<a href="https://www.apartments.com.au/developers/consolidated-properties">Consolidated Properties Group</a> (CPG) is approaching the launch of its latest Brisbane riverfront development, Castile, on the dress circle Skyring Terrace in Newstead.

VIP buyers are now being engaged, with a full public sales launch coming later this year.

Positioned as the final opportunity to secure a new absolute riverfront residence on the East bank of Newstead, Teneriffe or New Farm, Castile at 47 Skyring Terrace has been designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> as a timeless addition to the Brisbane skyline.&nbsp;

[smartcode_project:default project_id=150489 project_image_fid=371113]

The name Castile draws on themes of permanence, sophistication and legacy, reflecting a broader vision centred on enduring architecture and timelessness in the rarest of riverfront positions.&nbsp;

CPG Chairman and CEO Don O’Rorke said the project had been envisioned as a future Brisbane icon.&nbsp;

“With 47 metres of direct river frontage and never to be built out views, 47 Skyring Terrace is the definitive address on the Brisbane River,” O’Rorke said.&nbsp;

[smartcode_project:default project_id=150489 project_image_fid=371114]

“Rather than following trend-based apartment design, Castile draws inspiration from Brisbane’s great heritage buildings, reinterpreting classical architecture into a contemporary riverfront landmark designed to stand proudly for the next 100 years,” he said.&nbsp;

The approved development will comprise 227 apartments across a 25-storey tower alongside a boutique six-storey riverfront building of just 12 residences.&nbsp;

Construction is scheduled to commence in September 2026.

[smartcode_project_cta:default project_id=150489]

Joel Robinson

CPG unveils Castile Newstead ahead of upcoming sales launch

Australia’s online shopping habits have shifted dramatically over the last decade. As eCommerce volumes surged, so too did the frustrations that came with traditional parcel delivery: missed deliveries, long Post Office queues, parcel theft and the challenge of being home during business hours.

Australia Post’s Parcel Lockers emerged as one of the more practical responses to that changing consumer behaviour.

What started as a relatively niche delivery option has evolved into a nationwide network of more than 1,400 self-service Parcel Lockers positioned at train stations, shopping centres, supermarkets and Post Offices across the country. The system allows Australians to send, collect and return parcels 24 hours a day, fundamentally changing how many people interact with deliveries.

The appeal is relatively straightforward: flexibility.

Instead of waiting at home for a delivery driver or rushing to a Post Office before closing time, users can direct eligible parcels to a Parcel Locker location of their choice. Once the parcel arrives, Australia Post sends a notification with a collection code or QR access through the AusPost app, allowing customers to retrieve their package at any time within the collection window.

For apartment residents in particular, the system has become increasingly valuable.

Higher-density living has created logistical challenges around deliveries, especially in buildings without concierge services or secure parcel rooms. Missed deliveries are common, while parcel theft has become an increasing concern as online shopping volumes continue to rise.

Australia Post itself has repeatedly highlighted the growing issue of “porch pirates” during peak shopping periods, encouraging customers to use Parcel Lockers as a safer alternative to unattended home deliveries.

That security aspect is one of the key reasons the Australia Post Parcel Locker network has grown so rapidly.

Parcel Lockers are positioned as secure, monitored collection points that reduce the risk of theft while also improving delivery efficiency for Australia Post. Instead of multiple redelivery attempts, parcels can be consolidated into a single secure destination.

The Parcel Lockers themselves are free to use through a MyPost account and support a range of parcel sizes up to 16 kilograms and dimensions of approximately 35 x 44 x 61 centimetres.

Beyond receiving parcels, the system has increasingly become integrated into the broader eCommerce ecosystem.

Customers can now use Parcel Lockers to return online purchases, while retailers have embraced the model as a way to improve delivery success rates and reduce friction in the shopping process. Australia Post has actively expanded partnerships with major retailers and promoted Parcel Lockers as part of a broader out-of-home strategy.

The timing of that expansion aligns with broader changes in Australian shopping behaviour.

The acceleration of online retail during and after the pandemic placed enormous pressure on delivery infrastructure. Parcel volumes reached record highs, particularly during Black Friday and Christmas periods, with Australia Post delivering more than 100 million parcels during peak festive seasons.

That growth forced logistics providers to rethink the “last mile” of delivery, widely regarded as the most expensive and operationally difficult stage of the process.

Parcel Locker systems have increasingly been viewed as part of the long-term solution.

The concept itself is not unique to Australia. Parcel Locker networks have become common globally, particularly across Europe and Asia, where dense urban environments and apartment living create similar logistical challenges. But Australia’s geography and suburban sprawl made adoption slower initially.

Now, however, the convenience factor is driving mainstream usage.

For commuters, Parcel Lockers near train stations allow parcels to be collected on the way home from work. For apartment dwellers, they remove the uncertainty around access and missed deliveries.

The rise of the AusPost app has also streamlined the experience, centralising notifications, tracking and Parcel Locker access into a single platform. Australia Post has increasingly pushed customers toward app-based delivery management, partly as a way to combat phishing scams and fake delivery notifications, which have become more sophisticated in recent years.

The Parcel Locker model is also beginning to influence property development itself.

Parcel management has become a growing consideration in apartment building design, particularly as online shopping becomes embedded in everyday life. Many new residential developments are now incorporating dedicated parcel rooms or Parcel Locker systems into foyers and communal spaces.

For developers, parcel management is increasingly viewed as part of the broader resident amenity offering, alongside gyms, wellness spaces and communal work areas.

That reflects a wider evolution in how residential buildings are designed.

Apartment buyers are placing greater emphasis on convenience, security and operational functionality, particularly in higher-density urban environments. Parcel delivery, once considered a minor operational detail, has become an increasingly important part of that equation.

Australia Post’s Parcel Locker network sits at the centre of that behavioural shift.

What began as a simple alternative delivery option has evolved into a key piece of infrastructure supporting Australia’s growing eCommerce economy and changing urban lifestyles.

And as online shopping continues to expand, the role of Parcel Lockers is likely to become even more embedded in how Australians live, shop and receive goods.

How Australia Post Parcel Lockers changed parcel delivery convenience in Australia

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

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

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

Sammut secures approval for debut Brisbane apartment development in Toowong

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

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

Sydney

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Café 53 to 55 Glebe Point Road in Glebe is up for sale, offering investors the opportunity to purchase a slice of Glebe’s coffee-sipping inner-city crowd.
Tenant The Wedge Espresso, is on a new 7 + 5 year lease, commencing from the 1st June 2014, and the building is just three years old.
The net income for the building is $52,000, with 3.5% annual increases.
It’s opposite Glebe markets, a busy location for locals, and despite its location being on Glebe Point Road it is shaped in such a way that it’s of a long-thin rectangular shape, with much of it opened up by large windows with benches inside, overlooking the footpath of Cowper Street. The front door is also on Cowper Street.
Marketed through <a href="https://www.commercialrealestate.com.au/property/2011211729/for-sale/nsw/glebe/retail%20%20" target="_blank">Deans Property, the site is asking for $849,000</a>, with the building covering 59 square metres.
It has a gorgeous fit-out at present, with corrugated-iron style back walls and feature art, menus on brown clipboards and small tables with plants in tin buckets and sugar in jam jars.
The café was established in October 2011.
When Property Observer visited last year, it was said to be some of the best coffee in Glebe, and was busy enough to suggest that other people believed the same. The only rivals it may have are Badde Manors and Clipper Café.
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jduke-EHk3XBmHkn

Buy into Glebe’s latte-sippers: The Wedge Espresso premises hits market

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The creative digital agency, T-Brone Productions, has moved into Nick Manettas’ $24 million York Street, Sydney building.
Manettas, the founder of Nick’s Seafood and Nick’s Bar &amp; Grill, has had success with a range of tenants at this building.
T-Bone Productions have leased 208 square metres at 7/61 York Street, Sydney. This will be on a three-year lease with a gross rental at $680 per square metre per annum, or $141,440.
Ray White Commercial’s John Skufris and Anthony Harris who negotiated the deal said that T-Bone Productions was moving into the building due to its larger size, having previously been located at King Street Wharf.
“This is a partitioned offering with meeting room, boardroom, two executive offices and communications room all within close proximity to Wynyard Station,” said Skufris.
The building offers the option of whole floor tenancies and exclusive use of oversized balconies.
Interest had been received from office, insurance and software groups among others.
On the ground floor is a café and there is also a basement bar, Stitch, created by Karl Schlothauer and Christophe Lehoux, known also for Darlinghurst's Pocket bar and Surry Hills, Foveaux Street's Button bar.
Internet service company Rakuten Linkshare has also leased 151.90 square metres on level four, at $625 per square metres per annum with a two year lease term.
In March Arch Underwriting took a three year lease over 208 square metres for $685 per square metre per annum.
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Nick Manettas’ Sydney CBD building sees T-Bone Productions move in

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DLA Piper's Sydney office has relocated from 201 Elizabeth Street to new premises at No.1 Martin Place in the heart of Sydney's business and financial community.
 Following one of the largest leasing transactions in the Sydney CBD last year, DLA Piper now occupies four floors in the 24-storey high rise building.
The building is owned by <a href="https://www.no1martinplace.com.au" target="_blank">No.1 Martin Place</a> Trust and the Charter Hall Office Trust.
They have taken a 10-year lease term, DLA Piper managing partner, Australia, Andrew Darwin says.
The new, predominantly open plan, office space was designed in consultation with Woods Bagot and was constructed by FDC. 
"The workspace aligns with key principles including connectivity, collaboration, confidentiality, efficiency, future proofing, apprenticeship and to support DLA Piper's global vision to be the leading global business law firm. 
"The client floor includes the latest in virtual meeting and other audio visual technologies, as well as large open plan function and meeting space, including a 400 square metre outdoor terrace," he said.
 The three work floors are connected with a central spiral stairwell, and include community and break out zones, quiet and meeting rooms, offices and workstation hubs.
DLA Piper was represented by Michael Kearins, director of Cushman &amp; Wakefield’s Occupier Services business. 
The leasing of No.1 Martin Place has been managed by CBRE’s James Patterson and Jenine Cranston in conjunction with Greg Fisher and Mark Semple of DTZ.
 
 
 
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jchancellor-FAypfDUnLy

DLA Piper relocate to No.1 Martin Place

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The 93 Bathurst Street, Sydney investment opportunity remains for sale.
Its net rent sits at $473,000 plus GST, fully leased to the global tenant in Patagonia.
<a href="https://www.propertyobserver.com.au/https://search.knightfrank.com.au/1498832" target="_blank">The property was passed in for $8.4 million</a> and remains under negotiation through Knight Frank agents Dominic Ong and Andy Hu.
The property is located on the southern side of Bathurst Street between George and Kent Streets, opposite Town Hall Square in the growing mid-town residential precinct.
The building underwent a refurbishment in 2010 including the installation of a new lift.
The Knight Frank marketing suggests the property will benefit from the CBD and South East Light Rail (CSELR) project which is due to be completed by 2019.
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Bathurst Street offering to benefit from the Sydney light rail

Subtle marketing but Opal Tower not expected to see bad luck

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The now commenced Brisbane City Plan 2014 offers up a number of lessons that could be applied to Sydney Metropolitan Strategy, according to Urban Taskforce CEO Chris Johnson.
The new plan for Brisbane aims to provide a multi-centred city, with elements of a corridor city. The idea is to plan development around transport nodes and keep suburban areas intact.
“The 2014 plan responds to increasing population growth by focussing new development in the city centre, the inner city, around employment hubs, major shopping centres, around transport hubs and along nine growth corridors with rapid transport routes,” said Johnson.
Brisbane City Plan allows for more code assessment, to reduce planning timeframes.
“Clearly Sydney and New South Wales will be left behind if Brisbane has a simpler planning system that encourages development. Only a month ago Plan Melbourne was released by the Victorian Government which also included code assessable approaches to encourage new development,” he said.
He also pointed to Brisbane’s new interactive mapping service that allows buyers to simply understand planning constraints on any site.
“A few weeks ago Gold Coast City Council released its new city plan which went even further in support of future growth. Many areas are proposed to have unrestricted heights and density particularly along light rail and public transport corridors,” he said.
“The recent activity in city plans from Melbourne, Brisbane and the Gold Coast demonstrate the drive these cities are undertaking to encourage growth within their cities.”
Unfortunately, he said, Sydney’s strategy began as a discussion paper in May 2012 and “seems to have become a victim of the failed NSW planning reforms,” he said, noting it is making Brisbane and Melbourne better organised to accommodate growth.
{module Do you think Sydney should use some of Brisbane’s planning reforms?}
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Should Sydney mirror Brisbane’s City Plan 2014?

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The end of the financial year is here, which means it’s time to look ahead at what the next may hold.
Adrian Wilson, principal and managing director of Wilson Property Agents, said that there are a number of things he believes will happen for Sydney’s inner city market.
“Predicting the future of the property market directly is tricky at the moment. Which part of the market you are interested in needs to be considered specifically, and this includes buying, selling, investing, developing or off-the-plan.
“These segments then need to be broken down by precinct, suburb, area and state before categorising them into price, size, location and opportunity,” he said.
Here’s how he thinks Sydney’s inner city market will perform:
<ul>
<li>BELOW $1 MILLION</li>
</ul>
High demand for quality one and two bedroom apartments
Good views, parking, high level of presentation, close to parks and water, or strong rental yield will all remain desirable.
Growth expectation: 4% to 7%
<ul>
<li>$1 MILLION TO $2 MILLION</li>
</ul>
Reasonable levels of demand to continue
Stronger activity in the early $1 million range, tightening towards the higher end of the price bracket
Currently around 50 properties advertised in this segment – which isn’t many
Most listings placed in Southern, Mid-City precincts and limited in Northern CBD, Hyde Park or Harbourside areas
Growth expectation: 2% to 5%
<ul>
<li>$2 MILLION PLUS</li>
</ul>
This prestige market has been quiet for some time but was bullish in October 2013 to March 2014 with 29 sales totalling $91 million
It had been up on a year previous (22 sales at $64 million)
Segment to stabilise
Growth expectation: 1% to 3%
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Sydney inner city market: End of financial year predictions

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The William Smart-designed semi, Ilari in Potts Point, listed at $5.5 million-plus, has been sold for $4.6 million to the Ainsworth family.
<a href="https://www.randw.com.au/1490419/" target="_blank">Ilari was listed</a> though Jason Boon and Geoff Cox of Richardson &amp; Wrench Elizabeth Bay.
The settlement documents show its buyer was Harold Ainsworth.
The three storey Federation house was sold by designer Johnson Chan, who paid $1.9 million in 2007 buying the property with a humble Tudor facade from barrister-cum-buyers agent Chris Curtis.
Inspectees were told a further $3.5 million had been spent on its substantial rebuild by Smart, of Smart Design Studio, who won <a href="https://smartdesignstudio.com/projects/residential/tusculum/" target="_blank">some 15 awards and commendations </a>for the work, including the 2012 AIA Architecture Award for heritage and interior design.
The four-bedroom home with a steel and bronze cantilevered staircase as its centrepiece was marketed as a mix of concrete, steel, glass, stone, timber and technology.
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Ainsworth family buy $4.6 million William Smart-designed Potts Point semi

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GUEST OBSERVATION
It’s been almost two years since the Living Away from Home Allowance (LAFHA) was reformed by the government, essentially limiting access to tax concessions to employees maintaining a home in Australia.
Since then, high-end rental properties in Sydney’s CBD have struggled to command the premium prices they had been achieving prior to the legislative changes.
Properties priced over $1,500 per week have had much higher vacancy rates since the reform, resulting in many owners having to lower their rental offer to secure tenants.
I recently came across a stunning penthouse in the northern CBD that was vacant for almost five months. In the end, the owners had to reduce their original asking price by more than 40% – from $2,400 per week down to $1,500 per week. We’ve also seen various instances of existing tenants wanting to renegotiate their current rental price so they are not paying over the current market average.
Two bedroom apartments located in the northern end of the city with fantastic views that used to achieve rental income of $1,200-$1,400 per week now have to consider offers of around $1,000 per week to keep vacancies to a minimum.
The good news is there is still a huge premium on one bedroom properties in the city, with some furnished apartments leasing for as much as $975 per week. And, inner city properties priced in the $500-$1,000 per week rental bracket seem completely unaffected by the reform – this buoyant segment of the market continues to be leased within days.
Rental properties on the eastern outskirts of the city particularly between <a href="/news">Woolloomooloo</a> through to <a href="/news">Vaucluse </a>also continue to thrive.
Landlords must be competitive and keep their properties presented at a high standard in order to secure tenants at the best rental price. It is important to remember, however, that meeting the market is essential. On average, properties priced over $2,000 per week have had to consider offers 10-20% lower than what they had previously been getting. In these instances, you are often more likely to benefit from accepting lower rent for a short period, than having the property vacant for a few weeks or in some cases a few months.
CARLIE ZIRI is a director of <a href="https://www.lifestylepropertyagency.com/" target="_blank" rel="nofollow">Lifestyle Property Agency.</a>
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cziri-avMho78xfG

Sydney’s high-end properties struggle to command top rental prices

<html><body>
There were two sales at $10 million or so in Bronte over the weekend.
The first was media scion <a href="/expert-insights/buying/lachlan-and-sarah-murdoch-secure-pre-auction-bronte-trophy-house-sale">Lachlan Murduch's trophy home sale</a> on Friday afternoon.
Then on Saturday afternoon 1,421 square metre Bronte site with two 1960s freestanding cottages sold for $10 million post-auction.
The block has sweeping 180 degree headland to headland views across Bronte Beach.
There was a $10 million vendor bid, but sold after to a Bronte family who will build a home on the St Thomas Street location. 
It was marketed by the Richard Wills estate agency as an "<a href="https://www.realestate.com.au/property-house-nsw-bronte-116098355" target="_blank">ideal private family compound</a>".
{qtube vid:=djtR7lICXOo}
Richard Wills told Property Observer the land was purchased in the 1950's and his late father, who was a builder and his brother, built the houses in 1960.
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