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

Joel Robinson

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

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

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

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

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

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

Bottega House secures landmark riverfront site in St Lucia 

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

SIERA kicks off construction at Northcliffe tower Exhale

Bondi Beach

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Backpacker accommodation right opposite Bondi Beach, on Campbell Parade has been listed for sale.
It is the <a href="https://www.realcommercial.com.au/property-hotel+leisure-nsw-bondi+beach-502144966" target="_blank">Bondi Backpackers property</a>.
Craig Pontey of Ray White Double Bay, who is taking the property to auction, say it has 52 rooms accommodating 138 guests in configurations from single rooms to 6-person dormitory rooms.
There’s additional income from two prime retail tenancies that also front Campbell Parade: Bavarian Bier Café and Backpacker World Travel.
"Total income from the property is currently in the order of $1.364,989 per annum, and as an ideal owner-operator business," he said.
"I believe that there’s considerable potential to increase income," he said.
The site area is 448 sqm with a 12m frontage to Campbell Parade.
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Bondi Backpackers on Campbell Parade, Bondi Beach for auction

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The photographer Mark Morffew has listed his ultra bright designer pad overlooking Bondi Beach.
Accessed through an expensive private front courtyard, <a href="https://www.realestate.com.au/property-apartment-nsw-bondi+beach-123870394" target="_blank">the two bedroom, two bathroom apartment</a> comes with interiors by Lawless &amp; Meyerson.
The walls are lined with photographic works.
The living and dining areas flow onto an ocean-facing terrace.
The master bedroom offers terrace access and the second bedroom opens to a rear entertaining courtyard.
Belle Property Double Bay agent Albert Sassoon has a November 16 auction date.
One of the blocks most recent sales came in May when other two bedroom apartments sold for $3.8 million and at $4.2 million. 
He paid $2.9 million for the 94 sqm Notts Avenue apartment.
The Pacific Terraces development was undertake by Bill Shipton in 1983 with financing from the late Kerry Packer.
This article was first published in the Sunday Telegraph.
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jchancellor-FAypfDUnLy

Mark Morffew lists at Bondi Beach through Belle Property

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The developers of the Pacific Bondi, Rebel Property Group's Allen Linz, Capit.el Group's Eduard Litver along with Gil Baron have splashed out $19.12 million for one of Bondi Beach's most iconic retail premises, the 1951 Bates Milk Bar.
<a href="https://www.realcommercial.com.au/property-retail-nsw-bondi+beach-502077466" target="_blank">The 124 Campbell Parade corner milk bar</a> was known for its choc-malt milkshakes until its closure in 2001.
It sold at just over 3 percent given heavy competition from developer, Theo Onisforou who was the underbidder for the premises on the corner of Campbell Parade and Hall Street.
Developer Danny Avidan, who recently secured the Bronte RSL site, also attended the 45 minute auction which saw a $10 million opening bid.
The buyers plan to redevelop the property which is currently leased to retailers Platypus Shoes, Natalie Alamein, Mezi Retail and Gelatissimo.
This article was first published in the Saturday Daily Telegraph.
 
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Bates Milk Bar at Bondi Beach sells for $19.12 million

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Greater Western Sydney AFL star Shane Mumford and fiancee Eva Konta have secured $2.155 million for their Bondi Beach garden apartment.
Mumford, who sat in the front row at the mid-week auction, paid $1,181,500 for the two bed, two bathroom garden unit in 2011.
LJ Hooker Bondi Beach agent Calum Walters secured the listing after the couple bought a four bedroom home in Pagewood.
Mumford had been the underbidder on a $2.2 million warehouse conversion in Rozelle.
It was almost sold to Braith Anasta's mother, Kim who missed out on the apartment after bidding up to $2.15 million through Jason Black.
This article was first published in The Saturday Telegraph.
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GWS star Shane Mumford sells at Bondi Beach

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Over 100 real estate industry professionals faced the winter chill at Bondi Beach on Monday, spending the night sleep on the sand to raise funds and awareness for Youth Off The Streets. 
Damien Cooley of Cooley Auctions, who put together the initiative, had his initial expectations exceed, with 104 people registering for the event.
Hi initial total fundraising goal was also far surpassed, with it currently sitting at over $133,000.
<img src="/images/2016/08/26/700_jack.jpg" alt="">
Cooley and Youth off The Street’s Father Chris Riley have had a relationship for over 10 years.
There were a number of agencies that raised money as a team. Savills Real Estate is the current fundraising leader. 
Rain on the day didn't get in the way of the sleep out going ahead and despite the unfavourable conditions, the attendees were in great spirits.
Cardboard boxes to sleep on were provided by Storage King Eastgardens, with some attendees also bringing swags.
<img src="/images/2016/08/26/700_group.jpg" alt="">
Everyone made it through the night to be greeted the next morning with a bacon and egg roll from a BBQ trailer by Youth Off The Streets Volunteers.
Damien Cooley of Cooley Auctions and Youth off The Street’s Father Chris Riley have had a relationship for over 10 years.
Damien is a member of the Youth Off The Streets development committee and dedicates a lot of professional and personal time to the cause. 
“The wind got up at about 3am but I think everyone had a pretty good sleep and it really was an iconic experience sleeping on Bondi Beach,” Damien said. 
The success of the event has encouraged Damien to aim higher, with hopes of one year raising $1 million for Youth off The Streets and getting more of the industry involved.
<img src="/images/2016/08/26/700_group2.jpg" alt="">
“Next year we would really love all of the real estate agencies to really get behind and support the event by promoting it within their networks”.
“Youth Off The Streets is all about taking kids off the street and giving them a home and as agents and auctioneers, we put people in homes for a living!”
The Real Estate Sleep Out everydayhero donation page will be open until August 30, so it’s not too late to contribute to this great cause and help change the lives of youth in need.
<a href="https://www.everydayhero.com.au/event/youthoffthestreetssleepout" target="_blank">Click here to donate</a>
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Estate agent Bondi Beach sleepout raises $130,000 for YOTS

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A strata store leased to men’s designer swimwear brand Orlebar Brown in Sydney’s Bondi Beach will go under the hammer on September 6. 
The British label recently opened its flagship store on <a href="https://www.gunningre.com.au/1P4098" target="_blank">1/79 Gould Street, Bondi Beach</a>, signing a six-year lease that commenced in June.
Orlebar Brown’s entry is another example of Bondi’s status as an affluent beachside location and joins the swimwear label’s other top-end locations such as St Tropez, Cannes, London’s Notting Hill, Mayfair and New York’s Soho.
Gunning’s director of Metropolitan Sales and Investments Tom Speakman said Bondi has undergone many changes and is a tightly held commercial and retail property market.
“Bondi is one of the hottest locations in Australia with its mix of high end brands and popup shops, eateries, luxury accommodation and lifestyle products,” Speakman said. 
In the last 30 years, Bondi has grown from a suburb with a median house price of $246,000 to recording one of the highest apartment sales in the country at $25.2 million at the renowned Pacific Bondi Development, according to the media release.
“The locals are affluent, with a high proportion of professionals, creatives and merchant bankers living in the area. Sixty per cent of residents are in managerial or professional roles, earning some 50 per cent above the Sydney average wage, which makes it appealing to retailers,” Speakman said.
The net rental for the 57 sqm store is $105,102 annually, exclusive of GST with options until 2026. There will be four percent increases from 2019.
The property will be auctioned at auctionWORKS at Sydney’s  50 Margaret Street.
The listing agents are Tom Speakman and Harry Sullivan of Gunning Real Estate.
 
 
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Bondi shop leased to fashion swimwear label goes to auction

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Damien Cooley, director of Cooley Auctions, has launched the first Real Estate Sleep Out, bringing the real estate industry together to raise money for Youth Off The Streets.
The sleep out involves spending the night on Bondi Beach this Monday August 22 to raise awareness and funds for the charity.
Father Chris Riley's Youth Off The Streets offers a continuum of care to young people between the age of 12 - 22 who are chronically homeless, abused, suffering from addiction or in general need of help.
They offer a range of programs including crisis and short term accommodation to long term residential care, counselling, secondary education and rehabilitation.
Youth Off The Street have extended their services to various communities and regional centres throughout NSW via our Outreach Programs.
They also operate a volunteer run food van service each night in Kings Cross.
They have developed these programs in response to the growing needs of our city and regional communities over the past 20 years.
For more information and to help raise funds for the charity <a href="https://everydayhero.com.au/event/realestatesleepout" target="_blank">click here</a>.
Property Observer has donated webspace for the marketing campaign of the charity initiative.
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Real Estate Sleep Out charity fundraiser

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Long term residential leases have been a rarity in the Sydney rental market, but one landlord at Bondi Beach seeks tenants who won't face being turfed out - or want to leave - after just six months.
The seasonal turnover in Bondi tenants is most likely higher than most locations, but <a href="https://www.thedriftbondi.com.au/residential/#the-drift" target="_blank">The Drift</a>, (above) a new 16-apartment block just a stones throw from the beach, has been pitched at occupants who want to settle in for 24 months or longer.
"I'd be happy to offer 36 months or 48 months," the building managing agent Byron Rose said, saying it was a small step in Sydney embracing the lengthy-stay European rental model.
The one and two bedroom lettings will go to market with an open day next weekend.
The 12 one bedders with study nooks are offered with a guide of $800 and the four units with two bedrooms, and also with study, expecting to lease around $850 a week.
It is owned by an eastern suburbs family syndicate who have redeveloped the corner complex after 25 years ownership.
"The family see ownership as inter-generational, and would like to have longterm tenants too" Byron Rose, the Rose and Jones leasing manager.
He said the idea came from demanding young professionals who want residential surety while they save for their own home.
“They want to live in Sydney’s hippest suburbs, but face a choice of just older, run-down buildings that aren't inviting. 
"They want to rent something they are proud of in a location they are likely priced out when it comes to buying."
Located on the corner of Hall and Gould streets, the apartments were designed by Silvester Fuller to fuse functionality and aesthetics.
They all include open plan living, a separate study hub and private timber-lined balconies with plantings. 
The one-bedroom apartments have around 57 square metre internal space.
Besties Cherie Allen and Chris Perkins got a recent look and love that The Drift encourages long term tenancy. It will be their first time away from home and they've heard horror high turnover rental stories. 
"Once I'm in, I'm not leaving," Allen said, admiring the craftmanship inside and the views outside.
There are wide window ledges which you can sit in, soak up the sun and watch world below, Perkins noted.
They don't want to do the rental inspections over and over again because the landlord wants to sell.
They've seen other places in Bondi backstreets that are old and run down - and you have to pay a lot for them. 
Statewide there are around 750,000 properties rented officially, with around 250,000 of these tenants seeking bond refunds annually from the Rental Bond Board showing the very high turnover.
For many decades protected tenants existed in NSW, safe from eviction. Their number sat at 200,000 in the early 1960s - about 70 per cent of all privately rented accommodation.
That dropped to fewer than 800 by the mid-1990s, and as recent as last year there was a Homebush tenant claiming such status under the 1948 act as a child of the original lease owner. 
No one is suggesting a return of the highly regulated days of protected tenants - where rents could only be raised by the Fair Rent Court - which stemmed as a result of wartime measures. 
But with more elderly in the rental market, the market place pressure will see landlords giving thought to offering longer tenure.
This article was first published in the Saturday Daily Telegraph.
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Long term rental tenancy coming to Bondi

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The Binetter family have sold their Bondi Beach apartment block for $6.45 million at Cooley Auctions.
The apartment building features nine one bedroom apartments, with three units on each of its three levels.
Rents showed between $420 and $460 per week for the units.
Bondi Realty agent Molly Ruan stated in her pre-auction marketing e-mail that: "All parties involved in the property NEED IT SOLD on the day of auction."
There were eight registered parties with five participating. Auctioneer Damien Cooley announced it on the market at $6.05 million having taken an opening bid of $5 million.
There were just the two bidders after its on the market advisory.
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Binetter family secure $6.45 million for Bondi Beach apartment block

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Bondi Beach's iconic Bates Milk Bar has been listed by the Bates family.
Situated on the corner of Campbell Parade and Hall Street, Bates Milk Bar was established in 1951 and has left an impression on anyone who passed by for their famous choc-malt milkshakes.
Their doors closed in 2001 having been the focal point of the community for over 50 years.
The 1920's style freehold building is currently leased to Platypus Shoes, Gelatissimo, Natalie Alamein, Mezi Retail and also offers three residential tenancies.
Colliers International agents Miron Solomons and Matt Pontey have the listing in conjunction with Anthony Bray of Cushman &amp; Wakefield for public auction September 23.
The property receives a net income of approximately over $600,000 plus GST.
Solomons said a mixture of blue-chip retail tenants and residential accomodation offers a diverse and low risk income stream with the benefit of future boutique residential improvements. 
 “An offering of this calibre is to be considered a once in a lifetime opportunity and we expect high levels of interest from high net worth private investors and boutique investment funds, both nationally and off-shore, looking to acquire a renowned, quality and secure trophy investment” he said.
Head of Investment Services, Australia for Colliers International, Matthew Meynell said that Bondi has traditionally been a tightly held market.
“Bondi has been a tightly held market with only a handful of commercial properties trading every year," he said.
"Recent development activity in the area, coupled by growing support from Waverley Council has seen the area reinvigorated and interest levels peaking in Bondi’s commercial market” 
 
 
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