<section data-scroll-anchor="false" data-testid="conversation-turn-6" data-turn="assistant" data-turn-id="request-WEB:ca872054-bfe3-4cc5-a2c8-b373d4dfeafb-2" dir="auto">
A completed Castle Hill apartment development is returning to market with an uncommon level of financial backing, positioning it as one of the more secure options for buyers in Sydney’s north-west.

Skyview in Castle Hill, originally developed by Top Place and now overseen by capital partner <a href="https://www.apartments.com.au/developers/equitifund-group">Equitifund</a>, is being relaunched following a full remediation process. Central to its repositioning is a substantial financial reserve designed to provide ongoing protection and reduce uncertainty for incoming purchasers.

At the core of this offering is an $11 million bond secured during the project’s remediation phase, negotiated by former NSW Building Commissioner David Chandler. With less than $4 million required to complete the works, approximately $7.2 million remains in reserve, with around 15 years left on the term.

[smartcode_project:default project_id=147685 project_image_fid=359134]

Rather than a typical insurance-backed structure, the remaining funds are held as cash, creating a readily accessible financial buffer should any future building issues arise. The structure is intended to provide buyers with an added layer of certainty, differentiating the development from more conventional apartment offerings.

Equitifund Executive Chairman Greg Huxley said the structure provides a level of security not typically seen in apartment developments.

“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.”

[smartcode_project:default project_id=147685 project_image_fid=359135]

The remediation process has now been completed in full, with no active rectification orders or outstanding directives linked to the project on NSW Government registers. This outcome reflects the broader tightening of building oversight across the state, while also highlighting the project’s transition into a completed, compliant asset.

In a market where many buyers remain cautious about apartment quality, initiatives like this are designed to restore confidence, giving purchasers greater certainty and a stronger sense of security in their investment.

Equitifund has since acquired the remaining apartments and is managing their reintroduction to the market. With the works finalised and a significant financial reserve in place, the project now presents with a markedly different risk profile compared to its initial release.

[smartcode_project:default project_id=147685 project_image_fid=359137]

Beyond the added security, the development is positioned in one of Castle Hill’s more established pockets. The Gay Street address places it within close proximity to Castle Towers, one of the country’s largest retail centres, as well as Castle Hill Metro Station, which now connects directly to the broader Sydney Metro network.

Equitifund National Sales Director Ben Hamblett said buyer demand in the area continues to be driven by access to transport and amenity.

“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.”

[smartcode_project:default project_id=147685 project_image_fid=359145]

The apartments also enter the market at a relatively accessible price point for the area, with two-bedroom configurations starting from $995,000 and rental demand for similar stock reaching around $900 per week. This combination of pricing, connectivity, and completed status is expected to appeal to both owner-occupiers and investors seeking lower-risk entry into the Hills District apartment market.

For eligible buyers, a limited 3.50 per cent p.a. two-year fixed interest rate is currently available through Equitifund’s lending partners, providing an additional layer of affordability.

EquitiCredit Pty Ltd ACN 676 363 769 holds ACL 559289 and provides credit assistance. Finance is arranged through EquitiCredit and funded by its lending partners. Interest rates are subject to change and eligibility criteria apply. Terms, conditions, fees and charges may apply. This is not financial advice and should not be relied upon as such. Prospective buyers should seek independent financial advice.

[smartcode_project_cta:default project_id=147685]
</section>

Joel Robinson

Castle Hill apartments offering unmatched buyer protection through dedicated fund

A State-Assessed Rezoning Proposal for the Kurnell Peninsula is now on public exhibition, setting out a plan to deliver up to 4,300 homes alongside new retail, tourism and public open space on a 210-hectare coastal site.

The proposal, backed by the Minns Labor Government, would transform a former sand mining area along Captain Cook Drive into a mixed-use precinct delivered over approximately 20 years.

In addition to housing, the plan includes more than 7,000 sqm of retail and commercial space, new community facilities and approximately 116 hectares of open space, equating to more than half the site.

<img alt="Kurnell" data-entity-type="file" data-entity-uuid="ce1c6567-1df0-4de0-9fe5-a76be0367834" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-13%20at%209.11.51%E2%80%AFAM_0.png?VersionId=dbbTmYaJvROA5fkQbgaxis8cmFwtpB5_" />

<hr data-end="849" data-start="846" />
<h2 data-end="902" data-section-id="ony3l3" data-start="851">Rezoning framework enables mixed-use development</h2>

The rezoning application seeks to amend planning controls under the State Environmental Planning Policy (Precincts—Central River City) and the Sutherland Shire Local Environmental Plan 2015.

Its primary objective is to enable a broader range of land uses across the site, including residential, employment, tourism and community uses, while also formalising environmental protections and land management outcomes .

The proposal has progressed through the state-led rezoning pathway after being identified as a project of regional significance, supported by several years of technical studies and agency consultation .

Development would occur in stages, aligned with the progressive closure and remediation of the existing sand mine.

<hr data-end="1718" data-start="1715" />
<h2 data-end="1768" data-section-id="krwii9" data-start="1720">Master plan structured around three precincts</h2>

The accompanying urban design report outlines an indicative master plan that divides the site into three primary precincts, anchored by a town centre in the western portion of the site.

The town centre is planned as the first stage of development, located on land that has already been remediated. It is intended to accommodate higher-density housing, retail, and community uses.

<img alt="Kurnell" data-entity-type="file" data-entity-uuid="4bfd5873-4847-4105-b220-0a30c96f5573" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-13%20at%209.20.09%E2%80%AFAM.png?VersionId=7aVaSsZLAc6mElSH4g6Ct5bGsNxZcnPL" />

Additional precincts extend toward Bate Bay and Boat Harbour, with built form responding to environmental conditions and proximity to the coastline.

The design framework identifies distinct local character areas, with the master plan structured to reflect “unique natural qualities” across the site.

<hr data-end="2495" data-start="2492" />
<h2 data-end="2544" data-section-id="1vitwqn" data-start="2497">Open space forms core of the design approach</h2>

A key component of the proposal is the allocation of approximately 116 hectares to open space and ecological land.

This includes:

<ul data-end="2846" data-start="2678">
	<li data-end="2702" data-section-id="d96caj" data-start="2678">Three district parks</li>
	<li data-end="2723" data-section-id="17y6uz6" data-start="2703">Nine local parks</li>
	<li data-end="2741" data-section-id="14hui00" data-start="2724">Sports fields</li>
	<li data-end="2778" data-section-id="ts7psx" data-start="2742">Coastal and ecological corridors</li>
	<li data-end="2846" data-section-id="agduax" data-start="2779">Two kilometres of publicly accessible beachfront along Bate Bay</li>
</ul>

The urban design report positions this open space network as central to the structure of the development, rather than ancillary to it.

It is intended to support ecological regeneration, provide recreational amenity and create a connected network across the peninsula.

The plan includes north–south ecological corridors, expanded wetland systems and pedestrian and cycling links designed to connect residential areas to the coastline and open space areas .

<hr data-end="3347" data-start="3344" />
<h2 data-end="3381" data-section-id="ql66rt" data-start="3349">Housing mix and affordability</h2>

The proposal includes approximately 4,300 dwellings across a range of housing types.

This includes high-density apartments, medium-density housing, townhouses and seniors housing.

Affordable housing provision is identified at approximately 240 dwellings, alongside a smaller component of social housing.

The master plan emphasises housing diversity, with the intent of accommodating a range of household types and age groups within the development.

<img alt="Kurnell" data-entity-type="file" data-entity-uuid="d4baba4d-b5b0-4a86-bcad-5d319b036184" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-13%20at%209.11.59%E2%80%AFAM.png?VersionId=udYFz0q8tjEPR3pmKLHRSFRJN4dKakPO" />

<hr data-end="3877" data-start="3874" />
<h2 data-end="3919" data-section-id="rgckdv" data-start="3879">Built form controls and height limits</h2>

Proposed building heights across the site range from three to 12 storeys.

These controls are set out within the rezoning application and are intended to manage visual impact, maintain view corridors and ensure compatibility with the coastal landscape.

Floor space ratios and height limits are applied across different parts of the site to reflect varying environmental conditions and proximity to open space and the coastline .

Higher density is generally concentrated within the town centre, with lower-scale development toward the coastal edge and environmentally sensitive areas.

<hr data-end="4548" data-start="4545" />
<h2 data-end="4588" data-section-id="1minlda" data-start="4550">Retail, tourism and employment uses</h2>

In addition to residential development, the proposal includes retail, commercial and tourism uses.

This includes:

<ul data-end="4896" data-start="4706">
	<li data-end="4775" data-section-id="1jrun76" data-start="4706">Approximately 7,000–9,800sqm of retail and commercial floor space</li>
	<li data-end="4803" data-section-id="10kyifw" data-start="4776">A full-line supermarket</li>
	<li data-end="4830" data-section-id="fz1hdg" data-start="4804">Food and beverage uses</li>
	<li data-end="4896" data-section-id="1aqg2fj" data-start="4831">Tourism accommodation, including hotel and short-stay options</li>
</ul>

The proposal also identifies employment outcomes, with the development expected to support jobs both during construction and in ongoing operations.

These uses are concentrated within the town centre and key activity areas across the site.

<hr data-end="5142" data-start="5139" />
<h2 data-end="5172" data-section-id="162x2kt" data-start="5144">Infrastructure and access</h2>

The proposal includes upgrades to Captain Cook Drive, which provides the primary access to the peninsula.

These upgrades are intended to improve traffic flow and support emergency access.

The transport strategy also incorporates:

<ul data-end="5529" data-start="5407">
	<li data-end="5433" data-section-id="fanquy" data-start="5407">Internal road networks</li>
	<li data-end="5469" data-section-id="o6y80y" data-start="5434">Walking and cycling connections</li>
	<li data-end="5529" data-section-id="jgraft" data-start="5470">Proposed public transport routes and bus stop locations</li>
</ul>

The rezoning report includes detailed analysis of transport, flooding, and infrastructure requirements to support the staged development of the site .

<hr data-end="5723" data-start="5720" />
<h2 data-end="5769" data-section-id="14urh3" data-start="5725">Environmental and cultural considerations</h2>

The site is identified as having environmental and cultural significance, including areas of ecological value and Aboriginal archaeological sensitivity.

The proposal includes measures to protect and enhance these areas, including:

<ul data-end="6230" data-start="6004">
	<li data-end="6056" data-section-id="1pzyouo" data-start="6004">Retention and regeneration of coastal vegetation</li>
	<li data-end="6100" data-section-id="bjn2vz" data-start="6057">Strengthening of biodiversity corridors</li>
	<li data-end="6148" data-section-id="1bpeyoj" data-start="6101">Protection of riparian systems and wetlands</li>
	<li data-end="6230" data-section-id="lg0cka" data-start="6149">Integration of cultural interpretation and recognition of Indigenous heritage</li>
</ul>

The urban design report also outlines opportunities for incorporating Indigenous cultural elements into public spaces and landscape design.

<hr data-end="6893" data-start="6890" />
<h2 data-end="6908" data-section-id="w7rk5f" data-start="6895">Next steps</h2>

The proposal is currently on public exhibition, with submissions open to the community. Feedback received during this period will inform the Department of Planning’s assessment of the rezoning.

If approved, the rezoning would establish the planning framework for future development applications across the site.

<hr data-end="6893" data-start="6890" />
<h2 data-end="6908" data-section-id="w7rk5f" data-start="6895">What the NSW Government says</h2>

Minister for Planning and Public Spaces Paul Scully said the planned closure of the sand mine and remediation of the Kurnell Peninsula presents an exciting opportunity to transform the area.

“This proposal envisions a vibrant new beachfront community with thousands of new homes, jobs and great open space in the Sutherland Shire. I encourage the community to have their say during the public exhibition period. Feedback from the community will play an important role in the assessment of the proposal.”

Sydney's newest beachfront city: NSW Gov to unlock 4,300 new homes on Kurnell peninsula

A long-awaited transformation of a former industrial site in Holroyd has been given the green light, with the NSW Government approving the $1.2 billion Crescent Parklands masterplan that will deliver more than 1,200 new homes just south of Parramatta.

The State Significant Development approval clears the way for a large-scale mixed-use precinct at <a href="https://www.apartments.com.au/new-apartments/1-crescent-street-holroyd-nsw-2142">1 Crescent Street</a>, replacing an underutilised site with a coordinated residential community anchored by new open space, retail, and commercial uses.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> for WA-based developer Tiberius, the approved scheme comprises seven buildings arranged across two precincts. In total, the development will deliver 1,227 apartments, including 201 allocated as affordable housing, alongside approximately 2,500 sqm of retail and 5,000 sqm of commercial space within a mixed-use podium.

<img alt="Tiberius’ Crescent Parklands to deliver 1,200+ homes in major Holroyd transformation" data-entity-type="file" data-entity-uuid="1cc82dd2-8184-4b86-8665-90653147820d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Crescent%20buildings.png?VersionId=2ZmVDc_Rfc4AzQ6ShzZJlvdZnACLerVM" />

The project is structured as a masterplanned precinct rather than a standalone tower. Buildings 1 to 4 will rise from a shared podium with shop-top housing, while Buildings 5 to 7 are positioned closer to the northern park interface as residential flat buildings. The built form has been carefully modulated to balance density with amenity, with the design resolving building separation, solar access, and wind impacts at a precinct scale.

A significant focus of the design is the activation of Crescent Street and the integration of public domain. The submission notes that “individual townhouses [were] removed for community based functions to Crescent Street to increase activation and surveillance,” reinforcing a more urban and publicly engaged street edge. Retail, commercial tenancies, and resident amenity spaces are concentrated along this frontage and within the podium to support day-to-day activity.

The landscape strategy underpins the project’s identity, with a network of pedestrian connections, landscaped corridors, and open spaces linking the site internally and to its surroundings. The design prioritises permeability, delivering “increased uninterrupted flow between spaces for pedestrian access” and improved connections through to the adjoining parklands.

<img alt="Tiberius’ Crescent Parklands to deliver 1,200+ homes in major Holroyd transformation" data-entity-type="file" data-entity-uuid="19282454-ab2f-4e2c-866f-4b35cf4283d4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Crescent%20masterplan.png?VersionId=JQdWGYI5B5R1lzmK4omYOp_8KLPkT4Bv" />

Buildings within the western precinct are oriented toward the park, shaping a residential offering defined by proximity to open space. The design describes this approach as creating apartments “immersed in nature with apartments facing the park,” positioning the landscape as a central organising element of the masterplan.

The broader architectural response addresses both infrastructure and context, with taller elements capturing long-range views toward Parramatta while setbacks and separation distances mitigate impacts on surrounding residential areas. Sustainability initiatives, including solar optimisation, cross-ventilation, and integrated landscape systems, are embedded across the scheme.

Located approximately one kilometre south of Parramatta CBD, the 3.6-hectare site is bounded by Crescent Street, Woodville Road, and Holroyd Sportsground. It benefits from strong access to public transport, including nearby bus routes and train stations, and sits within a rapidly evolving corridor earmarked for increased residential density. The design also strengthens connections between surrounding green spaces, including Holroyd Sportsground and Parramatta Parklands.

The approval follows several years of planning, including a rezoning process that enabled significant uplift in height and density across the site. With determination now secured, Crescent Parklands is positioned to play a major role in delivering new housing supply within Greater Parramatta’s growth area.

Tiberius’ Crescent Parklands to deliver over 1,200 homes in major Holroyd transformation

A new State Significant Development application has been lodged over land at <a href="https://www.apartments.com.au/new-apartments/33-43-marion-street-parramatta-nsw-2150">33–43 Marion Street</a>, Parramatta, proposing a high-rise mixed-use tower that leverages planning incentives to deliver a substantial pipeline of new housing, including a dedicated affordable component.

The scheme, currently on exhibition, combines a shop-top housing development with a concurrent rezoning, positioning the site for a significant uplift in density within Parramatta’s evolving southern CBD fringe.

The proposal, designed by <a href="https://www.apartments.com.au/architects/fuse-architecture-0">Fuse Architects</a> for CN Marion, would replace the existing buildings with a 37-storey mixed-use tower, delivering 296 apartments above a retail podium with six basement levels on the 2,376 sqm site.

The residential mix comprises 58 one-bedroom, 207 two-bedroom, and 31 three-bedroom apartments, with communal facilities located on the second level and the rooftop. Ground-level activation is driven by retail and food and beverage tenancies, alongside a publicly accessible through-site link designed to improve pedestrian permeability.

The project includes 194 car spaces, five motorcycle spaces, and 348 bicycle spaces, reflecting a transit-oriented approach in a location directly adjacent to the rail corridor and within walking distance of Harris Park Station.

<img alt="First Look: Plans lodged for 37-storey mixed-use tower with affordable housing at 33–43 Marion Street, Parramatta" data-entity-type="file" data-entity-uuid="3db873ea-62f0-437b-8a6a-eeda154d2dee" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Marion%20building.png?VersionId=YwzBv8OVHwyRnMLGX4slU7QyhTyMZeOX" />

The design adopts a podium-and-tower composition, with a three-storey street wall addressing Marion Street and a reduced two-storey interface responding to adjoining heritage cottages.

A key component of the proposal is the integration of affordable housing under the NSW Government’s in-fill affordable housing pathway, with units to be retained for a minimum of 15 years. This is paired with a broader public domain strategy that emphasises permeability, deep soil planting, and a landscaped through-site link.

“The strategy prioritises a permeable, well-activated public realm and supports a compact tower form to minimise the building’s footprint while enhancing the quality of the ground-level experience,” the design report states.

The proposal includes a central landscaped courtyard, rooftop communal areas, and planting strategies aligned with local environmental conditions and cultural narratives.

<img alt="First Look: Plans lodged for 37-storey mixed-use tower with affordable housing at 33–43 Marion Street, Parramatta" data-entity-type="file" data-entity-uuid="f0e6c165-9967-4d20-9216-e5b8357c85ba" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Marion%20site.png?VersionId=SRod222LwgDmGZJmJY0wTbK39UrWZLSD" />

The site occupies a prominent corner of Marion and Station streets, roughly 100 metres from Harris Park Station, within a precinct earmarked for significant intensification. While the immediate context is characterised by low- to mid-rise buildings and heritage dwellings, planning controls and recent proposals point to a transition toward high-density development.

<section data-scroll-anchor="false" data-testid="conversation-turn-2" data-turn="assistant" data-turn-id="request-WEB:c78224e4-1dd1-48ac-afda-97fe23bac47e-0" dir="auto">
Parramatta has been starved of new apartment supply in recent years. Builder-developers Deicorp and Coronation are the only two currently progressing projects in the suburb. Coronation is nearing completion of <a href="https://www.apartments.com.au/new-apartments/8-phillip-street-2-10-phillip-street-parramatta">8 Phillip Street</a>, which will be the tallest building in Western Sydney once finished, while Deicorp is delivering <a href="https://www.apartments.com.au/new-apartments/cosmopolitan-by-deicorp-parramatta-34-hassall-street-parramatta-nsw-2150">Cosmopolitan</a>, a development comprising over 600 apartments.
</section>

First Look: Plans lodged for 37-storey mixed-use tower in Parramatta

A substantial uplift in height and density is being tested in Lane Cove, with a 225-apartment scheme at 300 Burns Bay Road now on public exhibition as a State Significant Development alongside a concurrent rezoning.

The proposal by <a href="https://www.apartments.com.au/developers/level-33">Level 33</a> would see the demolition of an existing commercial building and associated structures, replaced by a residential development ranging from seven to 15 storeys.&nbsp;

The scheme delivers 225 apartments, including 34 designated as affordable housing, positioning it within the NSW Government’s accelerated Housing Delivery Authority pathway.

The development is arranged as three interconnected residential flat buildings, a response to the site’s long, narrow configuration and sloping topography.&nbsp;

<img alt="First look: 225-apartment Lane Cove tower proposal enters exhibition under State Significant pathway" data-entity-type="file" data-entity-uuid="c325d40c-ead5-45f4-9d77-5a446b23acc0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Lane%20Cove%20pers.png?VersionId=hsCJxT5hj.5kzA6AMInyan1x8mcHeRez" />

<a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a>, the project’s designer, describe a built form that is “divided into three sections, each connected by intermediate infill slots which are recessed to establish greater setbacks and further articulate the development.”

Across the scheme, apartments are supported by communal amenity at ground and rooftop levels, including landscaped open space and a rooftop pool. Basement and lower ground levels accommodate parking, storage, and building services, while a new public park is proposed along the eastern edge of the site, replacing part of the existing built form.

The architectural response has been shaped by the site’s pronounced fall towards the Lane Cove River, with building heights stepping down from west to east to reduce visual bulk and respond to adjoining bushland.&nbsp;

The design report notes that “the development has been carefully designed to integrate with the existing topography with the placement of massing and floor levels adjusted respecting the site’s inherent characteristics.”

<img alt="First look: 225-apartment Lane Cove tower proposal enters exhibition under State Significant pathway" data-entity-type="file" data-entity-uuid="31cc13a5-bc8b-4dc3-b9b1-07c6ec33a82b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Lane%20cove%20site.png?VersionId=NiyH3LimQwiHsE6Q7I5g4Grpr5fRdZaX" />

The project is being advanced through a concurrent rezoning process, seeking to increase the permissible height and floor space ratio beyond current Lane Cove LEP controls of 21 metres. Under the proposal, height would reach up to 54.5 metres, reflecting a shift toward higher-density outcomes in well-located urban areas.

Located on a 7,595 sqm site, the development sits within an established high-density residential pocket characterised by mid-rise apartment buildings set within a bushland setting. The site is within close proximity to Burns Bay Reserve, the Lane Cove River, and an extensive network of open space, reinforcing its strategic positioning for increased housing supply.

Level 33 is doing through the Housing Delivery Authority to try and get its Homebush project of <a href="https://www.apartments.com.au/news/nsw/level-33-adds-to-2-000-unit-pipeline-with-new-two-tower-homebush-plans">more than 300 apartments approved</a>.

The developer has over 2,000 apartments in the pipeline, predominantly in Wollongong.

First look: Level 33 proposes 225-apartment Lane Cove tower

East Perth

The ASX-listed Perth developer Finbar Group are set to redevelop the old heritage-listed former Chemistry Centre on the fringe of Queens Park in East Perth.

The $154 million plans, drawn up by architecture firm S S Chang Architects, see the current heritage-listed building at 101 Hay Street, which dates back to 1942, incorporated in the design, acting as a base for a 27-level tower.

Given the vast 5,335&nbsp;sqm site, Finbar are also building another 38-level tower alongside. Combined the development will have 331 apartments.&nbsp;

The development plans pay homage to the heritage by retaining the Material Sciences building and a hexagonal design feature that also provides shade to apartments. The former Chemistry Centre will home 550 sqm worth of restaurant or cafes. There will be a further&nbsp;eight spaces slated for restaurant or cafe use, three personal service spaces and a shop, activating the 1,300 sqm of street level commercial space.

<img alt="" height="800" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/110_east_st_perth.jpg" width="1200" />

Finbar,&nbsp;alongside Singaporean developer&nbsp;Ventrade bought the 5,335 sqm site from the state government for $16 million.

In 2015&nbsp;the local developer Diploma Properties Pty Ltd was chosen as the preferred developer to transform the former Chemistry Centre site, with over&nbsp;200 apartments, dining venues and shops planned. That would have been a 16-level apartment tower with rooftop sky gardens.

The heritage component would have turned in to a laneway-style eat street.

<img alt="" height="1010" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/110_east_st_perth_2.jpg" width="1200" />

Finbar and Ventrade&#39;s plans will see a shared podium on level seven.

There&#39;s a clear intent to create a work-from home space following the border restrictions and reduced appetite to return to the office.

The development will have a business lounge with consult room, board room,&nbsp;and over 10 study pods.

<img alt="" height="850" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/finbar_east_perth.jpg" width="1200" />

Resident amenity will feature a landscaped deck, cinema, resident dining and bar, virtual golf simulator, meditation&nbsp;yoga room, a child play centre, activity games room, and two swimming pools.

The taller tour will also have a rooftop sky bar and gym.

Summary by the strategic planning, urban design firm Element Advisory

The proposed development presents an exciting opportunity to deliver a contemporary redevelopment of the subject site that accords with DWA&rsquo;s established vision for the area through the provision of:

&bull; A well designed, sustainable development that offers an outstanding level of amenity to residents and visitors, and respects and celebrates the cultural heritage significance of the subject site;

&bull; An activated, human scaled edge, through a suitably screened podium with slender residential towers above;

&bull; Extensive landscaping and pedestrian zones at the ground floor level, offering a high level of amenity for pedestrians and designed to celebrate the cultural heritage significance of the subject site;

&bull; A density and diversity of land use that will contribute to the critical mass of people required to activate the subject site and surrounds; and

&bull; Increased housing choice in the locality, complemented by a range of ground floor commercial tenancies that will offer employment and leisure options for a diverse range of people

Given the vast 5,335 sqm site, Finbar are also building another 38-level tower alongside. Combined the development will have 331 apartments

Finbar set for 331 apartments on East Perth's Queens Gardens

<html><body>
<div class="heading">
The heritage-listed former East Perth Power Station is set to be transformed into “an iconic mixed-use waterfront precinct,” following the WA government’s announcement of the preferred proponents to develop the site. 
</div>
<div class="content">
<div id="project">
Australian Capital Equity, the private investment arm of broadcaster Kerry Stokes and Minderoo Group, backed by mining magnate Andrew Forrest, were chosen from a shortlist of five proponents from a competitive process.
Located on the Swan River, the 8.5-hectare site will be transformed into a new residential, commercial, recreational and tourism precinct in the first stage of development over the next four years. Kerry Hill Architects has prepared concept designs for the proposed $218 million development.
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<source data-srcset="https://media5.architecturemedia.net/site_media/media/cache/e4/ed/e4edfed15f44908574579ec5481ba66a.webp" type="image/webp" srcset="https://media5.architecturemedia.net/site_media/media/cache/e4/ed/e4edfed15f44908574579ec5481ba66a.webp"></source><img class="['full'] full lazyloaded" src="https://media2.architecturemedia.net/site_media/media/cache/23/88/238841d37b6e88af7e3c37a8f19df502.jpg" alt="Concept design for the transformation of the former East Perth Power Station by Kerry Hill Architects." width="728" height="485" data-src="https://media2.architecturemedia.net/site_media/media/cache/23/88/238841d37b6e88af7e3c37a8f19df502.jpg">
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<div class="image has-slide" data-imgid="131528" data-sr="files/image_upload_2018-2019/epps_191216_03-interior.jpg">Concept design for the transformation of the former East Perth Power Station by Kerry Hill Architects. </div>
The project will also include a variety of public spaces and a “living gallery” experience to showcase Aboriginal art as well as the state’s mining and resources industry.
The former East Perth Power Station occupies land that is significant to the local Whadjuk Noongar people. The state government says the traditional owners will be engaged with through Development WA’s Kaart Koort Waarnginy (Head Heart Talking) Framework. The development will also be named “Koomba Kalark,” which translates to “the place of the big fire.”
The development will also complement the nearby <a href="https://architectureau.com/articles/optus-stadium/" target="_blank">Optus Stadium</a> designed by Hassell, Cox and HKS and <a href="https://architectureau.com/articles/first-walk-completed-across-perths-matagarup-bridge/" target="_blank">Matagarup Bridge</a> by Denton Corker Marshall. 
WA premier Mark McGowan said, “This announcement marks a significant milestone in the revitalization of one of our iconic landmarks, the old East Perth Power Station. This kind of project has been talked about for years, and now it’s finally coming to fruition.”
The government has chipped in $50 million to prepare the site for development.
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<source data-srcset="https://media5.architecturemedia.net/site_media/media/cache/e6/25/e625d2c8028f2ad9722a1b4ef34b0e52.webp" type="image/webp" srcset="https://media5.architecturemedia.net/site_media/media/cache/e6/25/e625d2c8028f2ad9722a1b4ef34b0e52.webp"></source><img class="['full'] full lazyloaded" src="https://media3.architecturemedia.net/site_media/media/cache/56/23/5623b969cf59f90b8a00f7ef8d94a3da.jpg" alt="Concept design for the transformation of the former East Perth Power Station by Kerry Hill Architects." width="728" height="437" data-src="https://media3.architecturemedia.net/site_media/media/cache/56/23/5623b969cf59f90b8a00f7ef8d94a3da.jpg">
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<div class="image has-slide" data-imgid="131527" data-sr="files/image_upload_2018-2019/epps_191216_04-exterior.jpg">Concept design for the transformation of the former East Perth Power Station by Kerry Hill Architects.</div>
The East Perth Power Station has had a more than 100-year history and is one of the WA’s most significant industrial sites. It was constructed in 1916 and remained in continuous operation until 1968. 
According the state heritage register, “the place is rare as a large-scale thermal power station retaining its plant and equipment, constructed prior to the end of World War One, being one of only two such places in Australia.” 
It is also “a good example of a complex of utilitarian industrial structures, featuring distinctive interior spatial quality in the station turbine rooms with some Art Deco detailing.” 
In February 2008, the then Labor state government announced plans to transform the site into a $500 million museum, similar to the Powerhouse Museum in Sydney and Tate Modern in London. Later that year following the state election the new government led by Liberal premier Colin Barnett abandoned the plan and instead chose to build a <a href="https://architectureau.com/articles/hassell-and-oma-blend-old-and-new-in-new-wa-museum/" target="_blank">new museum</a> at the site of the existing WA Museum in Northbridge.
In 2015, the state government sought expressions of interest to develop the site into “an iconic, mixed-use waterfront destination.”
A number of proposals emerged, including proposals to turn the former power station into a farmers market, a World Trade Centre as well as Hassell-designed concept to create an art gallery and performance hall. That design, inspired by the jagged cliffs of the WA coastline, sought to create a building of rotating and shifting plank. Hassell received an award from the Chicago Athenaeum Museum of Architecture and Design <a href="https://architectureau.com/articles/australian-projects-win-at-2016-international-architecture-awards/" target="_blank">in 2016</a> for the unbuilt project.
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Concept designs unveiled for East Perth Power Station transformation

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There are certainly opportunities in the current 2019 market to pay less than the last price.
But is there really such a thing as buying a bargain when it comes to property? And where are they?
This series of articles looks are specific examples of sale price or asking price falling. 
We take a look at where and if possible why this is happening.  
We came across this property for consideration.
<img src="https://www.urban.com.au/images/2019/6/22/East%20Perth%20bargain%202.JPG" alt="">
A one bedroom, one bathroom East Perth apartment has sold for $275,000, some $145,000 less than its $410,000 off the plan sale in 2012.
The apartment at <a href="https://www.realestate.com.au/property-apartment-wa-east+perth-130312474" target="_blank">13/35 Wellington Street</a> in the 2015 built VIBE complex initially sought $315,000 before its asking price was reduced to $299,000.
According to CoreLogic data, the change in East Perth's median price over the past 5 years is -23.7%.
The 2nd floor apartment has parkland views as well as access to a lap pool, BBQ area, modern gym facilities and a roof top theatre with panoramic city views.
Minutes from the CBD, it is within walking distance of Claisebrook Cove, Crown Casino and Optus Stadium
Josh and Sean Roberts of Realmark secured the sale after two months.
The unlucky vendors sought to flip the apartment on its completion, listing it unsuccessfully in 2015 asking offers from $449,000.
It is up to you to determine if the offering is a truly beneficial bargain.
Remember buying at the bottom of the cycle is fraught – as you can't really precisely pick the bottom nor know just how long until you see some price growth.
Be aware you could be buying a poor quality property in an area with ongoing issues of oversupply of stock.
The oversupply could be also putting downward pressure on rents.
Other price declines could be because the vendor needs a quick sale or paid way over the top on its last purchase chase.
Property Observer suggests property purchasing really does need to be a very well considered proposition with a long term mindset.
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Bargain property in East Perth? Near new apartment makes $150,000 loss 

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A one bedroom, one bathroom East Perth apartment has been listed by its mortgagee.
Featuring 51 square metres of internal living space, the apartment is in the VIBE complex.
Josh Roberts of Realmark Central holds the listing.
Situated at <a href="https://www.realestate.com.au/property-apartment-wa-east+perth-130312474" target="_blank">13/35 Wellington Street</a> the apartment has 19 square metres of balcony space.
Built in 2015, the apartment has a price guide of $315,000.
It first traded in 2012 at $410,000.
Located on the second floor the unit features parkland views, open plan living and a modern kitchen.
The apartment failed to sell after 450 days on the market in 2015/2016 with a price guide of $439,000-$459,000.
<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/east-perth-wa-6004">East Perth</a> is $875,000, according to CoreLogic, which calculate its annual change in median price over the past 10 years as -0.1%.
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East Perth apartment in VIBE complex listed at $95,000 reduction by mortgagee

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Situated in the Cosmopolitan apartment complex, an East Perth two bedroom apartment has been sold by mortgagees for $368,000 earlier this month. 
The 2nd-floor apartment was sold by Peter Andersen and Peter Wildermoth from Avenue One Property Group.
<a href="https://www.realestate.com.au/sold/property-apartment-wa-east+perth-126844298">Positioned at 9/259-269 Hay Street</a>, in the heart of East Perth, the Western Australian home comes with two bedrooms, open plan living and dining area, a generous balcony, lock up storage room and a secure car bay. 
It also features pool, gym, sauna and shared common areas.
It last sold at $275,000 in 2003.
Queens Garden, WACA ground, shopping &amp; cafés are within short walking distance. 
The suburb's median unit price sits at $465,000, according to CoreLogic.
 
 
 
 
 
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East Perth two bedroom apartment sold by mortgagee

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A Ray White Perth real estate agent is holding a 24-hour open home this weekend at not one but three multi-million dollar apartments - simultaneously.
The marathon open home even will kick off at 2pm Saturday and is being hosted by Brent Compton.
The <a href="https://www.propertyobserver.com.au/https://raywhitecityresidentialperth.com.au/properties/residential-for-sale/wa/east-perth-6004/apartment/1607630" target="_blank">11 Brown Street</a> units in East Perth are new waterfront apartments.
The apartments range from $6.25 million to $8.5 million. Features include three king size bedrooms, 3 metre high ceilings, home cinema, wine cellar and custom built home office. 
<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/2017/10/11/PerthFHB2.jpg" alt="">
“I am definitely the first Ray White agent to do this in Western Australia,” Compton said. 
He says he has 16 years of real estate experience.
<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/2017/10/11/PerthFHB2.jpg" alt="">
“I must say that I have never fallen asleep during an open home yet but I cannot promise that record will still stand after the weekend,” he said.
“I’ve got a wonderful team behind me who will bring me food, coffee and Red Bull. I might even talk to Daniel Riccardo about a Red Bull sponsorship.”
Compton is expecting his creative marketing will add interest.
“The properties we are doing this for are unbelieveable. These apartments are all FIRB approved and start from $6.25 million,” he said.
“Mardalup is the most extraordinary riverside development ever to be built in Perth. These apartments are all over 500 square metres which is bigger than the block that my own house is on.”
There are five palatial residences in this development which showcases world class interiors by Maria Monaco.
The apartments look across to the soon-to-be opened, new 60,000 seat Perth stadium, plus take in views of the new 6 star Crown Towers resort. 
In 2018, East Perth will be connected with the new stadium and casino by a suspension footbridge.
“We have three waterfront apartments available, each unique in colour scheme, but all equally spectacular and appealing to any astute buyer looking for long term growth and absolute comfort in an irreplaceable waters edge location,” Compton said.
“Everyone is welcome. I don’t mind if someone doesn’t have millions of dollars to spend. I’d still be very happy to show them through and to have a chat.
“The 24 hr open home allows for zero excuses for any serious potential buyers to come through. You could set off from Broome at the start of the open home and still make it in time to view to apartments.”
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