Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

Erskineville

Sydney developer Coronation Property is continuing to bulk up its residential apartment pipeline.

Following its $200 million Chatswood apartment site purchase, the developer has secured a 50,000 sqm site as part of the future stages of the Park Sydney project, currently being developed by Greenland Golden Horse.

Coronation will bring over 1,000 apartments to the sites at 56 Ashmore Street and 165-175 Mitchell Road in Erskineville, with&nbsp;a mix of build-to-rent and build-to-sell apartments, as well as 5,000 sqm of retail.

The site is one of the last and largest unencumbered freehold parcels of land in the City of Sydney, and is located just four kilometres from the Sydney CBD.

Coronation intends to progress site plans with the City of Sydney imminently which will include&nbsp;a supermarket, as well as a highly curated selection of specialty boutique stores, caf&eacute;s, restaurants, green spaces, and pedestrian pathways.

Having recently purchased a mixed-use residential site in Chatswood, the acquisition of Erskineville further solidifies Coronation&rsquo;s robust development pipeline and strategic focus to increase its residential footprint within a 10km radius of Sydney&rsquo;s CBD.

Coronation Project Managing Director Joseph Nahas said&nbsp;the acquisition of the Erskineville site aligns with Coronation&rsquo;s strategy to secure well-located sites in established and high-performing markets.

&ldquo;As a company, we are dedicated to transformative placemaking and delivering aspirational developments that serve both residents and the wider community through elevated design and well curated spaces. We look forward to bringing a fresh perspective and our innovative take on urban renewal to Erskineville,&rdquo;&nbsp;Nahas said.

&ldquo;We are excited to add to the existing fabric of this vibrant and leafy village. We believe strongly in the power of landscape as a neighbourhood connecter, and we intend to embrace and incorporate the areas&rsquo; natural surrounds into the development.

&ldquo;The former industrial site is in an incredible location on the fringe of the rapidly transforming precincts of Alexandria and Waterloo, and is also close to Sydney Park, which is one of the city&rsquo;s most loved green spaces.

&quot;We expect that our focus on delivering quality design, and premium amenity at Erskineville, along with its prime location, proximity to Sydney CBD, parks and other key infrastructure, will elevate the living experience of our residents.&rdquo;

The site is one of the last and largest unencumbered freehold parcels of land in the City of Sydney, and is located just four kilometres from the Sydney CBD

Coronation Property plan over 1,000 apartments at newly acquired Park Sydney, Erskineville site

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Astute property investors are recognising the potential of the City of Sydney, with its numerous amenities, leading universities and great employment opportunities.

New apartments with modern designs, developed close to the CBD, are drawing quality tenants.

Throughout the inner-city council region, each suburb boasts its own unique character and identity, from period properties, art deco to modern industrial.

Ever-strengthening infrastructure in the area includes the soon-to-be-completed Sydney Metro City and South-West, which will result in trains running every two minutes.

According to SQM Research, gross rental yields for all units currently sits at 3.5 per cent, the best performing rental type in the area.

For those who wish to capitalise on great cafés and restaurant, and good transport, the Sydney Council might be the ideal new LGA to call home.

Urban takes a look at four new apartments located within the council area, starting from $592,800.

1. Castle Residences, Sydney 
Address: 203 Castlereagh Street, Sydney NSW 2000 
One-bedroom apartments from $1,230,000

[smartcode_project:default project_id=7758]

Developed by United Development Sydney, the highly anticipated Castle Residences is set to offer 131 apartments just off Hyde Park.

The project merges high-end apartments with five-star luxury hotel services and amenities, with construction including the refurbishment of the 142-year-old heritage-listed Porter House building.

The mixed-use development is being designed by Candalepas Associates, with amenities including luxurious dining areas, private dining spaces and in-residence catering. Manhattan-style apartments overlook Australia’s oldest park and timeless sculptural alcoves and arches bring together historical and contemporary architecture.

2. The Laneways, Rosebery 
Address: 33-37 Mentmore Avenue, Rosebery NSW 2018 
One-bedroom apartments from $592,800

[smartcode_project:default project_id=24323]

The Laneways, a collection of four five-storey apartment buildings is Rosebery’s “exciting new address.”

Delivered by Ellerson Property, the project will offer private balconies, green courtyards and a rooftop terrace to socialise with friends and neighbours while enjoying the panoramic city vistas.

Located in one of Sydney’s coolest neighbourhoods, homebuyers will appreciate the project’s entertainers’ kitchen, floor-to-ceiling windows and soft-close cabinetry.

3. Park Sydney, Erskineville 
Address: 149-163 Mitchell Road, Erskineville NSW 2043 
Two-bedroom apartments from $1,159,000

[smartcode_project:default project_id=5811]

As the most significant new development in Sydney, Park Sydney is an exciting opportunity for investors and will create a new local for Erskineville.

Delivered by GH Australia, the project is set over 6.9-hectares, centred around a 7,400sqm park.

The project’s first buildings are named after two of Australia’s national parks, Botany and Cascade, and are designed by WMK Architecture.

Spread across nine buildings, ranging between two and eight stories, the apartments will deliver spacious and light-filled residences.

The precinct will include barbeque facilities, amphitheatres, walkways and cycleways into the city.

4. Eminence, Zetland 
Address: 811 Elizabeth Street, Zetland NSW 2017 
One-bedroom apartments from $745,000

[smartcode_project:default project_id=21882]

Offering a remarkable boutique trio of buildings, Mirvac’s 254-apartment Eminence project commands four street frontages between Green Square and the CBD.

The development offers onsite retail, 1,840 sqm of lush podium gardens and a 75-place childcare centre.

Designed by DKO Architecture, the property showcases high-quality finishes and fixtures, and carefully curated residences.

Some apartments include their own private rooftop terraces and others with uninterrupted CBD and Botany Bay views.

The adjacent Gunyama Park Aquatic and Recreation Centre includes beach-inspired pools, open-air training facilities and playgrounds.
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New apartments with modern designs, developed close to the CBD, are drawing quality tenants

max.kwok_55688

Four new apartments in the City of Sydney from $592,800 

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90 per cent of stage one sell-out at newly completed Erskineville’s Park Sydney as residents move in.
Stage one of the joint venture by Greenland Australia and GH Australia launched last week with the developers confirming that over 297 residences in the 330-apartment project have sold to date.
A limited mix of apartments remain available in Botany and Cascade, two eight-storey buildings at on the corner of Mitchell Road and Ashmore Street.
<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/2020/NOV/23/Park%20Sydney%204.jpg" alt="">
Designed by WMK Architecture and Alexander &amp; CO, residences in Botany and Cascade offer large sliding doors, natural timber finishes and high ceilings.
The timber composite panels express verticality, the project’s marketing reads, with angled feature balconies and concrete slabs offering exteriors with a strong sense of character.
Upon completion of the project’s additional stages, Park Sydney is expected to comprise approximately 1,400 apartments.
<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/2020/NOV/23/Park%202.jpg" alt="">
Park Sydney is one of Sydney’s largest urban renewal projects, with stage one including the development of 5,000sqm of retail, including 1,600sqm Woolworths Metro, plus future food, beverage and lifestyle retail.
“Park Sydney’s first stage is an indicator of what is to come for this new community, which will revitalise this part of Erskineville and eventually provide homes for nearly 3,000 people”, said Greenland’s managing director, Sherwood Luo.
Once the project’s future stages have been completed, Park Sydney will offer 10,000sqm of retail amenities.
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j.ballantyne1990-6AQqhLzZaK

90 per cent of stage one sold at the newly completed Erskineville’s Park Sydney

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The controversial apartments in the Erskineville developer Sugarcube have nearly sold out.

The $46.5 million project on the corner of Metters and Pearl Street came under controversy in 2018 following a dispute between the City of Sydney and the developers that locked owners from their apartments. 

Despite completed construction, the City of Sydney was refusing to allow owners to move into their new homes over concerns that the land below the tower was contaminated.

This September, the council approved a modification application that allowed residents to occupy the site in stages, with stage one for apartments. 

[smartcode_project:default project_id=21882]

The modification includes adopting environmental management plans for the apartments and the surrounding road areas, according to the City of Sydney’s website. 

Golden Rain says they have completed 30 projects across Asia, but Sugarcube remains its only Sydney project. 

Set in the old Ashmore industrial precinct at 1 Metters Street, the residence offers a collection of 109 one and two bedroom apartments. 

Designed by DKO architects, Sugarcube offers open-plan living, city views and a landscaped rooftop garden. 

Pricing for the residences begin at $689,000. 
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jrobinson-rf4aSBido9

Controversial Sugarcube Aparments in Erskineville near sell out

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Greenland Australia have confirmed Woolworths Metro will be the anchor tenant in Stage 1 of mixed-use residential development Park Sydney in the inner-west suburb of Erskineville. 
Woolworths Metro will form part of the Stage 1 retail centre, which will occupy the ground level of Park Sydney’s Cascade building, due for completion in mid to late-2020.
The retail centre will also feature a childcare facility plus food, beverage and lifestyle retail, with about 70 basement parking spaces.
Greenland Australia’s Managing Director, Sherwood Luo, said the Woolworths Metro is ideal for delivering the vibrant retail mix required for Park Sydney. 
“Park Sydney will be a unique integrated community with Stage 1 including 330 apartments and the Woolworths Metro that will cater perfectly to its residents and those in the surrounding area,” he explained.  
Park Sydney Village will offer in the order of 10,000 square metres of retail amenity.
It includes a 4,000 square metre full-range supermarket as part of a future stage, 1,000 square metres of specialty shops, multiple lifestyle and food, beverage and dining experiences, with Stage 1 including 1,650 square metres of convenience retail, as well as a childcare and medical centre.  
The site will also offer secure underground customer parking in both Stage 1 and 2.
There will be an alfresco outdoor dining space overlooking the adjacent 7,450 square metre parkland. 
Greenland Golden Horse is also looking forward to announcing the operator of the childcare centre within Stage 1 soon.
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Park Sydney development in Erskineville announces anchor tenant Woolworths Metro

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The would-be residents of Sugarcane and Honeycomb, the uninhabitable Erskineville residential complexes built on possibly toxic land, likely face more months of being unable to access their dwellings.
The City of Sydney Council has concerns about the Chinese-backed developer, Golden Rain Development not meeting the required remediation conditions.
Buyers were told on their purchase to expect an April 2018 move-in date.
In February 2015 timeline expectations were as follows:
<ul>
<li>Demolition of existing industrial buildings on the site</li>
<li>Removal of trees</li>
<li>Construction of a multi-level apartment building with a two-level basement on the southern portion of the site (Sugarcube apartments)</li>
<li>Construction of 18, three-bedroom terrace development on the north portion of the site (Honeycombe Terraces)</li>
<li>Construction of new roads, pedestrian links and public domain works to be dedicated to Council</li>
</ul>
There are ongoing fears of contaminated groundwater on the former Monier roofing tiles site which had residue heavy metals, hydrocarbons and asbestos from its days as an industrial suburb.
Sydney Council confirmed that no final site contamination audit statement had been lodged.
"A private certifier issued the construction certificate to allow construction to proceed on the site despite not having received the final site audit statement," a SCC spokesperson said.
"City staff have been in ongoing discussions with the developer, who has not complied with the development consent conditions concerning remediation of the site."
It advised the developer has since provided further test results of the contaminants on the site and an assessment of the risk.
"Council is currently reviewing this material and is likely to seek some further information from the developer."
A spokesperson for Golden Rain Development said they "understood the delays have caused frustration."
It claimed the delays are due to requests by the City of Sydney relating to testing of groundwater near access roads and pedestrian walkways on the site.
"As Council will take ownership of these roads and walkways, it has asked for the additional testing before the final occupation certificate can be issued for the development."
"Golden Rain Development will continue to work with the City of Sydney to ensure Council is satisfied the site meets all health and safety requirements, and apartment owners can begin enjoying their new homes as soon as possible," the spokesperson said.
The City of Sydney approval came with a required $736,000 by the developer for a walkway.
The projects are within the Ashmore Precinct, one of the City of Sydney's biggest urban growth precincts.
The 17 hectare site, bounded by Ashmore Street, Mitchell Road, Coulson Street and the Bankstown railway line, is expected to have 6,000 residents by 2025.
A Sydney contamination auditor expects there will be a "long delay" for residents in getting into the upmarket projects where studio prices fetched $550,000 plus.
Industry experts have questioned how the project construction began without the necessary documentation in place.
"How did this build ever start in the first place?" a conveyancer said.
In NSW the management of contaminated land is “shared” by the Environment Protection Authority, the state Department of Planning and Environment and local councils.
Both projects were a finalist in "excellence in marketing" at the 2016 UDIA Awards.
The selling estate agents Colliers International declined to advise on the status of the sales contracts secured between 2015 and 2016, along with when the strata plan would be registered.
"All enquiries should be referred to Golden Rain Development," Colliers residential managing director Peter Chittenden said.
It is understood that some buyers have sought to terminate the sales contract and receive a refund of their deposit.
Nearby resales in other unaffected complex have shown no price growth over the past three years.
Golden Rain's ultimate owner is based in the British Virgin Islands.
One local director is 54 year old Bernard Chi, who has a 34th floor Bathurst Street, Sydney apartment. Another associated director is 55 year old Anne Bi, from West Pennant Hills.
The other directors give Hong Kong addresses.
A $1 million Sugarcube buyer Nick Rehac said he was "not allowed to stay here."
"We have no power," he told reporters as he stood in front of a fence preventing him to access the building.
"They took the money."
This article was first published in the Saturday Daily Telegraph.
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jchancellor-FAypfDUnLy

Honeycomb and Sugarcube residents to wait on contaminant tests

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An Erskineville apartment that neighbours the Sugarcane project sold at weekend auction for $1.35 million, some $200,000 over reserve price.
The Sugarcane Erskineville apartment development are empty more than one year after its completion because of concerns over potential toxic contamination.
<div class="in-content-ad">The revelations rocked Sydney’s property market last Friday, and some buyers pulled out because of the news.</div>
<div class="in-content-ad"> </div>
<div class="in-content-ad">But the Erko apartment offering which were developed by different developer and builders, saw competitive bidding.</div>
Nine Entertainment reported the successful buyer was unperturbed by fears of the potential toxic contamination from the adjacent development.
Infact they hoped it would "scare" off other buyers.
Some 13 parties registered to bid on <a href="https://www.realestate.com.au/property-apartment-nsw-erskineville-131394366" target="_blank">410/1 Pearl Street</a>.
Last sold for $855,000 in 2013, the two-bedroom apartment was built in 2014 and developed by Leighton Properties.
It was sold by Service First Property Group agent Oliver Quach.
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Nothing toxic about weekend Erskineville auction result

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Do off the plan apartment marketing agents have any responsibilities after the signed contract? And how accountable do they see themselves when things go awfully wrong?
I was wondering what role the selling agents at <a href="/news/otp-sugarcube-honeycomb-erskineville-buyers-locked-out-after-contaminants-fears">the potentially still toxic Erskineville projects, the 109 Sugarcane apartments and the 18 Honeycomb terraces</a> felt that they had three or four years after they secured the sale for the Chinese developer Golden Rain Developments.
It was front page news in Sydney on Friday, followed by extensive website coverage throughout the morning and then on the Friday night television news.
The poor OTP buyers are in limbo, locked out of the completed residences after a dispute between developer and Sydney City Council over the potential toxicity of the former industrial site. The issue appears to be related to contaminated water run off, especially to and from the public land, rather than the earlier feared gas vapour issues in the car park basement.
The developer engaged Ray White Projects and Colliers International to sell their project quite a few years ago. It was a sellout.
The earliest Colliers marketing advised an anticipated early 2017 completion, then it was subsequently advised as April 2018.
Some 15 months further along, not one intending owner occupier resident has moved in, nor investor able to rent the residence out.
This extended period of limbo sees their deposits sitting there, awaiting final settlements, with their lenders no doubt cautiously wondering what impact the toxin turmoil, even satisfactorily resolved, ought have on their valuations.
The strata plan awaits registration.
A truly dreadful situation for every buyer.
Ray White Erskineville Projects advised they had marketed the 18 off the plan terraces in Honeycomb development in good faith as per the vendor’s instructions.
"When Ray White Erskineville Projects became aware that technical compliance issues had arisen between council and the developer over occupancy, we communicated to all purchasers any information that had been provided to us," it said in a statement issued within 90 minutes of the request.
"Ray White Erskineville Projects empathises with the challenges this situation presents to both the developer and the purchasers of these properties and is keen to see the resolution of any outstanding matters so the properties are able to settle," Ray White advised.
Colliers, headed by Peter Chittenden, took another course altogether.
"As Colliers were engaged as project marketing agents for this development, all enquiries should be referred to Golden Rain Development," it advised News Ltd's Daily Telegraph much later in the day.
The Sydney Morning Herald reported Colliers directed inquiries to Ray White.
It was March 2015 when Colliers kicked off the marketing in Domain with studio prices from $550,000, and the advisory that the projects were due for completion early 2017.
In August 2015 Domain updated readers in an article on pet friendly projects with the same early 2017 completion date advisory, and Colliers pricing for the one-beds from $645,000, two-beds from $870,000 that remained for sale off the plan.
Chittenden's linked-in ranks Sugarcube among his "successful projects."
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Golden Rain Development has completed 30 projects across Asia with the Erskineville development promoted as its “flagship project” in Sydney. They boasted the residences are amongst the most desirable ever to grace Erskineville's leafy village streets.
Golden Rain Development sent a letter to buyers in April this year, acknowledging delays in the issuing of an occupation certificate.
"An unforseen planning issue is at the heart of the delay," said the letter.
It didn't mention the toxicity issues. Owners described it as "unbelievable" and "shocking" to learn of the contamination issue in the SMH, after desperately pressing for answers for over a year.
One buyer told the SMH they had left "countless messages" with Colliers.
"When I purchased they were saying this was a fantastic developer and well renowned. It's just a horrible scenario to be in."
 
 
 
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How OTP estate agents see their responsibilities after the signed contract?

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Off the plan Sugarcube-Honeycomb, Erskineville buyers have been locked out after contaminants fears.
They join other groups of residents also locked out of their Sydney apartments over safety concerns.
The 127 buyers secured apartments and terraces at Erskineville, in Sydney's inner-west through Ray White Project Sales Division and Colliers International
They were built on an old industrial estate contaminated with heavy metals, hydrocarbons and asbestos.
Sydney Council documents show construction approval for the <a href="http://www.sugarcubehoneycomb.com.au" target="_blank">Sugarcube Apartments and Honeycomb Terraces</a> was contingent on strict conditions for cleaning up the land and groundwater, involving accredited auditors.
The council said the buildings cannot be occupied because the developer did not comply with the conditions.
<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/2019/7/19/Sugarcube-Honeycomb%20Erskineville%202.jpg" alt="">
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A City of Sydney spokesperson said the developer had “not complied with the development consent conditions concerning the remediation of the site”.
</div>
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The city was in “ongoing discussions” seeking a resolution with the developer, Golden Rain Development Pty Ltd.
“We understand this is a most frustrating situation for all terrace and apartment owners,” the City of Sydney spokesperson said.
</div>
The 109 Sugarcane apartments, and 18 Honeycomb terraces were built at the old Ashmore industrial estate.
When nearing completion pricing in Sugarcube was 1 bedroom for $665,000 with 2 bedrooms for $1,020,000 – $1,060,000.
The Sugarcane apartments were designed by DKO and built by Hamilton Marino.
The Metters Street and Coulson Street, Erskineville development was marketed as set to be ready to occupy in April 2018.
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Golden Rain Development has completed 30 projects across Asia with the Erskineville development promoted as its “flagship project” in Sydney.
</div>
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The buyers have taken to the City of Sydney’s social media pages to vent their frustrations about the “never-ending saga”.
Last week it was revealed that 30 loft-style apartments at 19 Gadigal Avenue in Zetland were <a href="/news/garland-lofts-zetland-apartment-block-in-secret-evacuation-last-year-due-to-building-defects">abandoned nine months ago</a> over severe water and fire safety defects.
Cracking also forced the evacuation of <a href="/news/no-definitive-cause-identified-but-opal-tower-is-structurally-sound-but-needs-significant-rectification">Sydney Olympic Park’s Opal Tower</a> on Christmas Eve last year and the <a href="/news/mascot-towers-residents-await-causes-of-cracking">Mascot Towers on Bourke Street, Mascot</a> last month.
</div>
 
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<h3> </h3>
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OTP Sugarcube-Honeycomb, Erskineville buyers locked out after contaminants fears

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A two bedroom Erskineville apartment recently sold at auction for $875,000.
It was listed with a price guide of $850,000 and last traded for $550,000 in October 2009.
 <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/2018/11/26/erskineville%201.jpg" alt="" style="font-size: 12.16px;">
Situated at <a href="https://www.realestate.com.au/property-apartment-nsw-erskineville-129712586" target="_blank">17/612 King Street, Erskineville</a>, the 125 square metre unit comes with two bedrooms with BIRs, open plan living area opening to balcony, gourmet large kitchen and security parking.
Additional features include ample storage, security intercom, internal laundry and visitor parking.
The building is located on the edge of Erskineville and Newtown and near cafes, restaurants, shops and Dendy Cinemas.
It was listed through Silvia Vitale of Laing+Simmons Potts Point.
<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/2018/11/26/erskineville%202.jpg" alt=""> 
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