<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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Omega, a Glebe development at 39 Greek Street, is marketing it apartments with the advertised benefit of low strata fees.
Boasting strata levies half those of highrise apartment buildings, due to the lack of pools, gyms and concierges, instead offering a rooftop garden, they have been advertising the 10 under $650,000 to first home buyers.
The building is four-storeys and is designed by Environa Studio, and developed by LIVstyle Group.
In total, Omega has 16 one-bedroom apartments of 50 to 52 square metres internally, plus from 10 to 44 square metres externally. Without parking, they cost $545,000 upwards. For those with parking the price is from $640,000.
There are also a couple of two-bedroom terraces, from 88 to 91 square meters internally and with 31 square metres externally, from $905,000, both with parking. The two three-bedroom apartments span 102 square metres internally, plus nine square metres externally, from $965,000 with parking.
It is the second to its mirror-image, Alpha, which sold before marketing material was produced.
Peter Shield, project director at Ray White Real Estate Erskineville, said that they’re well priced.
“Because this is a boutique-size building without expensive communal facilities, levies will be low so on-going costs will be extremely moderate,” said Shield.
“Somehow people heard about the [Alpha] development well before we were ready to launch. They didn’t need to see glossy images or read purple prose, and were not put off by the fact we only had basic floorplans, a price list and some architectural sketches,” he said.
Property Observer imagines it wasn’t an accident that buyers heard about the development, particularly as they note that a friend of the developer was provided a preview and bought an apartment, however concedes to Shield’s point that “Opportunities in Glebe are rare”.
Omega is set for late-2015 completion, with forecasted weekly rents of $600 to $650 for one-bedroom units, and $800 to $850 for two-bedroom units.
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Boutique Glebe apartment complex with low strata fees coming to market

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Already the questions are streaming in: how will the new Sydney airport impact on property markets?
Will Badgerys Creek make Penrith become a boom town? Will Liverpool surge? Where should I buy to benefit?
Many issues are evident here. One is that investors are constantly trawling for opportunities and for events that will be game-changers. Some are looking for shortcuts to wealth and see an announcement like Badgerys Creek as the door to a rapid windfall, if they can zero in on the best places to invest.
Another issue is about risk in real estate. And another addresses the elements that generate out-performance in real estate investment.
Let’s take the last issue first. There’s no doubt infrastructure is the biggest creator of real estate wealth. New infrastructure is the ultimate game-changer.
And the most influential is transport infrastructure.
<blockquote>
I suspect more people will waste money buying in haste than make money by getting it right.
</blockquote>
Hotspotting research shows that suburbs with commuter train stations have higher capital growth rates than those without. A new motorway or bridge can revolutionise the appeal of a location by making it more accessible. The intersection of two motorways is a magnet to warehousing and logistics real estate – and other forms of property spin off it, including residential.
The thing about a major new international airport is that it’s a double-edged sword, it can create problems as well as opportunities. Property under the flight path may suffer while others will benefit from the economy generated by the facility.
It’s similar with a commuter train station: the ideal is to be within walking distance but not so close as to suffer from the noise and the traffic.
The most direct real estate beneficiaries of a new airport are outside the residential sphere. A new airport creates, firstly, demand for hotels and secondly, for warehousing and other light industrial property.
Residential is an indirect beneficiary because an international airport creates a new economy with tens of thousands of jobs, and people like to live close to their work.
But perhaps the core issue is risk. When a project like Badgerys Creek is announced, lots of people dash about looking for ways to make a killing from buying strategic real estate. But the airport may never happen. This is the ultimate political football and there will much upheaval along the road to construction. Plans for a second Sydney airport have been talked about for close to 50 years. The Prime Minister’s announcement does not make this a certainty.
If it does happen, Badgerys Creek won’t be reality for maybe 10 years – although the Prime Minister hopes construction will start in 2016. But before that can happen, big issues need to be sorted, including funding, road and rail links, project partners and the issues of noise and flight paths.
Long-term, the impact of a new airport at Badgerys Creek would be enormous. Short-term, many investors will expend considerable energy trying to find out how best to turn the federal government’s decision into a personal windfall.
Many will feel they need to act urgently or they’ll miss a major opportunity. My advice is to take a cold shower, settle down and watch what happens.
I suspect more people will waste money buying in haste than make money by getting it right.
You can contact Terry via  <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> or on <a href="https://www.twitter.com/hotspotting" target="_blank">Twitter</a>. 
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terryryder-YECXbqmri2

Sydney's new airport at Badgerys Creek will be a double-edged sword for investors

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A private investor has outlaid $12.2 million for a freestanding office/warehouse facility in Lidcombe in Sydney's west.
Located at 42 Birnie Avenue, the modern warehouse has a site area of 13,850 square  metres and a building area of 8,069 square metres.
The property comprises two units, with unit 1 featuring a modern three story freestanding office building, ground floor cafe and a high clearance warehouse to the rear.  The total area of unit 1 is 5,229 square metres.
The second unit 2 is a two-story office building with attached high clearance warehouse. The total area of unit 2 is 2,794 square metres. 
The vendor was TH &amp; TH Chung.
The sale was negotiated by Adam Micola of Savills Industrial .
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Lidcombe, Sydney office/warehouse fetches $12.2 million

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A home sales contract to an offshore Chinese buyer is no guarantee of yielding a settlement.
A post-Christmas $6.15 million sale to offshore Chinese buyers of a prestige Rose Bay mansion has failed to proceed.
Property Observer gathers the buyers defaulted on their intended acquisition of <a href="https://doublebay.ljhooker.com.au/MDDF93" target="_blank">1 Cecil Road</a>, with the buyers attributing the changed circumstance to a failure to secure Chinese government approval in the transfer of the required funds.
The five bedroom Rose Bay mansion on a lucky 1,088 square metre block was relisted for auction this week, selling shortly after it was passed in at $5.65 million.
The LJ Hooker Doube Bay agent Alain Waitsman secured a slightly higher undisclosed price in post-auction negotiations after its auction at Cooley Auctions.
The recent sale collapse comes at a time when vendor interest is strong in certain suburbs buoyed by the Significant Investor Visa (SIV) scheme, the so-called golden ticket which gives residency to wealthy foreign nationals who invest $5 million in government bonds or eligible ­managed funds.
The Australian Financial Review noted recently the slow-starting scheme will hit $1 billion this month with a further $2.6 billion worth of applications lodged.
The Department of Immigration and Border Protection (DIBP) issued a further 30 visas during March.
It took the total number of visas issued since late 2012 to 174, a $870 million tally. The appeal of the SIV program for Australian property vendors is that they visa recipients inevitably buy a home. 
Wealthy Chinese nationals have made up 85% of visas granted. The figures show Sydney has been trumped by Melbourne as the investment location destination of successful applicants with 47% in Victoria and 37% in NSW.
The offshore Chinese applications make up 91% of the 772 applications that have been lodged to date.
The scheme requires that a minimum of $1.5 million of the required $5 million be invested in NSW Waratah Bonds was boosted by an expansion of the ­qualifying managed fund investments late last year to include derivates, annuities, mortgages and interests in unregulated managed funds.
The Australian Private Equity and Venture Capital Association Limited (AVCAL) recently sought an even broader program in its submission to the Department of Immigration and Border Protection review into the SIV program with the suggestion offshore investors be allowed to allocate capital to venture capital and private equity opportunities.
 
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Chinese buyer defaults on Rose Bay prestige offering amid SIV surge

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More than 100 of the 120 apartments offered in the second stage release at Sydney’s tallest residential development sold this weekend following the Saturday morning launch.
As of Sunday, 101 studio, one, two and three bedroom apartments had sold, with the Financial Review reporting that nearly 90 had sold by 10am on Saturday. Prices for studios began at $595,000, with a three bedroom apartment selling for $4.38 million.
Developed by Chinese state-owned developer Greenland Holding Group Co, the $680 million development will be 66 storeys and 235 metres tall upon completion, making it <a href="/expert-insights/buying/opportunity-to-buy-the-highest-penthouse-in-sydney">Sydney’s tallest residential tower</a>.
<a href="/expert-insights/buying/greenland-centre-launches-second-sales-stage">Greenland Centre’s entire first stage release has sold out</a>. Greenland Holding Group has reportedly reserved 40 to 50 units to market in Singapore and Hong Kong later this month.
Penthouses in the complex, which will offer buyers the highest view in Sydney, have not yet been released. 
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Greenland Centre sells almost entire second release in two days

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A reconstructed harbourside apartment on the tip of Sydney’s Elizabeth Bay peninsula has been listed with expectations over $1.8 million.
A three bedroom home in a former life, the <a href="https://www.realestate.com.au/property-apartment-nsw-elizabeth+bay-116670879" target="_blank">Elizabeth Bay Road apartment</a> has been renovated for the first time in two decades. Interiors were designed by Greg Natale, the man behind fashion designer Leona Edminston’s headquarters and a number of Sydney venues including the now-closed Nevermind, with its mouth shaped urinals.
The renovated apartment at Elizabeth Bay’s Oceana building is a somewhat more restrained affair, with a muted grey and purple colour palette and luxury finishings, including basaltina stone floors in the living and dining areas and polished stucco walls.
It is being marketed by Ian Campbell and Penny Timothy of Ray White Elizabeth Bay. Of the new fitout, Campbell said Natale and the owner completely reconstructed the apartment’s interior.
“This is a home of absolute sophistication - the detail in the interior design is without peer,” said Campbell.
“Before the current owner purchased the property in 2011, the home had not been renovated in more than two decades.
“The owner saw huge renovation potential and invested substantially to create streamlined, luxurious living.
“The owner worked with Mr Natale and gutted the entire apartment - they removed walls, floors and ceilings and basically rebuilt from scratch.
“This is a home that doesn’t need a thing added, every element is custom made - it is perfectly complete,” he said.
While the home is marketed as a two bedroom apartment, it is currently configured as a one bedroom, with the second room acting as a walk in robe and study. The residence’s main bedroom includes a separate balcony with water views.
86/108 Elizabeth Bay Road goes to auction on May 15 at 6:30pm.
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Renovated Sydney waterfront apartment hits market

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The Liberal identity Nick Di Girolamo, the former director of the ICAC-investigated Australian Water Holdings, has sold his four bedroom Sydney home.
The Henley riverfront fetched $4.8 million on its February delayed settlement terms having been <a href="https://www.realestate.com.au/property-house-nsw-henley-115148907" target="_blank">listed for its marketing campaign late last year</a>.
The pricey property came up for sale shortly before the late 2013 article by Fairfax Media reporters Kate McClymont and Linton Besser that the Independent Commission Against Corruption had begun formal inquiries into the affairs of Australian Water Holdings, with the corruption watchdog seizing files concerning the company.
The house had been briefly for sale in 2011 having been bought in early 2010 for $4.5 million in the name of Nick's wife, Jodie Di Girolamo. The eventual $300,000 price gain barely covered the initial $255,000 stamp duty costs.
The waterfront property had been listed with $4.75 million plus price indications through Matthew Ward at Ward Partners.
It is an small, yet expensive riverfront, suburb with few sales, making the median price difficult to regularly determine, but in 2011 it was at $3.3 million, according to RP Data, with the highest sale on the street being $6.65 million in 2010.
Property Observer gleans the couple had previously lived nearby at Sherwin Street, Henley, in <a href="https://www.homehound.com.au/15+sherwin+street+henley+hunters+hill+nsw+2110/" target="_blank">a 1925 house that Jodie sold for $2.25 million in early 2010</a> (pictured below). It had cost $1.2 million in 2002.
<img src="/images/2014/04/16/henley-april-16-two-pic.jpg" alt="">
The couple both owned the prior home in Russell Lea, bought for $260,000 in 1994 and sold in 2002 at $750,000.
The recently sold 28 William Street riverfront property was marketed as showcasing a desirable north easterly aspect with magnificent water views. It facilities included boat shed, slipway, cradle, winch, jetty and pen. The 256 square metre two level house sits on a 986 square metre block with level lawns gently descending to the waters' edge. "It has enormous scope to renovate or rebuild your dream home," the Ward Partners' marketing suggested of the 1950s home which was renovated in 2000. 
The former head of Australian Water Holdings Nick Di Girolamo was just an “old fashioned shyster, fraudster”, counsel assisting the Independent Commission suggested at the recent hearing.
Born in 1970, Di Girolamo went to St Patrick's school Strathfield with the Obeid family boys and is best friends with Eddie Obeid Jr, who is godfather to one of his children.
The former managing partner of Sydney law firm Colin Biggers &amp; Paisley joined Australian Water, then Rouse Hill Infrastructure Consortium, in 2005.
He allegedly sold the Obeid family a 30 percent stake in Australian Water Holdings for $3 million in November 2010.
He stands accused of "milking" Sydney Water for millions of dollars in expenses under a contract to supply water infrastructure, including gifts and donations to the NSW Liberal Party.
The <a href="https://www.propertyobserver.com.au/https://www.thehomepage.com.au/property/residential/freemans-reach-2756/643587" target="_blank">Di Girolamo couple also co-owned a colonial sandstone Freemans Reach weekender</a> (pictured below) with former business associate John Rippon and his wife, Sheenah, and another co-owner, Claudio Tropea, each taking a third stake in the holding on its 2006 purchase. The eight hectare property, known as Wellow Farm, cost $1.25 million in 2006 and was sold after disputation between the couples, at $1.25 million last year.
Possibly one of its selling points was its irrigation licence for 27 megs.
<img src="/images/2014/04/16/freemans-reach-april-16.jpg" alt="">
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Nick Di Girolamo, the Australian Water Holdings former director, sells Sydney riverfront for $4.8 million 

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Looking to revitalise North Sydney, an area normally known for its businesses rather than its residential opportunities, Skye by Crown’s construction has officially commenced at 211-223 Pacific Highway.
Crown Group, who are developing Skye by Crown, are looking to make the development one of the most iconic apartment buildings in North Sydney, with design by renowned architect Koichi Takada.
The 20-storey building, with 242 apartments, will also include a top-floor gym, an infinity edge rooftop pool and views over the area.
To date, more than $200 million of apartments have been sold, including two penthouses – sold for $3.38 million and $3.465 million.
Earlier this month, CEO of Crown Group, Iwan Sunito, and North Sydney Mayor, Jilly Gibson, attended the turning of the first sod, marking the beginning of construction. This was after the first stage of demolishing a pre-existing office building, symbolic of the change they want to see.
<img src="/images/2014/04/16/2014_04_11_Skye_Ground_Breaking.jpg" alt="">
“Skye by Crown has been an exceptional project from the start – from the first stages of development and design selection through to one of the most successful sales launches in Crown Group’s history,” said Sunito.
They are now selling the last 13 apartments in the building, that will be completed within two years.
Gibson said that there is an effort to renew the area.
“Developments such as this cement North Sydney’s status as a growing commercial and residential district,” said Gibson.
“Skye by Crown will be home to hundreds of new North Sydney residents and will provide new eateries and retail outlets when completed in 2016,” she said.
The $236 million development launched in June. The final apartments selling include a one-bedroom apartment with study for $990,000. Two-bedrooms from $1.09 million are also available, as well as a final penthouse – a three-bedroom offering at $2.755 million.
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Skye by Crown construction commences

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The announcement of the Badgerys Creek airport for Sydney will potentially provide another growth spurt for western Sydney’s properties, with towns as far out as Mittagong, Bowral and Goulburn expected to appreciate, according to Raine &amp; Horne.
It appears that with the new infrastructure and subsequent jobs boost of 60,000, demand may increase in the area.
Suggested areas of growth include:
<ul>
<li><a href="/news">Green Valley</a> </li>
<li><a href="/news">Liverpool</a> </li>
<li>Southern Highlands</li>
</ul>
Source: Raine &amp; Horne real estate agents
CEO of Raine &amp; Horne, Angus Raine, also noted that the commercial, office and industrial space should see a significant increase in demand with logistics and transport firms expected to set up in areas with close access to the airport.
The Urban Taskforce has also pointed to the growth potential inherent in the Badgerys Creek airport.
CEO Chris Johnson said that it is a boost for the whole of Sydney.
“A new airport in Western Sydney will be the catalyst for new growth, new jobs and new infrastructure,” said Johnson.
“Just as the Olympic Games became a boost for Sydney’s development so too the new airport be a game changer for the whole of Sydney but particularly for Western Sydney.”
He also noted that Sydney’s metropolitan area’s planning will also require attention as to focusing where jobs are located and how connecting infrastructure is planned.
“Research is needed on how an airport can maximise jobs in the twenty first century. The concept of the Aerotropolis has been developed to reinforce the role of an airport as a jobs generator,” he said.
This is largely agreed upon by the Urban Development Institute of Australia (UDIA) NSW, who pointed to the importance of the infrastructure coming in quickly.
The $10 billion infrastructure package has UDIA NSW chief executive, Stephen Albin, asking for a number of infrastructure boosts.
These include:
<ul>
<li>Extend the South West Rail Link to the airport and further north connecting to the North West Rail Link 
</li>
<li>Provide better link infrastructure to Port Botany and Kembla 
</li>
<li>Improve poor road access around Fairfield 
</li>
<li>Rezone to facilitate the development of land adjacent to the airport</li>
</ul>
“By establishing an airport at Badgerys Creek Sydney's West will turn from a political to an economic powerhouse - creating new jobs and transport infrastructure in close proximity to where the bulk of Sydneysiders choose to live,” said Albin.
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Sydney’s new airport may see property values fly

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The Newport home of legendary jazz musician James Morrison has been finally sold, some months after being relisted with reduced $3 million plus price expectations.
The Eyrie, an unusual sandstone five-bedroom house with tower on a 1,665 square metre block at Bungan Head, last traded for $790,000 in 1994 when bought by James and Judi.
Coming with views of both Newport and Bungan beaches, it was marketed also as a potential development site.
Its listing agent Geoff Grist was initially seeking $3.75 million-plus for rendered sandstone house, The Eyrie last year.
The sale price is undisclosed on Grist's <a href="https://whychoosegeoff.com.au" target="_blank">website</a>.
<a href="/news/nsw/trumpeter-james-morrison-lists-the-eyrie-on-bungan-head">It was listed in March 2013</a>.
It has has sweeping lawns, a 20-metre lap pool, a Balinese cabana, pizza oven and a guest cabin overlooking the pool.
When it was bought in 1994 from Ross Barwick, Sir Garfield Barwick's son, it was being advertised as an "unfixable dump".
Title Tattle recalls when the then neglected estate was auctioned in 1994 it was hotly contested by the tenants of 14 years, Rodney Booth and Sue Cummings, but a determined Morrison paid $90,000 more than the reserve.
Morrison sold his other Newport home for $935,000 shortly after.
RP Data list around 116 properties on the road, with 18 sales above $2 million over the years. Of these there were five sales above $2 million last year. There have been three sales above $4 million, topped off at $4.65 million in August 2006 some 11 months after being listed with $5 million hopes. There are six properties with 1,500 square metres or more on dress circle strip.
The name Bungan is first recorded in a survey in 1814 as Bongin Bongin, referring to the 700 acres which included present day Mona Vale and Bungan granted to Robert Campbell junior.
Bungan Beach is bordered by Mona Vale to the south and Newport to the west and north.
The land rises to the summit of Bushrangers Hill at 103 metres, a natural lookout point - which despite the name has no known connection with bushrangers.
In 1890s Alfred Yewen built a cottage, Bungania, at the north end of the beach headland.
Before the 1920s few people lived at Bungan.
Mona Vale library records reveal in 1908 that the Napier Thomson family of Whitecourt, Cremorne built the Eyrie, presumably then a one bedrrom cottage on a much bigger land holding.
In 1919 Adolph Albers built Bungan Castle atop Bungan headland.
Transport in those days was by horse and cart or on foot, the library archives noted. Families kept a few cows to supply milk. Apparently time was spent walking, fishing, boating, or bathing. And presumably entertaining themselves with musical instruments.
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