Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

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Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

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Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Joel Robinson

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

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Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

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Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

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Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

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La Vera closes in on completion as Macquarie Park continues residential transformation

Brisbane developer Red &amp; Co's decision to include dual key apartments in its debut Gold Coast apartment development, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO Varsity Lakes</a>, is proving to be one of the project's biggest drawcards, with buyers quickly snapping up the flexible residences.

More than half of the project's 36 dual key apartments have already sold, helping drive COMO beyond the 50 per cent sold mark within the first month of launch.

The strong response highlights growing demand for apartment designs that can adapt to changing lifestyles, with buyers increasingly looking for homes that accommodate multi-generational living, provide rental income opportunities or simply offer greater flexibility over time.

Located on the shores of Lake Orr, COMO will deliver 156 apartments across 16 levels, with the dual-key residences forming a limited release within the broader development.

Each combines a primary two-bedroom apartment with a fully self-contained studio on a single title, connected by a shared foyer and lockable internal door. The design allows owners to house ageing parents, adult children or guests while maintaining privacy, or lease the secondary residence to generate additional income.

Just 17 of the original 36 dual key apartments remain available.

[smartcode_project:default project_id=135546 project_image_fid=367096]

The innovative configuration combines two fully self-contained residences on a single title, typically comprising a primary two-bedroom apartment alongside a separate studio residence, connected via a shared foyer and lockable internal door.&nbsp;

The model is proving particularly attractive to owner occupiers navigating changing family dynamics and the realities of the current housing crisis.&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363511]

<a href="https://www.apartments.com.au/project-marketer/npa">NPA</a>&nbsp;CEO Andrew Erwin said dual key living was resonating strongly with modern buyers because it delivered both financial flexibility and practical lifestyle benefits.&nbsp;

“The housing crisis and rising cost of living are fundamentally changing how Australians think about home ownership,” Erwin said.&nbsp;

“Dual key apartments provide a genuine solution for families who want to stay connected while maintaining independence. Parents can help adult children save for a future home, ageing parents can remain nearby without moving into aged care, and owners still retain privacy and flexibility.

“Importantly, buyers are also recognising the financial advantages. It creates the opportunity to generate additional income from part of the home without the holding costs associated with owning a separate investment property.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363509]

Unlike traditional dual occupancy arrangements, the residences operate under a single title, meaning owners only incur one set of body corporate fees, council rates and holding costs.&nbsp;

The secondary residence can also evolve over time - functioning as guest accommodation, a home office, creative studio or private retreat before later becoming an income-producing asset.

<a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co</a>&nbsp;Director and Co-Founder David Laverty said the strong early sales reflected growing buyer urgency and changing priorities within the market.&nbsp;

“Securing more than half of COMO’s residences within such a short timeframe is an outstanding result and a clear endorsement of both the design and location,” Laverty said.&nbsp;

“Buyers are responding to the combination of location, connectivity and amenity, but ultimately it’s value relative to other East Coast markets that is driving enquiry.”&nbsp;

“We’re also seeing strong interest from owner occupiers looking for homes that can adapt with them over time. Flexibility has become one of the most important considerations for buyers in today’s market.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363515]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, COMO features a mix of one-, two- and three-bedroom residences with 2.7-metre ceilings and larger-format floorplans aimed at owner occupiers, downsizers and lifestyle-focused buyers.&nbsp;

The development will feature an extensive rooftop recreation and wellness offering including a 25-metre lap pool, sundeck, barbecue and dining areas, gym, sauna, plunge baths, landscaped gardens, wellness spaces and rooftop pickleball and paddleball courts.

The remaining dual key apartments range from 137 sqm to 167 sqm and include generous three-bedroom layouts with separate self-contained studio accommodation and dual parking.&nbsp;

Erwin said the dual key concept represented a broader shift in how Australians would live in the future.

“People want homes that can evolve with their lives,” he said.&nbsp;

“A dual key apartment can suit a family today, support an ageing parent tomorrow, and potentially generate income later on. That adaptability is becoming incredibly valuable in the current environment.”

Prices currently range from $2,115,750 to $2,583,000.&nbsp;

[smartcode_project_cta:default project_id=135546]

Inter-generational living drives demand for COMO’s dual key apartments as housing pressures reshape buyer priorities 

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/ceerose">Ceerose</a> has doubled down on its Leichhardt ambitions, lodging its second State Significant Development Application (SSDA) in the suburb in the last six months.

Their newest proposal seeks to transform a former industrial precinct into a new residential community centred around the adaptive reuse of one of the site's heritage warehouse buildings.

The new project, on a 6,930 sqm block at&nbsp;<a href="https://www.apartments.com.au/new-apartments/40-76-william-street-leichhardt-nsw-2040">40–76 William Street</a>, will bring more than 200 apartments to a suburb that has seen little to no new supply in recent years. It follows Ceerose's late 2025 SSDA for a mixed-use apartment project on nearby Parramatta Road, signalling the developer's growing investment in Sydney's Inner West.

Ceerose Founder Edward Doueihi told Apartments.com.au the developer’s long-standing presence in Leichhardt and the Inner West had given it a strong understanding of how the area has evolved and where its future opportunities lie.

“Ceerose has had a long-standing presence in Leichhardt and the Inner West, giving us a unique understanding of the area’s evolution and future potential,” Doueihi said.

“Having delivered projects throughout the region, we have witnessed the suburb’s transformation first-hand and understand the opportunities for its continued growth.”

Doueihi said that understanding also informed the planning process, with a comprehensive Stakeholder Engagement Outcomes Report prepared before the application was lodged.

The report identified the key issues and concerns raised by neighbouring residents and other stakeholders, allowing those matters to be considered and incorporated into the design where appropriate.

He said the delivery of additional housing would also play an important role in supporting the revitalisation of Norton Street and the Italian Forum.

“By increasing the local residential population, the development is expected to strengthen demand for local businesses, encourage further investment, and help restore the vibrancy that made the precinct a thriving destination in the early 2000s.”

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="7258c54c-8167-479e-8361-2d5fca9915b4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010B%20-%20CGI%20-%20View%202.jpg?VersionId=S9DQfxu_jpcB5LrAEYFUbyMzg5odW6i5" />

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the redevelopment would involve the demolition of four existing industrial buildings while retaining and adaptively reusing the site's most significant warehouse. The retained structure would anchor a new residential precinct comprising five interconnected buildings arranged around a large central landscaped courtyard, with heights stepping from five storeys along the surrounding residential streets to 11 storeys at the William Street corner.

According to the Architecture Design Report by Woods Bagot, the proposal "seeks to create a residential village centred around a generous green heart while celebrating the site's industrial heritage through the adaptive reuse of the existing warehouse building."

The development would comprise 203 apartments, with 188 proposed as build-to-sell residences, alongside 15 affordable housing apartments.

Rather than treating the retained warehouse as a standalone heritage object, Woods Bagot has sought to weave the site's industrial history throughout the masterplan. The proposal retains the north and west facades of the landmark corner warehouse, while new buildings reinterpret the site's brick-and-steel industrial language through their material palette and architectural expression.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="9e8c64c2-881b-49e1-8c90-6b6acaaa45b6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010C%20-%20CGI%20-%20View%203.jpg?VersionId=Qm8_8H_Xrg_sc4Mdjc59vlAcKF_5wRTb" />

The design is organised around what Woods Bagot describes as a "green heart", a landscaped communal open space that reinstates the leafy character removed when the site became an industrial storage facility. A new pedestrian laneway running through the site would improve permeability between William, North and Francis streets, linking residents through landscaped public spaces while activating the ground plane.

Residents would have access to communal gardens and shared recreation areas distributed throughout the development. Sustainability has also been prioritised, with the project targeting an average 7.9-star NatHERS rating. Proposed initiatives include rooftop solar generation, rainwater harvesting, passive solar design, naturally ventilated lobbies, extensive cross-ventilation and the reuse of existing building fabric to reduce embodied carbon.

The adaptive reuse strategy became a defining feature of the application after heritage investigations found only one of the site's industrial buildings could feasibly be retained. The Heritage Impact Statement concludes that preserving the key warehouse façades while referencing the site's industrial character throughout the new development provides an appropriate balance between renewal and conservation.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="efffafdb-594f-4e2b-a067-921fd51c05e1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010D%20-%20CGI%20-%20View%204.jpg?VersionId=DPmE4.k16YRt0i27hEZVtJAffarpvUfx" />

"Retention and adaptation of the site buildings has been explored but found not to be feasible except for the tallest building, whose street facades will be retained," the heritage report states.

"The proposed building will interpret the brick and steel character of the subject site, including reuse of some components and construction of a large 'sawtooth' structure in the proposed open space."

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="3bfef2b5-83f5-40cd-9cab-767092f34266" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010E%20-%20CGI%20-%20View%205.jpg?VersionId=7asb3i_ql4ybbuJOUb5UHBEIy0Q9t.DF" />

The William Street site is located around 300 metres from Leichhardt North Light Rail station and a short walk to Norton Street's retail, dining and hospitality precinct. The surrounding area has increasingly become a focus for urban renewal given its proximity to public transport and the Parramatta Road corridor.

Doueihi founded Ceerose in 1998 and has grown the business to become one of Sydney's more active apartment developers in recent years, with completed projects including The Alex Collective in Alexandria, Abbie's Lane in Annandale, and the award-winning Munro House in Elizabeth Bay. They are currently delivering Belgravia, 17 luxury apartments in Potts Point.

First look: Ceerose doubles down in Leichhardt with adaptive reuse of former warehouse site

Apartment Sales

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Four out of the top ten locations for the highest proportion of auction listings for units are in Melbourne, with Kew East and Carlton North beating the Sydney suburb of Bronte to round out the top three.
According to CoreLogic RP Data, Balaclava and Surrey Hills were the only other Melbourne suburbs to make the list.
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mick.cee-iDmgDDAmu8

Top ten suburbs for highest proportion of unit auction listings: CoreLogic RP Data 

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Inner north and south Melbourne has been tipped as two areas with good apartment prospects for first home buyers.
REIV chief executive officer Enzo Raimondo said Melbourne’s most affordable one-bedroom apartments are located in Carlton which recorded a June median price of $207,750.
“Affordable property around Melbourne is not restricted to the outer suburbs. Apartments allow first home buyers to get a foothold on the property ladder, especially in highly sought after areas such as Carlton,” he said.  
"Meanwhile Carnegie, in Melbourne’s south-east, delivered a median for similar sized apartments of just $292,500.
Other suburbs that rank highly included Elwood and St Kilda. These neighbouring suburbs boasted one bedroom median prices of $389,000 and $390,000 respectively.
"Buyers with budgets in the $400,000 range are able to broaden their search – not only geographically but also by considering two-bedroom options."
Footscray and Maribyrnong recorded median prices for two-bedroom apartments in the most recent quarter of $408,000 and $410,000 respectively.
Glenroyrecorded the city’s lowest three-bedroom apartment median price for the June quarter at just $465,000. Two-bedroom apartments had a median price of $375,000. 
Toorak had Melbourne’s highest median for two and three-bedroom apartment. Other top apartment suburbs include Brighton, Richmond, South Yarra and Docklands. 
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jonathanchancellor-7SQnKwU6yx

Melbourne inner, middle suburbs providing best buys

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Holdmark's latest Kingston Quarter, Shepherds Bay project at Meadowbank failed to match trend expectations when CBRE sought to sell 150 apartments on the weekend.
Just 65 of 150 the apartments sold on the first day of the launch in the Robertson + Marks designed offering.
Penthouses and split-level three-bedroom apartments were the most popular, according to Fairfax Media, with the highest price at $1.8 million.
One-bedroom apartments were selling at $610,000 or more.
The Shepherds Bay urban project, at Meadowbank, has some nine stages of residential development with an estimated dwelling cap of 2,005 dwellings. 
There were a reported three weekend offshore buyers requiring FIRB approval.
In July last year David Milton, managing director of CBRE residential, was selling <a href="https://www.shepherdsbay.com.au/" target="_blank">Shepherds Bay</a> one-bedroom apartments starting at $495,000, two-beds at $655,000 and three-beds at $845,000.
The Shepherds Bay site is located 14 kilometres north-west of the Sydney CBD and on the Shepherd’s Bay foreshore between Ryde and Meadowbank.
The site previously comprised part of the former Meadowbank Employment Area which is transitioning from manufacturing and light industrial uses towards the development of a high density mixed use neighbourhood.
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jchancellor-FAypfDUnLy

CBRE Shepherds Bay sales pitch flops on Parramatta riverfront

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A private investor has paid $9.55 million for an 11 unit apartment block with a mix of four, two and three bedroom units close to the Sydney CBD.
The <a href="https://www.domain.com.au/sold/38-morton-street-wollstonecraft-nsw-2065-2012106146" target="_blank">30 Morton Street Wollstonecraft</a> property has 15 undercover parking spaces and is only eight years old. Apartments within the block will be offered for sale immediately, said selling agent John Simpson-Morgan from Raine &amp; Horne.
“We’ve managed the property for the owner since the building’s completion in 2007, and it is currently fully-leased and generating an annual income of $380,000,” Mr Simpson-Morgan said.
"ML Noble Properties Pty Limited bought the whole building in one line and plans to immediately offer each unit for sale individually.
“The owner plans to take advantage of the strength of the local unit market, caused by lack of stock of similar apartments in the area, historically low interest rates, and strong interest in this type of product from overseas buyers."
Mr Simpson-Morgan said over the course of the 4 week auction campaign he fielded 141 enquiries and showed it to more than 75 interested parties. On auction day there were 7 registered bidders. 
 
<h1 class="address"> </h1>
 
 
A modern apartment block at 38 Morton Street Wollstonecraft, on Sydney’s Lower North Shore, sold at auction on Tuesday 11 August to ML Noble Properties Pty Limited, a privately held Mosman-based company, for $9.55 million.
The winning vendor is planning to offer each unit for sale immediately to individual owner-occupiers and mum and dad investors, according to selling agent John Simpson-Morgan, Principal of Raine &amp; Horne St Leonards. 
ML Noble Properties Pty Limited bought the whole building in one line and plans to immediately offer each unit for sale individually.
” says Mr Simpson-Morgan.
The average price for an apartment in Wollstonecraft is $890,454, according to the latest data from Raine &amp; Horne.
The block of 11 apartments includes a unique four-bedroom apartment, plus a mix of 2-bedder and three 3-bedder units, and is built on a large site area of 841 sqm, including a gross building area of 1,386 sqm. 
“Though the property is on a strata title, there has been only one owner since 2005,” says Mr Simpson-Morgan, who originally sold the undeveloped site to the vendor.
“We’ve managed the property for the owner since the building’s completion in 2007, and it is currently fully-leased and generating an annual income of $380,000.”
The final sale price of $9.55 million exceeded the vendor’s expectations significantly, according to Mr Simpson-Morgan, who contends that the result underlines the demand for quality properties in desirable locations such as Wollstonecraft.
 
Apart from its market value, the apartment block’s proximity to North Sydney Boys, one of Sydney’s leading selective high schools, and Waverton Railway Station, attracted attention.
“The property is also located 550 metres from popular Brennan Park, which will appeal to future buyers and tenants,” says Mr Simpson-Morgan, who will be managing the resale process on behalf of ML Noble.
“This is an ultra-modern block that comes with 15 undercover car spaces and will deliver excellent returns and generous depreciation benefits to future investors, given the property is still only 8 years old.”
To make enquires about buying an apartment in the complex at 38 Morton Street, Wollstonecraft, contact Raine &amp; Horne St Leonards on 02 9439 2233.
 
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Wollstonecraft apartment block sold for $9.55 million

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Stockbroker Glenn Rosewall - who headed the BBY until the firm was put into administration on May 18 - has sold his Bellevue Hill apartment.
The former executive chairman led the brokerage for 11 years, owning a majority stake in the company along with his father, Ken Rosewall, the tennis great.
The three-bedroom apartment comes with views across the harbour
Glenn Rosewall bought it in 2010 for $1.7 million.
Through more than $2.3 million was tipped, it fetched $2,175,000 through LJ Hooker Double Bay agent Alain Waitsman who had it scheduled for <a href="https://doublebay.ljhooker.com.au/MPMF93/4_3-bradley-avenue-bellevue-hill" target="_blank">August 1 auction</a>.
Set on the top north-east corner of a boutique security block of four, the contemporary apartment is moments to Bellevue Hill shopping village. 
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Stockbroker Glenn Rosewall's Bellevue Hill apartment sold

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The Real Estate Institute of Victoria March 2015 research pinpointed 17 suburbs where one bedroom apartments can be bought for under $300,000.
Box Hill comes with a median of $299,500.
Wendouree was the cheapest, with a median asking price of $130,000.
<table style="height: 324px; width: 353px;" border="1"><tbody>
<tr>
<td class="s4">Suburb</td>
<td class="s4">Median Price</td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr>
<td class="s5">Box Hill</td>
<td class="s6">$299,500</td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr>
<td class="s5">Carnegie</td>
<td class="s6">$295,000</td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr>
<td class="s5">Ascot Vale</td>
<td class="s6">$294,500</td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr>
<td class="s5">Moonee Ponds</td>
<td class="s6">$293,000</td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr>
<td class="s5">Murrumbeena</td>
<td class="s6">$292,500</td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr>
<td class="s5">Thornbury</td>
<td class="s6">$292,000</td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr>
<td class="s5">Brunswick East</td>
<td class="s6">$290,000</td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr>
<td class="s5">Reservoir</td>
<td class="s6">$287,000</td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr>
<td class="s5">Lilydale</td>
<td class="s6">$285,500</td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr>
<td class="s5">Bundoora</td>
<td class="s6">$270,000</td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr>
<td class="s5">Kingsville</td>
<td class="s6">$264,050</td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr>
<td class="s5">Carlton</td>
<td class="s6">$207,000</td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr>
<td class="s5">West Footscray</td>
<td class="s6">$200,000</td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr>
<td class="s5">Frankston</td>
<td class="s6">$192,000</td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr>
<td class="s5">Sunshine</td>
<td class="s6">$175,000</td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr>
<td class="s5">Albion</td>
<td class="s6">$165,000</td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr>
<td class="s5">Wendouree</td>
<td class="s6">$130,000</td>
</tr>
</tbody></table>
Source: <a href="https://www.reiv.com.au/PROPERTY-DATA/Median-Prices/Median-Prices-by-Bedrooms/Unit-1-bedroom" target="_blank">REIV</a>
</body></html>

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