<p>The residential transformation of St Kilda Road is set to continue into with more new apartment plans for the sought-after boulevard.</p>

<p>Wing Tai Asia has lodged plans for a major residential tower at 464-466 St Kilda Road, replacing the former VACC House with an 18-storey mixed-use development designed around a retained heritage podium and a sculpted contemporary tower.</p>

<p>The proposal, prepared under Victoria’s Significant Residential Development with Affordable Housing pathway, would deliver 325 apartments and ground-floor retail across the prominent 4,653 sqm boulevard site in Melbourne’s St Kilda Road North Precinct.</p>

<p>The project centres on the adaptive reuse of the site’s heritage-listed VACC Building, an eight-storey office designed by Bernard Evans that has occupied the address for decades. Planning documents state the development would involve “carefully dismantling and conserving off-site the original metal fabric of the podium visible from St Kilda Road,” before reinstating it as the defining frontage of the new scheme.</p>

<p>Above the restored podium, Wing Tai is proposing a curvilinear residential tower. The scheme includes 172 one-bedroom apartments, 63 two-bedroom apartments, 66 three-bedroom apartments, and 24 four-bedroom apartments, alongside two ground-floor food and beverage tenancies fronting St Kilda Road.</p>

<p>The tower has been designed with substantial articulation and variable setbacks to minimise perceived bulk and maintain view corridors along the boulevard. Urbis, which prepared the planning report, said the design “has been significantly articulated through a curvilinear design” with “an interplay with materials, façade expression and depth” to create visual separation and visual interest.</p>

<p>The proposal also includes 254 basement car spaces, landscaped pedestrian links connecting St Kilda Road and Queens Lane, and a biophilic landscape strategy featuring canopy trees, raised planters, cascading greenery and a glass oculus pool overlooking the eastern frontage.</p>

<p>Planning documents confirm the $270.1 million development will contribute 3 per cent of project costs to the Social Housing Growth Fund as part of the application process.</p>

<p>Wing Tai acquired the St Kilda Road property in 2018 alongside Abacus Property Group for $95.38 million, before later consolidating ownership of the site. The property previously served as the Victorian Automobile Chamber of Commerce headquarters for around 60 years.</p>

<p data-end="345" data-start="110">The transformation of the St Kilda Rd boulevard is already beginning to materialise, with a number of high-profile projects recently completed, launched, or approaching launch as developers continue to back the long-term appeal of the precinct.</p>

<p data-end="689" data-start="347">Among the most notable recent completions is Louise by Samuel Property Group, just off the strip on Queens Lane, the same pocket Hirsch &amp; Faigen recently launched The Queensbury. Mirvac is too on the same street with The Albertine, which is approaching completion.</p>

<p data-end="689" data-start="347">Dexus recently secured approval for its slice of St Kilda Road, while Gurner also has approved plans for the precinct.</p>


Joel Robinson

Wing Tai unveils 325-apartment St Kilda Road tower on former VACC House site

<p>Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.</p>

<p>The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.</p>

<p>The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.</p>

<p>Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.</p>

<p>The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.</p>

<p><img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" /></p>

<p>SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.</p>

<p>“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.</p>

<p>The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.</p>

<p>“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.</p>

<p><img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" /></p>

<p>The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.</p>

<p>Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.</p>

<p>The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.</p>

<p>COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.</p>

<p><img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" /></p>

<p>“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.</p>

<p>The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.</p>

<p>The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.</p>

<p>Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.</p>

<p><em>Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a></em></p>


First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<p><a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.</p>

<p>The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.</p>

<p>The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.</p>

<p><img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" /></p>

<p>Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.</p>

<p>SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”</p>

<p>The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.</p>

<p><img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" /></p>

<p>The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.</p>

<p>A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.</p>

<p>Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.</p>

<p><img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" /></p>

<p>The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.</p>

<p>Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.</p>

<p>The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.</p>


First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

<p>Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;</p>

<p>Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;</p>

<p>The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;</p>

<p>The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;</p>

<p>Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;</p>

<p>Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;</p>

<p>“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;</p>

<p>“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."</p>

<p>Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;</p>

<p>"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;</p>


Bottega House secures landmark riverfront site in St Lucia 

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<p data-end="157" data-start="0">The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.</p>

<p data-end="459" data-start="159"><a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.</p>

<p data-end="459" data-start="159">[smartcode_project:default project_id=112661 project_image_fid=359603]</p>

<p data-end="651" data-start="461"><a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.</p>

<p data-end="950" data-start="653">Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.</p>

<p data-end="1081" data-start="952">“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.</p>

<p data-end="1081" data-start="952">[smartcode_project:default project_id=112661 project_image_fid=355935]</p>

<p data-end="1307" data-start="1083">Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.</p>

<p data-end="1522" data-start="1309">The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.</p>

<p data-end="1522" data-start="1309">[smartcode_project:default project_id=112661 project_image_fid=361052]</p>

<p data-end="1714" data-start="1524">Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.</p>

<p data-end="1945" data-start="1716">The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.</p>

<p data-end="1945" data-start="1716">[smartcode_project:default project_id=112661 project_image_fid=359607]</p>

<p data-end="2220" data-is-last-node="" data-is-only-node="" data-start="1947">More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.</p>
</section>
</section>

<p>[smartcode_project_cta:default project_id=112661]</p>


SIERA kicks off construction at Northcliffe tower Exhale

Western Sydney

<p>St Hilliers and First Point Property have lodged plans for the final stages of a $450-million precinct in north Penrith.</p>

<p>The duo will be adding a further 553 apartments in the final two stages, adding to the 540 apartments already built in the 40 hectare masterplan which Landcom started developing 10 years ago, transforming the former Department of Defence Site.</p>

<p>Crone Architects have prepared designs for the two-stage development in Thornton Estate, delivered across 11,000 sqm.</p>

<p>The mixed-used development will be located on Lord Sheffield Circuit,&nbsp;and will include retail and commercial space, along with residential apartments, which will be set across four towers.</p>

<p><img alt="" data-entity-type="" data-entity-uuid="" height="3030" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/thornton.png" width="2400" /><br />
<em>The&nbsp;development will include retail and commercial space, as well as residential apartments. Image by Crone Architects.</em></p>

<p>The five-storey podium delivered in stage one will feature retail tenancies, a mainline supermarket, and residential and commercial lobby entries on the ground floor, with level one home to a child-care and medical centre.</p>

<p>Two residential towers, referred to as Tower A and B, will be constructed in stage one.</p>

<p>Tower A has a maximum rise of 27 storeys, with level five to 31 containing 241 apartments. Tower B will have a maximum rise of nine-storeys, with 75 apartments planned for the tower.</p>

<p>Stage two will see the construction of another mixed-use development comprising a five-storey commercial podium, as well as residential apartments across two towers, Tower C and D.</p>

<p>Tower C will have a maximum rise of 13-storeys, comprising 74 apartments. Tower D will rise 26-storeys, set to deliver 163 apartments.</p>

<p>553 apartments will be delivered through the project, with the retail ground level connected directly to the village square facilitating commuter access to the railway station.</p>

<p>Different types of apartment typologies have been designed to accommodate households with different needs, particularly suited to the local market, with a mix of studio, one, two and three-bedroom apartments, as well as townhouses at street-level.</p>

<p><img alt="" data-entity-type="" data-entity-uuid="" height="3025" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/thornton2.png" width="2400" /><br />
<em>The residential buildings will range in height, with the low-rise towers toward the centre of the estate. Image supplied by Crone Architects.&nbsp;</em></p>

<p>The two-storey townhouses will be built with direct street access via generously-sized courtyards, while apartments at podium levels will benefit from direct access and deep courtyards that provide privacy and sunlight protection.</p>

<p>Western-facing apartments will have access to 180 degree views of the Blue Mountains, while eastern-facing apartments have distant views to the Sydney CBD.</p>

<p>Located between Lord Sheffield Circuit and Dunshea Street, the development is within walking distance to the railway station, while the new retail tenancies will become the most convenient offering for the tenants on the Thornton side of the station.</p>


The mixed-used development will be located on Lord Sheffield Circuit, with the first stage including retail and commercial space, along with residential apartments, which will be set across four towers.



alisonwarters@gmail.com

St Hilliers and First Point Property lodge final plans for Penrith's Thornton Estate

<p>Western Sydney buyers are enjoying a brand-new development positioned in the heart of Mount Druitt at GLP Development&rsquo;s latest residential project, No1 Zoe.</p>

<p>The Zoe Place residence features 268 residences in one, two and three-bedroom configurations, as well as a street-front retail centre, accessible by lift.</p>

<p>Mount Druitt is not just for locals. Many buyers are recognising the investment opportunities present in the area, with the $53 million Westfield redevelopment and the construction of the Western Sydney International Airport 15 minutes away.</p>

<p>[smartcode_project:default project_id=6726 project_image_fid=184437]</p>

<p>Surrounded by everything you need from retail and dining to transport, recreation and education, the development will find itself at the centre of a bustling lifestyle hub.</p>

<p>No1 Zoe has been carefully curated to achieve a feeling of timelessness, elegance and serenity.</p>

<p>The project encompasses three 12-storey residential towers, designed in collaboration between Brooks Projects Architects and interior designers Jackson Teece.</p>

<p>[smartcode_project:default project_id=6726 project_image_fid=184434]</p>

<p>The residences are spacious, with large balconies and floor-to-ceiling windows that maximise natural light while framing views to the Blue Mountains to the west and the city skyline to the east.</p>

<p>All apartments feature engineered timber floors, beech cabinetry, engineered quartz stone benchtops and premium Bosch appliances.</p>

<p>Suited to its urban location, homes include earthy shades that add warmth and bespoke detailing that creates a relaxed space.</p>

<p>[smartcode_project:default project_id=6726 project_image_fid=184433]</p>

<p>Two and three-bedroom apartments include a bath in the master ensuite, while all bathrooms include backlit mirrors, chrome tapware by Eago and overhead heating lamps.</p>

<p>Just moments from Westfields Mt Druitt, West HQ, Good Luck Plaza, Mt Druitt Railway Station &amp; bus depot, a range of educational institutions, No1 Zoe is where luxury and convenience fuse.</p>

<p>[smartcode_project_cta: project_id=6726]</p>


Western Sydney buyers are enjoying a brand-new development positioned in the heart of Mount Druitt at GLP Development’s latest residential project, No1 Zoe.

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Western Sydney apartment development No1 Zoe built to take advantage of central Mount Druitt location

<p>Granville Place is the latest residential offering from developers SHOKAI Ausbao and Develotek to hit Sydney&rsquo;s western suburbs.</p>

<p>This new village precinct will shape the new lifestyle, retail and residential heart of Granville, just a stone&#39;s throw from Sydney&#39;s second CBD of Parramatta.</p>

<p>The dynamic new neighbourhood will feature family apartments, green parklands and landscaped leisure zones.</p>

<p>Urban takes a look at six reasons why buyers are loving this new residential development.</p>

<p>[smartcode_project:default project_id=6876 project_image_fid=153889]</p>

<p><strong>1. Affordable apartments in a growing suburban hub</strong></p>

<p>Granville Place is expected to become a new hub for suburban city living, but its affordability is what is grabbing the interest of first home buyers and investors.</p>

<p>The new development boasts one-bedroom, one-bathroom residences from as low as $460,000, while two-bedroom apartments begin at only $625,000.</p>

<p>&ldquo;Granville is coming into its own as major regeneration and infrastructure projects in and around the suburb are shaping a vibrant hub for Central Western Sydney,&rdquo;&nbsp;SHOKAI Ausbao note.</p>

<p>[smartcode_project:default project_id=6876 project_image_fid=153896]</p>

<p>Its leading-edge fusion of architecture, imaginative oasis landscapes and amenity is sure to set new standards for Australian residential design provided for an incredible price.</p>

<p><strong>2. Residents-only offerings</strong></p>

<p>Granville Place delivers a residents-only oasis at the heart of its development, radiating well-being and enjoyment.</p>

<p>Features include a sun-drenched lawn, outdoor lounging zones, barbeques, playground and hammock grove and a podium oasis.</p>

<p>[smartcode_project:default project_id=6876 project_image_fid=153890]</p>

<p>Here, you can host summertime picnics, entertain family and friends, offer a space for children to play and enjoy quiet time with natural surrounds.</p>

<p>Dual aspect designs and picture windows open each home up to the leafy village precinct or panoramic citywide views beyond.</p>

<p><strong>3. Generous floorplans</strong></p>

<p>[smartcode_project:default project_id=6876 project_image_fid=153885]</p>

<p>Superior planning and practical layouts ensure every home flows brilliantly, from the largest three-bedroom to the simplest one-bedroom home.</p>

<p>Residents can enjoy a sense of comfort thanks to open-plan layouts, abundant light and versatile family living zones.</p>

<p>Spacious balconies and full-height glass bring natural views, sunshine and fresh air, as well as expand the interiors to create an atmospheric indoor-outdoor living environment.</p>

<p><strong>4. Great interior design</strong></p>

<p>[smartcode_project:default project_id=6876 project_image_fid=153901]</p>

<p>Sleek kitchens are generously sized while clean-lined bathrooms are naturally luxurious, perfect for relaxing and unwinding.</p>

<p>Designed by architects Marchese Partners, homes feature a stylish and contemporary touch with timber and stone textures coupled with elegant lines and atmospheric lighting design.</p>

<p>Subtle geometric textures draw on the sculptural exterior fa&ccedil;ade while soft neutral tones reflect the green landscaped setting.</p>

<p>Residents also have the choice between two colour palettes &ndash; pairing chic whites, bone greys and splashes of charcoal and slate.</p>

<p><strong>5. Numerous neighbourhood amenities</strong></p>

<p>[smartcode_project:default project_id=6876 project_image_fid=153888]</p>

<p>Granville is a people-friendly place to live, shop and play,&nbsp;where everything you need is on your doorstep.</p>

<p>A number of shopping centres are within close proximity, as well as alfresco caf&eacute;s, iconic restaurants, retail stores, medical suites and childcare centres.</p>

<p>A 1,400 sqm Public Park has been designed for locals to gather and spend time enjoying a variety of recreational activities.</p>

<p>The communal open space, located on the eastern side of the project, will provide a great setting for residents and locals to experience their own urban oasis.</p>

<p><strong>6. Family-friendly area</strong></p>

<p>&ldquo;It has long been an open secret: Granville is one of the best value suburbs in the whole Sydney metropolitan area&rdquo;, the developers claim.</p>

<p>Families are fond of its friendly suburban feel yet it&rsquo;s only five minutes from Parramatta CBD and a short 30-minute train ride to the Sydney CBD.</p>

<p>[smartcode_project:default project_id=6876 project_image_fid=153887]</p>

<p>The development is close to business hubs, education and leisure, diverse cuisines and local clubs.</p>

<p>Earmarked for major urban renewal with many improvements to the town centre and surrounds in the pipeline, Granville is the place to be.</p>

<p>[smartcode_project_cta: project_id=6876]</p>


Urban takes a look at six reasons why buyers are loving this new residential development

Six reasons buyers are loving SHOKAI Ausbao and Develotek’s newest Granville apartment development, Granville Place

<p>Developed by Tian An LFD, Auburn Square boasts the ultimate liveability in the heart of western Sydney.</p>

<p>Designed by&nbsp;Rothelowman, the development&rsquo;s design provides perfectly considered spaces to deliver a sense of community, with facilities including an expansive rooftop, communal dining areas, outdoor fitness equipment, all while overlooking cityscape views.</p>

<p>Urban takes a look at eight reasons why Auburn Square should be on your shortlist.</p>

<p>[smartcode_project:default project_id=7317]</p>

<h2>1. Developed by Tian An LFD</h2>

<p>The project is being developed by Tian An LFD, one&nbsp;of Australia&rsquo;s oldest listed property developers.&nbsp; With a strong track record of quality residential development in key markets on the west and east coasts it is backed&nbsp;by the strength of its Hong Kong-listed shareholder, Tian An China Investments Company.</p>

<p>They have won a number of awards across numerous Sydney and Melbourne projects and remain one of the most sustainable real estate funds in the world.</p>

<h2>2. Designed by the award-winning Rothelowman</h2>

<p>Designed by Rothelowman the vision is to create a place that emphasized liveability and community spaces.</p>

<p>The award winning architecture and design firm has been involved in projects across Brisbane, Sydney and Melbourne.</p>

<h2>3. Top level Rooftop amenities</h2>

<p><a href="/buildings/auburn-square-26-36-northumberland-road-auburn"><img alt="" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/auburn_roof.jpg" /></a></p>

<p>The expansive rooftop provides a generous dining experience, outdoor fitness equipment, and impressive cityscape views just to name a few.</p>

<p>With an impressive communal rooftop garden, it is comes complete with BBQ areas so you can keep fit and enjoy yourself at the same time.</p>

<h2>4. The Auburn Square Precinct&nbsp;</h2>

<p>Auburn Square is setting a new benchmark for residential developments in Western Sydney, with the precinct design largely inspired by the nearby Auburn Botanical Gardens. It is home&nbsp;all aspects of life and family with lush green surrounds through the apartments, landscaping, retail precinct and public domain.</p>

<p>Auburn Square&rsquo;s 2,000 sqm of green space offers privacy and serenity for residents to enjoy with friends and family.</p>

<p>Auburn is a hub of connectivity situated in the geographical heart of Sydney. It offers great transport accessibility to business centres including Parramatta and the CBD. Walk to Auburn train station in 3 minutes or take Parramatta Road and the M4 motorway for direct and easy access further west or into the city.&nbsp;</p>

<p><a href="/buildings/auburn-square-26-36-northumberland-road-auburn"><img alt="" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/auburn_facade.jpg" /></a></p>

<h2>5. The West Sydney housing market is on the rise</h2>

<p>There is no end of demand from home buyers and investors who want to live in Sydney&rsquo;s gentrifying inner Western suburbs.</p>

<p>In fact Sydney as a whole in on the rise, having turned around from the coronavirus induced slump that occurred throughout much of 2020.</p>

<h2>6. Affordable priced one, two and three bedroom apartments.</h2>

<p><a href="/buildings/auburn-square-26-36-northumberland-road-auburn"><img alt="" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/auburn_interior.jpg" /></a></p>

<p>Home buyers can enjoy a one-bedroom, one-bathroom apartment in Auburn Square for as low as $505,000, or a two bedroom unit for $600,000,&nbsp;well&nbsp;below the $730,000 median apartment price for Sydney.&nbsp;</p>

<p>Also within a more than reasonable price range, three bedroom homes start at&nbsp;$837,000.</p>

<p>A number of economists predict the battle between banks for new customers and the successful rollout of the coronavirus vaccine may super-charge even the national property market.</p>

<h2>7. HomeBuilder Eligible<strong> </strong></h2>

<p>Auburn Square is one of the few Sydney developments eligible for the HomeBuilder Grant extension, potentially saving $15,000 for first home buyers.</p>

<h2>8. Enjoy the view from your future home</h2>

<p><a href="/buildings/auburn-square-26-36-northumberland-road-auburn"><img alt="" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/auburn_balcony.jpg" /></a></p>

<p>Holding expansive views toward the CBD and Sydney Olympic park the balconies present a strong case as well as a strong facade.</p>


Developed by Tian An LFD, Auburn Square boasts the ultimate liveability in the heart of western Sydney.

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Eight reasons to consider an apartment in Sydney's Auburn Square

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

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<div>When I wrote my book <em>Get a Financial Grip</em> in 2011, I predicted a surge in property prices for a number of key Sydney suburbs located within a comfortable ten minute commute of the Central Business District, particularly those with outstanding rail transport links.</div>
<div> </div>
<div>In the event, actually most parts of Sydney have been through a real estate bonanza since that time, with solid picks demonstrating capital growth of around 60 per cent since early 2012. </div>
<div> </div>
<div>Although Sydney is presently set for a multi-year $70 billion infrastructure boom with the state coffers overflowing, preliminary auction clearance rates this week once again confirmed that many distant or outer suburbs are now wallowing in the midst of  a reversal.</div>
<div><strong> </strong></div>
<div><strong>Preliminary clearance rates (<em>CoreLogic-RP Data</em>)</strong></div>
<div><strong>Inner west - 75 per cent</strong></div>
<div><strong>South west - 30 per cent</strong></div>
<div><strong>Blacktown - 22 per cent </strong></div>
<div><strong>Outer west - n/a</strong></div>
<div> </div>
<div>House and land prices appreciating faster close to the city over time - explained by housing market economics as the "bid-rent curve" - partly equates to the eastern, inner western and lower north shore suburbs being the most conveniently placed for the city, lifestyle, entertainment, and Sydney beaches. </div>
<div> </div>
<div>And partly this dynamic is due to the simple geometry of concentric rings: an inner 6km ring has just 113 square kilometres of land therein, as compared to 1,250 square kilometres in the band located 30-36km from the city (the bit that is in the Pacific Ocean notwithstanding). Simply put, there is stacks of land available for development in the outer west and south west; but close to the city it is not so.</div>
<div> </div>
<div>Perhaps more important than any of this, however, is one other factor: the location of the new jobs being created in Sydney.</div>
<div> </div>
<div><strong><span style="text-decoration: underline;">Jobs deficits and surpluses</span></strong></div>
<div> </div>
<div>My former employers Deloitte released another outstanding report this week entitled Designing Western Sydney - Shaping Future Cities, with this simple graphic neatly encapsulating one of the greatest challenges facing the harbour city.</div>
<p><a href="/images/2015/12/16/Deloitte.jpg" target="_blank"><span style="line-height: 1.3em;">Click to enlarge</span></a></p>
<p><span style="line-height: 1.3em;"><img src="/images/2015/12/16/Deloitte.jpg" alt=""> </span></p>
<div>Eastern Sydney - which if you are unfamiliar with the geography of Sydney, for the purposes of this report is the bit around where the city and the harbour is located - has created thousands more jobs than workers for a jobs surplus of around 175,000, and is forecast to continue doing more of the same over the decade ahead.</div>
<div> </div>
<div>Western Sydney, on the other hand, has thousands more workers (1,088,000) than jobs (881,000). The net result is that each working day well over 300,000 Western Sydney residents travel out of the region to work, compared to only 100,000 travelling into the region, for a jobs deficit of approximately 200,000.</div>
<div> </div>
<div>It is all well and good to suggest that aspiring homeowners should simply pack up and head west for more affordable housing options, but if this requires an hour long commute across congested road or rail, in aggregate this will fail to transpire. Notes Deloitte:</div>
<div><em><strong> </strong></em></div>
<div><strong>"Place matters more than ever. As telecommunications and travel have grown steadily cheaper, people have chosen to live closer together rather than further apart".</strong></div>
<div> </div>
<div><strong><span style="text-decoration: underline;">Worsening jos deficit</span></strong></div>
<div> </div>
<div>The Western Sydney jobs deficit is projected to get much worse. Through 2031 more than half of the city's population growth is expected to be in Western Sydney at 52 per cent - with an extra 1 million residents expected and an estimated 664,000 new homes needed in the region - yet only 38 per cent of the new Sydney jobs are expected to be created there.</div>
<div> </div>
<div>By 2041 it is projected that Western Sydney will have a colossal jobs deficit of 340,000, while conversely Eastern Sydney is projected to have a surplus of some 238,000 jobs, with the "high value" professional and business services jobs overwhelmingly centred on the east and only a "comparative weakness" in the west (which is also home to 8 of the 10 poorest LGAs).</div>
<div> </div>
<div>Thus by 2041 it is projected that an extra 140,000 persons per day will be using the already congested transport links from Western Sydney, which would require 19 new freeways, six new train lines, or 1,700 new buses.</div>
<div> </div>
<div>It is little wonder, therefore, that Sydneysiders place a premium upon place over space, and continue to target the suburbs close to the city.</div>
<div> </div>
<div><strong><span style="text-decoration: underline;">Levers</span></strong></div>
<div> </div>
<div>With easy monetary policy and a lower dollar the Sydney economy is firing on all cylinders, and it is likely that the Western Sydney region can generate 110,000 to 120,000 new jobs by the end of the decade as things stand, but Deloitte has laid down the challenge for 200,000 great new jobs to be created. </div>
<div> </div>
<div>Deloitte identifies 25 strategies and seven "levers" that can be used to generate 200,000 great Western Sydney jobs, particuarly within the health, international education, manufacturing, agribusiness. tourism, cultural, and "enabling" industries (financial services, construction, transport &amp; logistics, retail, and government administration). </div>
<div> </div>
<div>Although some Australians oppose population growth and the increased density of living, it can without question benefit economic standing, with productivity, the labour force, and the way in which businesses interact with each other all gaining from proximity, and the capital cities acting as the "engines of growth". Over the next decade Gross State Product per capita is thus expected to soar by 30%.</div>
<div>
<br>Although few seem to have realised it yet, the next Sydney sector to boom will be education, evidenced through a massive influx of international students.</div>
<p> </p>
<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p> </p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
<p><span style="line-height: 1.3em;"> </span></p>
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Western Sydney's job surge: Pete Wargent

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<p><span>The residential investment market is currently in uncharted territory with the Corona-virus pandemic hitting many households, according to the August Herron Todd White (HTW) residential report. </span></p>
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<p><span>The valuation firm took a look at investor activities across the nation.</span></p>
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<p><span>The report notes whilst state and federal government initiatives have helped keep some calm in the market, there is a lot of speculation from property professionals that the longer this pandemic goes for the more stress there will be on both tenants paying their rent and investors paying their mortgages. </span></p>
<p><span>As a result this potentially could see an array of properties hitting the market within a short period of time which could put downward pressure on property prices.</span></p>
<p><span>"However, at the time of writing, Western Sydney has experienced a lower impact from COVID-19 in comparison to other areas of Sydney such as the inner suburbs which have a higher apportionment of renters and unit supply," the valuation firm said. </span></p>
<p><span>In the greater west, a popular investment option comes in the form of a house and granny flat which can provide a second rental stream and depending on the location, potential for longer term capital growth.</span></p>
<p>An example of this is <a href="https://www.realestate.com.au/sold/property-house-nsw-colyton-133173686" target="_blank">1 Kipling Drive, Colyton</a> (pictured below), located nearby to St Mary’s which is set to be a major transport intersection linking the existing<br>rail line to the Western Sydney Aerotropolis at Badgerys Creek.</p>
<p><span>The property is a partially updated 3 bedrooms, 1 bathroom on 632 sqm of land. Detached at the rear is a 2 bedroom, 1 bathroom, self-contained granny flat.</span></p>
<p><span><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/2020/9/7/colyton%20.jpg" alt=""></span></p>
<p><span>The property sold in May for $659,000, with a combined rental potential of $700 per week, calculating to a gross rental return of around 5.5%.</span></p>
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<p><span>As seen in other parts of the city, new units can quite often sell below the previous purchase ‘off the plan’, even after several years, the report noted. </span></p>
<p>An example of this is <a href="https://www.realestate.com.au/sold/property-apartment-nsw-penrith-133083770" target="_blank">725/1-39 Lord Sheffield Circuit, Penrith</a> (pictured below), a two-bedroom, two-bathroom unit which sold off the plan in February 2017 for $584,000 however re-sold in March 2020 for $505,000. The off the plan purchase was unable to be supported even in 2017.</p>
<p><span> <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/2020/9/7/penrith.jpg" alt=""></span></p>
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<p><span>The investor market across the South Western Sydney suburbs, in particular the Liverpool LGA, is generally very active as it offers a range of investment opportunities across a variety of asset classes, the report suggested. </span></p>
<p><span>"The rental market is very competitive which has seen rentals stagnate and in some areas fall," the valuation firm said. </span></p>
<p><span>The capital growth in property that has historically driven investor interest is no longer prevalent with some asset classes’ showing a decrease in value from the peaks of the 2016 and 2017 period.</span></p>
<p><span>Currently on realestate.com.au there are approximately 99, modern two-bedroom two- bathroom units available and approximately 160, three-to-four bedroom homes available for rent within the Liverpool LGA.</span></p>
<p><span>"The entry level of the investment market is driven by affordability and low risk. This is where you typically find your Mr and Mrs Citizen well represented as they are looking to park their savings into the property market rather than in a low interest bank account," the valuation firm said. </span></p>
<p><span>Popular investment opportunities for this market are modern units in the sub-$600,000 range, a single house in one of the modern estates in the </span>sub-$750,000 range, or a house and granny flat set-up. All three property types achieve reasonably safe returns and can come with some tax benefits as well, the report noted. </p>
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<p><span>Notwithstanding the below examples, duplex pairs and small unit blocks provide additional investment opportunities however they require a larger capital outlay.</span></p>
<p><span>A two-bedroom, two-bathroom unit in 12-14 George Street Liverpool sold in March for $460,000, with an assessed gross yearly rental of $20,650, representing a 4.5% yield. </span></p>
<p><span>However the previous sale in March 2016 was for $519,000, meaning an 11% decrease in value over four years.</span> </p>
<p><span>A modern four-bedroom, two-bathroom house in a new estate in Edmondson Park sold in April for $730,000, with an assessed gross yearly rental<br>of $26,400, representing a 3.6% yield. </span></p>
<p><span>"Whilst the rental return is not as strong as a unit may be, this type of property traditionally will show superior capital growth," the valuation firm said. </span></p>
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<p><span>A recent sale of a house and granny flat in Lurnea in June for $835,000, would likely achieve a gross combined annual rental of $38,400, representing a 4.6% yield.</span></p>
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<p><span>Moving away from your traditional investment classes, the rezoning of land in the South West, particularly in designated Growth Corridors and the Aerotropolis Precinct has seen property prices skyrocket. </span></p>
<p><span>For the broader residential market you have most likely missed the boat, but for those lucky enough to have owned land prior to any hint of rezoning taking place, developers are paying well above what could have ever been imagined for these traditionally rural areas. </span></p>
<p><span>Nowadays these areas are occupied by developers and established land bankers, the report noted. </span></p>
<p><span>A recent sale of a one-hectare site in Austral, sold in April for $2.625 million. </span>The previous sale of this property was back in 2014 for $1.855 million, a 41 per cent increase in six years.</p>
<p><span>Another property in Bringelly sold in May for $2.3 million. The previous sale was back in 2015 for $1.15 million, a 100 per cent increase in five years.</span></p>
<p><span>"Western Sydney is currently considered the best place for returns, given the varied properties to invest in. </span>We believe a well located house and granny flat provides a great option for their higher yields and depending on the location, future development potential given the land component.</p>
<p><span>"In other parts of Sydney, investors can look to play the long game and bear the short term loss of rents, for the ability to secure a property at a discount, and also take advantage of current low interest rates. There is value across all levels with strong medium to long term capital growth opportunities," the valuation firm said. </span></p>
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Western Sydney sees a lower impact from COVID-19: HTW residential 

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<p>The sub-$700,000 price point still provides attractive offerings within Western Sydney to its key buyers, according to the latest Herron Todd White (HTW) residential report. </p>
<p>The valuation firm took a look at how a budget of $700,000 could be invested in property markets across the nation. </p>
<p>The report suggests that the key buyers include first home buyers, investors and those looking to upgrade their existing residence, due to its more diverse options and lower price point in comparison to other areas in Sydney.</p>
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<p><span>"In relation to strata options, established areas in Western Sydney can provide two to three- bedroom units and in some cases townhouses," the valuation firm said. </span></p>
<p><span>In Parramatta, with its wider supply of units, </span>the $700,000 mark allows for a near new two- bedroom, two-bathroom unit.</p>
<p>An example of this is a circa 2019 unit, <a href="https://www.realestate.com.au/sold/property-apartment-nsw-parramatta-132823630" target="_blank">101/23 Hassall Street</a> (pictured below) which sold in February for $690,000, however previously sold off the plan in 2016 for $759,000, the report noted. </p>
<p> <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/2020/7/28/paramatta.jpg" alt=""></p>
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<p><span>"In Blacktown, you would only need $650,000 for a three-bedroom strata townhouse as shown by the sale of 4/16-20 Kent Street in April for $640,000," the valuation firm said. </span></p>
<p><span>The report notes opportunities at this price point for dwellings can be found for first home buyers and investors who wish to buy older style homes with a decent sized block of land in order to add value. </span></p>
<p><a href="https://www.realestate.com.au/sold/property-house-nsw-blacktown-132782770" target="_blank">18 Killarney Avenue, Blacktown</a> (pictured below), a mostly original, three- bedroom, one-bathroom home with 601 square metres of land sold for $670,000 in April and would provide ample opportunity for value adding.</p>
<p><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/2020/7/28/backstown.jpg" alt=""></p>
<p> </p>
<p><span>For a good investment, a house and granny flat in St Marys would provide a higher cash flow in the short term and potential for longer term capital growth, the report noted. </span></p>
<p><span>St Marys is set to be connected to the Western Sydney Aerotropolis at Badgerys Creek. </span></p>
<p><span>A house and granny flat, 21 &amp; 21A Marsden Road, St Marys, which sold for $699,900 in April, has a potential rental income of $740 per week and yield of 5.5 per cent.</span></p>
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<p><span>"House and land packages are also an option in newer estates such as Marsden Park, Box Hill and Jordan Springs," the valuation firm said. </span></p>
<p><span> At this price point though, buyers will have to compromise on size to put together a package with land of between 250 and 350 square metres.</span></p>
<p><span>An example of this is the current listing of Lot 6181 Annan Avenue, Marsden Park, a single level, four- bedroom, two-bathroom Metricon built dwelling with a single garage, improved upon a 312 square metre block available for $699,546.</span></p>
<p><span>"Within the new estates you don’t need $700,000 to purchase land; for much less you can pick up a block to build your dream home. </span></p>
<p><span>"Prices are dependent on the size, location, frontage and topography of the allotment," the valuation firm said. </span></p>
<p><span>A comparison can be found for a few suburbs in the table below.</span></p>
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<p><span>Source: HTW</span></p>
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<p><span>"In the rental market, with a current oversupply of available property relative to demand and the effects on the various markets of COVID-19, the rental market has contracted leading to increased vacancy rates and lower asking rents," the valuation firm said. </span></p>
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What a lazy $700,000 can buy in Western Sydney: HTW residential 

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<p>A mammoth construction project in Sydney’s west is set to create 2500 local jobs during its $525 million construction, with essential workers set to benefit once the homes are built. </p>
<p>Developers behind the proposed Crescent Parklands near Parramatta are promising to give ambulance and other frontline workers first dibs on at least 87 new affordable housing homes provided as part of the $525 million development.<span> </span></p>
<p>They are also pledging to ensure western Sydney tradies are first in line for lucrative demolition and construction contracts over the course of the proposed 10-year redevelopment of the former WesTrac industrial site in Holroyd alongside the M4.</p>
<p><span>Australian Capital Equity CEO Ryan Stokes told The Sunday Telegraph the residential and commercial project will create 2500 jobs during construction.</span></p>
<p><span><span>“At its peak the WesTrac site would have had about 450 people working here,” Mr Stokes, son of media mogul Kerry Stokes, said.</span></span></p>
<p>This area is going through tremendous change and a really progressive evolution.<span> </span></p>
<p>“The site is really close to Parramatta, Granville and Merrylands.”</p>
<p>Plans for the site’s high density rezoning, being considered by the Sydney Central City Planning Panel, go on public exhibition in the coming days.<span> </span></p>
<p>They reveal it will have 1255 apartments, with seven per cent of dwellings dedicated for affordable homes rented out for a 20 per cent discount on market rates in perpetuity.</p>
<p>15,000sq m of commercial and retail space, including a supermarket, other retailers, cafes and restaurants, childcare, a medical centre and 6255sq m of office space.</p>
<p>The project has the backing of Skills Minister and Parramatta Liberal MP Geoff Lee and Western Sydney Business Chamber executive director David Borger.<span> </span></p>
<p>Cumberland Council remains opposed because of traffic, density and amenity concerns.<span> </span></p>
<p>Mr Borger pointed toward the project’s 7714 sqm public park, which is bigger than a soccer field, with a playground and BBQ facilities as evidence of its importance to the area.</p>
<p><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/2020/7/20/impression%202.jpg" alt=""></p>
<p>Public space will comprise 43 per cent of the 3.79ha site.</p>
<p>“People are sick of high-rise projects that don’t have adequate space and this project has got more open space than any other high-rise project in Sydney at the moment,” Mr Borger, a former Parramatta mayor and state Labor government minister, said.<span> </span></p>
<p>“It is creating new public and private parks so you can come here with a child and they can have a place to kick the football muck around with their mates.<span> </span></p>
<p>“It has got all those great urban design principles that you want that we often don’t get in Sydney.”</p>
<p>Mr Lee said there are 50,000 jobs in the Parramatta CBD at the moment and “we are going to grow back to 100,000 over the next 10 years”.<span> </span></p>
<p>The majority of the site’s dwellings and retail spaces will be contained in four towers that are 28, 23, 17 and 22 storeys.<span> </span></p>
<p><span><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/2020/7/20/impression.jpg" alt=""></span></p>
<p>In response to criticisms the project would create traffic problems for nearby Woodville Rd, Mr Stokes will add an extra lane along Crescent St.</p>
<p>Cumberland Council has resolved not to meet with the developers and remain opposed to the project, which if approved would be the most dense part of the local government area outside of Merrylands town centre.<span> </span></p>
<p>“They are packing in residents like sardines into an already congested area that has a lack of infrastructure,” Cumberland Mayor Steve Christou said.</p>
<p>“The M4 and Woodville Rd are packed enough as it is.”<span> </span></p>
<p>Developers are estimated to pay at least $31.3m in local and state government infrastructure levies.</p>
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Western Sydney construction project to create 2500 jobs 

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<p>In a property market as diverse as Sydney, $700,000 is going to buy you very little in some parts while in others locations it can still mean a good quality home or investment.</p>

<p>There was "a rich and varied tapestry of property options" available across the city, especially in Sydney's West, according to the latest report of the Herron Todd White valuation firm.</p>

<p>The sub-$700,000 price point still provides attractive offerings within Western Sydney to its key buyers, being first home buyers, investors and those looking to upgrade their existing residence.</p>

<p>Established areas in Western Sydney can provide two to three-bedroom units and in some cases townhouses.</p>

<p>[smartcode_project:default project_id=8590]</p>

<p>In Parramatta, with its wider supply of units, the $700,000 mark allows for a near new two-bedroom, two-bathroom unit.</p>

<p>An example of this is a 2019 Hassall Street unit which sold in February for $690,000, having previously sold off the plan in 2016 for $759,000.</p>

<p>In Blacktown, you would only need $650,000 for a three-bedroom strata townhouse as shown by a Kent Street sale in April for $640,000.</p>

<p>House dwellings can be found for with older style homes on a decent sized block of land in order to add value.</p>

<p>[smartcode_project:default project_id=25842]</p>

<p>There was a Killarney Avenue, Blacktown, a mostly original, three-bedroom, one-bathroom home with 601 square metres of land that sold for $670,000 in April.</p>

<p>It provides ample opportunity for value adding.</p>

<p>HWT noted for a good investment, a house and granny at in St Marys would provide a higher cash flow in the short term and potential for longer term capital growth.</p>

<p>It noted St Marys is set to be connected to the Western Sydney Aerotropolis at Badgerys Creek. A house and granny on Marsden Road, St Marys, which sold for $699,900 in April, has a potential rental income of $740 per week and yield of 5.5 per cent.</p>

<p>House and land packages are also an option in newer estates such as Marsden Park, Box Hill and Jordan Springs, but buyers will have to compromise on size to put together a package with land of between 250 and 350 square metres.</p>

<p>An example of this is the current listing on Annan Avenue, Marsden Park, a four-bedroom, two-bathroom Metricon-built dwelling with a garage, on a 312 square metre block available for $699,546.</p>

<p>In South Western Sydney for under $700,000, the Liverpool LGA still provides opportunities.</p>

<p>The Liverpool CBD unit market has struggled over the past 18 months, HTW noted, with signs of doom and gloom.</p>

<p>"We consider that the amount of supply entering the market and the lack of business growth within the CBD has contributed to values remaining steady or even decreasing," their report noted.</p>

<p>An example was a 2004 built three-bedroom, two-bathroom unit on Castlereigh Street that sold in May 2015 for $520,000 and resold in May for $510,000.</p>

<p>These price levels allow first home owners to enter the market in a central location close to shops, schools and train lines.</p>

<p>"Compared to the Parramatta CBD, it offers very affordable living," HTW advised for Liverpool, which is seen as Sydney’s third city.</p>

<p>The development of the Western Sydney Airport and the rezoning of 25 hectares of land in the heart of Liverpool "will reinvigorate life and promote more commercial space."</p>

<p>The ultimate aim is to remove the need for workers to travel to the traditional Parramatta and city hubs.</p>

<p>"This may be just what Liverpool needs to breathe life back into the Liverpool unit market in years to come," HTW forecast.</p>

<p>Within the Liverpool LGA, the house market under the $700,000 mark is constantly decreasing in opportunity, however suburbs such as Busby, Cartwright and Ashcroft provide "a great hidden opportunity."</p>

<p><em>This article first appeared in</em> The Daily Telegraph.</p>
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