Rose Bay is emerging as one of Sydney’s most active suburbs for development, as developers respond to demand driven by the suburb’s ageing population.

More than 20 per cent of Rose Bay residents are aged 65 and over, according to the latest ABS census data. Combined with more favourable planning schemes introduced in recent years, new development activity in the suburb has accelerated.

Fresh off the back of a $173 million sale of what was marketed as “one of the largest sites ever amalgamated so close to Rose Bay Village,” created by 12 homeowners joining forces to combine nearly 6,000 sqm bordering Wilberforce Avenue and Dover Road, more than $200 million worth of development applications has been submitted in the suburb in the past month alone.

Aligned with the Rose Bay Place Plan 2023–2028, which identifies Wilberforce Avenue as a strategic location for new housing in response to local demographic shifts, Lewin Capital has lodged plans for a new $40 million project, also on Wilberforce. The proposal seeks to deliver 32 apartments, a mix of sizes designed to cater to a broad demographic range, including downsizers and key workers, with both smaller and family-sized units on offer.

<img alt="12 Wilberforce Avenue ROSE BAY NSW" data-entity-type="file" data-entity-uuid="e314fb24-2e53-4808-8411-d6e7c5fee2ea" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Plan%20-%20Photomontage%20-%20DA2025%20449%201%20-%2012-18%20Wilberforce%20Avenue%20ROSE%20BAY%20%281%29.JPG?VersionId=XX.AXChH4Kmv.kOB03suE8lenQ1NlqUe" />

Architecturally, the scheme adopts a measured approach to height and massing, stepping down at the rear to integrate with adjacent residential properties while forming a defined medium-density edge to the Rose Bay Centre.&nbsp;

“The proposed design for 12–18 Wilberforce Avenue, Rose Bay is a well-mannered apartment building in a mid-block position on a quiet street,” the Urban Design Report by <a href="https://www.apartments.com.au/architects/mhn-design-union">MHN Design Union</a> (MHNDU) states.&nbsp;

“It will form part of a new living environment in this highly desirable location.”

Builder-developer HSN Property Group is also bringing density to the same pocket, planning 54 two- and three-bedroom apartments that will also benefit from the recent Low and Mid-Rise Housing Reforms introduced under the NSW Housing SEPP. 14 of the apartments will be dedicated affordable under the SEPP in the $96 million proposal.

“The site’s location and context make it well suited to support a more diverse and sustainable residential offering in the area,” the developer stated in community consultation materials.

<img alt="HSN" data-entity-type="file" data-entity-uuid="2976efc3-db69-4013-84ef-5acc05bc6f66" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-08%20at%201.14.27%E2%80%AFPM.png?VersionId=A35N4_u2HA7uc_eiLAQedcHdsY_L4ywL" /> 
The plans by HSN for 2-16 Spencer St, Rose Bay

The architecture, led by&nbsp;<a href="https://www.apartments.com.au/architects/mhn-design-union">MHNDU</a>, reflects a "contemporary design approach sensitive to the character of&nbsp;<a href="https://www.apartments.com.au/new-apartments/rose-bay-nsw-2029" target="">Rose Bay</a>." Communal amenities will include a wellness area with a pool and sauna, a gym, a wine lounge, and landscaped spaces with barbecue facilities.&nbsp;

Fyve Developments is breaking into the eastern suburbs for the first time with their $32 million new development in Rose Bay. They are planning 19 apartments on Dover Lane.

Designed by PBD, the new project will comprise four two-bed apartments and 15 three-bed units.

<img alt="Fyve" data-entity-type="file" data-entity-uuid="91ec4820-1e05-4598-8d27-9df42234a52c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-08%20at%201.23.42%E2%80%AFPM.png?VersionId=VtH0oa48nJcvXGiXqjbHJvtYY6zWdIC7" /> 
Fyve's plans on Dover Lane.

Luxcon is also back in the suburb, having previously delivered The Aristocrat back in 2020. They have filed plans for 17 three-bedroom apartments on <a href="https://www.apartments.com.au/new-apartments/2-8-cooper-street-double-bay-nsw-2028">Cooper Street</a>.

Fortis wants to deliver <a href="https://www.apartments.com.au/new-apartments/23-31-dover-road-rose-bay-nsw-2029">49 apartments on Dover Road</a>, an $86 million development. That adds to their <a href="https://www.apartments.com.au/new-apartments/10-12-ian-street-rose-bay-nsw-2029">Ian St, Rose Bay development</a>, which they will likely launch next year.

Joel Robinson

Rose Bay apartment market fires up with $200m in new developments filed

Leading Sydney developer <a href="https://www.apartments.com.au/developers/deicorp">Deicorp</a> has recorded a strong market response at the launch of The Avenues, its $874 million East Zetland precinct.

On its recent launch they sold close to $18 million, predominantly to owner-occupiers, more specifically to families who wanted to be closer to kids and grandkids.

&nbsp;

Apartments sold ranged from $1.8 million to $1.97 million for two bedrooms, and $2.12 million to $2.62 million for three bedrooms.

[smartcode_project:default project_id=146262 project_image_fid=357150]

Located four kilometres from the CBD, <a href="https://www.apartments.com.au/new-apartments/the-avenues-zetland-130-joynton-avenue-zetland-nsw-2017">The Avenues</a> is transforming a 2.87-hectare site into a pedestrian-friendly urban neighbourhood comprising 574 residences across nine buildings designed by <a href="https://www.apartments.com.au/architects/candalepas-associates">Candalepas Associates</a> and <a href="https://www.apartments.com.au/architects/fk-australia">FK</a>.&nbsp;

Surrounded by tree-lined, walkable “avenues”, the precinct’s more than 800 sqm of ground-floor retail brings a lively, Paris-inspired streetscape to the heart of East <a href="https://www.apartments.com.au/developments/zetland-nsw-2017">Zetland</a> and will directly service nearby amenities and the surrounding residential community. 
&nbsp; 
The Avenues will also feature build-to-rent and purpose-built student housing in partnership with Scape, supporting key workers, students and long-term renters in this high-demand corridor.&nbsp;

[smartcode_project:default project_id=146262 project_image_fid=357154]

Deicorp will also contribute more than $16 million to open space improvements, including upgrades to Woolwash and Biyanbing Parks, with The Avenues designed to strengthen pedestrian connections to Green Square Station and Gunyama Park.&nbsp;

Deicorp Founder, Fouad Deiri OAM, said a clear trend was evident, with purchasers driven by proximity to family and lifestyle essentials.&nbsp;

“We’ve seen a clear trend of parents wanting to live close to adult children and students, as well as interstate and international buyers seeking to reconnect with family in Sydney’s inner south,"&nbsp;Deiri said.

“This early sales performance reflects the strength of East Zetland as a connected, high-amenity location and the appeal of homes designed with long-term liveability in mind. Many of these early-stage buyers are repeat Deicorp purchasers, too."

[smartcode_project:default project_id=146262 project_image_fid=357165]

Zetland is one of the top suburbs in Australia to experience an increase in housing density, with its population growing by 24 per cent in as little as three years to over 15,600 residents. According to REA, 197 units were available last month, with over 2300 buyers interested, demonstrating the strong demand for this inner southern pocket of Sydney.&nbsp;

Deicorp’s strong result at The Avenues follows significant spring momentum across its portfolio, with $63 million in combined sales recorded across recent launches for Showground Pavilions in Castle Hill and Falcon &amp; Alexander in Crows Nest.&nbsp;

Construction on The Avenues commenced in June, with the construction period expected to generate 2,700 jobs. Across its portfolio, Deicorp currently has 5,102 apartments under construction, playing a leading role in shaping connected, liveable communities across Sydney.&nbsp;

Its expanding portfolio of Metro-linked developments includes Tallawong Village, Kings Bay Village in Five Dock, Hyde Metropolitan, and Showground Village, all advancing the company’s long-term commitment to creating vibrant, transit-oriented neighbourhoods.&nbsp;

Apartments start from $955k for a one-bedroom, $1.48 million for a two-bedroom, and $2.04 million for a three-bedroom, all with car parking.

[smartcode_project_cta:default project_id=146262]

Family proximity and connectivity fuel $18m in first-day sales at Deicorp’s East Zetland precinct, The Avenues

Leading property developer <a href="https://www.apartments.com.au/developers/abadeen-group">Abadeen</a> has officially completed ENSO, its premium boutique residential development in Neutral Bay Village.

Designed by internationally acclaimed architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a> and built by Credence Constructions, ENSO draws inspiration from the Japanese Buddhist philosophy of the same name, a symbol of elegance, strength and enlightenment.

Comprising of just nine one-, two-, and three-bedroom residences, with a full floor four-bedroom penthouse, <a href="https://www.apartments.com.au/buildings/enso-neutral-bay-34-grosvenor-street-neutral-bay-nsw-2090">ENSO</a> combines sculptural form and refined materiality with a minimalist design language that evokes calm, balance and timeless sophistication.

[smartcode_project:default project_id=109705 project_image_fid=355893]

With the occupation certificate now in hand, Abadeen will soon welcome the first residents into their new residences, perfectly timed for Christmas.

Positioned along Grosvenor Street, which has emerged as one of the North Shore’s most exciting dining and lifestyle destinations, ENSO residents will enjoy a true village experience surrounded by Sydney’s best food, retail and culture. Grosvenor Street is home to brand new restaurants including Bombay Bloomers, Pocket Pizza and Fujitori Yakitori &amp; Sake Bar.&nbsp;

Within a one-minute walk of ENSO, a new retail precinct is introducing a curated line up anchored by Dan Murphy’s, together with Bodylove Pilates and the award winning Wholegreen Bakery. Coles is also close by, adding everyday convenience just minutes from the CBD.

[smartcode_project:default project_id=109705 project_image_fid=355895]

“ENSO represents the next chapter in Neutral Bay’s evolution,” said Justin Brown, Executive Chairman and Founder of Abadeen.

“You have Koichi Takada’s architecture on one side of the street and a vibrant new village scene on the other. It is the meeting point of design, lifestyle and community. This project captures what we value on the Lower North Shore: sophistication with a genuine sense of convenience where people want to live.”

Each residence is crafted with premium finishes, generous floorplans and seamless indoor to outdoor living, embracing Takada’s philosophy of organic, nature inspired design. Interiors are composed of soft, neutral palettes and tactile materials that promote calm and connection.

“This is a proud milestone for Abadeen,” Brown added. “ENSO has been carefully designed and delivered, a true boutique project that reflects our ongoing commitment to elevating the architectural and lifestyle experience across Sydney’s Lower North Shore.”

With construction complete and final residences available, ENSO presents a rare opportunity to move into a brand-new home within an established, connected and increasingly vibrant village community.

[smartcode_project_cta:default project_id=109705]

Staff Writer

Abadeen completes ENSO in the heart of Neutral Bay’s fast-evolving village precinct

&nbsp;Developer CPDM is continuing to put its stamp on Sydney's Lower North Shore.

Just a few months after seeking to develop <a href="https://www.apartments.com.au/news/nsw/first-look-neutral-bay-transformation-continues-as-new-eight-level-building-pitched">25 apartments in Neutral Bay</a>, CPDM is now looking to deliver something similar in the neighbouring suburb of Cremorne.

They have gone through the NSW Government's Housing Delivery Authority to file a State Significant Development Application for 32 apartments across an eight-storey building at&nbsp;<a href="https://www.apartments.com.au/new-apartments/57-61-reynolds-street-cremorne-nsw-2090">57–61 Reynolds Street</a>.

Like the majority of development applications being submitted in recent months, <a href="https://www.apartments.com.au/developers/cpdm">CPDM</a> is looking to trigger the affordable housing uplift under the&nbsp;State Environmental Planning Policy (Housing) 2021 guidelines.

<a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a>, who have worked on the project since its inception. They noted in their design statement that the Reynolds Street frontage more closely resembles the scale of multi-residential buildings in the area, while Gerard Lane has a smaller scale to match the presentation of the existing buildings on that lane.

<img alt="First look: CPDM plans eight-storey affordable apartment project in Cremorne" data-entity-type="file" data-entity-uuid="7ecfa010-8db9-42de-9b8e-0e52d46fe708" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Cremorne%20podium.png?VersionId=EajgchvITAagKkiAksQYy3SAIVpI.i.t" />

The majority of the 32 apartments will be three-bedrooms (27), with the remaining five two-bedroom units.

The building will include two rooftop communal spaces and two basement levels with 51 car parking spaces allocated for residents, visitors, motorcycles, and bicycles.

PBD noted that the project’s “density is thoughtfully planned to be sustainable, capitalising on existing and future infrastructure, access to public transport, the site’s cultural and community value, and its environmental attributes”.

CPDM has been steadily growing its development footprint across Sydney’s North Shore, with previous and current projects in Lindfield, Gordon, and Neutral Bay. Their recent application in Neutral Bay, also designed by PBD Architects, similarly leveraged the Housing SEPP bonus provisions to deliver a mid-rise apartment building with affordable housing units.

First look: Developer CPDM doubles down on Sydney's Lower North Shore

The first new apartment development in Gladesville to offer 10-year Latent Defects Insurance (LDI) protection is soon to welcome its residents.

Respected boutique developer Geron Property has partnered with the Gladesville RSL to deliver Jordan Hall Residences, named after the historic Jordan Hall building on Western Crescent, on the edge of the town centre.

The façade of the original 1938 building has been kept intact by the development team. The Inter-War Free Classical community venue is known for its Art Deco parapet, dual-tone brickwork, and decades of RSL Youth Club activity. The building once anchored the view down Jordan Street, and its façade will continue to do so as the hall becomes the architectural centrepiece of the new residential project.

Innovate Architects has designed a new structure that rises behind Jordan Hall, featuring 29 large-scale apartments that are setting new benchmarks in the suburb.

Local construction company Gauge is putting the finishing touches on the apartments, which are designed primarily for local downsizers. Each apartment features three bedrooms, kitchens with integrated Miele appliances, generous natural light through strategically placed windows, and private outdoor areas.

Beyond the private spaces, the project includes communal areas on the first and seventh levels, positioned to take advantage of Gladesville’s elevated outlook.

<img alt="Jordan Hall" data-entity-type="file" data-entity-uuid="f696a00e-e624-4af7-809c-e10cbf5fb051" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-04%20at%2012.17.43%E2%80%AFPM.png?VersionId=AwWxRbU92OMu0kMwFzaTbFO3qtwEr7go" />

Jordan Hall will be the first new apartment development in Gladesville with Latent Defects Insurance, a new insurance policy that gives peace of mind for off the plan buyers when it is secured by the builder or developer of the new building.

Offered by Resilience Insurance, LDI is a first-right insurance product that protects purchasers from structural or waterproofing defects within the first 10 years after completion. Geron Property's adoption of the policy aligns with broader industry movement toward more rigorous assurances and supports buyer expectations around long-term asset performance.

Geron Property, led by Tom Zarimis, is intending on taking out the policy on its next project, a luxury development on Cronulla's Gerrale Street.

Zarimis appointed&nbsp;Adobe Property Agents to sell Jordan Hall Residences. There are just a handful of apartments remaining.

Read more: <a href="https://www.apartments.com.au/news/what-is-latent-defects-insurance-and-is-it-bringing-confidence-to-the-off-the-plan-apartment-market">What is Latent Defects Insurance and is it bringing confidence to the off the plan apartment market?</a>

Geron Property, Gladesville RSL, approach completion of Jordan Hall Residences, Gladesville's first new apartment building with Latent Defects Insurance

Apartment Block

Investors have paid $7.1 million for an art deco block of six two-bedroom apartments in Sydney’s Bondi Beach.

The property was listed for auction through Alex Hart of Hart Estate Agents with a price guide of around $5 million.

The 38 Simpson Street property was bought by Peakdeed Properties No 1.

It had been held by the Armstrong family for nearly six decades.

There were two apartments per floor.

It came with an annual income of $185,000 and the suggestion there was room for improvement.

Alex Hart of Hart Estate Agents had given a price guide of around $5 million



jchancellor

$7.1 million Bondi Beach whole apartment block sale

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A block of four units at Mount Isa has been sold for $205,000.

The investment opportunity was four one bedroom units within the Pioneer precinct. 

It last sold in 1990 at $125,000.

The official site value was $47,500 as at June 30.

Each unit offered built in cupboard, modern bathroom, open plan living and functional kitchen plus an eternal laundry. 

There was an undercover carport at the front of the property. 

The 852 sqm site at 27 Kaeser Road was securely fenced.

The units were sold by John Tully at City and Country Realty Mount Isa after being on the market for 71 days, according to CoreLogic.
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The block of four units was sold last Friday at $205,000.

Mount Isa block of units sold for $205,000

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A block of nine apartments sold on the weekend following a makeover in Vaucluse for $10.4 million.

The three storey complex at 8 Marne Street has 15 bedrooms.

The selling agent Paton Jamieson advised the 1970s block had undergone a recent transformation so generous depreciation benefits were available.

The whole block on a 576 sqm block was traded in February last year at $7 million, and at $5.75 million in 2015.

It has 3x1 bedroom apartments, plus 6x2 bedroom apartments and 7x single lock-up garages.

When sold last year its gross annual income was put as $251,000 with an estimated market gross income of $288,600 after a rental reversion opportunity to increase rents to market at lease expirations.

It came with a NLA of 513sqm.

The Orcades coplex is located close to the Vaucluse Village in a pet friendly community.

Some apartments had ocean views.

McDonald Industries had been preparing to sell the apartments separately with pricing from $899,000 for the one bedroom apartments and the two bedroom apartments from $1,095,000.

<h2>Popular Vaucluse projects to check out:</h2>

[smartcode_project:default project_id=84683]

[smartcode_project:default project_id=8392]

[smartcode_project:default project_id=29375]
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A block of nine apartments has sold in Vaucluse for $10.4 million

Vaucluse apartment block sells for $10.4 million

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A Yarraville block of apartments was sold in one line at weekend auction for $2.72 million.

The six two-bedroom units had been advertised as having a conservative rental return of about $90,000 a year.

The apartments were typically between 60 sqm and 70 sqm.

The price guide was $2.25 million to $2.4 million.

There were four bidding groups seeking the two storey brick block on 836 sqm at 30 Stephen Street on the corner of Berry St.

Its reserve came as $2.55 million at its Greg Hocking auction.

It was reportedly listed by a family of real estate agents and sold to another real estate family.

<h2>Local Yarraville Projects:</h2>

[smartcode_project:default project_id=24477]

[smartcode_project:default project_id=3566]
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The Yarraville block of six sold for $2.72 million

Yarraville apartment block sold for $2.72 million

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Bidding stopped short of the vendor expectations when 124 Doncaster Avenue, Kensington went to auction Monday.

The top bid was $5.8 million.

There were five bidders competing after the $5 million opening bid.

The 124 Doncaster Avenue, Kensington has is a level 613sqm block trackside to Royal Randwick.

<img alt="" height="526" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/kensington_unit_block2.jpg" width="790">

The two-storey complex comprises four three bedroom apartments at 97sqm each.

There were six double lock up garages plus two visitor parking spaces.

"There is incredible scope to renew, refurbish, add a storey, redevelop completely (STCA) or simply retain as is," the marketing by Bradfield Cleary agent William Tsagaris said.

[smartcode_project:default project_id=6201]

Its GAR was advised as $117,843 pa with potential to increase.

It has R3 Zoning - Medium Density Residential, 0.9:1 FSR with a 551sqm buildable area and 12m height restriction.

The council rates are $1,572 per quarter.
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The complex had four apartments at 124 Doncaster Avenue, Kensington.

Trackside Kensington apartment block passed in at $5.8 million

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The Double Bay apartment block Monterey sold at Monday auction for $6,8 million. There are seven apartments in the 1920s complex at 256 New South Head Road, up the hill from the village.

It was marketed by NG Farah agent Joe Recep as "a rare entire apartment block offering."

Buyers were advised there was scope to "add further value" with the potential to sell the apartments separately.

The building was already a strata block with the units sold off separately in the early 1990s. The apartments were mostly three bedroom, two bathroom with high ceilings and bay windows.

The most recently available apartment was at a $550 a week asking rental, down on its peak $750 a week rate sought in 2015. It was up for rent at $350 a week. in 2005.

The period building came with a wide timber staircase.

The bidding at Cooley Auctions opened at $6 million. There were just the two bidders competing.

The vendor had accumulated all seven apartments between 2001 and 2008 at a $2.5 million cost.

Monterey is diagonally opposite the 2018-completed Golden Age complex, Essence which is a striking strata complex at 315-321 New South Head Road.

[smartcode_project:default project_id=6002]

Golden Age secured off the plan sales in 2016. A recent resale was $2.75 million last March for an apartment sold off the plan in 2016 at $2.66 million.

Essence has 38 residences in two buildings.
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A Double Bay block of seven apartments was sold at auction for $6.8 million

$6.8 million paid for Double Bay block of apartments

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Surfing royalty Mick Fanning has listed a Coolangatta apartment block he’s renovated since buying 14 years ago.

Fanning, who stepped away from professional surfing in 2018 having won three world championships over his near two decade professional career, paid $3.1 million for the tired 1980s brick block in 2007.

<img alt="" height="875" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/fanning_coolangatta_2.jpg" width="1200">

Now the Boundary Street building has a coastal white facade and each of the units and granny flats have been renovated.

There are two three bedroom apartments, one on the ground level and one on the second level.

Each unit has its own granny flat at the rear of the 505 sqm block. There's a blank canvas back yard and two garages.

<img alt="" height="890" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/fanning_coolangatta_3.jpg" width="1200">

LJ Hooker Palm Beach agents David Lonie and Mishy Canning suggest the building can provide four incomes streams, around $770 to $800 a week for each apartment and $470 to $500 a week for the two granny flats.

Lonie and Canning have a February 7 auction on site at the block which is footsteps to Snapper Rocks. They advise there is potential for separate sales of the apartments.

Fanning will retain a foothold on the street. He owns the block of four two doors down, which he bought for $1.2 million in 2006, and the block next door to that, secured in 2005 for $1.39 million.

<h2>Coolangatta's newest developments</h2>

<h2><a href="/buildings/miles-kirra-beach-hotel-101-musgrave-street-coolangatta">Miles Residences Kirra Point</a></h2>

Address: Corner Miles Street and Marine Paradise, Kirra QLD 4225 
Prices from: $545,000

<a href="/buildings/miles-kirra-beach-hotel-101-musgrave-street-coolangatta"><img alt="" height="900" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/kirra_point_miles_residences_pool.jpg" width="1600"></a>

Miles Residences at Kirra Point, the luxury redevelopment of the Kirra Beach Hotel by KTQ Group, is Coolangatta's most impressive new developments. Already nearly 50 per cent of the 118 apartments have sold since their launch in December.

Designed by Woods Bagot, the project, which includes a pub and pavilion, is set to be completed in early 2023.

<a href="/buildings/maya-kirra-beach-1-coyne-street-coolangatta">Maya Kirra Beach </a>

Address: 1 Coyne Street, Coolangatta QLD 4225 
Prices from: $1.93 million

<a href="/buildings/maya-kirra-beach-1-coyne-street-coolangatta"><img alt="" height="711" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/maya_kirra_beach.jpg" width="1200"></a>

Only a few residences remain in the top end Maya Kirra Beach block of just 15 three and four bedroom residences. The building, developed by Spyre Group and completed in September 2020, only has four bedroom apartments left starting at $1.93 million.
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Surfing royalty Mick Fanning has listed a Coolangatta apartment block he’s renovated since buying 14 years ago.



Surf legend Mick Fanning lists Coolangatta apartment block

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Garfield Towers, a Surfers Paradise building comprising 30 strata titled units, has been listed for sale.
The block of apartments at <a href="https://www.realestate.com.au/property-unitblock-qld-surfers+paradise-134354014" target="_blank">43 Garfield Terrace</a>, right on the beachfront, dates back to the mid 1960s.
Garfield was the first high rise ever to be built on the beach.
The lots will be offered by the individual owners, many of whom own several apartments.
The owners know a re-development is the best outcome for a building once known as the most luxurious accommodation available on the Gold Coast.
There is interest from some of the owners in acquiring one of the new apartments.
All 30 apartments have two bedrooms.
The tightly held block last saw a sale in 2019, when a ninth level apartment sold for $510,000.
It was the first sale since a $325,000 sale over a seventh level unit in 2015.
Oxbridge Agent's Thomas Dennis is marketing the Gold Coast property on 1,620 sqm that sits next door to the Northcliffe Surf Life Saving Club.
 
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j.ballantyne1990-6AQqhLzZaK

Entire beachfront Surfers Paradise unit block listed

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block of 12 residential units in Fairfield has been sold under the hammer for $3,910,000.
The 1,252 square metre property at <a href="https://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39QzG/Nyy8oj1MsQ8lDBqOLeGnfqPgIdmzmVW8USMH2yRAUyHv8q5VWPKM4HOTcI/vgbUU40dRApZ3AYyoFpMMFU5rZIBH5YezVayWq2FlwjDRuJXmiKLnlJ&amp;rh=ff0056a07190f28fc36e721b9948b5621bb838d2" target="_blank">30 Railway Parade</a> provides a potential gross income of about $200,408 per annum.
The property was marketed and sold by Ray White Commercial NSW – Western Sydney Associate Director Victor Sheu, Managing Director Peter Vines and Director Joseph Assaf, in conjunction with Stanton Hillier Parker.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/12/20/unnamed%201%201.jpg" alt="">
Sheu said after a campaign that received more than 85 enquiries, the property sold to a private investor.
“We had interest from Sydney investors, Asian investors, unit traders and local high-net-worth investors from the Fairfield and Cabramatta region, resulting in nine registered bidders on auction day,” he said.
“Developers did enquire on this asset, as it was zoned R4 and capable of being rebuilt into new units, but the investment market at the moment is stronger than development.   “The block had 10 of 12 units occupied at the time of sale and bidding started at $3,000,000. It took more than 30 more bids to climb up to the sale price that was $160,000 over reserve.”
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/12/20/unnamed%202.jpg" alt="">
Vines said the Fairfield was similar to Western Sydney in that it attracted a lot of local owners.
“The locals like to stay in their area and a few bidders in attendance were from the region, but what attracted the number of bidders was the investment nature of the property,” he said.
“With the lack of investment opportunities in the market, buyers are eagerly looking for more opportunities where there's an existing income and a flexible exit strategy.
“The market for blocks of units have always performed well amongst private investors due to its low-risk nature.”
Assaf said Fairfield happened to also grasp a lot of Asian attention due to its proximity to Cabramatta.
“It benefits from its close proximity to both Parramatta and Liverpool CBD, which are both booming and looking to increase employment where housing will be required,” he said.
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jonathanchancellor-7SQnKwU6yx

Fairfield residential block sells for $3.91 million at auction 

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An apartment block in Woollahra has been sold for $7.2 million.
Set on a level 695 square metre block, 3 Trelawney Street comprises of five units.
It included a three and a half-bedroom townhouse, two three-bedroom units, and two one-bedroom units.
The two-storey complex was left to St Luke’s Care and The Garvan Research Foundation in the will of the late owner, Martha Danos.
The property was built in 1948.
The median sale price of individual units in Woollahra is $1.19 million, with a median rental yield of of $700 per week.
Bob Guth, from BradfieldCleary, sold the property.
Earlier this week $14.66 million was paid for two Edgecliff Road apartment blocks.
They had a total of 24 x 1 bedroom units with 12 in each building offering a total NSA: 1,291 sqm internal area.
The total land area was 1,100 sqm.
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