The final apartments in the most recently completed new development in Balwyn present some of the largest and most exclusive ever delivered in one of Melbourne’s most established and character-rich neighbourhoods.

Boutique developer&nbsp;<a href="https://www.apartments.com.au/developers/wulff-projects">Wulff Projects</a>,&nbsp;alongside partner <a href="https://www.apartments.com.au/developers/pga-group">PGA Group</a>, has just finished <a href="https://www.apartments.com.au/buildings/threadneedle-balwyn-1-5-threadneedle-street-balwyn-vic-3103">Threadneedle</a>, 17 home-sized residences designed completely for the owner-occupier.

Named after its location on Threadneedle Street, the new project has been shaped by the heritage fabric of Balwyn. It offers two low-rise buildings of eight and nine apartments respectively, designed to emulate traditional standalone homes.&nbsp;

[smartcode_project:default project_id=27816 project_image_fid=355582]

John Scaramuzzino, Director at <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, explains the design intention.

“Given the quiet residential character of the street with many homes dating back to the 1930s and 1940s, we approached Threadneedle wanting to appear less as a collection of apartments and more as a traditional residence. This led to creating not one but two buildings that could “breathe” with larger garden-based apartments functioning more like small homes.”

[smartcode_project:default project_id=27816 project_image_fid=355605]

The north-facing residences are nestled among extensive landscaped gardens by Ben Scott Garden Design, with over one-third of the site dedicated to greenery. The resulting setting is one of calm seclusion, where architecture and landscape work in tandem to offer immediate liveability.

With construction now complete, the final apartments include a top-floor, single-level penthouse residence priced from $2.8 million. This home offers three bedrooms, a dedicated study, two bathrooms plus powder room, and three car spaces with an oversized storage room.&nbsp;

Interiors prioritise spatial comfort and natural light, with three-metre-high ceilings, oversized internal doors and a full-width terrace oriented to the north, east and west.&nbsp;

[smartcode_project:default project_id=27816 project_image_fid=355604]

Floor-to-ceiling double-glazed windows ensure thermal performance across seasons, supported by automated external blinds, zoned heating and cooling, and a fireplace for added ambiance.

Each apartment has been individually designed to maximise privacy and garden outlooks. Kitchens combine refined finishes with practical considerations: stone benchtops, butler’s pantry, full-height joinery and concealed rangehoods.&nbsp;

The inclusion of dedicated home offices responds to contemporary living patterns, while bathrooms feature sculptural bathtubs and brushed nickel fixtures.&nbsp;

[smartcode_project:default project_id=27816 project_image_fid=355590]

Threadneedle also integrates best-practice sustainability measures, achieving a 7 Star average NatHERS rating. Initiatives include solar PV systems, rainwater harvesting for toilet flushing and irrigation, and high-performing building insulation. These elements enhance daily comfort while reducing ongoing maintenance and energy demand.

"We believe Threadneedle sets a new standard of design excellence and building quality for Balwyn,"&nbsp;Scaramuzzino added.

"It’s an architectural response we’re particularly proud of, and one we’re sure residents will be equally proud to call home."

[smartcode_project_cta:default project_id=27816]

Staff Writer

Final homes remaining as Threadneedle, Balwyn completes construction

Joel Robinson

Sydney's top 15 new apartments developments set to launch in 2026

Developer-builder <a href="https://www.apartments.com.au/developers/dasco-australia">DASCO</a> has pushed beyond the now-standard inclusions of rooftop pools and landscaped podiums at its recently launched new Epping project, Senso.

It has laid out over 4,000 sqm of resident-only amenity in a move designed to compete directly with low-density housing on livability, not just density. The result is a development that supports genuine daily use through purposeful spaces distributed across its five-building, 479-apartment precinct.

[smartcode_project:default project_id=134954 project_image_fid=4396]

Two rooftop pools form the anchor of Senso. One is a 27-metre lap pool adjoining a heated spa, designed for everyday fitness rather than just summer leisure. The second sits on a lower podium, allowing different buildings to share in vertical access and reducing crowding during peak times.

It is the secondary spaces that start to distinguish Senso from other large-scale suburban projects. A rooftop cinema is integrated into a landscaped terrace, offering open-air screenings with natural ventilation and passive cooling.&nbsp;

The inclusion of a “sensory walk”, an elevated boardwalk that threads through the site, suggests a rare investment in non-commercial, non-essential amenity: space for quiet movement that doesn’t double as access or traffic circulation.

[smartcode_project:default project_id=134954 project_image_fid=4402]

The gym and wellness centre, often relegated to a small ground-floor room in many builds, takes on more substance here. Residents have access to a fully equipped gym, as well as outdoor yoga areas and meditative zones that integrate greenery and natural light.&nbsp;

The Club Lounge is similarly designed to support multiple use cases, with a private dining terrace, kitchenette, workspace, and lockable wine storage. These aren’t superficial additions; their scale and spatial allocation indicate serious intent for frequent resident use.

[smartcode_project:default project_id=134954 project_image_fid=4391]

Importantly, Senso’s amenities are embedded within a site that spans more than 10,000 sqm, allowing for better separation between spaces and reduced noise spillover, a critical but often overlooked factor in high-density developments. This spatial generosity also enables multiple alfresco kitchens and communal terraces without compromising individual privacy or usable space.

While many developments make claims about lifestyle, few back it with this level of built infrastructure. Senso’s mix of dedicated fitness, wellness, social and passive green spaces suggests a conscious response to the post-pandemic shift in housing expectations, especially among owner-occupiers.&nbsp;

DASCO is one of several leading developers who have taken out Resilience Insurance's Latent Defects Insurance policy, providing buyers with a 10-year structural and waterproofing warranty, and giving them the ultimate peace of mind.

Senso is scheduled for completion in late 2028.

[smartcode_project_cta:default project_id=134954]

The outdoor amenities elevating life at Senso, Epping

Following the proposal by the Minns Labor Government to rezone Parramatta Road to create up to 8,000 new homes, prominent developer Ceerose has gone to the NSW Gov to increase the density of its new mixed-use residential building in Leichhardt.

<a href="https://www.apartments.com.au/builders/ceerose">Ceerose</a>, founded by Edward Doueihi nearly three decades ago, has filed plans for 154 apartments above ground-floor retail at 307-315 Parramatta Road, a key corner site near Norton Street, the main high street strip in Leichhardt.

It's an upsize from the previously approved scheme of 63 apartments across a seven-storey building.

<img alt="Ceerose" data-entity-type="file" data-entity-uuid="ba1ae75b-5f08-43fb-b8d5-3de6d9f6ef71" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-04%20at%2010.31.39%E2%80%AFAM.png?VersionId=yA3hBBLPH4ev7MsAE0_hieXeqiFqBUb7" />

The project is being advanced through the State Significant Development (SSD) pathway, with concurrent rezoning sought to facilitate the proposal. The 10-storey development would rise over a four-level basement and deliver two retail tenancies, one a larger-format offering and the other a smaller “hole in the wall” space, addressing the Parramatta Road frontage. 21 of the apartments are dedicated as affordable housing.

According to the Urban Design Report by Architecture AND, the scheme includes a podium and tower configuration, with a fine-grain, two-storey parapet street wall that references the traditional shopfront rhythm along the corridor. “An elegant tower form is proposed, combined with a characterful two storey frontage... articulating it as two related buildings, providing consistency with the rhythm and grain of Parramatta Road,” the report notes.

The residential component is split across two slender towers set back from the street edge, a design move aimed at preserving solar access and reducing perceived bulk. This massing strategy also seeks to improve residential amenity by focusing scale toward the quieter northern interface, away from Parramatta Road’s noise and pollution.

<img alt="Ceerose" data-entity-type="file" data-entity-uuid="347f2f8f-5d36-4388-b40a-2e77380b9c19" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-04%20at%2010.31.02%E2%80%AFAM.png?VersionId=xvyUE2ujT1lzivXTo.mHBJFF4SmfgLtz" />

Architecture AND has worked with Ceerose on previous Inner West projects, and cites a deep familiarity with the local character. Their design draws heavily on context, heritage, and sunlight access considerations, and engages with the Inner West Council’s “Our Fairer Future” strategic planning framework.

The site spans 2,712 sqm and is located near key intersections with Catherine Street, Hay Street, and Redmond Street. It adjoins a public carpark to the north and is within walking distance of Stanmore and Petersham stations. It is also flagged in state and local planning strategies, including the Parramatta Road Corridor Urban Transformation Strategy, as a suitable candidate for increased density.

Ceerose recently completed The Alex Collective on McEvoy Street in Alexandria, Abbie's Lane in Annandale, and the award-winning Munro House in Elizabeth Bay.

The Parramatta Road corridor is coming to life with the proposed rezoning which is serviced by a significant number of bus, light rail and train routes.

Deicorp is progressing with its $1.8 billion <a href="https://www.apartments.com.au/new-apartments/kings-bay-village-five-dock-53-75-queens-road-five-dock-nsw-2046">Kings Bay Village</a> precinct on Parramatta Road in Five Dock, as is <a href="https://www.apartments.com.au/news/nsw/toga-to-push-on-with-five-dock-mixed-use-masterplan">TOGA further down the street</a>. Those two projects alone will bring nearly 2,000 new homes to Parramatta Road.

First look: Ceerose plots mixed-use Leichhardt development on Parramatta Road

North Sydney's landmark 'SBS Building' on Alfred Street is set to be demolished to make way for a new mixed-use residential tower in the booming North Sydney.

Commercial property group FiveX is behind the plans for a <a href="https://www.apartments.com.au/new-apartments/275-alfred-street-north-north-sydney-nsw-2060">39-storey tower</a>, the latest project to advance under the NSW Government’s Housing Delivery Authority pathway.

They are proposing 184 apartments above retail spaces, which will replace the existing 20-storey commercial building. FiveX was set up more than five decades ago by Joshua and Marko Berger. It is currently led by Joshua's son Lesli.&nbsp;

<img alt="First look: Fivex plans 39-storey residential tower at 275 Alfred Street, North Sydney" data-entity-type="file" data-entity-uuid="2efa0980-53fa-4cca-9f9e-9c3c845d4746" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29%20%281%29_0.png?VersionId=y_YyPMq3NQLfYRs84pP4os9UgWiMLp75" />

According to the Architectural Design Report by <a href="https://www.apartments.com.au/architects/fjc-studio">FJC Studio</a>, the slender tower form has been deliberately designed to respect the site's transitional setting at the southern gateway to the North Sydney CBD, where high-rise towers give way to lower-scale residential precincts.

"The slender tower form and articulated podium establish a respectful relationship with nearby heritage and low rise buildings, including the Whaling Road Heritage Conservation Area,” the architecture firm noted, adding that the tower “completes a missing link in the urban fabric” while enhancing the Alfred Street streetscape.

The proposed building will include a mix of one-, two- and three-bedroom apartments, with 15 percent of the gross residential floor area allocated as affordable housing. There is an agreement already in place that those apartments will be managed by Evolve Housing.

The project aligns with broader state housing objectives, including the National Housing Accord target of delivering 1.2 million new homes by 2029. The Scoping Report filed with the State Significant Development Application (SSDA) suggests the site "presents no impediments to rapid delivery,” with construction able to commence within 12 months of receiving consent.

North Sydney has been one of the most popular suburbs in Sydney for new and off the plan apartment development, but hasn't had the supply to keep up with demand, until recently.

AURA by Aqualand was, for a long time, the only off the plan apartment building on the market. That completed last year, and has sold the majority of its 386 luxury apartments. Recently ALAND launched <a href="https://www.apartments.com.au/new-apartments/the-walden-173-179-walker-street-north-sydney-nsw-2060">The Walden</a> on the same street, selling over $100 million within just a few hours of its launch, while developer CASA also launched&nbsp;<a href="https://www.apartments.com.au/new-apartments/the-mclaren-north-sydney-45-mclaren-street-north-sydney-nsw-2060">The McLaren</a>&nbsp;in the same precinct.

First look: Fivex plans 39-storey residential tower in booming North Sydney

Campbelltown

Prominent Sydney developer ALAND is set to transform the abandoned Brands on Sales outlet in Campbelltown into a $400 million mixed-use development.

They've further enhanced the proposal which was submitted to council earlier this year, with the project now set to feature a shared environment for the wider community.

There will be a&nbsp;community building, public open space, playground, and curated gardens, totalling over 4,000 sqm of publicly accessible. The development will also comprise residential apartments, an 'eat street', and several retail and commercial spaces across the two hectare 22-32 Queen Street site

“Campbelltown is a fantastic suburb and this new chapter will bring with it an exciting neighbourhood space for not only the new residents of our upcoming development, but for generations to enjoy in years to come” said ALAND’s Head of Development Ryan Lane.

"Until now the site has been a wasted opportunity in a great location and we’re proud to be able to repurpose the space for the wider community."

Earlier concepts of the development have been scaled back to increase the useable communal footprint, which is a direct result of conversations with Council. Lane said Council and community feedback has been critical in shaping how the project could meet both future housing demand while simultaneously improving liveability for the greater Campbelltown population.

The proposed open green space will include multiple play areas for children of all ages including interactive water, sand and nature play, climbing equipment, a native meadow and level lawns. There will also be a bicycle loop path and community amphitheatre seating with a stage area.

ALAND’s Senior Development Manager Andrew Stacey said&nbsp;such an exceptional address deserves a superior meeting place for the community.

"That’s what we’re striving to create," Stacey added.

"To get the fit just right ALAND has been in ongoing consultation with Council and the community to ensure this plan will deliver the best outcome for all.

“Our research has taught us that Campbelltown’s local businesses and residents want an authentic community hub with a true village feel and that’s what we plan to deliver."

ALAND has already submitted plans to Council for the residential and retail component on the site. The masterplan will include 558 apartments throughout five buildings and an ‘Eat Street’ style dining precinct with over 9000 sqm of commercial and retail space, including a childcare, all within walking distance of the local train station and other key Campbelltown amenities including Macarthur Square.

To ensure the local character at the rear of the site is maintained and celebrated, all mature legacy trees around the community building and public play area will be retained as well as the view corridor to the neighbouring heritage buildings.

Planned at the heart of the shared community area will be a colourful fringe lily public art piece, visible from Queen Street and illuminated at night in celebration of 200 years of Campbelltown. The DA is also proposing a two-level (ground and basement to preserve the low impact landscape) community centre, which will house an auditorium, kiosk, lift and several multi-purpose spaces. 
 
Campbelltown City Council Mayor George Greiss praised ALAND’s design and its contribution to a revitalised Campbelltown City Centre.

“It’s great to see this development application has given consideration to our city centre master plan to achieve a people-focused place that’s innovative and connected to plenty of open space," Greiss said.

“Through considered design in prime locations such as this, we can realise our vision for a good life here in Campbelltown where our communities are inclusive, diverse and friendly."

Fast Facts

<ul style="color:#222222; font-family:Arial, Helvetica, sans-serif; font-size:small; font-style:normal; font-variant-ligatures:normal; font-weight:400; text-align:start; white-space:normal; background-color:#ffffff; text-decoration-thickness:initial; text-decoration-style:initial; text-decoration-color:initial" type="disc">
	<li style="margin-left:15px">22-32 Queen Street, Campbelltown</li>
	<li style="margin-left:15px">$400M mixed use project including residential, retail and commercial spaces</li>
	<li style="margin-left:15px">Over 4000sqm open space including children’s play areas, community amphitheatre with stage and a bicycle loop path</li>
	<li style="margin-left:15px">Two-level community centre consisting of an auditorium, kiosk, lift and multi-purpose spaces</li>
	<li style="margin-left:15px">Public art piece to commemorate 200 years of Campbelltown</li>
</ul>

ALAND has already submitted plans to Council for the residential and retail component on the site

ALAND further plans for $400 million mixed-use Campbelltown development

Campbelltown will be home to an exciting new gateway district under a development application that would see a previously run down and underused site reimagined into a thriving new $400 million neighbourhood at&nbsp;22-32 Queen Street, Campbelltown.

The proposal envisions a new destination precinct over two hectares on Queen Street, comprising a mix of residential apartments and retail and commercial spaces, along with multiple, landscaped community spaces and a vibrant, tree-lined &lsquo;Eat Street&rsquo; at the heart of the project.

The plan submitted to Campbelltown City Council by Sydney developer, ALAND has been six years in the making, with Senior Development Manager for ALAND, Andrew Stacey saying the considered plans promising to reimagine the currently rundown and underused site, as a new gateway to Campbelltown&rsquo;s city centre.

<img alt="" height="750" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/eat_street_view_02_final.jpg" width="1200" /> 
Render of the proposed Eat Street on the groundplane of the Campbelltown project. Image supplied.&nbsp;

&ldquo;For several years this has been an ugly and underutilised site &ndash; but now we have an opportunity to unlock this incredible space for the entire community to create not only a residential precinct but public spaces for everyone to enjoy,&rdquo; says Stacey.

In collaboration with Sketch Design Group, the Campbelltown site will include 558 residential apartments, in addition to a range of community facilities and restaurants across five buildings, ranging in height from 12 to 15-storeys.

To preserve the context of the adjoining heritage building, Warby Barn, a large public domain is planned to compliment the historic site and provide the community with a safe and inviting space to enjoy.

The tallest buildings will be located closest to the train station to encourage pedestrian activity and patronage at local businesses.

Across the entire site, around 35 per cent is given to communal spaces, with 7000 sqm of that dedicated to an expansive open plaza on the development&rsquo;s podium level.

Landscape architect, Sturt Nobel worked to include a number of local and deciduous trees and plants in the comprehensive landscaping masterplan, which also includes the transformation of each apartment building rooftop, seeing the space turned into a lush, green space for residents to enjoy.

A variety of other resident-only amenities find their home at the ALAND development, including a shared co-working space, a gym, multipurpose function room, and health and wellness spaces.

ALAND is a dominant presence in Western Sydney, where they are dedicated to improving the city&rsquo;s satellite CBDs by delivering high-quality affordable projects including the award-winning Bottlebrush in Schofield Gardens and award finalist Costello in Edmondson Park.

Other key projects include The Hoxton at Liverpool, and the newly-launched The Gladstone Village at Merrylands.

ALAND&rsquo;s Head of Development, Ryan Lane, says Council and community feedback has been critical in shaping how the project could meet both future housing demand and improve liveability for the greater Campbelltown population.

&ldquo;This particular site is an exceptional location that demands a high-quality approach to really lift the tone of this part of Campbelltown and introduce new life and excitement for the community.&rdquo;

&ldquo;We know from our comprehensive research surveying local businesses and residents, that people want a place that feels like a real community hub with things like a local grocer, quality take-away and outdoor dining options as well as public art and open spaces with wide footpaths and seating,&rdquo; Lane said.

Earlier concepts of the development have been scaled back to increase more useable open space, which is a direct result of consultation with Council.

The precinct neighbours Campbelltown Performing Arts High School and as a high-frequency bus route, the Queen Street location is also close to Macarthur Square and Campbelltown&rsquo;s centre with the train station only a 10-minute walk away.

[smartcode_project_cta: project_id=13671]

Across the entire site, around 35 per cent is given to communal spaces, with 7000 sqm of that dedicated to an expansive open plaza on the development’s podium level.



alisonwarters@gmail.com

ALAND set to transform Campbelltown site with mixed-use precinct

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A three bedroom one bathroom house in Campbelltown, NSW has been sold following an unsuccessful March auction.
The property sold for $490,000, $9,000 below the $499,000 that was sought.
Manfred Harle of Richardson &amp; Wrench held the listing.
Situtated at <a href="https://www.realestate.com.au/sold/property-house-nsw-campbelltown-130585758" target="_blank">18 Megalong Crescent</a> the 1970 property is a one storey brick veneer house.
Set on 588, sqm it features a one car lockup garage.
Positioned withing walking distance of local school, shops and transport, it was described in the listing as "a great opportunity for first home buyers and investors".
Last sold in 2007, the property transacted for $270,000.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
The median price for a home in <a href="/developments/campbelltown-nsw-2560">Campbelltown</a> is $600,000 according to CoreLogic, which calculate its annual change in median price over the past 10 years as 8.8%. 
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Campbelltown, NSW mortgagee home sold after unsuccessful auction

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A Campbelltown home belonging to South Australian cricket legend Andrew Sincock has been listed for the first time in 30 years.
The three bedroom property at <a href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39QzG/Nyy8oj1K1KeXrM4kTa7t6vEO6Dj4NQit3Rhkkn8Qh/5PCLh2dikg9bs6gLbI0p5vQmupxjwEcV5B2G01nDuCTY7fI8auFBObtSEHkW4eVk+a12hn98HZVQP7x3V8A=&amp;rh=ff00438cc1a8907bb9b3a763574db04f4ac5258c">3 Osborne Street</a> was designed by Carlo Dotorre.
It is being offered by Ray White Semaphore Sales Consultant Samantha Hirniak.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/19/RWS-3%20Osborne%20St-105e.jpg" alt="">
Sincock was a key figure of the state cricket system as both a player and administrator.
He is the third highest wicket-taker in the Adelaide club system, a Sheffield Shield winner with South Australia in 1982 and a proud holder of the Order of Australia Medal.
Sincock won two Bradman Medals, is a former Vice President of the South Australian Cricket Association and the inaugural Chairman of the Adelaide Strikers.
“We have such wonderful memories in this house. It really has been the hub of so much fun and laughter for family and friends alike,” he said.
“I have three children as well as grandchildren and they’ve all loved taking advantage of the vast amount of space this home has. I’ve lost count of how many cricket and football matches we’ve had in the yard.
“Aside from family, the property has also hosted a number of famous sporting stars, with England cricketer Alex Hales and his father a real highlight.
“We’ve been blessed to have a home with such an exceptional open area that’s perfect for entertaining with lots of parking available for the numerous dinner parties we’ve hosted.
“There’s an external veranda and decking at the rear, and decking out the front, and we’ve been fortunate enough to enjoy the South Australian weather on those areas many times.
“There’s also a huge garage and work area so anyone wanting their own ‘man cave’ or work space will delight in how much room there is to do so.
“Unfortunately, memorable moments like taking a hat trick for South Australia against India in a tour game in Adelaide has taken its toll on the body, so it’s time for a new family to come in and begin creating similar incredible memories to the ones we’ve had.”
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/19/RWS-3%20Osborne%20St-12e.jpg" alt="">
Hirniak said the property would appeal to a wide array of potential buyers with its character, potential and location.
“This home really does offer the astute buyer a house with immense character and exciting future potential,” she said.
“It has a commanding facade and elevated street position and this impressive family home offers a wonderful amount of living space across multiple levels.
“The flexible floorplan boasts three bathrooms and three bedrooms, with the main bedroom offering a walk-in robe and a renovated ensuite.
“Entertainment is a real selling point with a formal lounge and a separate dining/family room with its own built-in bar that offers beautiful views.
“An abundance of fruit trees including fig, nectarine, apple, mandarins, olive trees and manicured gardens complete the package.
“Sited on approximately 869 square metres of land, it's located adjacent East Marden School within walking distance to the Paradise interchange, shopping centres and all the culinary delights this culturally diverse area has to offer.
“And if that wasn’t enough, the seller is one of South Australia’s true cricket legends. As a buyer, can you imagine telling family and friends you just bought the home of an Order of Australia Medal holder? This is such a rare opportunity.”
The property is scheduled to go under the hammer on site on Saturday 1 December at 10.30am.
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Former South Australian cricket legend's Campbelltown home hits the market 

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The Charter Hall Group has teamed up with leading super fund MTAA Super to acquire Campbelltown Mall for $197 million, in the largest individual sub-regional shopping centre transaction in 2016.
Charter Hall bought the mall from Perron Group, with JLL’s Simon Rooney negotiating the deal. The transaction reflects a market capitalisation rate of 6%, said a media release.
Campbelltown Mall is located in one of Sydney’s largest south western suburban business districts and comprises an established, performing convenience-based shopping centre. 
The mall comprises Coles, Woolworths, Kmart, Target and Aldi together with 10 mini majors and 84 specialty tenancies, with a 98% occupancy and 4.7 year weighted average lease expiry. It’s gross lettable area is more than 42,200 sqm and sits on a 7.2 hectare site.
Rooney, JLL’s head of Retail Investments – Australasia, said, “We continue to see a depth of institutional investor interest in strong performing sub-regional shopping centres, especially for assets in growth corridors, with opportunities for value add.”
Charter Hall has set up a fund called Charter Hall Prime Retail Fund (CPRF) to manage the asset along with MTAA. Charter Hall said it will co-invest $46 million for the acquisition.
Charter Hall’s retail head Greg Chubb said,” The property is the seed asset for CPRF, which will focus on acquiring and actively managing larger convenience-based retail centres with strong growth potential.”
The deal is due to close in October 2016.
Rooney added that Campbelltown Mall was the largest individual sub-regional shopping centre sold this year following divestments by Vicinity Centres.
The largest sub-regional transactions for 2016 to date, include Vicinity Centres sales of:
• Four sub-regional centres to Blackstone and Mirvac (AUD 841.4 million) in June
• A 50 percent interest in Runaway Bay to Perron Group (AUD 160 million) in June; and
• A 50 percent interest in Tuggeranong Hyperdome to TTCT Investments (AUD 120 million) in September.
“The sub-regional sector has continued its record level of activity, with $1.7 billion in transactions in 2016 year-to-date, building on the $2.8 billion in 2015 – which was a record high for the Australian market,” said Rooney.
 
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jonathanchancellor-7SQnKwU6yx

Charter Hall acquires Campbelltown Mall for $197 million

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A three-tower residential development with key workers such as police, nurses, fire brigade personnel in mind is coming up in Sydney’s Campbelltown.
The 101-apartment project, The Gardens, is being touted as Australia’s largest multi-storey prefabricated timber construction project and also the “largest affordable housing project without any government funding”, according to a media release. 
Building contractor Strongbuild is using Cross Laminated Timber (CLT) instead of traditional concrete and steel for construction. The prefabricated building technologies is expected to reduce the construction time by around off four months and result in cost savings, the release said.
Strongbuild managing director Adam Strong said  CLT has similar characteristics to concrete and steel yet 30 percent lighter. It also offers better thermal performance and requires less energy to heat and cool. 
“CLT is engineered and processed in a factory to be precise, making it fast and efficient to construct,” said Adam.
Construction of the first tower is over and work on the second commenced this week. 
The project includes three residential towers that are being developed by Tier 1 affordable housing provider BlueCHP Limited. The first tower will be sold to private investors or owner-occupiers, while the other two will be earmarked for Key Workers – police, nurses, fire brigade personnel - in Campbelltown. 
Rents will be capped for Key Workers at 30 percent of their wage. 
The regional city’s population is forecast to grow more than 36 percent from its current 158, 394 people in the next two decades.
Warren McGregor, CEO of the national association for off-site construction industry, prefabAUS, says saving four months would mean the client will be operational earlier. 
“It’s a huge advantage having a building project delivered faster, particularly for affordable housing clients like BlueCHP and for projects such as hospitals and schools.”
Housing affordability will be one of the topics discussed at the upcoming national prefabAUS Conference, Delivering Next Generation Buildings, on October 10 to 12 at the University of Sydney. 
Speakers will include Adam Strong, author Paolo Lavisci who has written a book on the design of timber structures, and Harvard alumnus Marc Norman.
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