired with aged brass tapware, Chestnut engineered timber flooring and Tuscan Oak joinery.

<img alt="Marrone" data-entity-type="file" data-entity-uuid="b8d833da-3b30-496a-ae30-07bdff371b50" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.35%E2%80%AFAM.png?VersionId=P6DAgOfaQzIXljKKK5j3e5NhWtrHIu9G" />

Bathrooms will feature Nara Japanese ceramics and glass bricks, while clay, walnut and brass lighting will be used throughout the apartments.

Dalcott has appointed Realm Projects, led by Managing Director Shane Foley, to handle sales and marketing following previous sold-out collaborations between the groups.

Foley said the Brisbane apartment buyer had become increasingly focused on the quality of the home itself rather than simply securing an inner-city address.

“We expect to see strong demand from buyers who still want all the advantages of inner-city living but aren’t prepared to compromise on the quality of their home,” Foley said.

“Many will be downsizers looking to leave behind the maintenance of a traditional family home without giving up the space they enjoy, while others are likely to be professionals wanting a residence that reflects the way they live today.”

“Marrone responds directly to that demand, with generous floorplans, exceptional resident amenity and a location that places some of Brisbane’s best dining, entertainment and cultural attractions within walking distance.”

<img alt="Marrone" data-entity-type="file" data-entity-uuid="61f7b22f-899e-4c0f-940a-7d3ab1bfb93a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.44%E2%80%AFAM.png?VersionId=PvN1JYxBgUpyCB7efKo52WGdSDs9nmim" />

Marrone will be the first project delivered as part of Dalcott's broader investment in the precinct.

It will be followed by La Terra, a boutique project comprising penthouse-style, single-level apartments on a northeast corner site with extensive resident amenity and city views.

Cottee said Marrone represented the first stage of the group's longer-term plans for the area.

Dalcott was established in 2025 by Lachlan Cottee and Ben Dalgliesh, combining development and construction capability under an integrated model and focusing on architecturally considered residential projects.

Marrone will initially be offered through a pre-release registration campaign ahead of its broader public launch.

Dalcott targets owner-occupiers with South Brisbane debut Marrone

Parnell Developments is the latest to seek significant uplift through the NSW Government's Housing Delivery Authority on a Strathfield site previously approved for a much smaller apartment development.

Parnell has sought approval for a 32-storey mixed use tower across&nbsp;<a href="https://www.apartments.com.au/new-apartments/7-lyons-street-strathfield-nsw-2135">3-7 Lyons Street and 18 Parnell Street</a>, a&nbsp;1,857 sqm site around 400 metres from Strathfield Station. The building would yield 160 apartments, 15 per cent of which will be dedicated affordable as per the government mandate for buildings seeking additional uplift.

Approved previously was a nine-storey building back in 2022 with just over 30 apartments. That approval came prior to the project being&nbsp;progressively reconsidered as planning policy shifted toward greater density around transport hubs.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="c5af5281-a643-4eb2-b8c4-0081b59c04c7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.16.48%E2%80%AFAM.png?VersionId=37bd3mI7rHNpThOV_75VO8xsGFwWOi1u" />

Turner has designed the latest building that would replace&nbsp;existing detached homes across the four lots.

The apartment mix comprises 22 one-bedroom apartments, 107 two-bedroom and two-bedroom-plus configurations, and 31 apartments with three or more bedrooms. The scheme also includes 203 car spaces across six basement levels and 58 bicycle spaces.

The proposal has been designed around a three-storey podium addressing Lyons Street, with the tower rising above and stepping toward its upper levels.

Turner said the podium was deliberately scaled to respond to the existing street, while the taller element has been designed as part of the emerging skyline anticipated around Strathfield Town Centre and the wider Homebush transport-oriented development precinct.

The Lyons Street frontage would have a more active, pedestrian-focused character, incorporating the commercial tenancy, landscaping and a brick-framed podium with an awning.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="14b20874-b8c3-4ac7-bc03-92be9a69fb78" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.48%E2%80%AFAM.png?VersionId=av.9TxtqIRTC6v3PkSuu1rL9rreWoe2h" />

Parnell Street, which faces the railway corridor, has been given a different architectural treatment, with double-height breeze blocks, landscaping and communal areas used to soften the interface with the rail infrastructure.

The tower itself uses curved and recessed facade elements, with wave-like indentations across the northern elevation breaking the building into three vertical forms.

A palette of grey concrete, brick and breeze blocks is complemented by clay and terracotta accents, while the upper tower adopts a lighter expression through articulated slab edges, vertical fins and recessed glazing.

Residents would have access to 467 sqm of communal open space spread across three levels. The ground floor would accommodate the more active resident areas, including barbecue and group gathering spaces and an internal communal room capable of being used for working from home.

A more passive viewing deck is proposed at level three, overlooking the ground-level landscaping and neighbouring tennis courts, while a rooftop "sunset deck" at level 30 would provide another social and relaxation space.

<img alt="Parnell" data-entity-type="file" data-entity-uuid="c3dce401-a80f-4682-8471-4caa01180880" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.34%E2%80%AFAM.png?VersionId=Xyo8JVqbOhSJXNy6Ih.1cHL.O6i0bGR." />

&nbsp;

&nbsp;

&nbsp;

Strathfield has been earmarked for substantial change through the Strathfield Town Centre planning work and the nearby Homebush TOD precinct.

Turner's report says the project has been designed to act as a transition between the existing low and mid-rise development surrounding the site and the taller built form expected to emerge across the town centre.

The proposal is being assessed as State Significant Development under the HDA pathway, alongside the concurrent request to amend the Burwood Local Environmental Plan.

First look: New apartment tower pitched for Strathfield Town Centre precinct

An $18 million penthouse has hit the market in Main Beach as construction tops out on La Mer, the $155 million apartment development rising just metres from the beach.

Spanning around 600 sqm across the top two levels of the 29-storey tower on Main Beach Parade, the four-bedroom penthouse is one of the latest eight-figure residences to test the upper end of the Gold Coast apartment market.

Its launch comes amid continued activity at the very top of the market, following the $30 million off-the-plan sale of a Burleigh Heads penthouse earlier this year, which surpassed the Gold Coast's previous $24 million apartment record set in 2023.

The <a href="https://www.apartments.com.au/new-apartments/la-mer-main-beach-3580-main-beach-parade-main-beach-qld-4217">La Mer penthouse</a> has been designed as a private residence in the sky, with 360-degree views spanning the ocean, Broadwater, hinterland and Gold Coast skyline.

[smartcode_project:default project_id=95606 project_image_fid=378731]

All four bedrooms have ensuites, while the ocean-facing master retreat occupies around half of the upper level and includes its own lounge, private balcony, two walk-in wardrobes and an oversized ensuite with a freestanding stone bath positioned to take in the views.

The residence also features a kitchen designed to accommodate a private chef, a 3.6-metre island bench, expansive butler's pantry, wine cellar and integrated bar.

[smartcode_project:default project_id=95606 project_image_fid=378732]

A rooftop pool and substantial outdoor entertaining area with its own kitchen sit above the residence, while a grand staircase connects the two internal levels. The penthouse also has its own express lift.

OTP Group Director James Elliott, who is marketing La Mer, said the penthouse was expected to appeal to high-net-worth buyers seeking either a permanent Main Beach residence or Gold Coast holiday home.

“The La Mer penthouse represents exceptional value, considering its quality design, size, privacy and location, not to mention the 360-degree views capturing the beach and Gold Coast Broadwater,” Elliott said.

“We’re anticipating interest from high-net-worth individuals and couples seeking a residence or holiday home in the sought-after village enclave of Main Beach, taking advantage of the unprecedented growth underway in the area and neighbouring The Spit.”

[smartcode_project:default project_id=95606 project_image_fid=378736]

La Mer is being developed by developer-builder ODUS and Nazero, in partnership with funder Metrics Credit Partners.

ODUS Director Byron Sakha said topping out the tower had provided the opportunity to release the project's most significant residence.

“We’ve worked with internationally-recognised studio Sici Design on the penthouse interiors, with a focus on ensuring it isn’t luxury for luxury’s sake. Every element has been thoughtfully designed to enhance quality of life for those who call it home,” Sakha said.

“The views are the hero of virtually every space, but we’ve given equal attention to the fittings and finishes, so every detail exudes elegance and refinement.”

Sici Design Founder and Director Maria Papadopoulos said the extensive views became an integral part of the interior design rather than simply something the residence was designed around.

“The views weren't something we designed around, they became part of the design itself, with the true luxury of La Mer in its feeling of peace, calm and wellbeing,” Papadopoulos said.

“Luxury isn't defined by how something looks, but how it makes you feel, and we believe a luxurious home should be beautiful to live in, not stressful to maintain.”

The interiors combine Austral Dream Dolomite natural stone and travertine with timber flooring and a restrained coastal palette.

[smartcode_project:default project_id=95606 project_image_fid=378734]

Designed by Plus Studio, La Mer is one of the more boutique additions to the rapidly changing Main Beach apartment market.

The tower comprises just 24 full-floor, three-bedroom plus multipurpose room apartments below the two-level penthouse, giving the project a considerably lower density than many of the larger towers being developed across the Gold Coast.

Residents will have access to a pool and spa, gym, sauna, barbecue facilities, private sun lounges, yoga lawn and outdoor beach shower.

The penthouse has been released as part of the final collection of residences at La Mer, with remaining apartments priced from $4.3 million.

Construction is expected to complete later this year, with a fully furnished display apartment now open on level four.

[smartcode_project_cta:default project_id=95606]

ODUS releases $18 million penthouse crowning La Mer Main Beach

<a href="https://www.apartments.com.au/developers/far-east-consortium">Far East Consortium</a> is preparing to commence construction on <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> this October, marking the next milestone for the Melbourne CBD development and its higher-end Eliza Collection.

Spanning levels 44 to 68 of the 68-storey <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>-designed tower, the Eliza Collection has been conceived as a lower-density offering within the broader development, with only five apartments on each floor, dedicated lift access and a collection of resident spaces reserved exclusively for Eliza Collection residents.

The Eliza Collection forms part of Far East Consortium's broader move toward larger-format residences at 640 Bourke Street, where the number of apartments was reduced from earlier plans as apartment sizes increased.

[smartcode_project:default project_id=509 project_image_fid=365685]

"What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Far East Consortium Director of Sales and Marketing Lauren Sheldon said.

Rothelowman Associate Jun Chang said the design process provided an opportunity to create more generous floorplans.

"We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."

[smartcode_project:default project_id=509 project_image_fid=368869]

That thinking carries through to the Eliza Collection, where the residences have been designed around the space and functionality associated with a larger home, but positioned high above the centre of Melbourne.

Kitchens are equipped with Gaggenau appliances, a butler's pantry, temperature-controlled wine cabinet and sculptural pendant lighting, while engineered timber flooring, stone and porcelain finishes and custom cabinetry feature throughout the broader interiors.

Privacy and security are another point of distinction. Eliza Collection residents have dedicated lift access, while 640 Bourke Street will provide concierge services and secure resident parking. Short-stay accommodation, including Airbnb, will not be permitted within the development.

[smartcode_project:default project_id=509 project_image_fid=365689]

Eliza Collection residents will also have exclusive access to selected amenity spaces across levels one and three of the restored Eliza Tinsley building. These include the Salon with grand piano, an art therapy room, private dining rooms and treatment rooms.

They sit within more than 3,000 sqm of amenity planned across 640 Bourke Street, alongside facilities including a pool, gym, whisky lounge and further social and wellness spaces.

The Eliza Tinsley building itself is central to the wider project's identity. Rather than treating the existing Eliza Tinsley façade as a separate element, Rothelowman used it as a starting point for the architecture of the new tower, with the historic building to accommodate the project's gallery and lobby.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

[smartcode_project:default project_id=509 project_image_fid=368872]

The tower will rise behind the retained heritage building at 640 Bourke Street, placing residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market and the Docklands waterfront.

With construction scheduled to begin in October, Far East Consortium has established an onsite display gallery at 640 Bourke Street, including fully built apartments that allow the project's layouts, materials and finishes to be inspected at full scale.

A fully built Eliza Collection apartment is also available to view at the display suite by appointment ahead of the planned October construction commencement.

Eligible purchasers who buy before construction commences can secure the full available off-the-plan stamp duty savings, subject to eligibility and applicable conditions.

[smartcode_project_cta:default project_id=509]

Far East Consortium brings Eliza Collection to 640 Bourke Street ahead of October construction start

Parramatta

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The NSW government has committed to the largest ever government agency leasing deal in Western Sydney, with more than 62,000 square metres of A-Grade office accommodation to be built by Walker Corporation at 4 Parramatta Square.
The new building will accommodate at least 4,000 public service roles, including more than 1,600 planning and environment roles relocating directly from the Sydney CBD by 2019.
Minister for Finance, Services and Property, Dominic Perrottet, said the development would establish a major public service base in Parramatta, the heart of Sydney’s second CBD.
The development will bring together around 2,500 roles from the Department of Planning and Environment, the Office of Environment and Heritage and the Environment Protection Authority, creating a Western Sydney Planning and Environment “hub” and improving opportunities for these agencies to work together.
Around 1,600 Department of Finance, Services and Innovation roles already located in Western Sydney will also be co-located in the new building.
The selection of Walker Corporation as preferred proponent followed an expressions of interest process and subsequent detailed tender phase.
Development approval for the site has been obtained and construction work is expected to commence in March 2017.
Since 2014, the government has announced the relocation of more than 4,200 public service roles from the CBD to Western Sydney.
This includes more than 1,800 jobs from the Department of Education, which will be relocated to 105 Phillip Street, Parramatta in 2018.
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j.ballantyne1990-6AQqhLzZaK

NSW government jobs bound for Parramatta Square

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An undisclosed buyer has paid over $3 million for the second penthouse in Parramatta businessman has just purchased Coronation Property's 8 Phillip Street’ in Parramatta.
Local businessman Bob Reiman purchased the first penthouse within the 55-storey tower for $3 million on launch day, Saturday 19 November.
Stage 1, consisting of 150 apartments, sold out within the first hour.  After the release of stage 2 189 apartments had sold at the end of the first day, including the first penthouse, exceeding $160 million in sales. 
Over 72 percent of sales were to owner-occupiers.
Jason Soulos, Sales Director, <a href="https://coronation.com.au/projects/phillip-street/" target="_blank">Coronation Property</a> said the latest penthouse buyer had been looking to move out of his house and into an apartment for the lifestyle benefits, but didn’t want to compromise on space. 
"He also didn’t want to leave Parramatta and had been searching for two years to find something large enough with a high level of design and quality finishes,” he said.
“Essentially he was motivated by the sheer size of the penthouse as its 189 square metre proportions are basically double the size of a typical three-bedroom apartment. 
"He also loved the attention to detail and premium fitout delivered by Woods Bagot and likes to entertain, so immediately saw his penthouse as an entertainers’ paradise.
"It looks likely we will release stage 3 in February next year, four months ahead of schedule.  We strongly suggest those interested in this luxury tower submit their expressions of interest before the stock is released in the new year, to avoid missing out.”
Joe Nahas, managing director, Coronation Property said that the group’s latest premium, mixed-use development was a distinctly unique offering in Australia, let alone for Parramatta.
“While residents of 8 Phillip Street will have hotel facilities right at their fingertips, the residential component of the building will be very private and accessed via its own lobby,” he said.
“There are very few developments that integrate the same level of contemporary design and lifestyle offering that 8 Phillip Street will deliver, together with spectacular boutique hotel facilities… in the heart of Sydney’s growth area.”
Studio apartment prices start from $492,000.
Designed by international design firm Woods Bagot, 8 Phillip Street will feature more than 300 one, two and three bedroom residences, a rooftop bar, and architecture and outdoor design elements by project partner Jamie Durie.
The project gallery is on level one at 8 Phillip Street, Parramatta and features a to-scale three bedroom apartment complete with ensuite, main bathroom, powder room, laundry, kitchen, dining and living room complete with a balcony overlooking greater Sydney. 
The project gallery and display apartment is open from 11am – 4pm on Thursdays to Sundays or by appointment.  Appointments can be made by calling 1800 753 163 or enquiring via <a href="mailto:sales@coronation.com.au" target="_blank">sales@coronation.com.au</a>.
Meanwhile developer Meriton's Altitude towers at Parramatta will have two sky penthouses.
They will occupy the top floor of the Altitude residential tower - Parramatta’s tallest yet building soaring to 54 levels.
The move will place the owners of the luxurious and expansive penthouses more than 170 metres above the ground in the cultural heart of Parramatta.
James Sialepis, Meriton’s director of sales, the four-bedroom penthouses have prices at $2.350 million and $2.050 million.
Altitude is on a former David Jones site in Church Street, bought for $36.5 million in 2010.
The project consists of a 377-apartment residential tower and a 36-floor Meriton Serviced Apartments hotel with 254 suites and which opened this month.
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jonathanchancellor-7SQnKwU6yx

Penthouse sale smashes two-week-old $3 million record price paid for a penthouse in Parramatta

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Many of the Sydney residential markets are showing resilience – refusing to lie down – but the overwhelming weight of evidence is that the big price boom has run its course.
You will note my reluctance to speak about “the Sydney property market” as a single entity. The tendency by media (and many of the attention-seekers, like economists and publicity-obsessed research companies, who feed journalists misinformation) to distil market dynamics for a major city to a single growth figure is really unhelpful and often misleading. 
The Sydney metro area, with over 700 suburbs, has many different markets. They’re not all moving as one. To describe Sydney house price movements as a single figure might satisfy a simplistic media but it tells no one anything useful. 
My latest analysis of sales data reveals there are still a small number of Sydney suburbs with growth markets, a much larger number which I classify as “plateau” markets (have levelled off a little below the peak), a few that show notable consistency of sales over time, and a small but growing number that I categorise as “danger” markets.
That amounts to lots of different scenarios within the boundaries of the Greater Sydney Area. 
If there is any commonality to be found, it’s that the volume of sales overall has dropped in 2016 and that most research sources are publishing data which confirms that the overall rate of price growth has dissipated considerably.
The other common feature is that many Sydney areas are hanging tough. Some of the key factors that drove the boom – the strength of the Sydney/NSW economy and the high level of spending on infrastructure – are still in place.
But some of the other influences – the absence of major growth in the decade pre-2013 and the relative affordability it created – has passed into history. There’s no way that strong level of price growth could continue beyond three years, because price becomes an issue for more and more people.
But a lot of Sydney markets are showing resilience – still making good sales and maintaining strong prices, just without the double-digit annual growth of the recent past. This is one of the reasons I’m not expecting any significant decline in Sydney markets in the near future.
But there are exceptions. There are now eight suburbs which I classify as danger markets. They’re all locations dominated by apartments and they’re places where sales rates have dropped markedly at a time when developers are still bringing lots of new supply to the market.
In some of those standout locations, like Parramatta, the rate of sale is a third of the levels of three years ago. Practitioners who claim Sydney can build unlimited numbers of new apartments because the city has a dwelling shortage are deluding themselves and others. There are specific markets in Sydney heading for major oversupply, regardless of the overall supply-demand situation for the metro area as a whole.
The areas showing the most solidity in the face of the overall decline in the market heat are headed by the City of Penrith. There’s still plenty of life in markets out in the far west – and this is typical of the Sydney places investors should consider to achieve growth in coming years.
Sydney’s property boom was caused by a number of core factors, including the overall strength of the NSW economy and the lengthy period without strong growth pre-2013.
But the biggest single factor for me is the high level of spending on infrastructure. Tens of billions of dollars are being invested and that’s generated economic activity and jobs, while improving the amenity and/or accessibility of locations. Transport and medical-educational facilities are the big ticket items.
So the way forward for investors in Sydney is to follow the infrastructure trail – and, in general terms, that means looking west where the second airport is being built, as well as new motorways and rail links.
Municipalities like Penrith, as well as Blacktown and Liverpool, are the most likely beneficiaries.
Buying property that lies in the path of progress has always been a core method of making money in real estate – and that’s one of the keys for investors contemplating the inevitable wind-down in markets in Sydney.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a>
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terryryder-YECXbqmri2

Parramatta on list of eight danger property market suburbs: Terry Ryder

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Prominent Sydney hotel owner and developer, Iris Group, has listed its development site in the heart of Parramatta’s Gateway precinct.
Now the sixth largest CBD in Australia with a population approaching a quarter of a million, the listing presents an opportunity to participate in what the listing agents described as "a massive building boom."
"The timing of the Iris listing could not be better, according to Savills Director Residential Site Sales, Neil Cooke, who is marketing the property with colleague Stuart Cox in conjunction with Khoury &amp; Partners’ Anthony Khoury, George Khoury and Jon Race. 
In August last year, it was reported the Chinese developer, Greenland Group, was considering the purchase of the Crown Hotel at 295 Church 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/2016/11/22/700_iris1.jpg" alt="">
Cooke said the State Government has underlined the importance of Parramatta "in no uncertain terms" with, among other things, its $10 billion infrastructure investment for Parramatta and Western Sydney, including the new $1 billion Light Rail network.
“What that means for Iris Group’s Crown Hotel site at 295-309 Church Street is the confidence that State Government backing provides to developers to proceed with the sort of ambitious and exciting projects that sites such as this can deliver to a City in the midst of an incredible growth phase,” Mr Cooke said.
The 1,082 square metre site, with 35 metres frontage to Church Street and 26 metres to Phillip Lane, is located in a core CBD Gateway position, in the heart of Parramatta’s vibrant ‘Eat Street’ precinct and adjacent to the proposed $250 million Riverside tower development on the Parramatta River. 
The B4 Mixed Use zoning allows for a variety of uses including commercial premises, a luxury hotel, residential tower or a combination of these uses. Parramatta City Council recently granted Gateway Approval for an increase in FSR to 10:1 with a height limit to part 12 metres and part 150 metres. 
According to Anthony Khoury, a redevelopment of the site with a potential gross floor area of circa 12,000 square metres (STCA), in accordance with the Gateway Approval, would offer apartment dwellers views over Parramatta River within walking distance of Westfield Parramatta and the Parramatta bus/rail interchange and ferry terminal.
Mr Khoury declined to put a price on the property instead citing the recent sales of 135 George Street (cnr Harris Street) and the Thompson Ford site. 
135 George Street –<a href="https://www.realcommercial.com.au/property-land+development-nsw-parramatta-501863054" target="_blank"> the Albion Hotel site on 3,135 square metres </a>- was sold by Solotel after its three decade ownership in September for $60 million through Khoury &amp; Partners with a mixed use, 26,000 square metre planning proposal.
The residential developer, Dyldam paid $70 million for the nearby 3,300 square metre Thompson Ford site at the corner of Church Street and Great Western Highway.
“The market for mixed use and or/residential development sites is white hot,” Mr Khoury said.
Offers are due December 6.
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Iris list white hot Parramatta Gateway development site

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A record price has been paid for penthouse in Parramatta.
The $3 million sale was in the initial offering of Coronation Property’s highly anticipated 8 Phillip Street in Parramatta.
Local Parramatta businessman Bob Reiman (below) had originally planned to buy a standard three bedroom apartment, but upgraded to the $3 million penthouse - one of a handful of apartments on the top two floors of the 55 storey tower.  
<img src="/images/2016/11/21/DSC_0011.JPG" alt="">
 
The apartments for sale started from $459,000 for a studio apartment.
<img src="/images/2016/11/21/700_coronation.jpg" alt="">
The prior disclosed off the plan penthouse offerings elsewhere in Parramatta had been in the $2.2 million to $2.6 million range. 
“I was really impressed with the quality of the finishes of the apartment and the design by international architect Woods Bagot," said Mr Reiman.
Its stage one sold out, after more than 200 expressions of interest were received prior to launch day resulting in more than $110 million sold in the first few hours.  
Further strong sales are anticipated over the next few days.
The luxury 55-storey tower will feature boutique QT Hotel accommodation on its lower levels, together with world-class facilities including a signature QT bar &amp; grill restaurant which will also be open to the public, multiple meeting and event spaces, Spa Q, a ballroom accommodating 200 people seated and an alfresco infinity pool on the 18th storey.
8 Phillip Street will comprise just over 300 residences when completed in 2020, with apartments to include one, two and three bedroom configurations, as well as studio and penthouse options.
<img src="/images/2016/11/21/700_parra.jpg" alt="">
The tower’s pièce de résistance is its spacious ‘Studio 54’ rooftop bar which will be open to residents as well as the public and will easily be able to accommodate 600 patrons, who will be able to enjoy unapparelled views of Sydney’s CBD and surrounds.
Jason Soulos, Sales Director, Coronation Property, said the response to 8 Phillip Street had been exceptionally strong in the lead-up to the sales launch.
“Although we were expecting robust sales at our launch, it wasn’t until we opened our project gallery in recent weeks that we were able to truly gauge just how exciting the project had become to locals – many of whom have since purchased apartments within the development,” Mr Soulos said.
“The addition of high-tech, immersive virtual reality booths within our project gallery to showcase the project to buyers was exceptionally well-received – the technology was able to virtually transport buyers right to the top of the tower to experience its facilities and vistas for themselves.”
Buyers on the day also cited the inclusion of world-class landscape architecture and outdoor design elements by project partner Jamie Durie as another drawcard for 8 Phillip Street, with the gardening guru planning a floating forest and trapeze garden to grace the tower’s façade and foyer.
According to Mr Soulos, the majority of purchasers to date are owner-occupiers, with many currently living or working in Parramatta.
The project gallery and display apartment is open from 11am – 4pm on Thursdays to Sundays or by appointment.  Appointments can be made by calling 1800 753 163 or enquiring via <a href="mailto:sales@coronation.com.au" target="_blank">sales@coronation.com.au</a>.
For more information visit liveat8phillipst.com.au.
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Record $3 million penthouse sale in Coronation’s 8 Phillip Street, Parramatta

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Apartment sales for Parramatta's 8 Phillip Street mixed use development begin 19 November.
The project includes 280 contemporary residences with options including studios, one, two, three-bedroom layouts plus penthouses.
Construction is due for completion in 2020.
<img src="/images/2016/11/18/coronation3.jpg" alt="">
The 55-storey Woods Bagot designed building will include 35 levels of apartments, 14 levels of designer QT Hotel accommodation and dining, Spa Q, and separate rooftop bar, Studio 54, on the 54th floor, and open-air pool overlooking greater Sydney.
The building design includes capacity for 205 standard deluxe rooms, 50 executive deluxe rooms and two QT suites. The hotel will be Parramatta’s first five-star offering.
Hotel amenities will include a QT bar &amp; grill restaurant which will also be open to the public, multiple meeting and event spaces, Spa Q, a ballroom accommodating 200 people seated and an alfresco infinity pool on the 18th storey.
<img src="/images/2016/11/18/coronation2.jpg" alt="">
Joe Nahas, Coronation’s managing director said the development has been designed to create vibrancy in the area, during both day and night. 
"Locals will be encouraged to experience the sweeping 180-degree panorama of the Blue Mountains, across to Sydney Olympic Park and over to Sydney’s CBD, harbour and beyond from Studio 54, the rooftop bar, and dine in the gourmet restaurants.  It’s going to become a destination for the entire community," he said.
The quirky designer hotel will feature a stunning three storey lobby void, which will be independent from the adjacent residential lobby, with inspiration for the lobby’s three storey staircase was drawn from Louis Vuitton’s Vienna outlet.
The project gallery and display apartment for Coronation Property’s 8 Phillip Street mixed-use tower in Parramatta is open by appointment, with visitors able to inspect the tower’s ‘Studio 54’ rooftop bar through a movie-grade virtual reality booth.
The virtual tour begins when visitors are and taken up the tower lift, with doors opening on level 54, where they will be greeted by the hostess before venturing down to their reserved table to enjoy the bar scene.
The project gallery features a luxurious to-scale three-bedroom apartment complete with ensuite, main bathroom, powder room, laundry, kitchen, dining and living room complete with a balcony overlooking greater Sydney.  It will also include an interactive precinct and building. 
The project gallery and display apartment will be open by appointment only on weekends from 11am – 4pm and Tuesdays – Fridays from 11am – 6pm. 
For more information, call Coronation Property on 1800 753 163 or visit <a href="https://liveat8phillipst.com.au/" target="_blank">liveat8phillipst.com.au</a>.
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Apartment sales launch for Coronation's 8 Phillip Street, Parramatta

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The project gallery and display apartment for Coronation Property’s 8 Phillip Street mixed-use tower in Parramatta is open by appointment, with visitors able to inspect the tower’s ‘Studio 54’ rooftop bar through a movie-grade virtual reality booth.
The virtual tour begins when visitors are and taken up the tower lift, with doors opening on level 54, where they will be greeted by the hostess before venturing down to their reserved table to enjoy the bar scene.
Joe Nahas, managing director of Coronation Property said they were very keen to provide this innovative experience for our clients as this development is truly unique on all fronts and needs to be seen to be believed. 
The project gallery features a luxurious to-scale three-bedroom apartment complete with ensuite, main bathroom, powder room, laundry, kitchen, dining and living room complete with a balcony overlooking greater Sydney.  It will also include an interactive precinct and building. 
8 Phillip Street will ultimately include 300 contemporary residences with options including studios, one, two and three-bedroom layouts, plus penthouses.
The 55 storey building will also include 14 levels of designer QT Hotel accommodation below 35 levels of apartments.  The building design includes capacity for 205 standard deluxe rooms, 50 executive deluxe rooms and two QT suites. 
Hotel amenities will include a QT bar &amp; grill restaurant which will also be open to the public, multiple meeting and event spaces, Spa Q, a ballroom accommodating 200 people seated and an alfresco infinity pool on the 18th storey.
Apartment sales will launch 19th November, with construction due for completion in 2020.
The project gallery and display apartment is located at Level 1, 8 Phillip Street, Parramatta. Inspection is strictly by appointment only on Saturday and Sunday 11am to 4pm and Tuesday to Friday 11am to 6pm.
For more information, please call Coronation Property on 1800 753 163 or visit <a href="https://www.liveat8phillipst.com.au/" target="_blank">liveat8phillipst.com.au</a>.
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Coronation Property’s Studio 54 experience in Parramatta

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SPONSORED POST
Coronation’s world-class ‘8 Phillip Street’ is set to become a Sydney icon, not only for its striking contemporary design, but for the way it will totally transform the dynamic of Parramatta’s dining, riverside and historic precinct. 
<img src="/images/2016/11/08/coronation1.jpg" alt="" width="426" height="767">
The 55-storey Woods Bagot designed building will include 35 levels of apartments, 14 levels of designer QT Hotel accommodation and dining, Spa Q, and separate rooftop bar, Studio 54, on the 54th floor, and open-air pool overlooking greater Sydney.
Joe Nahas, Coronation’s Managing Director said “it’s been designed to create vibrancy in the area, during both day and night.  Locals will be encouraged to experience the sweeping 180-degree panorama of the Blue Mountains, across to Sydney Olympic Park and over to Sydney’s CBD, harbour and beyond from Studio 54, the rooftop bar, and dine in the gourmet restaurants.  It’s going to become a destination for the entire community.”
<img src="/images/2016/11/08/coronation2.jpg" alt="" width="475" height="475">
“We are deeply committed to delivering world-class architecture and creating residences that the local community will love. 8 Phillip Street will set the benchmark for mixed-use developments not only in Sydney, but internationally. Woods Bagot have delivered a design that is truly visionary and manages to exceed the high standard we insist on,” said Mr Nahas.
The project includes 280 contemporary residences with options including studios, one, two, three-bedroom layouts PLUS penthouses.
<img src="/images/2016/11/08/coronation3.jpg" alt="">
The project gallery and display apartment offers visitors the opportunity toexperience the tower’s ‘Studio 54’ rooftop bar via blockbuster movie-grade virtual reality in two booths. Via the latest technology you are transported to 8 Phillip Street and taken up the tower lift. With doors opening on level 54 you are greeted by the hostess before venturing down to your reserved table to enjoy the buzzing bar scene.
The project gallery features a luxurious to-scalethree-bedroom apartment complete with ensuite, main bathroom, powder room, laundry, kitchen, dining and living room complete with a balcony. Those interested are encouraged to secure their appointment with Coronation Property as soon as possible to see the gallery first and have their chance to secure their residence in this truly remarkable building.
Apartment sales will launch 19th November, with construction due for completion in 2020.
The project gallery and display apartment opens this weekend and is located at Level 1, 8 Phillip Street, Parramatta. Inspection is strictly by appointment only on Saturday and Sunday 11am to 4pm and Tuesday to Friday 11am to 6pm.
For more information, please call Coronation Property on 1800 753 163 or visit <a href="https://www.liveat8phillipst.com.au" target="_blank">liveat8phillipst.com.au</a>.
 
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Coronation Property’s ‘8 Phillip Street’ in Parramatta lifts the benchmark for mixed-use apartment developments to 55 storeys

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The project gallery and display apartment for Coronation Property’s 8 Phillip Street mixed-use tower in Parramatta opens by appointment this Saturday, with visitors able to inspect the tower’s ‘Studio 54’ rooftop bar through a movie-grade virtual reality booth.
The virtual tour begins when visitors are and taken up the tower lift, with doors opening on level 54, where they will be greeted by the hostess before venturing down to their reserved table to enjoy the bar scene.
Joe Nahas, managing director of Coronation Property said they were very keen to provide this innovative experience for our clients as this development is truly unique on all fronts and needs to be seen to be believed. 
The project gallery features a luxurious to-scale three-bedroom apartment complete with ensuite, main bathroom, powder room, laundry, kitchen, dining and living room complete with a balcony overlooking greater Sydney.  It will also include an interactive precinct and building. 
8 Phillip Street will ultimately include 300 contemporary residences with options including studios, one, two and three-bedroom layouts, plus penthouses.
The 55 storey building will also include 14 levels of designer QT Hotel accommodation below 35 levels of apartments.  The building design includes capacity for 205 standard deluxe rooms, 50 executive deluxe rooms and two QT suites. 
Hotel amenities will include a QT bar &amp; grill restaurant which will also be open to the public, multiple meeting and event spaces, Spa Q, a ballroom accommodating 200 people seated and an alfresco infinity pool on the 18th storey.
Apartment sales will launch on 19 November 2016 with construction due for completion in 2020.
The project gallery and display apartment will be open by appointment only on weekends from 11am – 4pm and Tuesdays – Fridays from 11am – 6pm. 
For more information, call Coronation Property on 1800 753 163 or visit <a href="https://liveat8phillipst.com.au" target="_blank">liveat8phillipst.com.au</a>.
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Coronation Property releases virtual reality experience for 8 Phillip Street development

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Coronation Property has announced QT Hotels &amp; Resorts has entered into an agreement to open its third hotel in New South Wales within the 8 Phillip Street mixed-use apartment tower in Parramatta. 
The hotel will be Parramatta’s first five-star offering.
The Woods Bagot designed 54 storey building will include 14 levels of designer QT Hotel accommodation below 35 levels of apartments. 
The building design includes capacity for 205 standard deluxe rooms, 50 executive deluxe rooms and two QT suites.
The quirky designer hotel will feature a stunning three storey lobby void, which will be independent from the adjacent residential lobby. 
Inspiration for the lobby’s three storey staircase was drawn from Louis Vuitton’s Vienna outlet.
Hotel amenities will include a signature QT bar &amp; grill restaurant which will also be open to the public, multiple meeting and event spaces, a ballroom accommodating 200 people seated and an alfresco infinity pool on the 18th storey.
Joe Nahas, Managing Director, Coronation Property said 8 Phillip Street’s world-class design will be a transformative project for Parramatta.
QT Hotels’ signature designer, yet quirky spaces, combined with bold entertainment and relaxing guest experiences has become renowned in the hotel and hospitality sector since it opened QT Gold Coast in 2011. 
QT'S David Seargeant said its hotels were sort out by design driven travellers. 
"Coronation Property’s high standard of design for this project aligns perfectly with our brand making this such a great partnership.”
David Borger, Director, Sydney Business Chamber Western Sydney, said iIn the next five years the economy is expected to grow by 30 per cent, to $30 billion, with many new businesses centring their operations in Parramatta, bringing with them an additional 29,000 white collar office workers looking to live in Parramatta.
8 Phillip Street is scheduled to open in 2020.
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