For most new apartment buildings, the Owners Corporation starts life with little more than a bank account and the first quarterly strata levies.

At <a href="https://www.apartments.com.au/buildings/9-gay-street-castle-hill-9-gay-street-castle-hill-nsw-2154">9 Gay Street</a> in <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a>, it starts with around $7 million in reserve.

It's an unusual legacy of what was once one of Sydney's highest-profile apartment remediation projects. When the development, originally known as Skyview and built by disgraced developer Top Place, came under scrutiny by then NSW Building Commissioner David Chandler, an $11 million remediation bond was negotiated to ensure any building defects could be fully rectified.

The building underwent an 18-month remediation program, during which around $4 million of that bond was spent bringing the building up to the standard it should have been in from the outset.

After extensive inspections, all active rectification orders have been lifted. What's more, around $7.2 million remains secured for the Owners Corporation for the next 15 years.

In a twist few would have predicted, what began as a significant concern for purchasers has left the building with something almost unheard of in the apartment market: a multi-million-dollar financial reserve from day one.

[smartcode_project:default project_id=147685 project_image_fid=359136]

<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a> Executive Chairman Greg Huxley said the structure offers buyers a level of certainty that is difficult to replicate.

"The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers," Huxley said.

"Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind."

The apartments themselves have been designed with a focus on practical, contemporary living. Interiors feature Smeg appliances, stone benchtops, tiled living areas, carpeted bedrooms, 2.7-metre ceilings, floor-to-ceiling glazing, and ducted heating and cooling throughout.

Residents also have access to a range of shared amenities, including two rooftop barbecue areas, a swimming pool, children's playgrounds, secure building access, storage cages, and visitor parking.

The location continues to be one of the project's strongest drawcards. Castle Hill Metro Station sits virtually on the doorstep, providing direct connections across Sydney's expanding Metro network, while Castle Towers offers extensive retail, dining, entertainment, and service amenities within walking distance.

[smartcode_project:default project_id=147685 project_image_fid=359127]

The building, now named after its location at 9 Gay Street, comprises a diverse mix of one-, two-, and three-bedroom apartments starting from just under $600,000.

Equitifund National Sales Director Ben Hamblett said demand in the Hills District continues to be driven by buyers seeking convenience and connectivity.

"Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre," Hamblett said.

"There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living."

On top of the long-term protection afforded by the remaining $7.2 million bond, Equitifund is offering a limited-time stamp duty rebate on selected apartments.

Eligible purchasers can also secure finance options, including a 3.99 per cent two-year variable rate, loan-to-value ratios of up to 90 per cent, and interest-only lending options through EquitiCredit.

[smartcode_project_cta:default project_id=147685]

Joel Robinson

Why this Castle Hill apartment building starts with a $7 million advantage

For much of the past few years, conversations about Australia's property market have centred on the rapid growth seen in Sydney, Brisbane, Gold Coast, and Perth. <a href="https://www.apartments.com.au/developments/melbourne-vic-3004">Melbourne</a> has followed a different trajectory.

That relative underperformance is now encouraging some buyers to reassess the city, particularly those willing to look beyond short-term market movements and focus on quality property in established locations, along with the long-term growth prospects of a city expected to overtake Sydney as Australia’s most populous.

John Bekiaris, Research &amp; Market Insights at <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a>, said Melbourne's current position is attracting increasingly sophisticated purchasers.

"Melbourne continues to present one of Australia's strongest long-term investment stories," Bekiaris says.

"While other capital cities have experienced stronger recent growth, that relative underperformance is exactly what's attracting sophisticated counter-cyclical investors."

[smartcode_project:default project_id=1979 project_image_fid=363268]

Equitifund isn't just commenting on Melbourne's property market, it's investing in it.

The Sydney-headquartered capital partner has taken over the remaining apartments at <a href="https://www.apartments.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne-vic-3004">Victoriana</a>, the recently completed glass-encased development opposite Albert Park Lake in Melbourne's tightly held St Kilda Road precinct.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and built by <a href="https://www.apartments.com.au/builders/hickory">Hickory</a>, Victoriana places residents between one of Melbourne's most recognised parklands and the CBD, offering oversized two and three-bedroom apartments aimed at owner-occupiers seeking a genuine alternative to a traditional family home.

The development comprises 232 completed residences alongside a suite of resident amenities, including a 25-metre indoor swimming pool, gymnasium, landscaped entertaining areas, resident lounges, EV charging, secure basement parking and a concierge-style arrival experience.

[smartcode_project:default project_id=1979 project_image_fid=363229]

The apartments have been designed with owner-occupiers firmly in mind.&nbsp;Open-plan living and dining areas flow onto generous balconies framing views across Albert Park Lake, Fawkner Park, the Royal Botanic Gardens and the Melbourne skyline.

Kitchens feature Gaggenau appliances, stone benchtops and generous preparation space. Bedrooms include built-in robes, while bathrooms feature full-height textured tiling. Hardwood flooring and ducted air conditioning complete residences designed for long-term living.

Rothelowman's architecture takes its cues from the landscape opposite the site. Sweeping horizontal glazing references the movement of Albert Park Lake, while generous balconies and expansive glazing strengthen the connection between the apartments and the surrounding parklands. The result is a building designed to deliver the scale and amenity expected of luxury apartment living, while offering the larger floorplans increasingly sought by owner-occupiers.

[smartcode_project:default project_id=1979 project_image_fid=363284]

The location is one of Victoriana's defining characteristics. Positioned on Queens Road, residents are directly opposite Albert Park Lake and within easy reach of Fawkner Park, the Royal Botanic Gardens, South Melbourne, St Kilda Road and the CBD. With few comparable development opportunities remaining in the precinct, buyers are increasingly placing value on outlooks that are unlikely to be interrupted by future construction.

Greg Huxley, Founder of Equitifund, believes those qualities become even more valuable over time.

"Premium real estate has always rewarded buyers who take a long-term view," Huxley said.

"Victoriana represents the kind of asset that's increasingly difficult to recreate today, particularly in an established location like Queens Road."

He said rising construction costs are also changing the way buyers assess completed developments.

"When you combine an irreplaceable location with thoughtful architecture and premium finishes, you create something that becomes increasingly difficult to reproduce as construction costs continue to rise."

[smartcode_project:default project_id=1979 project_image_fid=363228]

According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

[smartcode_project_cta:default project_id=1979]

Why now is the time to buy in Melbourne's premium apartment market

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

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

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

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

[smartcode_project_cta:default project_id=151449]

Sherpa sells out Flourish Oasis in booming Palm Beach

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

La Vera closes in on completion as Macquarie Park continues residential transformation

Commercial Listings

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The Georgian style Redfern terrace of vintage antique store and florist Seasonal Concepts has been listed for sale.
The historic mixed use property at <a href="https://www.allhomes.com.au/commercial-sale/122-redfern-street-redfern-inner-sydney-176020502" target="_blank">122 Redfern Street</a> dates back to 1856 when it was built as a house.
In 1926 the backyard of the house was enclosed by an engineer and used as his workshop until the 1970s.
In the heart of the village, the property now comprises a warehouse style retail space and a two level private apartment above with a north facing rooftop garden.
The 145 sqm commercial retail space features soaring vaulted ceilings and exposed beams. 
<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/Seasons2.jpg" alt="">
The property has been ran as Seasonal Concepts since 2009, a few years after Ken Wallis and his partner TR Keller paid $570,000 for the space in 2006.
Wallis and Keller initially wanted to create a florist unlike any other in Sydney.
“We wanted to marry fresh in-season flowers with the contents of Grandma’s kitchen and Grandpa’s shed and present it with all the wonder that I experienced as a kid in the country,” Wallis says.
Baz Luhrmann sourced props for his adaption of the roaring 20s classic The Great Gatsby. 
LJ Hooker agent James Griffiths is marketing the property.
 
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The 1850s Redfern home of Seasonal Concepts for sale

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Miron Solomons, Matt Pontey and Nick Lumley are selling 10 Oxford Street, Woollahra, home to St Claude's restaurant, via a public auction on August 30 2018.
St Claude's is a contemporary French bistro in the heart of Woollahra which was originally opened as Claudes restaurant in 1976, forming part of Sydney's 'golden restaurant age'. It reopened as St Claude's in 2015.
"This area has transformed from one of Sydney's prime shopping strips into a suburb awash with top restaurants, wine bars and cafes," said Miron Solomons, National Director, Investment Services at Colliers International.
"This is an opportunity to purchase a quality freehold asset with a strong 5x5 lease and iconic tenant in one of Sydney's most affluent areas."
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Woollahra institution is on the market

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A Townsville educational facility on a 26.17 hectare holding is being offered for sale with "significant development potential".
The property located at 190 Hervey Range Road in Townsville is being presented to buyers by Robert Dunne and Gregory Woods of Savills via an Expression of Interest campaign.
The property’s current major use is an educational campus, comprising of prep, primary and secondary schools, with additional accommodation facilities for male and female students.
“We predict the opportunity will be seized by either an educational provider wanting to continue the operation of an educational facility, or by a property developer wanting to improve the current use," said director of commercial sales for Savills, Robert Dunne.
The property is zoned “Community Facilities” with development opportunities including but not limited to health care services, retirement facility and residential aged care facility comprising a maximum building height of three storeys, subject to code assessment.
Director of Capital Transactions Gregory Woods said this scale of opportunity with all its improvements is rarely available.
The property is located 12km from the city centre of Townsville, with access to the major roads connecting Western Townsville with the Townsville CBD.
The opportunity is being presented to market at an "ideal time", with thousands of homes in the pipeline for Townsville’s booming Western Corridor.
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Savills presents 26 hectare opportunity in Townsville market

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The ACT Government is releasing two city centre sites located on Northbourne Avenue, Braddon and Turner.
With a combined 39,000 square metres of prime mixed-use land, these blocks are the last of the former multi-unit public housing sites on Northbourne Avenue being sold by the ACT Government.
 “The ACT Government wants to ensure there is an integrated design that unites the two sites," Colliers International Associate Director Residential, Josh Reid said.
Proposals will need to provide a masterplan for the two sites that considers the location; its constraints; interface with adjacent Haig Park; and a site design, known as the Weave Design, that was the winner of a design competition in 2011.
They also need to demonstrate how they will adopt a "people focused approach to the redevelopment; and include a place proposition plan and community consultation plan".
Colliers International is leading the sales campaign for Braddon and Turner on Northbourne in conjunction with JLL.
These sites are being sold through tender and tenders close October 4.
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Former Canberra public housing block sites for sale

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The building at 1033 High Street, Armadale comprising street level retail, commercial offices above on the first floor and a residential penthouse on the second level has sold to a local investor for $2,835,000.
Its been bought by a company directed by Anthony Brearley, the partner in the property and construction division at Mills Oakley Lawyers, and his wife, Sara.
It was sold by Robert Walls, the former AFL player and coach turned prominent media commentator. 
The total current building rental income is $141,000 for the contemporary three level mixed use building with a street frontage of 4.77 metres.
<a href="https://www.realcommercial.com.au/property-retail-vic-armadale-502400114" target="_blank">The ground floor retail space</a> is tenanted by Jaggad, the athletic designer clothes business created by Chris and Rebecca Judd until July. 
<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/2018/5/30/jaggad.jpg" alt="">
They occupy the space of 85 square metres under a lease with two further three year options at a current annual rental of $73,000 with annual rental increases fixed at 4%.
The first-floor office space with its own street level and staircase entry is tenanted by a medical services group at an annual rental of $36,000 under a recently negotiated five year plus five year option lease.
There is a residential lease for the high quality two bedroom, two bathroom penthouse above on the second level.
The property has a building area of 345 square metre plus 50 square metres of garaging but importantly the laneway at the rear also provides the secure garaging for two vehicles.
<a href="http://grayjohnson.com.au/property/1033-high-street-armadale-2/" target="_blank">Gray Johnson selling agent Rory White</a> said that the property is among one of the best precincts of High Street just east of Kooyong Road.
Combined income stood at $141,800 per annum with three strong income streams. Its first floor office is leased to an established medical group.
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Chris and Bec Judd's Jaggad get new landlord on High Street, Armadale

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News Corp Australia has partnered with property website realcommercial.com.au for a new premium multi-platform advertising solution for commercial property clients. 
Combining the audience of <a href="https://realcommercial.com.au/" target="_blank">realcommercial.com.au</a> with the reach of News Corp Australia mastheads including The Australian, Herald Sun, The Courier-Mail and digital edition of The Wall Street Journal, commercial property advertisers can now expect to reach up to 9 million people both in Australia and internationally.
“This is the first time News Corp Australia has partnered with realcommercial.com.au and the first time we have bundled one of our international mastheads into the mix,” said The Australian general manager-sales Rachel Savio. 
“2016 is set to be an active year for commercial property investment in Australia with increasingly more interest from overseas investors. According to real estate firm CBRE a total of $28.4 billion of commercial property encompassing office, industrial and retail, was sold last year in Australia.”
Commenting on the partnership, realcommercial.com.au’s executive general manager Joseph Lyons said, “This partnership brings together the power of realcommercial.com.au, News Corp Australia’s mastheads, and The Wall Street Journal Asia to help our clients reach potential buyers and tenants in Australia and internationally.
“We are seeing increasing interest in commercial property from interstate and overseas buyers and this multi-platform bundle will offer customers more reach than they have ever before had access to in one package. The opportunity speaks for itself with an audience of up to nine million people.”
 
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News Corp Australia partners realcommercial.com.au for commercial real estate listings

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A prized Blackwattle Bay development site, with jetty, near the Sydney Fish Markets has been scheduled for an online auction next Tuesday.
The 2988 sqm Bank Street holding, currently utilised for fish freezing storage, was recently bought off market by a private local investment syndicate. 
 <img src="/images/2015/11/13/blackw.jpg" alt="" width="495" height="288">
The previous owner, the Chinese developer Dahua sold mid-year after its controversial mixed use development plans for the precinct drew a backlash from the NSW government.
"At 11am on Tuesday 17th, a reserve price will be uploaded and a starting bid logged," the <a href="https://auctionworks.net.au/" target="_blank">auctionworks.net.au</a> auctioneer David Scholes said.
The bidding will close at 1pm Wednesday, unless there is last minute further bidding.
"All interested parties will need to register with the agents and provide sufficient identification to allow them to select a bidder’s number and compete," Mr Scholes said.
Competitive bidding is expected as Blackwattle Bay is the crown jewel in the NSW Government’s Urban Growths renewal plans for a waterfront tourist precinct.
While Urban Growths' Bays Market masterplan has yet been released, work on the foreshore walk is scheduled to commence in early 2016.
The nearby Sydney Fish Market land will be up for tender in March next year. 
The site for auction, which sits between Poulos Bros and Hymix, has been listed as a place of state significant development under the State and Regional Development SEPP with the minister as the consent authority rather than City of Sydney Council.
The existing controls allow hotels but developers are likely to seek mixed residential usage.
"The short auction deadline is not ideal, but the option to purchase is a live prospect," the Deans Property listing agent, Robert Deans said.
"It is a great opportunity alone or as part of a broader scale redevelopment," he said. Any redevelopment of the nearby fish market must be approved by the SFM Merchants and Tenants.
The Labor State Government started the Bays Precinct consultation and the Liberal Government appointed Urban Growth as the coordinating agency. 
The sales brochure point to an Urban Growth document that indicates more density and higher planning controls was possible for the site.
"It appears from the captured image that it is proposed that the building on the subject land will be a 14 storey building," says the auction marketing.
"This is speculative and interested parties should make their own assessments," it said. 
Most of the Blackwattle Bay waterfront is government-owned, but Jin Huiming's Dahua Group paid $17.5 million to buy the site from Bidvest last year.
The Dahua Group on-sold the site to the current vendors, Fishbank Development Corporation in June this year, according to a caveat on the title, but the delayed settlement sale has not yet been finalised.
Mr Jin, 63, previously was ranked by Forbes as the 36th richest person in China a decade ago when Dahua was ranked in China's top 10 real estate companies.
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