Iwan Sunito's vision for a landmark mixed-use precinct in Sydney's Inner West has taken a major step forward, with approval granted for the $1.9 billion Five Dock development first unveiled earlier this year.

The approved scheme by <a href="https://www.apartments.com.au/developers/one-global-capital">One Global Capital</a> will deliver an 80,500 sqm mixed-use precinct comprising 840 apartments, integrated hotel accommodation, commercial and retail space, alongside publicly accessible open space designed to create a new destination for the growing suburb.

"This is a significant milestone for One Global Capital and for the future of housing delivery in Sydney," Sunito said.

"The Housing Delivery Authority was established to identify major housing projects capable of delivering meaningful supply more efficiently, and we are delighted that Spencer Street has been recognised as one of those projects.”

He said the declaration reflected the rapid progress achieved since acquiring control of the site.

"In less than seven months we have progressed from taking control of the site to securing entry into one of the NSW Government's most important planning pathways. It reflects the experience of our team, the strength of our consultant group led by Urbis, and our long-term commitment to delivering transformational projects that contribute to Sydney's future."

When the project was revealed earlier this year, Sunito described the opportunity as one of the strongest development sites he had worked on.

"I probably hadn't appreciated the uniqueness of the site until more recently when putting together the concept plans," Sunito said.

"The proximity to the water, and the golf course opposite, is unlike any other part of Parramatta Road. We have a unique position and view corridors over the water that makes this one of the best sites I've worked on."

The development has evolved since its initial announcement, with the approved plans increasing the residential component from the originally proposed 750 apartments to 840 homes while retaining the project's focus on creating an integrated neighbourhood rather than a standalone residential development.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/a-city-within-a-city-iwan-sunito-flags-1-5-billion-mixed-use-precinct-in-five-dock">"A city within a city": Iwan Sunito flags $1.5 billion mixed-use precinct in Five Dock</a>

The precinct will combine apartments with hotel accommodation, commercial workplaces, retail offerings and public spaces, creating a mixed-use environment intended to serve both residents and the broader Five Dock community. The proposal also continues the collaboration between One Global Capital and internationally recognised architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, whose previous work with Sunito includes Infinity, Arc and Skye North Sydney.

Takada previously said the design was driven by a philosophy of integrating nature into the built environment.

"The concept for this development is born from our design approach to naturalising architecture," Takada said.

"The public realm benefits from biophilic design that integrates generous landscaping, and the development is optimised for natural daylight, airflow and water views to foster wellbeing, sustainability and spaces that foster community interaction."

Sunito has consistently described the project as a "city within a city", with a strong emphasis on creating a destination that extends beyond housing.

"We want to create a development that's not only to be seen, but to be experienced by the whole local community," he said.

The approval comes as Five Dock continues its transformation ahead of the opening of the Sydney Metro West line, with the new Five Dock station set to significantly improve connections between the Inner West, Parramatta and the Sydney CBD.&nbsp;

The precinct will also benefit from its proximity to the Parramatta Road corridor, nearby waterfront parklands and established retail and dining offerings that have made Five Dock one of Sydney's most tightly held Inner West suburbs.

Joel Robinson

Iwan Sunito secures approval for $1.9 billion Five Dock mixed-use precinct

The new <a href="https://www.apartments.com.au/new-apartments/yarraville-green-42-stephen-street-yarraville-vic-3013">Yarraville Green</a> development in Melbourne's inner west is showing that landscaping can be just as influential as architecture, with buyers responding strongly to the garden-first approach adopted from the outset by developer Excelon Projects and the project's design team.

Excelon appointed Six Degrees Architects and landscape architects SBLA to work collaboratively on the development, with a brief to create "a sustainable, design-led building with a focus on community."

That approach has resonated with buyers. According to Next Chapter Director Tom Hirini, who is leading the sales campaign, the landscaped communal garden has become one of the project's defining features, alongside its boutique scale and European-inspired cluster housing concept.

Local downsizers, right-sizers and established families already living in Yarraville and surrounding suburbs have accounted for the majority of purchasers.

[smartcode_project:default project_id=144913 project_image_fid=297740]

Yarraville Green will comprise 53 homes, including apartments and townhomes, arranged around the shared central garden to maximise connections to the landscaped open space. Parking has been moved underground, allowing the ground plane to be dedicated to greenery, pedestrian movement and communal spaces.

The landscape extends well beyond passive planting. Productive garden beds, a pergola, communal gathering spaces, garden sheds and a pet wash have all been integrated into the masterplan, creating spaces designed to encourage everyday interaction between residents.

[smartcode_project:default project_id=144913 project_image_fid=297741]

The interiors continue Excelon's focus on craftsmanship, incorporating bespoke elements by Melbourne artisans including leadlight detailing by Adadaz, hand-turned timber hardware by Auburn Woodturning and blown-glass lighting by Ruth Allen.

Sustainability has also been embedded throughout the project, with Yarraville Green targeting an average 7-star NatHERS energy rating through passive design principles, rooftop solar servicing common areas and rainwater harvesting for landscape irrigation.

[smartcode_project:default project_id=144913 project_image_fid=297735]

Construction continues to progress at Yarraville Green, with structural works well underway and framing works approaching completion under builder Balmain &amp; Co. The project remains on track for completion in mid-2027.

Apartments at Yarraville Green are currently priced from $625,000, while townhomes start from $1.4 million.

[smartcode_project_cta:default project_id=144913]

Garden-led design drives buyer demand at Yarraville Green

National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

[smartcode_project:default project_id=145922 project_image_fid=373556]

The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

[smartcode_project:default project_id=145922 project_image_fid=373559]

Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

[smartcode_project:default project_id=145922 project_image_fid=373583]

Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

[smartcode_project:default project_id=145922 project_image_fid=373571]

Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

[smartcode_project_cta:default project_id=145922]

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 41-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 41-storey tower, which has 229 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

[smartcode_project:default project_id=6515 project_image_fid=68839]

There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

[smartcode_project:default project_id=150017 project_image_fid=374052]

The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

[smartcode_project:default project_id=150017 project_image_fid=372547]

The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

[smartcode_project:default project_id=150017 project_image_fid=374054]

Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

[smartcode_project:default project_id=146527 project_image_fid=366550]

That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

Potts Point

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No word yet on just when Kylie Kwong will close her Potts Point restaurant Billy Kwong.
It was announced in March that it would close in the next few months with the acclaimed chef and restaurateur set to open a small, casual eatery from as early as July.
<p data-gtm-vis-first-on-screen-8765012_16="6862" data-gtm-vis-total-visible-time-8765012_16="4000" data-gtm-vis-first-on-screen-9076555_17="6863" data-gtm-vis-total-visible-time-9076555_17="4000" data-gtm-vis-first-on-screen-8882279_17="6864" data-gtm-vis-total-visible-time-8882279_17="4000" data-gtm-vis-has-fired-8765012_16="1" data-gtm-vis-has-fired-9076555_17="1" data-gtm-vis-has-fired-8882279_17="1">"I turn 50 this year and in order to mark the milestone I wanted to take a different direction in my life," Kwong told The Good Food Guide.
"I want to spend more time collaborating with partners and mentors locally and around the world.
Details of the new eatery are yet to be confirmed but the venture will focus on native, organic and local ingredients, Kwong said.
Billy Kwong opened in Surry Hills in May 2000 and in late 2014 the restaurant relocated to a larger site on Macleay Street, Potts Point.
<div class="adWrapper ad">Kwong says the decision allowed her to devote more time to social enterprises and other industry projects.</div>
<div class="adWrapper ad">It will let her travel to events such as the Rene Redzepi-founded MAD symposium in Copenhagen "and have meaningful conversations about serious global issues".</div>
"I can then bring those concepts and ideas back to Australia and localise them, whether it's the way we deliver them in our daily food or a topic we discuss at our MAD Mondays Sydney talks I curate."
Kwong was now looking for a new tenant to take over the site on Macleay Street.
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j.ballantyne1990-6AQqhLzZaK

Kylie Kwong to close her Potts Point restaurant Billy Kwong and downsize

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The Fish Shop at Potts Point is closing its doors after seven years.
It's set to be replaced by Lotus 2.0, to be steered by chef Dan Hong, according to GoodFood.com.au.
The Fish Shop had been the venture of the late chef Jeremy Strode within the Merivale that has decided to launch a pop-up in the space instead.
Hong, who heads up the nearby Ms G's and Mr Wong in the city, was previously at the helm of Lotus when it originally opened in 2002 when the Hemmes family returned to the site they previously operated.
It ran for around six years.
The site was once Moran's, before owner Matt Moran moved on to Aria at Circular Quay.
It was then the restaurant Goldfinger before becoming Lotus.
The restaurant will be an updated version of the former Lotus restaurant.
Hong told GoodFood he remembers auditioning for the Lotus gig, creating 12 dishes in 45 minutes for Hemmes and other Merivale executives.
It will have the hot fudge sundae's he served on the day, as well as Lotus classics such as the tuna with sweet wasabi dressing.
<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/2019/6/4/Fish2.jpg" alt="">
The current space that has been home of popular The Fish Shop.
"The bar at the back is still there, it's [currently] covered in wood," Hong said.
Lotus 2.0 is likely to open in September and trade for up to a year, given the recent sale of the building.
The popular eatery sits within Wirrara, the Macleay Street building offloaded by Justin Hemmes.
It was <a href="/expert-insights/investing/justin-hemmes-sells-longtime-potts-point-retail-building-pre-auction">bought for around $13 million</a> by developer Tony Benjamin who "just wanted a trophy asset," according to selling agent Jason Boon.
Benjamin owns the two star Holiday Lodge Hotel a few doors down the heritage row.
Wirrara was one of the Hemmes family's longest held assets, having being bought by family patriarch, the late John Hemmes, for $1.428 million in 1988.
The building at 61-63 Macleay Street comprises The Fish Shop, Arida clothing retail outlet whose formal lease expires in August, and four apartments above that have been rented to Fish Shop staff.
The Fish Shop is set to close on June 16.
Restaurateur and chef Kylie Kwong is closing her Macleay Street restaurant Billy Kwong in the coming months.
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jrobinson-rf4aSBido9

Justin Hemmes to replace The Fish Shop at Potts Point with Lotus 2.0

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Australia’s biggest live touring comedian Carl Barron has listed his luxury three-bedroom Potts Point apartment.
Currently touring Europe, Barron has quietly listed <a href="https://www.propertyobserver.com.au/https://www.randw.com.au/residential-for-sale/0000407471" target="_blank">the northwest-facing 16th-floor Rockwall Apartments</a>, seeking $5 million to $5.5 million.
With Opera House and Harbour Bridge views from its two alfresco balconies, it cost him $4 million in 2013, marked down on the $4.25 million then being sought.
He was upsizing at the time, from an apartment in the Ikon complex around the corner on Macleay Street, which he still owns and cost him $1,825,000 in 2008.
The Ikon apartment has been a $1500 a week rental in recent times.
The Rockwall inspections are by appointment only through Jason Boon at Richardson &amp; Wrench who offer a rental income estimate of $3000 a week.
The three-bedroom apartment boasts a master suite with mosaic ensuite.
The open-plan main living room adjoins a bow-fronted sunroom area.
Barron’s strata levies are $5792.45 per quarter.
The comedian's tour started in Oslo, before shows in Antwerp, Amsterdam, Stockholm and Copenhagen.
This article was first published in the Saturday Daily Telegraph.
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firstname1-iYD4UYzvBa

Stand-up comedian Carl Barron lists luxury Potts Point apartment

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The hotelier Justin Hemmes has sold his family's longstanding landmark building, Wirrara in Potts Point ahead of tonight's auction.
The corner building had been listed for sale with an $11 million plus guide through Allan Levy from Metro Commercial inconjunction with the local R&amp;W office, but Hemmes was actually hopeful of $13 million, which would reflect a 4 percent yield.
The building's listing coincided with the lease of Arida formally expiring this August.
Through the years, as the Hemmes family expanded their fashion and restaurant business, they also started buying up the buildings in which they operated their different businesses. His parents opened a Thai tea café within their Sydney CBD fashion building in the early 1970s.  
One of their first Merivale coffee shops was this one in Potts Point.
Justin Hemmes' late father, Mr John bought the property at 61-63 Macleay Street for $1.428 million in 1988.
The offering was a rare offload by the hotelier.
Set in the corner of Macleay Street and Challis Avenue, the mixed-use freehold investment located features four large apartments and two retail shopfronts. 
It boasts Merivale’s Fish Shop at street level and the Arida clothing retail outlet next door. 
<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/2019/5/8/Hemmes2.jpg" alt="">
Justin Hemmes, who hosted Prime Minister Scott Morrison’s campaign fundraiser at his Vaucluse estate on Monday night, has acknowledged the Potts Point premises needed some rectification works.
But the hotel baron will soon have his hands full with a mooted $1 billion redevelopment of his recently expanded Ivy, George Street site in the CBD.
He has not lodged any plans, but intends to redevelop the site with an office tower and a hotel, in partnership with investors.
There is current $520,950 total rental income with $328,550 from the Potts Point shops and $192,400 from the four upstairs units per annum. 
The luxury retailer of international clothing brands and distinctive interiors has been on a five year lease at $158,000 a year.
It has been trading there, in one name or another, for almost two decades.
The neighbouring Hemmes-run restaurant The Fish Shop has been on a $170,000 a year lease which Hemmes could continue subject to the next owners' wishes.
It has been many restaurants through the decades including Juillet's, Moran, Giraffe, Clochemerle, Lotus and Merivale.
At one point the building was leased by Thelma and Terry Clune, the gallerists, who are best associated with the adjacent acclaimed Yellow House. 
The total internal 741 sqm area comprises 300 sqm of the ground floor. 
There are $10,000 estimated council rates, $93,000 water rates and $55,000 land tax. 
The property is part of the Santa Fe row of 1905 Queen Anne style terraces that once ran from 45 to 63 Macleay Street.
It is part of the surviving half of a set of 10 terraces, designed by architect Maurice B Halligan, some of them demolished to make way for the Chimes.
One of the terraces, also in a neglected state, is the Holiday Inn, which is owned by the Benjamin family.
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jchancellor-FAypfDUnLy

Justin Hemmes sells longtime Potts Point retail building pre-auction

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The upmarket Ikon apartment block in Potts Point is the latest Sydney apartment block to find it has dangerous combustible cladding.
The building is spending $420,000 on rectification 15 years after its construction by Mirvac.
The report lodged seeking permission with Sydney City Council notes, based on the risk assessment and inspection by Red Fire Engineers, suggests certain sections of aluminium composite panelling must be removed and replaced with non-combustible panelling.
<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/2019/4/17/Ikon3.jpg" alt="">
"These remediation works are necessary as the currently installed panels present an undue risk of fire spread via the external façade, which do not meet the requirements of the BCA for attachments to an external wall."
Apartments prices recently peaked at $16 million.
<div title="Page 3">
<a href="/news/potts-point-one-bedder-fetches-2-15-million">A one bedder was sold</a> at a record $2.15 million last July, although no settlement paperwork has yet to emerge at the LTO on the third floor apartment that was recently up for $850 a week rental.
The results from the testing presented in the report by CSIRO, indicate that the core materials in all ACPs would be deemed combustible if tested to AS 1530.1- 1994.
</div>
<div title="Page 34">
"It is concluded that the ACP is combustible and present an undue risk of fire spread via the external façade, which does not meet the requirements of BCA Clause 2.4 in Specification C1.1 for attachments to an external wall achieving an FRL.
"In our opinion, The Ikon Apartments building presents a high risk of undue fire spread via the façade. This is because:
<ul>
<li>
The external façade system contains combustible components extending the full height of the building.
</li>
<li>
A fire involving the façade could spread to multiple levels of the building through the windows and other openings.
</li>
<li>
The cladding is installed near the exits, including wrapping around the south stair, therefore a fire has the potential to block exits."
</li>
</ul>
</div>
The report suggested, while low, there was a risk of a fire catastrophe.
<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/2019/4/17/Ikon5.jpg" alt="">
Ikon Apartments is an 18 storey Mirvac built high-rise developed in on the site on what once stood the Chevron.
There are 185 residential spaces with an indoor heated pool, spa, sauna and gym.
<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/2019/4/17/Ikon2.jpg" alt="">
Many of the open-plan residences have been curated by acclaimed interior designers and feature sun-catching outdoor areas, with balcony views.
Ikon has gone from being 60 percent investors to 80 percent owner-occupied.
The bulk of the risky cladding is on its southside, with the top four storeys having openings into bedrooms.
The cladding installed on the northeast corner of the building is in close proximity to an adjacent building, Rockwall Apartments.
<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/2019/4/17/Ikon6.jpg" alt="">
The risky cladding is even at its street front lobby entrance where the body corporate plan a more "subtle" than the exisiting bright red cladding currently in place.
It is understood Mirvac claim the Macleay Street building's cladding complied with relevant rules at the time it was built.
News.com.au reported last December that residents of The Quay in Sydney’s Haymarket were considering legal action in the Supreme Court of NSW against builder Parkview Constructions and Chinese developer Ausbao.
The Quay, a 282-unit, mixed-use development built on the site of the old poultry section of Paddy’s Market in Chinatown, was one of 435 identified as “potentially high-risk” by the NSW government’s Cladding Taskforce earlier last year.
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Fire catastrophe risk at Mirvac's Ikon, Potts Point apartment complex

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The listing of the landmark building, Wirrara in Potts Point coincides with the lease of Arida formally expiring this August.
The luxury retailer of international clothing brands and distinctive interiors has been on a five year lease at $158,000 a year, the local listing agents have advised potential buyers.
It has been trading there for almost two decades.
The tenancy intentions of Arida have not been made public, with Hemmes leaving it to the next owner to negotiate.
The neighbouring Hemmes-run restaurant The Fish Shop has been on a $170,000 a year lease which Hemmes could continue subject to the buyers' wishes.
It has been many restaurants through the decades including Juillet's, Moran, Giraffe, Clochemerle, Lotus and Merivale.
At one point it was leased by Thelma and Terry Clune, the gallerists, who are best associated with the adjacent acclaimed Yellow House. 
The corner building has been listed for sale with a reported $11 million plus guide. 
It has been offered through Alan Levy from Metro Commercial inconjunction with the local R&amp;W office.
The building has been scheduled for May 8 auction by the unassuming Justin Hemmes. 
However the seemingly full of themselves listing agents claim in the marketing it was "without doubt a listing of nationwide magnitude, the coming to market of this block is a headline-worthy event."
Set in the corner of Macleay Street and Challis Avenue, the mixed-use freehold investment located features four large apartments and two retail shopfronts. 
It boasts Merivale’s Fish Shop at street level and the Arida clothing retail outlet next door. 
There is current $520,950 total rental income with $328,550 from the shops and $192,400 from the four upstairs units per annum. 
The total internal 741 sqm area comprises 300 sqm of the ground floor, 225 sqm of the first floor, and 216 sqm of the second floor. 
There are $10,000 estimated council rates, $93,000 water rates and $55,000 land tax. 
Through the years, as the Hemmes family expanded their fashion and restaurant business, they also started buying up the buildings in which they operated their different businesses.
One of their first Merivale coffee shops was in Potts Point.
Justin Hemmes' late father, Mr John bought the property at 61-63 Macleay Street for $1.428 million in 1988 from Peejays Developments.
The property is part of the Santa Fe row of 1905 Queen Anne style terraces that once ran from 45 to 63 Macleay Street.
It is part of the surviving half of a set of 10 terraces, designed by architect Maurice B Halligan, some of them demolished to make way for the Chimes. 
 
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Hemmes listing on Macleay Street, Potts Point offers option to buyer 

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Bomera, the heritage sandstone Italianate mansion on the Potts Point clifftop, has been listed for sale publicly after failing to find an off market buyer.
It was six years ago that Bomera was bought for $12.5 million by Leanne Catelan, the daughter of the late RP Data founder Ray Catelan.
Bomera had had ambitious $25 million hopes in 2010, but sat on the market for two years before Catelan swooped on the 160 year old mansion.
Catelan bought it from Spanish property developer Jorge Fernandez and wife Monica, who had commissioned heritage architects Graham Brooks &amp; Associates to restore the residence. 
They had bought the property in 2001, paying $6.55 million. It had been owned by the Defence Department, along with its neighbour, Tarana, since the 1940s. Tarana, which was also acquired by the Fernandez's, was converted into a luxury triplex. 
<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/2019/3/15/Bonera.jpg" alt="">
Built by architect John Frederick Hilly for colonial merchant William McQuade in 1856, Bomera sits on a sprawling 2,150 sqm Wylde Street parcel, in landscaped grounds featuring a swimming pool.
It has five bedrooms, a grand ballroom overlooking Woolloomooloo Bay, a musician's gallery, billiards room and wine cellar.
The former stables are now a three bedroom cottage.
The listing has been some 18 months in the making.
Local Potts Point agent Jason Boon was believed to be in talks to grab the prestige listing, visiting the home in August last year (above) when he posted on Instagram.
LJ Hooker Double Bay agent Bill Malouf has since secured the listing, in conjunction with Ballard's Clint Ballard.
And they are not revealing Catelan's price desire.
 
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Potts Point trophy Bomera officially hits the trophy home market 

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The film director behind Mad Max and Babe, George Miller, has secured $19.8 million for the historic art deco The Metro theatre in Sydney's Potts Point which was listed with $20 million plus hopes.
ASX-listed Abacus Property Group has emerged as the buyer of one of Sydney's oldest cinemas, the historic Metro Theatre in Potts Point, but have not revealed their intentions.
Local residents had hoped it would be bought by the Sydney City Council, but Clover Moore ruled out the acquisition amid her battle with rival councillors who'd advocated the move.
It has been Miller's headquarters for more than three decades, but now redundant given his relocation to Fox Studios.
It was built in 1939 as <a href="https://www.propertyobserver.com.au/https://dictionaryofsydney.org/media/5557" target="_blank">The Minerva Theatre</a> opening with a production of Idiot's Delight. Sam Hood took photos.
Metro-Goldwyn-Mayer purchased the building in 1950 and converted to a movie theatre, renaming it the Metro Cinema with stars such as Elizabeth Taylor and Richard Burton attending premieres.
Then as a theatre it hosted performances including the 1970s musical Hair by Harry M. Miller.
<img src="https://www.afr.com/content/dam/images/g/y/x/8/m/p/image.imgtype.afrArticleInline.620x0.png/1507526409727.jpg" alt="The Metro, Potts Point, Sydney." width="620" data-src="https://www.afr.com/content/dam/images/g/y/x/8/m/p/image.imgtype.afrArticleInline.620x0.png/1507526409727.jpg">
The 2300-square-metre property at 30 Orwell Street was on the market for the first time in 35 years, but had been available for lease.
Miller had struggled with maximising its usage and potential in recent years, with various concepts floated but not implemented.
He was seeking $25 million plus at one stage for its sale.
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In 2018, Liberal councillor Christine Forster put a motion to the council to buy the property as a town hall, similar to those in Glebe and Balmain, and could be used for film festivals, as a theatre, arts venue, function centre, bike hub, local museum and for exhibitions and meetings.
“The Metro represents a huge opportunity for the local community as it has so much heritage value and is so important to the area,” she said.
“There’s a precedent too for something like this, when we spent $15 million on buying the Tabernacle in Darlinghurst and converted it into the Eternity Playhouse.
“It would be terrific to put it into public hands for community use.”
Team Clover, comprising of councillors Jess, Scully, Philip Thalis, Robert Kok and Jess Miller voted against an outright purchase of the Metro.
Previously a spokesperson for the Lord Mayor had advised “after corresponding with the local community late last year, Lord Mayor Clover Moore forwarded the suggestion that the City of Sydney should purchase the Metro Theatre in Potts Point to City staff for consideration”.
Councillor Jess Scully, from Team Clover, sent an email to a local resident passing the buck for any purchase to the State Government.
City Hub reported she said “the Metro Theatre should also be considered within the broader context of the NSW Government cultural infrastructure strategy”.
The local resident Warren Fahey noted at the time that "we do feel the City has turned its back on us" with Potts Point a "disenfranchised part of the City of Sydney".
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George Miller sells art deco Metro theatre in Potts Point to Abacus

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Retired car dealer Laurie Sutton is hoping to ride the buoyant 2018 Potts Point penthouse apartment market.
He has listed his apartment atop the Rockwall Apartments complex (above and below) in the prime north-west facing corner with views over the harbour and CBD skyline.
It was <a href="/news/villard-potts-point-penthouse-sells-for-15-5-million">foreshadowed by Property Observer</a> last November.
The tenants left just prior to Christmas for new digs in nearby Manar.
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There has been a reported $12 million to $13 million price guide, with no doubt buyers going even higher if competition emerges.
Sutton paid a record $8.85 million in 2011 for one of the two penthouses crowning the building which was completed by Mirvac just over two decades ago.
<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/2019/2/1/Rock3.jpg" alt="">
He bought it from CBD Business Systems director Bill Smith, who had paid $5,775,000 in 2005 when buying from Virginia Carmichael.
The penthouse, spanning 624 sqm, has two bedrooms, two bathrooms and a balcony with gun barrel views over the Sydney Harbour to the Bridge.
 
 
 
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Rockwall, Potts Point penthouse listed by Sutton family after penthouse sales flurry

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Architect John Bede Barlow designed a Potts Point home for his cousins, the Lane-Mullins family at the end of the 19th century.
The 1892 house at 8 Challis Avenue was named Killountan, joining other well-known Barlow homes, including Keadue in Elizabeth Bay and St Kevin's in Woollahra.
The Toohey's director, John Lane-Mullins, who was a longtime member of the NSW Legislative Council, was a man of considerable means. The father of five was a leader of Roman Catholic laity, including being treasurer of the St Mary's Cathedral Building Fund from the 1870s. He was a notable patron of the arts, and foundation president of the Australian Ex Libris Society. 
His family was from County Cork, Ireland, where the family home was also named Killountan.
The home, set between Macleay and Victoria streets, has been known for the past three decades as Simpsons of Potts Point, a small boutique hotel of 14 rooms.
But its current listing seems quite likely to see its return to its original state as a residence, the only privately owned freestanding mansion of its era in the area.
It was during the 1920s when the house known as Belgravia was split into six apartments. They were earning 320 pounds annually when offered for sale in 1944.
Then in the late 1980s, the Farris family undertook a year-long restoration.
Without ostentation, its facade was a statement against the vulgarity of Victorian architecture of the day. There was red brick with stain glass windows and timber ornamentation. 
Its now restored decorative elements were reserved for inside with missing mouldings replaced, elliptical Tudor arches highlighted, and a new internal staircase built, in the same style as the one that had been demolished decades earlier. A conservatory was erected and the garaging built underneath. 
The wooden columns at the entrance were uncovered, recreating the front porch.
There's precedent for the conversion back to residential, touted by the listing agents, Ken Jacobs at Christie's International and William Manning at McGrath.
Set on 650 sqm, the buidling has been on market for over 250 days.
When last offered in 2002, the property sold for $2,850,000.
Over the past 24 months there have been two notable terrace sales in Challis Avenue, <a href="/news/australian-record-terrace-price-set-again-in-potts-point">including one reputedly for $14 million</a>.
Restauratuer Peter Doyle's Cicada is no longer, having been restored and sold as a residence for $13 million in 2016. 
Killountan, which featured in Our Beautiful Homes: Australia's upper middle class in the Edwardian Age, last traded when bough by Keith Wherry in 2002 for $2.85 million. 
Barlow built houses for Sydney's new rich professionals, mostly Catholics, with big families. His other 1892 architectural jewel is St Kevin's, Woollahra, designed for Dr Patrick Collins and his wife, Margaret, whose ageing daughters kept the home until 1976 when then adman Leo Schofield and his then wife, jeweller Anne, saved the home from its infirm state after paying $182,250. 
Architect Peter Stronach, who helped restore the 1892 St Kevins for the Schofields, once noted the style of the 1890s house was Italianate, Victorian, wedding-cake style, with lots of wrought iron.
Bede Barlow instead built face brick houses with no wrought iron, but rather timber and brickwork decorations, along with verandahs, the beginning of an acceptance of a local style, rather than a copy of a European style. 
St Kevin's last sold for $2.2 million in 1994 when bought by Paul Keating when he was Prime Minister.
"No part of the house has been changed in concession to passing infatuations with fashionable configuration," Keating once told me.
"Leo saved it, and I finished the task."
Barlow, the president of the Institute of Architects of NSW between 1897 and 1902, lived at Airmount, Waverley, now the Christian Brothers' College, with wife, Mary with their only son having been killed at Gallipoli.
An earlier version of this article was first published in The Weekend Australian.
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