National developer Time &amp; Place appears to have settled on a design for its long-anticipated Potts Point project.

After several years of back and forth with local council and the NSW Government, the developer, which has spent close to a decade targeting the former The Chimes site on Macleay Street, has now progressed its plans.

Following a concept design submission last year by SJB, Time &amp; Place has lodged a full State Significant Development Application with the NSW Government, this time for a scheme designed by Kerry Hill Architects.

<img alt="Time &amp; Place" data-entity-type="file" data-entity-uuid="504d2a27-d65f-4227-8189-1e35e3376e62" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-20%20at%209.38.24%E2%80%AFAM.png?VersionId=_XqFKATYHF30KnVByPxhaI9UBzmkmfn7" />

The 16-storey proposal includes 44 apartments, 21 of which will be build-to-sell. These will comprise 19 three-bedroom apartments and two four-bedroom penthouses.

More than 50 per cent of the development will be dedicated to affordable housing, with 23 one- and two-bedroom apartments delivered in line with the NSW Government’s Housing SEPP.

Kerry Hill Architects said the proposal is driven by a strong response to place.

“Our proposal for a new residential building for Potts Point in Sydney is driven by a deep consideration of place,” the practice said in its submission.

“This operates on multiple levels, including a landscape approach that reinstates endemic flora of the Sydney peninsula and provides a ground-floor garden for residents, reconnecting the site to its pre-European history. A brick podium further strengthens this relationship to context, integrating planting and fine bronze detailing that references the predominant material language of Macleay Street.”

The three-level podium will be topped by a communal resident space, featuring a covered pool designed to receive direct afternoon sun in winter, a neighbouring reflection pool, dining and event areas oriented to maximise sunset views, and an outdoor exercise zone.

<img alt="Time &amp; Place" data-entity-type="file" data-entity-uuid="8d3eedc1-babb-44a3-bd96-d8a42f3adf1f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-20%20at%209.37.48%E2%80%AFAM.png?VersionId=Ii7.4dvqNatu5GQi6bhqNjAswrMB998." />

The design also incorporates highly crafted shopfronts and a clearly defined residential entry to activate the street. Juliette balconies to the podium residences will provide passive surveillance and a strong sense of habitation.

Above, the larger apartments are housed within a light-coloured masonry and bronze tower.

“The tower steps back in a series of gently curved volumes that reference the rich Art Deco context of Macleay Street,” the architects said. “Carefully calibrated vertical fins frame the views while providing privacy and a sense of refuge.”

<img alt="Time &amp; Place" data-entity-type="file" data-entity-uuid="6fab60f4-3140-4469-b47a-48c781e0a30b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-20%20at%209.28.44%E2%80%AFAM.png?VersionId=e5XxrM3kzdASdKlcIACHAHbOSZhSKC9O" />

Time &amp; Place has been one of the most active developers nationally in the last 12 to 24 months. Late last year they completed&nbsp;The Queensbridge in&nbsp;<a href="https://www.apartments.com.au/developments/southbank-vic-3006">Southbank</a>, a mixed-use tower with 353 apartments and a hotel. They are currently selling Park Modern, 246 apartments near the famous Botanic Gardens in South Melbourne.

The developer has approval for The Burke, a mixed-use project in&nbsp;<a href="https://www.apartments.com.au/new-apartments/glen-iris-vic-3146">Glen Iris</a>&nbsp;being delivered in partnership with Woolworths. The 60 apartments, positioned above a new Woolworths supermarket, are expected to launch in the coming months. Time &amp; Place is also progressing plans for the redevelopment of&nbsp;<a href="https://www.apartments.com.au/developments/northcote-vic-3070">Northcote</a>&nbsp;Plaza, and have recently submitted plans for a <a href="https://www.apartments.com.au/news/vic/time-place-unveils-plans-22-storey-south-melbourne-tower">22-storey tower</a>, another in South Melbourne.

In&nbsp;<a href="https://www.apartments.com.au/developments/sydney-nsw">Sydney</a>, the developer has two projects in Manly: Two Tides, which is currently under construction, and an ultra high-end building on&nbsp;<a href="https://www.apartments.com.au/buildings/shoreline-manly-beach-89-90-north-steyne-manly">North Steyne</a>, fronting the beach. It is also continuing to work through the redevelopment of The Chimes building on Macleay Street in&nbsp;<a href="https://www.apartments.com.au/developments/potts-point-nsw-2011">Potts Point</a>, as well as Marlborough House, the redevelopment of the original David Jones warehouse building in&nbsp;<a href="https://www.apartments.com.au/developments/surry-hills-nsw-2010">Surry Hills</a>.

Joel Robinson

First look: Time & Place settles on design for The Chimes, Potts Point redevelopment

<a href="https://www.apartments.com.au/developers/develotek">Develotek</a> is joining the likes of TOGA, Deicorp, and One Global Capital, betting on a boom in Five Dock ahead of the 2032 mooted opening of the Five Dock Metro Station.

Develotek, which is currently developing Bianca on the Drummoyne waterfront and has plans approved for a tower in Chatswood, has filed a State Significant Development Application for a <a href="https://www.apartments.com.au/new-apartments/79-81-queens-road-five-dock-nsw-2046">two-building project in the evolving Kings Bay precinct</a>.

The buildings, one more boutique just five storeys and the other 26 storeys, will rise from an 3,158 sqm site across&nbsp;79–81 Queens Road and 2–8 Spencer Street, will home 134 one-, two-, and three-bedroom apartments, above ground-floor retail and five basement levels of parking.

A key component of the proposal is the inclusion of 15 per cent of residential floor space as in-fill affordable housing, unlocking additional height and density under the Housing SEPP.

<img alt="First Look: Develotek lodges State Significant shop top housing project in Five Dock precinct" data-entity-type="file" data-entity-uuid="3ee31bf7-75ba-4bc5-b190-49885193219f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium_2.png?VersionId=730UbrduuwK3C1sO28RHjiLPUPqXqjkh" />

Designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a>, the scheme adopts a podium-and-tower configuration, with a five-storey street wall along Queens Road transitioning to a 26-storey tower set deeper into the site. The ground plane prioritises activation and permeability, with retail frontages and a new through-site link connecting Queens Road to Spencer Street.

At the upper levels, the tower façade has been conceived using a modular system to support prefabrication and reduce construction waste, while improving build efficiency. The splayed form draws on the geometry of surrounding industrial rooftops, reinterpreting the area’s heritage in a contemporary expression while also helping to reduce solar heat gain to east and west-facing apartments.

“This project aspires to transform a former industrial site into a connected, resilient and people-focused urban community, grounded in Country, shaped by history, and designed to enrich everyday life within the evolving Kings Bay Precinct,” said John Walsh, Principal at Plus Studio.

The proposal reflects the broader transformation of the Kings Bay Precinct under the Parramatta Road Corridor Urban Transformation Strategy, marking a shift from its industrial past to a higher-density, mixed-use urban neighbourhood.

<img alt="First Look: Develotek lodges State Significant shop top housing project in Five Dock precinct" data-entity-type="file" data-entity-uuid="abde734c-1e31-4a97-a1d2-fa9bcf31c380" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/building%20podium.png?VersionId=fNUupP6u146yEytQT31kKVRxwtACgPpP" />

Develotek is emerging as an active participant in the state’s affordable housing-led uplift pathway. The developer recently secured approval for a 34-storey mixed-use tower in Chatswood, where it similarly leveraged the in-fill affordable housing provisions to increase scale and deliver a 101-unit scheme with dedicated affordable apartments.

Their entry into Five Dock places them alongside a growing list of developers targeting the suburb ahead of its anticipated transport uplift, with Sydney Metro set to extend into the area. Major players including TOGA, Deicorp, and One Global Capital are all progressing large-scale precinct-style developments nearby, collectively reshaping the low-rise industrial fabric into a higher-density mixed-use corridor.

The Five Dock site sits within the Kings Bay Precinct, a key renewal area under the Parramatta Road Corridor Urban Transformation Strategy, where planning controls support significant uplift tied to affordable housing delivery. The consolidated 3,158 sqm site is currently occupied by low-rise industrial uses, including warehouses and vehicle workshops, earmarked for transition.

First Look: Develotek joins in Five Dock apartment boom

Ascot’s Racecourse Road continues to be a hive of activity for Brisbane developers.

Following Fortis and GRAYA, which are both preparing new projects along the key strip connecting Kingsford Smith Drive and Eagle Farm Racecourse, local developer <a href="https://www.apartments.com.au/developers/skyhold">Skyhold</a> is the latest to lodge plans for its own development.

The group is proposing One One Two Residences, a boutique project comprising just seven apartments, named after its address at 112 Racecourse Road.

The proposal outlines a five-storey building on an 810 sqm site. The built form slightly exceeds the four-storey expectation under the neighbourhood plan, aligning instead with the emerging character of the strip. As the planning report notes, “the locality is characterised by a transition toward medium-rise residential development, with a number of recent developments… above the stipulated height limits.”

<img alt="First Look: Skyhold lodges plans for boutique Ascot apartments as Racecourse Road revival gathers pace" data-entity-type="file" data-entity-uuid="ec577631-8c51-4163-960e-e7b3a77d655b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Ascot.png?VersionId=iAzQ46D4Uu1UqiS0mVnlcy9jeFKBpJIj" />

Designed by 111 with landscape architecture by <a href="https://www.apartments.com.au/landscape-architect/paul-bangay-garden-design">Paul Bangay Studio</a>, the scheme adopts a layered architectural approach with strong articulation and a subtropical response. Deep balconies, integrated planters, and a mix of masonry and textured finishes define the façade, while upper-level setbacks reduce perceived bulk. The architectural statement describes “a series of horizontally expressed layers, defined by deep balconies and a consistent robust material palette,” aimed at delivering a refined streetscape presence.

Apartments are configured as large-format residences, including multiple three-bedroom layouts and a full-floor penthouse, supported by ground-level parking. A rooftop terrace will provide communal amenities including a pool and landscaped recreation areas. The design prioritises privacy, natural ventilation, and greenery, with planting integrated across all levels to soften the building form and contribute to the public realm.

<img alt="First Look: Skyhold lodges plans for boutique Ascot apartments as Racecourse Road revival gathers pace" data-entity-type="file" data-entity-uuid="1e1219bd-b45a-4d7f-bbc7-7207d7b2fc94" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Ascot%20entry.png?VersionId=JIoUOLMgQ5xWpEF0etEI3ffIoIVjD7gO" />

The proposal sits within the Racecourse Road precinct, a key mixed-use spine in Ascot that continues to attract renewed development interest.

Later this year national developer Fortis will launch its own boutique development, which, pending council approvals, will be 16 apartments designed by Koichi Takada Architects, just down the street.

“Racecourse Road is going through a massive revitalisation and we’re proud to be a part of that transformation,” said Fortis's QLD General Manager, Dan Boman.

Nearby, GRAYA is advancing its larger-scale The Gallery, a mixed-use shop-top housing project designed to act as a “catalytic project for Racecourse Road.”

First Look: Racecourse Road, Hamilton revitalization to continue as Skyhold joins the party

Twenty-five years after launching one of Australia’s most visionary and successful masterplanned beach communities - Casuarina on the Northern NSW Tweed Coast - developer Consolidated Properties Group has unveiled plans for an $800 million sister project located 10 kilometres south, at Cudgera Creek near the coastal town of Pottsville.

CPG has taken the wraps off Caldera, a 78-hectare masterplanned village that builds on the legacy of Casuarina and aims to help address Northern NSW’s coastal housing shortage via the delivery of 550 homes built in a sustainable manner and addressing affordability and housing diversity, while also focusing on architectural and ecological merit.

Caldera is being brought to life by the same creative team that delivered Casuarina, led by Consolidated Properties CEO and chairman Don O’Rorke, Hutchinson Builders chairman Scott Hutchinson and renowned urban designer Brian Toyota, of architectural practice Bureau Proberts.

CPG has lodged a rezoning application with Tweed Shire Council for the Caldera site, which has been designated since 1991 as the Dunloe Park Urban Release Area, the final land release area within the Pottsville locality and one of only four remaining growth areas along the entire Tweed coastal strip. Preliminary plans for Caldera feature a 13-hectare retail and commercial precinct at the core of the village, surrounded by meticulously planned residential areas comprising around 550 homesites.

The retail hub will be anchored by a Coles Supermarket and will offer 7000 sqm of retail and 23 commercial lots designed to serve the local community and bring together curated shopping, dining, gym, wellness, childcare, medical and other essential services.

<img alt="Cons prop" data-entity-type="file" data-entity-uuid="fca7dc71-4b71-45b1-bb04-5a60bd7158d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-20%20at%208.34.04%E2%80%AFAM.png?VersionId=vAKwIvLuwmTKj6blHJRYIEeXS_8lCgUx" />

The project will create more than 1500 jobs over its development cycle, according to its economic modelling, and significantly address the shortage of employment land in the Tweed.

The residential areas will encourage a sense of community via a cohesive urban design that encourages walking, cycling, enhanced resident connectivity and reduced reliance on cars via bike paths and pedestrian-friendly streets.

Homesites will include a range of options from premium ridge-top homes to affordable housing options, ensuring a community that is inclusive of different income levels and designed to appeal to a wide demographic from baby boomers to families, singles and professionals. Architectural and planting covenants on home building will support the village’s built form and protect its character.

O’Rorke says CPG intends Caldera to be a model project delivered efficiently in a dedicated urban release area and ‘very much for this region and for this time’.

“Our vision for Caldera is to create a modern coastal village with its own unique northern NSW identity,” he said.

“Building on our legacy of Casuarina, 25 years on, this new village is designed to stand apart, offering the future of modern living, balancing the natural beauty of the region with contemporary amenities and convenience.

“Caldera will be more than just a place to live - it will be a welcoming, inclusive coastal village neighbouring Pottsville that invites visitors and embraces new residents. With its strong ties to the land, vibrant lifestyle and sense of place, Caldera will set a new standard for village living in Northern NSW.”

<img alt="CPG" data-entity-type="file" data-entity-uuid="9a5a7cf4-5f76-4ddf-bd05-c8fb77d0a787" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-20%20at%208.33.59%E2%80%AFAM.png?VersionId=J1CzCGD7kE7fcAMd41V4pKAf_sI4L5Jv" />

The project’s centrepiece is environmental sustainability, with comprehensive wetlands protection measures and planting of native trees, parklands, village greens and communal grounds to enhance the natural beauty of the area.

CPG will also deliver a developer-funded wastewater treatment plant to ensure zero ocean outflows and provide high quality long-term infrastructure for Tweed Shire.

A key focus is wildlife management planning, including extensive conservation controls for the West Pottsville koala population, aligned with Tweed Shire Council’s Koala Plan of Management and designed to enhance koala habitat connectivity and future population growth.

Caldera will extend the existing koala corridor by connecting koala precincts west of the Pacific Highway with populations in the north and east precincts. A koala underpass will be created under Pottsville Road to complete the connection of this important corridor. Native tree plantings will expand essential koala food sources, while approximately eight kilometres of exclusion fencing will be constructed to safeguard the koalas from urban threats.

The Caldera site is nestled in the hills of Cudgera Creek and benefits from its rich natural surroundings including the Pottsville Wetland, Cudgera Creek Nature Reserve and nearby Pottsville Beach.

It takes its name from the surrounding Tweed Shield Volcano and Caldera, the vast bowl-shaped depression stretching from Byron Bay to the Queensland border that 20 million years ago was the world’s largest shield volcano and which has shaped the region’s striking landscape, with Mount Warning standing as one of its most iconic features.

The development is a joint venture between CPG and Pottsville Development Corporation, which made its first investment in Pottsville more than 45 years ago and is the developer of Black Rocks By the Sea, a masterplanned community now part of the fabric of Pottsville and which was the catalyst for the construction of a bridge across the Pottsville Estuary, providing direct access to the beach.

CPG’s $1.5 billion Casuarina Beach township, 10 kilometres to the north of Caldera, commenced construction in 2000 and has become the model for modern Australian, eco-sensitive beachside development.

Consolidated Properties unveils $800m coastal village Caldera in Casuarina

Growing national developer Time &amp; Place has announced its fifth new apartment development.

With two projects in Manly and two upcoming in Surry Hills and Potts Point, the developer, which expanded beyond Melbourne just a few years ago, is now heading to Mosman. It is planning 53 new apartments on Redan Street.

The 3,233 sqm site, spanning <a href="https://www.apartments.com.au/new-apartments/40-48-redan-street-mosman-nsw-2088">40–48 Redan Street</a> with frontage to Redan Lane, is located just under 400 metres from Spit Junction Town Centre. It is reported the developer paid around $100 million for the five-site amalgamation.

Time &amp; Place, founded by Tim Price and backed by James Packer’s private investment firm NPACT, has submitted the project as a State Significant Development through the NSW Government’s Housing Delivery Authority pathway.

Of the 53 apartments, 42 will be released to the market, with the remaining 11 allocated as affordable housing in line with NSW Government requirements.

fjc Studio has designed the building. In its Design Report, the architect said the diverse mix of dwelling types and sizes, including 11 two-bedroom affordable housing units, 40 three-bedroom apartments, and two four-bedroom residences, will support a broad demographic, including families, downsizers, and key workers.

The development will rise to nine levels, a height encouraged by the NSW Government due to the site’s proximity to Spit Junction, which has been identified as a low- to mid-rise centre. Developments within a certain proximity to these centres are permitted increased height.

fjc said the project “achieves an appropriate density outcome for its setting by balancing increased housing supply with strong amenity performance,” adding that it “makes a measurable contribution to NSW housing supply targets through the delivery of additional dwellings and dedicated affordable housing.”

The new development will replace five existing two-storey homes.

“By aligning with the objectives of the Housing SEPP and applying careful architectural and urban design principles, the development provides high-quality residential accommodation that integrates sensitively within its established Mosman context and delivers enduring benefits to residents and the wider community.”

Mosman has become increasingly popular with developers in recent years.

Developer Abadeen has been particularly active, with Mosman Residences currently on the market and under construction on Clifford Street. It also has an upcoming Burran Avenue project, comprising just three apartments on the Balmoral Slopes, and recently secured the Midas and Honeysuckle nursery site on Military Road.

Prosker Property has a project on Redan Lane, just a few doors down from Time &amp; Place’s proposed development.

Developers including Toohey Miller, DARE Property Group, and WINIM also have projects underway in the area. In 2024, a five-year target was set for the Mosman LGA to increase housing supply by 500 dwellings by 2029.

Time &amp; Place entered the Sydney market with Two Tides, its under construction Manly development. Given its sales success, it has secured another development in the area, more boutique, facing the beach on North Steyne.

They are hoping to launch their redevelopment of The Chimes in Potts Point this year, and next year will look to take to market Marlborough House, an adaptive re-use of the landmark David Jones warehouse in Surry Hills.

Time & Place to take on Mosman apartment market

Central Park

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Three final retail properties in Sydney CBD's Central Park has been sold for $174.5 million at a 5.5 percent yield. 
Frasers Property Australia and Sekisui House Australia, the joint venture partners behind the award-winning $2 billion Central Park, have sold the assets to a consortium comprising Fortius Funds Management and SC Capital Partners Group on behalf of its RECAP V Fund.
Central Park Retail comprises three freehold retail assets – Central Park Mall, DUO Retail and Park Lane Retail – with a total combined GLA of 14,600 sqm.
Central Park Mall, the largest of the three assets, opened in late 2013.
It is anchored by a high performing Woolworths supermarket and state-of-the-art Palace Central cinema complex.
 It houses a diverse mix of entertainment, fashion and experiential retailers, complemented by an alfresco dining precinct.
The Central Park development transformed a former brewery site into a mixed-use precinct with retail, commercial, hotel, education, student accommodation and residential uses. 
 
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Central Park Retail was located in a trade area undergoing rapid gentrification and redevelopment, with retail expenditure projected to increase by 4.2 per cent per annum, Sam Sproats, at Fortius Funds Management said.
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The Central Park precinct's customer traffic and sales have grown 33 per cent and 56 per cent respectively since 2014.
The assets were sold in one line by Lachlan MacGillivray at Colliers International.
 
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Sydney Central Park retail property sold for $174.5 million

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Frasers Property Australia and Sekisui House, the joint developers behind the $2 billion Central Park development in Sydney’s CBD, have secured Jaycar Electronics to a flagship tenancy at Central Park Mall.
The electronic giant has unveiled a collaborative experiential retail concept that encourages people to “Think Possible”.
The new store sells over 7,000 active product lines as well as integrating an equipment for hire service, interactive display areas and collaborative workspaces.
It’s centred around a “Maker Hub” – a dedicated space where customers participate in workshops, challenges, attend events and use specialised equipment such as 3D printers to work on their own projects.
Felicity Armstrong, General Manager – Assets, Frasers Property Australia says the new Jaycar store is an ideal fit with the experiential and entertainment identity of Central Park Mall.
Located on level one of Central Park Mall, the new Jaycar store spans over 420 square metres and is a larger format than most of its other stores.
Jarrod Carroll, Chief Marketing Officer, Jaycar says the new concept pushes the boundaries of experiential retailing.
“Our new Maker Hub space will allow customers to have hands-on experience with many of our products,” Carroll said.
“It’s all about inspiring people through the endless possibilities of technology.
“We didn’t want to be in a mainstream styled shopping mall but wanted a centre that better reflects our brand personality.
“After investigating the options in the area we liked the concept, design and tenancy mix at Central Park Mall best, including its artistic and creative precinct.
“We also loved the proximity to the universities and TAFE and the inner city too – with easy access via transport.”
The new lease continues the strong partnership between Frasers Property and Jaycar.
Earlier this year the two agreed a deal that will see Frasers Property deliver a new 21,595 square metre state-of-the-art automated warehouse and distribution centre for Jaycar at its Eastern Creek Business Park in Sydney.
Central Park Mall is anchored by a Woolworths supermarket and Palace Cinema complex, and houses a diverse mix of entertainment, fashion and experiential retailers, all complemented by a world class alfresco dining precinct.
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Jaycar chooses Central Park Mall for new concept store

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The final three retail assets in Central Park Retail, in Sydney CBD's downtown precinct are being offered for sale in one line.
Central Park Retail is Frasers Property Australia and Sekisui House’s award-winning $2 billion mixed-use Central Park development. 
With the flagship 12-year project now nearing completion, the joint venture is divesting the remaining three retail assets – Central Park Mall, DUO Retail and Park Lane Retail – in one line.This transaction is the final component of the partnership’s divestment strategy.
Internationally recognised for the vertical gardens and heliostat, it was transformed from a former brewery site into a mixed-use precinct with retail, commercial, hotel, education, student accommodation and residential uses.
“Central Park has redefined urban living in Sydney and Central Park Mall is the natural heart of this community. The precinct has won multiple awards in design and liveability and we are searching for the right buyer to keep the retail offer evolving,” says Mick Caddey, Development Director, Frasers Property Australia.
“These retail assets serve a large and growing catchment from a highly prominent and easily accessible location; surrounded by universities and education precincts with over 115,000 students within walking distance of the centre."
“Neighbouring Central Station is less than a 500 metre walk and is Australia’s largest and most frequented railway station. Central Station is currently undergoing a $955 million upgrade, with an estimated 270,000 commuters passing through the station daily,” says Mr Caddey.
Colliers International’s Head of Retail Investment Services, Lachlan MacGillivray, has been appointed to sell the CBD retail assets via an International Expressions of Interest campaign commencing in early May.
The Central Park Retail offer comprises Central Park Mall, DUO Retail (eight retail outlets) and Park Lane Retail (six retail outlets) in one line.
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Central Park Mall opened in late 2013. 
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Its comprised of 14,600 sqm of gross lettable area set across five levels.
“The Central Park precinct continues to go from strength to strength and customers are voting with their feet and wallets with customer traffic and sales having grown 33 percent and 56 percent respectively since 2014,” says Mr MacGillivray.
This transaction represents the first significant opportunity since 2013 to acquire a 100 percent interest, with management, in a high calibre retail centre in Sydney’s CBD.
Recent sales of Sydney CBD retail assets highlight strong investor demand for a tightly held asset class, with a 25 percent interest in MidCity Centre transacting at a yield of approximately 4.0 percent and Pitt Street’s Soul Pattinson Building sold for $95 million at 4.0 percent. 
Central Park Retail is expected to transact in excess of $170 million.
Mr MacGillivray anticipates Central Park Retail will receive keen interest from domestic and international, private and institutional purchasers, given its quality and profile.
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Final three Central Park Retail assets hit the market

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DUO, the penultimate development at the $2 billion masterplanned Central Park precinct, has seen new retailers open their doors.
Adventure retailer Kathmandu join Starbucks, Best Bite Convenience and donut shop Cross Lane have opened up on the Broadway retail and restaurant streetscape.
The new DUO retailers will be joined in coming weeks by Fika, a new concept from the team behind innovative café florist Cuppa Flower, as well as new eateries Fire and Coal and Talay’sThai, to add futher spice to the dining mix.
In all, DUO features nine ground floor tenancies with extensive frontage to Broadway.
Kathmandu’s major new store covers a dual tenancy.
One tenancy remains available for lease.
DUO completes the Broadway frontage at Central Park where Woolworths supermarket comes with amenities like Palace Central cinemas.
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A final opportunity for retailers to set up shop at Central Park was recently released in the Wonderland building, with four boutique tenancies ranging between 57 square metres and 193 square metres suitable for casual dining, restaurant, bar, food and beverage, and service uses.
Wonderland is well-connected between Regent Street, Broadway and Kensington Street.
When complete, Central Park will include 2,200 apartments, 869 student dwellings, three hotels and approximately 25,000 square metres of hospitality space.
About 5,300 people will call Central Park home and around 1,750 people will work there.
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New shops open their doors at DUO, Central Park

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Frasers Property Australia, Sekisui House Australia and Impact Investment Group have secured the University of Technology Sydney (UTS) as a new commercial tenant at Central Park, Sydney.
UTS will occupy the commercial space in One Hundred Broadway, on the corner of Abercrombie Street and Broadway in the $2 billion Central Park master planned community in Chippendale.
UTS’s Graduate School of Health (GSH) intends to relocate to One Hundred Broadway, from where it will provide postgraduate courses in the disciplines of pharmacy, clinical psychology, orthoptics and physiotherapy, along with new programs such as genetic counselling, Indigenous health and speech pathology, as they are developed.
The School also plans to operate a multidisciplinary primary health care clinic at Central Park that supports its teaching and research in these disciplines but which will also be of benefit to the community.
UTS will lease the entire commercial space of approximately 5,500 square metres over a 15-year term with two ten-year options. The commercial space, known as One Hundred Broadway, spans six levels.
Central Park’s Project Director, Mick Caddey, said the UTS Graduate School of Health was an excellent tenant for the commercial space at One Hundred Broadway.
The Graduate School of Health has about 500 senior, postgraduate students.
Up to 300 students will attend the Central Park premises during semester in addition to 80 full-time researchers and clinical staff, along with patients and clinical research participants.
UTS Deputy Vice-Chancellor (Resources), Patrick Woods, said a number of compelling factors including it being ideally located in relation to its growing city campus.
Postgraduate students, researchers and staff in turn will benefit from proximity to the amenities at Central Park, including the five-level Central Park Mall, which features over 50 specialty retailers, a Palace Cinema (opened late 2017) and Woolworths, two childcare centres, the Kensington Street dining and lifestyle precinct, and the precinct’s public park, Chippendale Green.
Currently under construction, the DUO development, which includes One Hundred Broadway, is due for completion in late 2018. The Graduate School of Health expects to begin operating there in mid- 2019.
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UTS sign Central Park, Chippendale tenancy 

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Leading Australian impact fund manager, Impact Investment Group, (IIG) has entered the Sydney property market, securing options to buy into Central Park.
IIG, the Liberman family backed entity, has entered into put and call options with joint venture developers Frasers Property Australia and Sekisui House Australia to acquire two of the final properties to be built in the Central Park precinct for $190 million.
The site is partially developed.
On its mid-2018 completion, IIG will acquire the six-level, 5,413sqm ‘100  Broadway’ commercial office property and the 297-room luxury hotel ‘Four Points by Sheraton Sydney, Central Park’.
IIG has established separate investment syndicates for each property.
100 Broadway and the hotel form part of DUO – a mixed use development comprising two towers of residential, hotel, retail, childcare and commercial spaces, designed by the leading global architecture firm, Foster + Partners and local collaborating architect Architectus.
IIG CEO, Chris Lock, said he "couldn’t be more proud" of our first foray into the Sydney market with these properties.
"We were waiting to find a building designed to the highest standards in sustainability."
100 Broadway will integrate with Central Park’s highly efficient systems for power, heating, cooling and recycling water.
The properties will draw power from Central Park’s two-megawatt trigeneration plant, which is expected to reduce CO2-e emissions by 190,000 tonnes over its 25-year expected life.
The DUO towers sit on the north-west corner of the Central Park precinct in Chippendale, facing Broadway and are five minutes’ walk to Sydney’s central train station and bus interchange.
The towers are being built above and around the heritage-listed Australian Hotel, built in 1936 and bought last year by hotelier Bruce Solomon and high-profile chef Matt Moran.
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Impact Investment Group set for office/hotel Central Park, Sydney stake

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Palace Cinemas has announced it will open a multi-screen complex on the fringe of the Sydney CBD.
The cinemas will be at Central Park on Broadway.
Palace Central will be Palace’s fifth cinema in NSW. It also recently announced a new Double Bay location.
“The most impressive thing about the Central Park location is that it’s so accessible to the people of Sydney; it’s become a major thoroughfare and a new community that we’re delighted to be a part off,” says Benjamin Zeccola, CEO of Palace Cinemas.
The 14-screen complex, which will be located on level three of the centre.
The cinema will be the new home of the Italian Film Festival and the Latino Film Festival.
Designed with a bar, the complex is scheduled to open in late 2017.
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Palace Cinemas to open on Broadway

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Childcare operator Greenwood Early Education Centres is set to open 180 childcare spaces across two centres in Central Park's urban village in Sydney's Chippendale.
The first centre will be located within the DUO towers located on Broadway, the second centre will be located within Wonderland an O’Connor and Wellington Streets, and is scheduled to open in late 2018. 
Both will have the capacity for 90 children.
Frasers Property will oversee the design and fit out the two childcare centres with SJB Architecture. Development Applications are to be lodged for the two centres later this year.
Mick Caddy, Central Park’s project director said the addition of two major childcare centres will see the delivery of a significant masterplan commitment for the precinct, providing significant amenity for residents, commercial tenants and locals alike.
“Frasers Property and Sekisui House are delighted to be delivering two new Greenwood Early Education Centres at Central Park which will be a welcomed new amenity to residents as well the wider inner-city community.
“Providing 180 childcare spaces across two centres, Central Park will be host to one of the city’s most significant childcare hubs within the Sydney CBD.
“Families living in and around Central Park or parents working in Chippendale will have the convenience of being able to place their children in childcare within the locality in which they live – meeting the demands of busy, professional parents.”
Sam Benjamin, managing director of Greenwood Early Education Centres said Greenwood recognises the importance of language development and physical activity for young children.
"As such, their centres incorporate extra-curricular activities including yoga, gardening, music, sport, art, well-being and pre-kinder programs featuring numeracy and literary concepts."
For more information click <a href="https://www.centralparksydney.com" target="_blank">here</a>.
 
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Greenwood Childcare to open two new centres at Central Park

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Construction has begun on DUO, the joint venture of Frasers Property Australia and Sekisui House Australia.
The joint venture has appointed construction company, Brookfield Multiplex, to deliver DUO under a $290 million construction contract.
DUO is scheduled for completion in early 2018.
More than half of the 5.8 hectare Central Park precinct has already been delivered.
The start of construction of DUO’s two towers on Broadway kicks off the fifth stage in the construction program of this $2 billion master-planned community in Chippendale.
The pair of buildings will be located on the corner of Broadway and Abercrombie Streets at the award-winning Central Park development in Chippendale.
Designed by one the world’s most awarded architecture practices, Foster + Partners, DUO will be Foster + Partners’ second residential building in Australia.
For more information, <a href="https://www.centralparksydney.com/live/duo" target="_blank">click here</a>.
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Duo construction begins at Central Park, Chippendale

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Frasers Property Australia has been given the green light by the NSW Department of Planning &amp; Environment to develop the final residential stage of Central Park.
The project includes a 292 apartment mid-rise building in the $2 billion Central Park precinct in Sydney's Chippendale.
Frasers Property Australia is developing block 11, a long sinuous building, stretching along the length of Wellington Street.
A design competition was organised for the building under the 2009 concept plan approval for Central Park and Francis-Jones Morehen-Thorp (fjmt) was selected in October 2013, chosen by a panel that included Lucy Turnbull, then a member of the Sydney Metropolitan Development Authority and Chris Johnson, chief executive of Urban Taskforce.
The final piece in Central Park’s residential offering, Block 11 will complete the delivery of over 2,200 apartments across the 5.8 hectare Central Park precinct which has won several awards for urban planning and revitalisation.
The development incorporates a building, ranging from 8 - 13 storeys in height, which curves in the centre to make space for two new public gardens. It will include a mix of one-bedroom suites, two and three-bedroom apartments and a range of two-bedroom dual-key apartments (planned to be launched in late 2016). The design will also incorporate a small amount of mixed-use ground floor retail as well as a childcare centre with capacity for 90 children.
Central Park project director Mick Caddey said the project delivery team is pleased to receive DA approval for this final residential stage of Central Park.
“At its completion, scheduled for 2018, Central Park will have involved a complex nine-year program of design, planning and construction and we are now approaching the last stages of this multi-staged precinct,” Caddey said.
Richard Francis-Jones, design director of fjmt said the practice’s design for this final residential stage of Central Park introduces a curvilinear and fluid architecture.
“The most critical element of the design is the unique façade, which is designed to integrate the outdoor spaces, such as the loggias and balconies, while providing shading and privacy where required,” Francis-Jones said.
“The building is divided into three individual parts, each with its own unique foyer. The western foyer is located directly opposite Chippendale Green. The central foyer is directly opposite Park Lane and the eastern foyer opens onto the northern landscaped area and retail terrace."
Some of fjmt’s recent projects include the harbour-front apartments at Barangaroo South, the Auckland Art Gallery which won the 2013 World Building of the Year award, the University of Sydney Law School, the Surry Hills Library and Community Centre, and The Mint historic restoration.
Sales and marketing of Block 11 are expected to start in mid 2016.
Frasers Property have a free eBook to download titled Australia aspires to global green leadership: The Living Building Challenge <a href="http://propertyobserver.com.au/forward-planning/tools/ebooks-and-webinars/52152-australia-aspires-to-global-green-leadership-the-living-building-challenge" target="_blank">which you can get here</a>.
 
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