One of North Sydney's best-known commercial buildings could become hundreds of new homes, with insurance giant Zurich Australia lodging a State Significant Development Application (SSDA) to transform 5 Blue Street into a mixed-use residential development above North Sydney Station.

Rather than demolishing the existing building and starting again, Zurich is proposing an adaptive reuse project that would convert the landmark office building into a 15-level residential development delivering 62 apartments, 86 affordable co-living dwellings, activated retail and significant upgrades to the Blue Street Plaza.

The proposal reflects a growing trend of commercial property owners repositioning ageing office assets into residential housing as Sydney grapples with housing supply shortages and changing workplace demand.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="0bba7d12-06dc-4375-aad7-238c94b21ac5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.42.05%E2%80%AFAM.png?VersionId=NJl5oLAEBDGuPmY3RnyliKODjMc8lvRh" />

Located directly above North Sydney Metro and train station, the 3,051 sqm site occupies one of the most strategically positioned parcels of land on Sydney's Lower North Shore.

Designed by fjcstudio, the proposal seeks to retain and adapt much of the existing structure while creating a contemporary residential address that better connects with the public domain surrounding North Sydney Station.

The application proposes two basement levels, ground floor retail, affordable co-living accommodation across the podium levels, and apartments above, while preserving and enhancing the publicly accessible Blue Street Plaza.

Rather than pursuing maximum apartment numbers, Zurich has opted for a housing mix heavily weighted towards larger owner-occupier residences.

The proposal includes 62 build-to-sell apartments comprising 12 one-bedroom, 19 two-bedroom, 29 three-bedroom apartments and two premium penthouses. It also incorporates 86 affordable co-living dwellings, which would be managed in perpetuity by a Community Housing Provider.

That balance between traditional apartments and affordable housing reflects the NSW Government's push to increase housing diversity around major transport infrastructure.

The proposal has been lodged concurrently with a rezoning application, with Zurich arguing the site is ideally positioned to support additional housing given its immediate proximity to public transport, employment and services.

"The proposal aims to respond to the housing challenges facing Sydney through the delivery of diverse housing types in a highly accessible location," the design report by fjcstudio states. It also seeks to improve pedestrian amenity through upgrades to Blue Street Plaza while creating a high-performing residential building that responds to the surrounding context.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="36082e15-c636-4481-bb68-5a5f6443fe39" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.41.36%E2%80%AFAM.png?VersionId=5P6VD.fvmqjQfIG3TWWMRXxQWiQBjeFB" />

Rather than replacing the commercial building, fjcstudio has developed a design that works with the existing structural framework above the rail corridor, an approach that significantly reduces demolition while allowing the site to be repositioned as a mixed-use residential precinct.

The existing structural constraints have informed much of the building's design, including its relationship with Blue Street and surrounding public spaces.

The building has been designed as a slender tower rising above a clearly defined podium, with vertically expressed façades intended to reduce the perceived bulk while reinforcing North Sydney's emerging skyline.

According to fjcstudio, the architectural language responds directly to the surrounding commercial towers while maintaining a finer grain expression more closely aligned with the neighbouring Lavender Bay streetscape.

The tower incorporates articulated façade elements, landscaped podium edges and recessed upper levels to soften its appearance and improve pedestrian amenity below.

A significant component of the proposal is the revitalisation of Blue Street Plaza.

The existing public space has long served as one of the primary pedestrian connections between North Sydney Station, Greenwood Plaza and Blue Street, yet its role is expected to become even more important following the opening of Sydney Metro.

Zurich's proposal seeks to strengthen that role by improving landscaping, introducing new retail frontages, enhancing pedestrian permeability and creating more active edges throughout the day and evening.

Ground floor retail would wrap the plaza, while separate residential and co-living entries have been designed to improve wayfinding without reducing street activation.

Landscape design has been integrated throughout the podium and public realm, softening what is currently one of the most heavily urbanised parts of North Sydney.

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fjcstudio has carefully oriented apartments towards Sydney Harbour and the CBD while using privacy blades and articulated façades to minimise overlooking between neighbouring buildings.

Large framed openings along the western elevation maximise harbour outlooks, while the eastern apartments have been angled towards the south-east to improve privacy from neighbouring development.

The project forms part of the continuing transformation of North Sydney from a predominantly commercial CBD into a genuine mixed-use city centre.

Since the completion of Victoria Cross Metro Station, developers have increasingly shifted their attention towards residential projects capable of leveraging the area's unparalleled transport connectivity.

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FiveX recently lodged plans for a 61-storey, 490-apartment tower that would become one of the tallest residential buildings in North Sydney if approved.

Aqualand continues to expand its Lower North Shore presence following the completion of AURA on Walker Street and its recent St Leonards and Roseville proposals.

Developers are also progressing projects throughout Walker Street, Miller Street and the Victoria Cross precinct as demand for well-located owner-occupier apartments continues to strengthen.

Joel Robinson

First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station

Busy developer Aqualand Prestige has formally taken the next step in its expansion across Sydney's Lower North Shore, lodging a State Significant Development Application (SSDA) for its long-held Archer Street site in Chatswood.

The application covers <a href="https://www.apartments.com.au/new-apartments/51-55-archer-street-chatswood-nsw-2067">51-55 Archer Street</a>, a 1,767 sqm amalgamated site on the eastern edge of the Chatswood CBD, where the developer is seeking approval for a 45-level mixed-use tower delivering 114 apartments, including a significant affordable housing component, alongside retail, commercial space and six basement levels of parking.

The SSDA marks the latest milestone for a project Aqualand has been quietly progressing over the past two years. The developer first secured the site for its Aqualand Prestige platform before undertaking an alternative design excellence process with PTW Architects, ultimately avoiding a formal design competition through the Housing Delivery Authority pathway.

The proposal has evolved considerably from Aqualand's original concept. The revised scheme has been designed around larger owner-occupier product, with an unusually high proportion of three and four-bedroom apartments, targeting the more affluent buyer profile, and downsizer, emerging across the North Shore.

<img alt="Archer St" data-entity-type="file" data-entity-uuid="0171204c-5811-41b5-9b09-2335d1b7c3d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%208.52.48%E2%80%AFAM.png?VersionId=6YTuxfq.puZo7k2wbfgemcO5K3QfXYGQ" />

The 114-apartment mix comprises six studios, 27 one-bedroom apartments, 18 two-bedroom apartments, 50 three-bedroom residences and 13 four-bedroom homes. A quarter of the building will be dedicated to affordable housing, well above the mandated 15 per cent&nbsp;

PTW has structured the building vertically, with affordable housing across levels one to six, premium apartments through levels seven to 31, duplex skyhomes on klevels 32 to 43, a penthouse on level 44, and a rooftop plant level above. Six basement levels will provide resident parking and servicing.

The tower is proposed to reach approximately 154 metres, placing it among a growing collection of residential high-rises transforming Chatswood's skyline.

Rather than competing purely on height, PTW says the design has been driven by creating a slimmer tower capable of delivering significantly larger apartments.

"The primary objective of this project was to create a distinctive building that stands out from the recently approved or built structures in the Chatswood area," the design report states, noting the structural efficiency allows greater investment into apartment quality and resident amenity.

Residents would have access to more than 450 sqm of communal open space including landscaped gardens, swimming pool, rooftop entertaining areas, fitness spaces, community gardens, children's play areas and barbecue facilities.

A major focus of the design has been the public domain.

The ground plane has been opened up through landscaped terraces inspired by Willoughby's sandstone ridges, with native planting, public seating, artwork, retail activation and a series of gathering spaces intended to soften what has traditionally been a hard commercial streetscape.

The landscape strategy references Blue Gum forests once common throughout the area, while incorporating Indigenous storytelling, public art and lighting installations to strengthen the connection to Country.

Chatswood has been one of Sydney's busiest apartment markets over the past 12 months, with a steady pipeline of both new project launches and fresh development applications.

Hyecorp recently launched Celine, a 122-apartment development just along Archer Street, while Changfa and Huirong Group are progressing The Anderson, an 84-apartment project on Anderson Street.

Develotek recently secured approval for a 101-apartment tower on Pacific Highway, while Tian An LFD received the green light for Hammond Greens, its apartment development on the edge of the Chatswood Bowling Club.

Commercial property developer FiveX is also making its move into the residential market. Last month it lodged plans for a 61-storey tower with 490 apartments, which, if approved, would become one of the tallest residential buildings in Chatswood.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-targets-chatswood-skyline-with-61-storey-tower-after-north-sydney-plans">First look: FiveX targets Chatswood skyline with 61-storey tower after North Sydney plans</a>

Aqualand is also expanding its development pipeline following the launch of its luxury residential brand, Aqualand Prestige. The developer has delivered a string of high-end apartment projects across Sydney's affluent suburbs over the past decade, most recently AURA by Aqualand on Walker Street in North Sydney.

[smartcode_project:default project_id=30959 project_image_fid=292863]

It has since quietly assembled its next wave of projects.

Earlier this year Aqualand launched Boronia in Roseville, a boutique 111-apartment development on Larkin Street. The project is one of the first significant apartment developments to launch in the suburb ahead of what is expected to become one of Sydney's most active new housing precincts under the NSW Government's Low and Mid-Rise Housing reforms, which allow greater density around train stations.

[smartcode_project:default project_id=152095 project_image_fid=373685]

The developer has also lodged plans for a two-tower, 413-apartment development on Herbert Street in nearby St Leonards, further strengthening its presence across the Lower North Shore.

Beyond that, Aqualand remains behind the final stage of Barangaroo, where plans will deliver a five-hectare mixed-use precinct comprising new homes, retail, hospitality and community facilities, alongside a new Metro entrance and more than two hectares of public open space, completing the Barangaroo precinct.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/central-barangaroo-development-takes-big-step-with-concept-proposal-approval">Central Barangaroo development takes big step with concept proposal approval</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-aqualand-joins-st-leonards-apartment-party">First look: Aqualand joins St Leonards apartment party</a> 
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First look: Aqualand pushes ahead with Chatswood apartment tower as SSDA lodged for Archer Street

Mass timber is becoming an increasingly popular construction material in apartment developments, but Adelaide developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> is taking the approach a step further.

At its new <a href="https://www.apartments.com.au/new-apartments/flowe-bowden-18-gibson-street-bowden-sa-5007">Flowe Bowden</a> development, the exposed cross-laminated timber (CLT) structure isn't just about reducing the building's environmental footprint. It also forms the foundation of a broader wellness strategy, influencing everything from indoor air quality and natural materials to the way residents move through and experience the building.

The 115-apartment mixed-use development, designed by Melbourne-based architecture practice Fieldwork, will occupy a prominent island site opposite Bowden Village Reserve, combining one, two and three-bedroom apartments with retail and a dedicated wellness destination.

[smartcode_project:default project_id=152022 project_image_fid=375528]

Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.

The development has been split into two residential wings connected by a naturally ventilated central breezeway, replacing traditional enclosed corridors with open-air walkways that improve natural light, encourage cross ventilation and create more opportunities for neighbourly interaction.

"Rather than treating wellness as something that only happens on the ground floor, our response integrates it throughout the building, which led us to ask what it really means to design a healthy building," Fieldwork Director Quino Holland said.

[smartcode_project:default project_id=152022 project_image_fid=375531]

The building's architecture also reflects Bowden's industrial heritage. The lower podium references the area's historic brick and sandstone buildings, while the upper levels transition to exposed CLT, allowing the timber structure to become a defining feature throughout the apartments and shared spaces.

The use of mass timber sits alongside a range of sustainability initiatives, including a fully electric, gas-free design, rooftop solar and a targeted 5 Star Green Star rating.

[smartcode_project:default project_id=152022 project_image_fid=375524]

Inside the residences, the focus remains on natural, durable materials. Blackbutt engineered timber flooring, exposed CLT ceilings, porcelain surfaces and warm timber joinery create a calming interior palette, while low-VOC finishes and responsibly sourced materials have been selected to improve indoor air quality.

Kitchens have been designed as the centrepiece of each apartment, featuring porcelain island benchtops, timber-look cabinetry and brushed steel tapware, with layouts that maximise natural light and ventilation.

[smartcode_project:default project_id=152022 project_image_fid=375530]

The more traditional interpretation of wellness comes in the form of Level Eleven, a two-storey wellness club spanning the ground floor, mezzanine and first floor.

The facility will include a gym, yoga and reformer Pilates studios, Finnish and infrared saunas, magnesium hot and cold plunge pools, and dedicated recovery spaces. Unlike many residential wellness facilities, Level Eleven will also operate commercially, allowing the broader Bowden community to access the venue while giving residents exclusive membership benefits.

The ground floor has also been designed around everyday living. A café overlooking Bowden Village Reserve will activate the street frontage, while a bike workshop with tool storage, co-working space and dog wash has been incorporated to support daily routines and encourage interaction between residents.

"Flowe brings together my two biggest passions, creating places and creating healthier lives," Otello founder Daniel Harris said.

"We wanted to create something Adelaide hasn't seen before, a genuinely healthy building, where the way you live is lifted without even trying."

Flowe is positioned directly opposite Bowden Village Reserve and within walking distance of Bowden Railway Station and the Adelaide Entertainment Centre, placing future residents just minutes from the Adelaide CBD while remaining connected to one of the city's most established urban renewal precincts.

[smartcode_project_cta:default project_id=152022]

Otello launches wellness-focused Flowe Bowden with Adelaide-first mass timber apartment design

Not all apartment amenities are immediately visible.

Swimming pools, gyms, rooftop terraces and residents' lounges have long featured on buyers' wishlists, but as the way Australians live has changed, so too have the features that make apartment living more convenient.

Increasingly, buyers are placing value on the practical aspects of day-to-day life. Fast internet, EV charging, secure bike storage, flexible workspaces and parcel management are becoming just as relevant as lifestyle amenities, reflecting changing habits and expectations.

Online shopping has been one of the biggest drivers of that shift.

Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally, making parcel deliveries a routine part of everyday life rather than an occasional convenience.

For apartment residents, however, receiving those deliveries isn't always straightforward.

Without someone home to accept a parcel, deliveries can be redirected to a nearby Post Office, left in building foyers or common areas, or require building management to temporarily store packages. As apartment living continues to grow across Australia's cities, parcel management has become an increasingly important consideration for both residents and developers.

Australia Post's Parcel Locker network is one response to that shift.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/KPZ9j5FRdsQ?si=Qztc1dNP3ZvEIUhb" title="YouTube video player" width="560"></iframe>

Rather than relying on home delivery, eligible parcels can be directed to a nominated Parcel Locker, where they're securely stored until collected. Once a parcel arrives, residents receive a notification through the AusPost app or SMS and can retrieve it using a one-time code or QR code at a time that suits them.

The network has expanded to more than 1,500 locations nationwide, with Parcel Lockers positioned at Post Offices, shopping centres, supermarkets, transport hubs and, increasingly, within or alongside residential developments.

That growing presence reflects a broader change in how apartment buildings are being planned.

Developers are increasingly considering the operational side of apartment living alongside traditional lifestyle amenities. Just as secure mailrooms, bicycle storage and EV charging have become more common inclusions, parcel management is emerging as another feature that supports everyday convenience.

It also helps preserve the arrival experience within a building. Carefully designed lobbies and communal spaces can quickly become cluttered when deliveries accumulate, while secure parcel solutions reduce the likelihood of missed deliveries or parcels being left unattended.

For buyers comparing apartments, these everyday details are becoming part of the decision-making process.

Location, floorplans and finishes remain fundamental, but the features that simplify daily life are carrying greater weight than they once did. As online shopping continues to shape consumer behaviour, secure parcel delivery is increasingly becoming another amenity worth looking for.

Parcel delivery is joining the apartment amenity checklist

Inca Property Group has lodged a State Significant Development Application (SSDA) for Dawn, a 53-apartment oceanfront development overlooking Mona Vale Beach.

The proposal, at 35-39 Darley Street East, would replace an existing 18-apartment strata building with a new owner-occupier-focused development comprising 53 two and three-bedroom apartments, including nine affordable built-to-rent residences delivered under the State's infill affordable housing scheme.

Positioned on a 2,679 sqm elevated site around 280 metres from Mona Vale Beach, the development has been designed to maximise panoramic ocean views while responding to the site's sloping topography.

<a href="https://www.apartments.com.au/developers/inca-property-group">Inca Property Group</a> Managing Director Josh Thompson said the State Significant pathway provided greater certainty for projects of this scale.

"This State Significant pathway gives the team real certainty to progress <a href="https://www.apartments.com.au/new-apartments/dawn-35-39-darley-street-east-mona-vale-nsw-2103">Dawn</a> through to completion," Thompson said.

"It allows us to acquire a one-off site, design it carefully and deliver the right offering for the suburb, assessed by the NSW Government's planning department."

The project is one of the first developments in the area to be assessed under the NSW Government's Low and Mid-Rise Housing policy, with the site sitting on the edge of the policy's designated inner area.

The proposal includes three basement levels providing 124 car spaces, alongside a range of resident amenities including a swimming pool, gym, sauna, wellness facilities and private plunge pools for selected ground-floor and penthouse apartments.

<img alt="Dawn" data-entity-type="file" data-entity-uuid="fc1a1daf-0ce4-4f12-9076-b1fa553c7a91" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-21%20at%208.42.11%E2%80%AFAM.png?VersionId=4GZ9h.gpNkTljbxyAET8Jfhv51XUamDm" />

Thompson said Dawn had been designed specifically for owner-occupiers and downsizers, a buyer profile that has driven demand across Inca's recent Upper North Shore developments.

"The majority of buyers in our recent North Shore projects have been downsizers, and we are learning exactly what this market is looking for. Beyond the location itself, we have included resort-style amenities to deliver a genuine lifestyle offering," Thompson said.

Located within walking distance of Mona Vale Beach, the town centre, Mona Vale Golf Club and the Royal Motor Yacht Club, Dawn represents Inca's first Northern Beaches project following the sell-out of Tara on Park in Waitara and Ellis Residences, currently under construction in St Ives.

Construction will be undertaken by Inca's in-house construction arm, GOP Constructions.

Dawn is the latest major apartment proposal for Mona Vale, with the suburb emerging as one of the key beneficiaries of the NSW Government's new Low and Mid-Rise Housing policy.

New developer One Living, led by industry veteran Joseph Scuderi, recently secured a site on Mona Vale Road, on the border of Mona Vale and Pymble, where it is planning around 140 apartments.

IPM is also planning its third project in Mona Vale, significantly increasing the scale of its previous developments with an 82-apartment proposal at <a href="https://www.apartments.com.au/new-apartments/159-167-darley-street-west-mona-vale-nsw-2103">159-167 Darley Street West</a>, opposite Bayview Golf Course and less than 800 metres from Mona Vale town centre.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/one-living-enters-sydneys-new-apartment-market-with-northern-beaches-site-acquisition">One Living enters Sydney's new apartment market with Northern Beaches site acquisition</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-ipm-plans-third-mona-vale-project">First look: IPM plans third Mona Vale project</a>

First look: Inca eyes Mona Vale with State Significant DA for Dawn apartments

Apartment Market

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Billionaire developer Harry Triguboff says Sydney apartment price growth was flattening.
And the Meriton boss expects some rival developments will stall as the heat came out of the market.
But Meriton, which last week started work on a 200-unit and a 400- unit project in Sydney’s Mascot and 500 units at nearby Rosebery, was still going strong.
“We are going flat out,” Mr Triguboff told The Australian.
However, he warned against the tightening of lending to apartment investors and offshore buyers, with news yesterday of Westpac following rivals ANZ and CBA in restricting lending for foreign buyers.
Westpac will decline all mortgage applications from non-residents, temporary visa holders living overseas and those with foreign self-employed income.
Mr Triguboff warned the banks could create a self-fulfilling prophesy of falling apartment prices by lending less at settlement than indicated when contracts were signed for off-the-plan sales.
In its recent biannual review of financial stability, the RBA noted the dominance of Chinese buyers in Sydney and Melbourne and the risks posed if China’s economy stalled or Beijing clamped down on outbound capital flows.
Melbourne apartments would have a tougher time, Mr Triguboff tipped as prices — and therefore development margins — were lower than in Sydney.
Demand for apartments in Sydney remained strong although price growth was flat, The Australian reported Triguboff saying.
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Harry Triguboff says Sydney apartment price growth was now flat

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A Northern Territory apartment has popped in tenth place in SQM's nationwide top ten discounted properties as a new entry. The two bedroom unit, 13/83 Aralia Street, Rapid Creek, NT was first listed for $349,000 in the beginning of 2015. 
According to SQM, after a year on the market, the vendor knocked this price down to a more comfortable $280,000 in February 2016 and has since cut a further $30,000 from the price to list at $250,000. 
<a href="/images/2016/04/27/Screen%20Shot%202016-04-27%20at%203.19.42%20PM.png" target="_blank">Click to enlarge</a>
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NT apartment makes SQM top ten discounted list

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Capital growth for capital city unit values nationwide recorded an increase of 4.9 percent year on year, according to CoreLogic RP Data's Hedonic Home Value Index, March 2016.
Unit values in Sydney increased 7.3 percent year on year, Melbourne 2.5 percent.
<a href="/images/2016/04/01/700_units_RP.jpg" target="_blank">Click to enlarge</a>
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Capital city unit values up 4.9 percent year on year: CoreLogic RP Data

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Brisbane’s inner city apartment precinct saw 5336 residential new and off the plan sales worth about $3.19 billion in 2015.
It was a 30 percent up on 2014 - and four times 2010, according to Place Projects’ 2015 analysis of the CBD apartment market.
The report found there were 18 new projects in the inner Brisbane precinct in 2010 compared with 26 last year.
There was only a 4 percent growth in average weighted sales price to $595,000.
Place Advisory director Lachlan Walker said one factor driving prices has been a recent shift from one-bedroom to two-bedroom apartments, which accounted for 56 percent of the market, compared with 39 percent in 2010.
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Brisbane apartment sales volume record

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The Century 21 Australia chairman Charles Tarbey has warned the market could be hit with an oversupply of new properties.
“Then all of a sudden people get a bit frightened and concerned about settling," he told the REB website.
"They’d rather just lose their deposit and walk away or find a way out than to go ahead with purchasing an investment property.”
Mr Tarbey said there will be people who have put deposits on two or three properties.
“They’re not major investors, they are mums and dads that are starting out.
"There will be a few of them, and they are going to have to sit there and question whether or not they can come up with the extra cash if the valuations don’t meet the contract price that the properties are sold at.
“That’s the greatest risk.”
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Off the plan settlement risk coming: Charles Tarbey

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The Manly silvertail apartment market is pumping, but Sydney suburbs more associated with fibros are not missing out when it comes to affordable luxury.
Just this month there's been the $7 million plus sale of coal miner Tony Haggarty’s Manly apartment (above) overlooking Fairy Bower.
It was scheduled to go to auction last Saturday, but was snapped up by a local buyer through McGrath agent Jake Rowe who had strong interest from two other buyers.
The four bedroom, three bathroom 430 sqm, Vince Squillace designed apartment is spread over two levels with a terrace with a glass walled plunge pool.
On the North Steyne promenade there was a $5,125,000 sale last week.
Another over two levels, the four bedroom apartment had 200 sqm of living space with four terraces, Ray White selling agent Adam Reeves said.
The property traded at $4.4 million in 2007. 
The Manly record still stands at $12.2 million when a five bedroom sub-penthouse down the road sold to the co-founder of Greenhill Caliburn, Peter Hunt and wife Ellie.
The Hunt couple bought the apartment off the plan with lap pool in 2008 in the Susan Rothwell designed Waillea building.
The median for a Manly four bedroom apartment is $2.6 million.
Manly's median unit price sits at $1.02 million, up from $710,000 in 2013, and $620,000 in 2008, according to CoreLogic RP Data.
A development application at 138 North Steyne could see another two level penthouse come up for sale shortly through Adam Reeves. 
Across town in fibro territory, the prices aren't quite that of the Northern Beaches. 
Despite being at record levels, Canterbury's average unit sale price is $650,000 with Bankstown's $470,000.  
The soon to be compete Mosaic residential building at Bankstown is being marketed as 'where luxury and location meet' with apartments ranging from $449,000 to $675,000, "with incomparable living in one of Sydney's most culturally diverse and vibrant communities."
This article was first published in the Saturday Daily Telegraph.
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Manly's prestige apartment sales spree

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Construction is set to start on the $60-million Ilixir apartment tower in Melbourne’s Cheltenham, its developers have announced.
Located at 2 – 6 Railway Road, Cheltenham, the 115-apartment project launched in 2015 is already 80 percent sold, according to its website <a href="https://www.ilixir.com.au" target="_blank">www.ilixir.com.au</a>.
The project is being developed by Oliver Hume Property Funds (formerly known as Synergy) and features one, two and three bedroom apartments starting from $360,000.
Ilixir will have a Lifestyle Manager, a concept borrowed from the latest trend in the US apartment sector that provide a concierge to help residents simplify and streamline daily tasks such as receiving deliveries and signing for parcels, allowing access for trades, coordinating with removalists and scheduling access to the building’s leisure facilities.
“Ilixir is the first Bayside apartment project to offer this unique service,” said Jamie Kay, director of Oliver Hume Apartments. “Beyond the project’s innovative design and fantastic location, the lifestyle manager feature has helped to boost enquiries since launch and appears to be one of the main reasons why the project is already 80% sold.”
Some of Ilixir’s other features include:
- Rooftop podium gardens designed by Chelsea Flower Show-winning architect Wes Fleming that offer wooden decking combined with lush plantings and a furnished lounge with an al fresco dining area for residents 
- A residents-only outdoor cinema 
 - All apartments offer modular open plan living by Doig Interiors including sliding screens that allow a bedroom to expand a living room or to open up the whole apartment for a gathering of friends and family. Each apartment also has a balcony.
The building will rise nine levels above Railway Parade offering views from over the bustling shopping strip below and past world class golf courses to the Bay and beyond.
The tower is close to cafes, restaurants, retail and the Cheltenham train station.
“Cheltenham offers homebuyers a rare mix of price growth potential, casual coastal location and a fully fledged restaurant and café culture on Charman Road,” added Kay.
The project aims for completion by Spring 2017.
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Work starts on $60-million Ilixir apartment project in Melbourne’s Cheltenham

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Two bedroom apartments account for the majority of the Sydney apartment stock, at 56% of occupied apartments., according to a report by Angie Zigomanis, senior manager of residential property at BIS Shrapnel in a report on the deterioration of affordability in Sydney.
Studios and one bedroom apartments account for another 28% of Sydney’s occupied apartment stock, with the remaining 16% containing three or more bedrooms.
The majority of movers into three bedroom apartments are owner occupiers (58%), with the higher percentage (31%) being fully owned.
"This suggests the majority of owner occupiers coming into three bedroom apartments are downsizers and are buying with full equity," Angie Zigomanis noted.
His study of Australian Bureau of Statistics, shows tenure differs across apartments in Sydney.
Studio and one bedroom apartments are dominated by rental tenants, who account for 70% of households moving into these apartments over the prior five years.
"In contrast, only 9% were fully owned suggesting that studio and one bedroom apartments are not attracting downsizers.
"Around 57% of movers into two bedroom apartments were tenants."
The report noted the deterioration of affordability in Sydney had encouraged a shift towards both apartments over houses, and also into middle suburbs compared to inner ring suburbs.
BIS Shrapnel’s Sydney apartments report found 55 per cent of apartment building approvals in 2014/2015 were located in middle-ring suburbs, compared with the 37 per cent in 2010/2011.
Overall commencements of apartments in buildings four storeys and above have increased from 8,300 dwellings in 2010/11 to the record 19,450 dwellings in 2014/15.
He noted dwelling completions exceeded underlying demand for the first time in 2014/15, with the deficiency falling slightly.
"However, given the estimated deficiency of 42,300 dwellings at June 2015, it will take some time for the market to return to balance, and this should still support an elevated level of new dwelling activity."
Median unit price growth remained high at 14.9% in 2014/15 compared to rental growth of just 1%.
"The result has been that indicative unit yields in Sydney are now around their previous lows of 2003 to 2005, at 3.7% in June 2015," the report noted.
 To find out more information, <a href="https://www.bis.com.au" target="_blank">click here</a>.
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Downsizers with full equity snapping up Sydney three bedder apartments: BIS Shrapnel

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Kevin Turner, host of Australia's most listened to property podcast RealEstateTalk tweeted an estimated apartment completion chart this morning. 
The high-rise hotspot chart shows Melbourne's CBD and the Docklands have the most estimated potential apartment completions by 2017.
Sydney's CBD and Parramatta come third and fifth in the list with a combined 4,500 apartments.
Victoria have 11 suburbs in the list, New South Wales have six, Queensland have two and South Australia have one.
 
<img src="/images/2016/01/29/Screen%20Shot%202016-01-28%20at%2010.18.44%20am.png" alt="" width="523" height="506"> 
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jrobinson-rf4aSBido9

Tweet of the day: Melbourne tops estimated apartment completion chart

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The Astor, Sydney CBD apartment of the late Sir Tristan and Lady Antico fetched $2.15 million at its recent auction. 
<a href="https://sydneysothebysrealty.com/5353918/6-1-125-Macquarie-Street-Sydney" target="_blank">The sixth-floor, three bedroom north-east corner</a> apartment was bought by the Antico's some three decades ago, becoming their home after the trophy mansion Tregoyd in Mosman was sold in 1996 for $11 million.
Sir Tristan, founder of Pioneer Concrete, died in 2004, and his widow Lady Dorothy last year .
Agents David Newgrosh and Tony Barron secured the sale at Cooley Auction.
The pre-auction price guide was between $1.8 million and $2 million. 
Macquarie Street's Astor building has ranked among the most prestigious high-rise apartment block since 1922.
This article was first published in the Saturday Daily Telegraph.
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