One of North Sydney's best-known commercial buildings could become hundreds of new homes, with insurance giant Zurich Australia lodging a State Significant Development Application (SSDA) to transform 5 Blue Street into a mixed-use residential development above North Sydney Station.

Rather than demolishing the existing building and starting again, Zurich is proposing an adaptive reuse project that would convert the landmark office building into a 15-level residential development delivering 62 apartments, 86 affordable co-living dwellings, activated retail and significant upgrades to the Blue Street Plaza.

The proposal reflects a growing trend of commercial property owners repositioning ageing office assets into residential housing as Sydney grapples with housing supply shortages and changing workplace demand.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="0bba7d12-06dc-4375-aad7-238c94b21ac5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.42.05%E2%80%AFAM.png?VersionId=NJl5oLAEBDGuPmY3RnyliKODjMc8lvRh" />

Located directly above North Sydney Metro and train station, the 3,051 sqm site occupies one of the most strategically positioned parcels of land on Sydney's Lower North Shore.

Designed by fjcstudio, the proposal seeks to retain and adapt much of the existing structure while creating a contemporary residential address that better connects with the public domain surrounding North Sydney Station.

The application proposes two basement levels, ground floor retail, affordable co-living accommodation across the podium levels, and apartments above, while preserving and enhancing the publicly accessible Blue Street Plaza.

Rather than pursuing maximum apartment numbers, Zurich has opted for a housing mix heavily weighted towards larger owner-occupier residences.

The proposal includes 62 build-to-sell apartments comprising 12 one-bedroom, 19 two-bedroom, 29 three-bedroom apartments and two premium penthouses. It also incorporates 86 affordable co-living dwellings, which would be managed in perpetuity by a Community Housing Provider.

That balance between traditional apartments and affordable housing reflects the NSW Government's push to increase housing diversity around major transport infrastructure.

The proposal has been lodged concurrently with a rezoning application, with Zurich arguing the site is ideally positioned to support additional housing given its immediate proximity to public transport, employment and services.

"The proposal aims to respond to the housing challenges facing Sydney through the delivery of diverse housing types in a highly accessible location," the design report by fjcstudio states. It also seeks to improve pedestrian amenity through upgrades to Blue Street Plaza while creating a high-performing residential building that responds to the surrounding context.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="36082e15-c636-4481-bb68-5a5f6443fe39" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.41.36%E2%80%AFAM.png?VersionId=5P6VD.fvmqjQfIG3TWWMRXxQWiQBjeFB" />

Rather than replacing the commercial building, fjcstudio has developed a design that works with the existing structural framework above the rail corridor, an approach that significantly reduces demolition while allowing the site to be repositioned as a mixed-use residential precinct.

The existing structural constraints have informed much of the building's design, including its relationship with Blue Street and surrounding public spaces.

The building has been designed as a slender tower rising above a clearly defined podium, with vertically expressed façades intended to reduce the perceived bulk while reinforcing North Sydney's emerging skyline.

According to fjcstudio, the architectural language responds directly to the surrounding commercial towers while maintaining a finer grain expression more closely aligned with the neighbouring Lavender Bay streetscape.

The tower incorporates articulated façade elements, landscaped podium edges and recessed upper levels to soften its appearance and improve pedestrian amenity below.

A significant component of the proposal is the revitalisation of Blue Street Plaza.

The existing public space has long served as one of the primary pedestrian connections between North Sydney Station, Greenwood Plaza and Blue Street, yet its role is expected to become even more important following the opening of Sydney Metro.

Zurich's proposal seeks to strengthen that role by improving landscaping, introducing new retail frontages, enhancing pedestrian permeability and creating more active edges throughout the day and evening.

Ground floor retail would wrap the plaza, while separate residential and co-living entries have been designed to improve wayfinding without reducing street activation.

Landscape design has been integrated throughout the podium and public realm, softening what is currently one of the most heavily urbanised parts of North Sydney.

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fjcstudio has carefully oriented apartments towards Sydney Harbour and the CBD while using privacy blades and articulated façades to minimise overlooking between neighbouring buildings.

Large framed openings along the western elevation maximise harbour outlooks, while the eastern apartments have been angled towards the south-east to improve privacy from neighbouring development.

The project forms part of the continuing transformation of North Sydney from a predominantly commercial CBD into a genuine mixed-use city centre.

Since the completion of Victoria Cross Metro Station, developers have increasingly shifted their attention towards residential projects capable of leveraging the area's unparalleled transport connectivity.

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FiveX recently lodged plans for a 61-storey, 490-apartment tower that would become one of the tallest residential buildings in North Sydney if approved.

Aqualand continues to expand its Lower North Shore presence following the completion of AURA on Walker Street and its recent St Leonards and Roseville proposals.

Developers are also progressing projects throughout Walker Street, Miller Street and the Victoria Cross precinct as demand for well-located owner-occupier apartments continues to strengthen.

Joel Robinson

First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station

Busy developer Aqualand Prestige has formally taken the next step in its expansion across Sydney's Lower North Shore, lodging a State Significant Development Application (SSDA) for its long-held Archer Street site in Chatswood.

The application covers <a href="https://www.apartments.com.au/new-apartments/51-55-archer-street-chatswood-nsw-2067">51-55 Archer Street</a>, a 1,767 sqm amalgamated site on the eastern edge of the Chatswood CBD, where the developer is seeking approval for a 45-level mixed-use tower delivering 114 apartments, including a significant affordable housing component, alongside retail, commercial space and six basement levels of parking.

The SSDA marks the latest milestone for a project Aqualand has been quietly progressing over the past two years. The developer first secured the site for its Aqualand Prestige platform before undertaking an alternative design excellence process with PTW Architects, ultimately avoiding a formal design competition through the Housing Delivery Authority pathway.

The proposal has evolved considerably from Aqualand's original concept. The revised scheme has been designed around larger owner-occupier product, with an unusually high proportion of three and four-bedroom apartments, targeting the more affluent buyer profile, and downsizer, emerging across the North Shore.

<img alt="Archer St" data-entity-type="file" data-entity-uuid="0171204c-5811-41b5-9b09-2335d1b7c3d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%208.52.48%E2%80%AFAM.png?VersionId=6YTuxfq.puZo7k2wbfgemcO5K3QfXYGQ" />

The 114-apartment mix comprises six studios, 27 one-bedroom apartments, 18 two-bedroom apartments, 50 three-bedroom residences and 13 four-bedroom homes. A quarter of the building will be dedicated to affordable housing, well above the mandated 15 per cent&nbsp;

PTW has structured the building vertically, with affordable housing across levels one to six, premium apartments through levels seven to 31, duplex skyhomes on klevels 32 to 43, a penthouse on level 44, and a rooftop plant level above. Six basement levels will provide resident parking and servicing.

The tower is proposed to reach approximately 154 metres, placing it among a growing collection of residential high-rises transforming Chatswood's skyline.

Rather than competing purely on height, PTW says the design has been driven by creating a slimmer tower capable of delivering significantly larger apartments.

"The primary objective of this project was to create a distinctive building that stands out from the recently approved or built structures in the Chatswood area," the design report states, noting the structural efficiency allows greater investment into apartment quality and resident amenity.

Residents would have access to more than 450 sqm of communal open space including landscaped gardens, swimming pool, rooftop entertaining areas, fitness spaces, community gardens, children's play areas and barbecue facilities.

A major focus of the design has been the public domain.

The ground plane has been opened up through landscaped terraces inspired by Willoughby's sandstone ridges, with native planting, public seating, artwork, retail activation and a series of gathering spaces intended to soften what has traditionally been a hard commercial streetscape.

The landscape strategy references Blue Gum forests once common throughout the area, while incorporating Indigenous storytelling, public art and lighting installations to strengthen the connection to Country.

Chatswood has been one of Sydney's busiest apartment markets over the past 12 months, with a steady pipeline of both new project launches and fresh development applications.

Hyecorp recently launched Celine, a 122-apartment development just along Archer Street, while Changfa and Huirong Group are progressing The Anderson, an 84-apartment project on Anderson Street.

Develotek recently secured approval for a 101-apartment tower on Pacific Highway, while Tian An LFD received the green light for Hammond Greens, its apartment development on the edge of the Chatswood Bowling Club.

Commercial property developer FiveX is also making its move into the residential market. Last month it lodged plans for a 61-storey tower with 490 apartments, which, if approved, would become one of the tallest residential buildings in Chatswood.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-targets-chatswood-skyline-with-61-storey-tower-after-north-sydney-plans">First look: FiveX targets Chatswood skyline with 61-storey tower after North Sydney plans</a>

Aqualand is also expanding its development pipeline following the launch of its luxury residential brand, Aqualand Prestige. The developer has delivered a string of high-end apartment projects across Sydney's affluent suburbs over the past decade, most recently AURA by Aqualand on Walker Street in North Sydney.

[smartcode_project:default project_id=30959 project_image_fid=292863]

It has since quietly assembled its next wave of projects.

Earlier this year Aqualand launched Boronia in Roseville, a boutique 111-apartment development on Larkin Street. The project is one of the first significant apartment developments to launch in the suburb ahead of what is expected to become one of Sydney's most active new housing precincts under the NSW Government's Low and Mid-Rise Housing reforms, which allow greater density around train stations.

[smartcode_project:default project_id=152095 project_image_fid=373685]

The developer has also lodged plans for a two-tower, 413-apartment development on Herbert Street in nearby St Leonards, further strengthening its presence across the Lower North Shore.

Beyond that, Aqualand remains behind the final stage of Barangaroo, where plans will deliver a five-hectare mixed-use precinct comprising new homes, retail, hospitality and community facilities, alongside a new Metro entrance and more than two hectares of public open space, completing the Barangaroo precinct.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/central-barangaroo-development-takes-big-step-with-concept-proposal-approval">Central Barangaroo development takes big step with concept proposal approval</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-aqualand-joins-st-leonards-apartment-party">First look: Aqualand joins St Leonards apartment party</a> 
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First look: Aqualand pushes ahead with Chatswood apartment tower as SSDA lodged for Archer Street

Mass timber is becoming an increasingly popular construction material in apartment developments, but Adelaide developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> is taking the approach a step further.

At its new <a href="https://www.apartments.com.au/new-apartments/flowe-bowden-18-gibson-street-bowden-sa-5007">Flowe Bowden</a> development, the exposed cross-laminated timber (CLT) structure isn't just about reducing the building's environmental footprint. It also forms the foundation of a broader wellness strategy, influencing everything from indoor air quality and natural materials to the way residents move through and experience the building.

The 115-apartment mixed-use development, designed by Melbourne-based architecture practice Fieldwork, will occupy a prominent island site opposite Bowden Village Reserve, combining one, two and three-bedroom apartments with retail and a dedicated wellness destination.

[smartcode_project:default project_id=152022 project_image_fid=375528]

Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.

The development has been split into two residential wings connected by a naturally ventilated central breezeway, replacing traditional enclosed corridors with open-air walkways that improve natural light, encourage cross ventilation and create more opportunities for neighbourly interaction.

"Rather than treating wellness as something that only happens on the ground floor, our response integrates it throughout the building, which led us to ask what it really means to design a healthy building," Fieldwork Director Quino Holland said.

[smartcode_project:default project_id=152022 project_image_fid=375531]

The building's architecture also reflects Bowden's industrial heritage. The lower podium references the area's historic brick and sandstone buildings, while the upper levels transition to exposed CLT, allowing the timber structure to become a defining feature throughout the apartments and shared spaces.

The use of mass timber sits alongside a range of sustainability initiatives, including a fully electric, gas-free design, rooftop solar and a targeted 5 Star Green Star rating.

[smartcode_project:default project_id=152022 project_image_fid=375524]

Inside the residences, the focus remains on natural, durable materials. Blackbutt engineered timber flooring, exposed CLT ceilings, porcelain surfaces and warm timber joinery create a calming interior palette, while low-VOC finishes and responsibly sourced materials have been selected to improve indoor air quality.

Kitchens have been designed as the centrepiece of each apartment, featuring porcelain island benchtops, timber-look cabinetry and brushed steel tapware, with layouts that maximise natural light and ventilation.

[smartcode_project:default project_id=152022 project_image_fid=375530]

The more traditional interpretation of wellness comes in the form of Level Eleven, a two-storey wellness club spanning the ground floor, mezzanine and first floor.

The facility will include a gym, yoga and reformer Pilates studios, Finnish and infrared saunas, magnesium hot and cold plunge pools, and dedicated recovery spaces. Unlike many residential wellness facilities, Level Eleven will also operate commercially, allowing the broader Bowden community to access the venue while giving residents exclusive membership benefits.

The ground floor has also been designed around everyday living. A café overlooking Bowden Village Reserve will activate the street frontage, while a bike workshop with tool storage, co-working space and dog wash has been incorporated to support daily routines and encourage interaction between residents.

"Flowe brings together my two biggest passions, creating places and creating healthier lives," Otello founder Daniel Harris said.

"We wanted to create something Adelaide hasn't seen before, a genuinely healthy building, where the way you live is lifted without even trying."

Flowe is positioned directly opposite Bowden Village Reserve and within walking distance of Bowden Railway Station and the Adelaide Entertainment Centre, placing future residents just minutes from the Adelaide CBD while remaining connected to one of the city's most established urban renewal precincts.

[smartcode_project_cta:default project_id=152022]

Otello launches wellness-focused Flowe Bowden with Adelaide-first mass timber apartment design

Not all apartment amenities are immediately visible.

Swimming pools, gyms, rooftop terraces and residents' lounges have long featured on buyers' wishlists, but as the way Australians live has changed, so too have the features that make apartment living more convenient.

Increasingly, buyers are placing value on the practical aspects of day-to-day life. Fast internet, EV charging, secure bike storage, flexible workspaces and parcel management are becoming just as relevant as lifestyle amenities, reflecting changing habits and expectations.

Online shopping has been one of the biggest drivers of that shift.

Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally, making parcel deliveries a routine part of everyday life rather than an occasional convenience.

For apartment residents, however, receiving those deliveries isn't always straightforward.

Without someone home to accept a parcel, deliveries can be redirected to a nearby Post Office, left in building foyers or common areas, or require building management to temporarily store packages. As apartment living continues to grow across Australia's cities, parcel management has become an increasingly important consideration for both residents and developers.

Australia Post's Parcel Locker network is one response to that shift.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/KPZ9j5FRdsQ?si=Qztc1dNP3ZvEIUhb" title="YouTube video player" width="560"></iframe>

Rather than relying on home delivery, eligible parcels can be directed to a nominated Parcel Locker, where they're securely stored until collected. Once a parcel arrives, residents receive a notification through the AusPost app or SMS and can retrieve it using a one-time code or QR code at a time that suits them.

The network has expanded to more than 1,500 locations nationwide, with Parcel Lockers positioned at Post Offices, shopping centres, supermarkets, transport hubs and, increasingly, within or alongside residential developments.

That growing presence reflects a broader change in how apartment buildings are being planned.

Developers are increasingly considering the operational side of apartment living alongside traditional lifestyle amenities. Just as secure mailrooms, bicycle storage and EV charging have become more common inclusions, parcel management is emerging as another feature that supports everyday convenience.

It also helps preserve the arrival experience within a building. Carefully designed lobbies and communal spaces can quickly become cluttered when deliveries accumulate, while secure parcel solutions reduce the likelihood of missed deliveries or parcels being left unattended.

For buyers comparing apartments, these everyday details are becoming part of the decision-making process.

Location, floorplans and finishes remain fundamental, but the features that simplify daily life are carrying greater weight than they once did. As online shopping continues to shape consumer behaviour, secure parcel delivery is increasingly becoming another amenity worth looking for.

Parcel delivery is joining the apartment amenity checklist

Inca Property Group has lodged a State Significant Development Application (SSDA) for Dawn, a 53-apartment oceanfront development overlooking Mona Vale Beach.

The proposal, at 35-39 Darley Street East, would replace an existing 18-apartment strata building with a new owner-occupier-focused development comprising 53 two and three-bedroom apartments, including nine affordable built-to-rent residences delivered under the State's infill affordable housing scheme.

Positioned on a 2,679 sqm elevated site around 280 metres from Mona Vale Beach, the development has been designed to maximise panoramic ocean views while responding to the site's sloping topography.

<a href="https://www.apartments.com.au/developers/inca-property-group">Inca Property Group</a> Managing Director Josh Thompson said the State Significant pathway provided greater certainty for projects of this scale.

"This State Significant pathway gives the team real certainty to progress <a href="https://www.apartments.com.au/new-apartments/dawn-35-39-darley-street-east-mona-vale-nsw-2103">Dawn</a> through to completion," Thompson said.

"It allows us to acquire a one-off site, design it carefully and deliver the right offering for the suburb, assessed by the NSW Government's planning department."

The project is one of the first developments in the area to be assessed under the NSW Government's Low and Mid-Rise Housing policy, with the site sitting on the edge of the policy's designated inner area.

The proposal includes three basement levels providing 124 car spaces, alongside a range of resident amenities including a swimming pool, gym, sauna, wellness facilities and private plunge pools for selected ground-floor and penthouse apartments.

<img alt="Dawn" data-entity-type="file" data-entity-uuid="fc1a1daf-0ce4-4f12-9076-b1fa553c7a91" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-21%20at%208.42.11%E2%80%AFAM.png?VersionId=4GZ9h.gpNkTljbxyAET8Jfhv51XUamDm" />

Thompson said Dawn had been designed specifically for owner-occupiers and downsizers, a buyer profile that has driven demand across Inca's recent Upper North Shore developments.

"The majority of buyers in our recent North Shore projects have been downsizers, and we are learning exactly what this market is looking for. Beyond the location itself, we have included resort-style amenities to deliver a genuine lifestyle offering," Thompson said.

Located within walking distance of Mona Vale Beach, the town centre, Mona Vale Golf Club and the Royal Motor Yacht Club, Dawn represents Inca's first Northern Beaches project following the sell-out of Tara on Park in Waitara and Ellis Residences, currently under construction in St Ives.

Construction will be undertaken by Inca's in-house construction arm, GOP Constructions.

Dawn is the latest major apartment proposal for Mona Vale, with the suburb emerging as one of the key beneficiaries of the NSW Government's new Low and Mid-Rise Housing policy.

New developer One Living, led by industry veteran Joseph Scuderi, recently secured a site on Mona Vale Road, on the border of Mona Vale and Pymble, where it is planning around 140 apartments.

IPM is also planning its third project in Mona Vale, significantly increasing the scale of its previous developments with an 82-apartment proposal at <a href="https://www.apartments.com.au/new-apartments/159-167-darley-street-west-mona-vale-nsw-2103">159-167 Darley Street West</a>, opposite Bayview Golf Course and less than 800 metres from Mona Vale town centre.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/one-living-enters-sydneys-new-apartment-market-with-northern-beaches-site-acquisition">One Living enters Sydney's new apartment market with Northern Beaches site acquisition</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-ipm-plans-third-mona-vale-project">First look: IPM plans third Mona Vale project</a>

First look: Inca eyes Mona Vale with State Significant DA for Dawn apartments

Industry News

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Two women from the world of property were recognised at yesterday's NAB Women's Agenda Leadership Awards.
Sharon Warburton is the executive director of Strategy and Finance, Brookfield Multiplex. She was named Mentor of the Year Awards for her role as a personal mentor to more than 50 young people, and founding online mentorship website <a href="https://www.steelheels.com.au/" target="_blank">Steel Heels</a>.
Anita Mitchell, Lend Lease's general manager of Sustainability-Barangaroo South was a finalist in the category of Emerging Leader in the Private Sector. In her role, she works towards making the development carbon neutral, water positive and zero waste.
For the full list of the winners, <a href="https://www.womensagenda.com.au/nab-womens-agenda-leadership-awards-2015#.VO_kEIWM54v" target="_blank">click here</a>. 
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jrichardson-uRX5hFdKfN

Anita Mitchell and Sharon Warburton recognised at NAB Women's Agenda Leadership Awards

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Savills Australia open its Sydney Chinatown office last week to coincide with the Chinese New Year celebrations.
Located in Dixon Street, the new Chinatown office will showcase a selection of Savills residential listings.
The NSW Premier Mike Baird popped by the celebrations that included the traditional lion dance and firecrackers, to bring good luck and fortune for the year ahead. 
<img src="/images/2015/02/25/chinatown-feb-25-three.jpg" alt="">
NSW Premier Mike Baird (second rear from the right) attends the opening of Savills' Chinatown office opening. Photo supplied.
Declaring the Savills Residential Projects office officially open was Paul McLean, Savills CEO, Australia and New Zealand who hoped the close identification with Chinatown would "make Savills not just an important business presence but a valued community one also.”
“With the growing demand for residential property, both from local and international buyers, we felt there was a need to establish a presence in Chinatown," Ged Rockliff, head of residential projects, Savills Australia said. 
“This also reflects our rapidly changing market and the need to not only focus on local buyers but to service the growing local Chinese community and the wider international market." 
Savills has over 600 offices throughout the Americas, Europe, Asia Pacific, Africa and the Middle East.
The opening comes as the number of Significant Investor Visas granted by the federal government has had 89% of all approvals from China. Hong Kong is the next most popular source country, with 3.5% of visas granted.
Victoria has attracted most of the visas granted, followed by NSW.
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jchancellor-FAypfDUnLy

Savills open Sydney Chinatown office as SIV numbers rise

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Lend Lease has reported a 25.4% profit boost in its half year profit announcement.
Profit was up to $315.6 million, although the property group reported a 9.4% fall in revenue to $5.9 billion. 
Lend Lease has operations in Australia, United States, UK and Asia.
Chief executive Steve McCann advised Australian and UK residential markets had remained strong.
"We increased our residential pre-sold revenue by $2.2 billion, to $3.6 billion, and settlements rose 11% from the prior corresponding period," he said.
In Australia apartment pre-sales increased 195%, including sales for The Yards at Brisbane Showgrounds.
Click to open in new window:
<a href="/images/2015/02/23/ll-feb-23-one.jpg" target="_blank"><img src="/images/2015/02/23/ll-feb-23-one.jpg" alt=""></a>
Source: Lend Lease
The group has about 4000 apartments scheduled for delivery across Australia and the UK.
Strong residential trading conditions saw the property development business deliver profit of $132.6 million. 
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Lend Lease report strong residential sales

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Property group Mirvac's first-half operating profit rose by 15.5% to $230 million.
Its residential division holds $1.3 billion of exchanged pre-sales contracts with some 2,200 lots to be delivered in the full 2015 year.
The report noted adding dwelling activity and housing finance was up in all four major states and "monetary policy continues to be effective".
"Above historical average population growth in NSW and broad-based economic strength supports long pipeline of required dwellings in Sydney," chief executive Susan Lloyd-Hurwitz reported.
Around 73% of its nine new projects totalling 3,350 lots have been across Sydney.
It's residential projects scheduled until 2019 include::
NSW
<ul>
<li>Bondi</li>
<li>Gledswood Hills</li>
<li>Green Square</li>
<li>Googong</li>
<li>Harold Park</li>
<li>Marsden Park</li>
<li>Moorebank</li>
<li>New Brighton</li>
<li>Sydney Olympic Park</li>
<li>Waterloo</li>
</ul>
VIC
<ul>
<li>Cheltenham</li>
<li>Dallas Brook</li>
<li>Donnybook</li>
<li>Eastern Golf Club</li>
<li>Harcrest</li>
<li>Rockbank</li>
<li>Smith’s Lane</li>
<li>Yarra’s Edge</li>
</ul>
QLD
<ul>
<li>Art House</li>
<li>Darien Street</li>
<li>Gainsborough Greens</li>
<li>Waterfront </li>
</ul>
WA
<ul>
<li>Baldivis</li>
<li>Claremont</li>
<li>Meadow Springs</li>
<li>Osprey Waters</li>
<li>West Swan </li>
</ul>
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Mirvac's nine new projects have Sydney emphasis

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Property companies are pouring dollars into this week's Chinese New Year celebrations, particularly in Melbourne.
There, Lend Lease is contributing to Year of the Goat celebrations through Destinations Docklands. Lend Lease puts aside a segment of its budget every year for Destination Docklands, which is tasked to activate the area with community events.
At tomorrow's Victoria Harbour celebrations, there will also be entertainment events including a lion dances, fire crackers, street theatre and a dragon boat exhibition.
Lend Lease is responsible for the development of Docklands' Victoria Harbour precinct.
Central Equity is also sponsoring Chinese New Year festivities. Chinese buyers reportedly make up a large portion of the company's revenue stream. The property developer, which has a range of projects across the Melbourne CBD and inner city – including MelbourneOne and Australis – also has an international real estate agency arm, called MICM.
Central Equity is the principal partner for Destination Melbourne's CBD Chinese New Year celebrations.
No property companies are official sponsors of Sydney's celebrations, though some are hoping to cash in on the festivities. Real estate agency Savills is launching its Sydney Chinatown branch in Haymarket on 20 February, with the invitations (below) displaying a rather regal looking golden goat.
<img src="/images/2015/02/18/invite-feb-18-two.jpg" alt="">
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Property developers back Chinese New Year celebrations

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GUEST OBSERVATION
There is a debate in the world about the use­ful­ness, and alleged obscene amounts of money earned by some pro­fes­sions. We are aware of the fact that real estate agents are not the most trus­ted pro­fes­sions in Aus­tralia.
In 2011 Aus­tralia Reader’s Digest sur­veyed 1000 Reader’s. Here is where we ranked in:
38. Celebrit­ies 39. Sex work­ers 40. Journ­al­ists 41. Taxi drivers 42. Real estate agents 43. Car sales­men 44. Politi­cians 45. Tele-marketers
I can see why the pub­lic has ranked us this way and I’m going to make it my mis­sion to expose the truth and show how rich we really are.
Are real estate agent overpaid?
The truth is that the aver­age real estate agent only makes a mod­est income of $47,457 per anuum. See inde­pend­ent resource Pay­Scale below:
Click to open in new window:
<a href="/images/2015/02/16/jhai%20feb%2017%20one.png" target="_blank"><img src="/images/2015/02/16/jhai%20feb%2017%20one.png" alt=""></a>
There is dif­fer­ence between a real estate agent and a real estate agency which fuels the myth of indi­vidual real <a href="https://www.payscale.com/research/AU/Job=Real_Estate_Agent/Salary" target="_blank" title="Estate Agents earning big money for selling a home. Real Estate Agent Salary (Australia)">estate agents earn­ing big money for selling a home</a>. The indi­vidual agent would only earn a por­tion of the com­mis­sion for each sale with the bal­ance going to his / her agency.
It would be com­mon for an indi­vidual agent to earn on third of the com­mis­sion for the sale and the bal­ance going to the agency he/she is work­ing under.
How many hours real estate agents actu­ally put in?
Just like any self-employed per­son you will need a pas­sion for what you do, a crazy work ethic and have some of the same insec­ur­it­ies as us real estate agents (no work — no pay).
On a reg­u­lar basis many of us work 12 hour days, includ­ing Sundays. We some­times work with cli­ents for two years or more before mak­ing any money out of the rela­tion­ship and some we may still be help­ing three years down the track without hav­ing done any business.
Risk V Reward
How many trades people would do all the prep work and put everything in place to com­plete the job, hav­ing paid for everything needed to get the job to the start­ing line, only to have to wait per­haps weeks, months or years to real­ise any form of pay­ment, if at all? And what if, after all that work and out­lay, the whole thing goes pear-shaped and falls over due to some­thing that the real estate agent can’t control?
If a real estate agent clocked in and out each time they worked on a par­tic­u­lar prop­erty, kept a detailed list of asso­ci­ated expenses and then did the math from the final com­mis­sion paid over the time taken to earn it, the rate would work out to be close to the min­imum dollars per hour as defined by the powers that be, in the major­ity of cases.
I want you to ask your­self this: how many people would work with no retainer, no car allow­ance, and every week­end, some nights, sup­ply your own sta­tion­ery, busi­ness cards etc and you only get paid if you get the results.
Now that’s not to say that some sales don’t cal­cu­late differently
Those homes that are lis­ted and sold quickly after only a short rela­tion­ship are, obvi­ously, far more prof­it­able from that view­point. How­ever, they are the excep­tion, rather than the rule.
Most people take around six to 18 months to sell their home from the moment they get the idea and start check­ing into it until the day the house settles.
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So if you work it out, here is the mega com­mis­sion you think a real estate agent earns for a sale.
The com­mis­sion cut up
Let’s say an even $10,000 for the pur­pose of this exer­cise and we’ll use all the low­est com­mon vari­ables: $10,000 com­mis­sion for six months work (180 days).
Let’s say at three hours per day, three days per week (just for argu­ments sake) = 216 hours = $46.30 / hour (approx).
From that, you need to take the fran­chise fee (if applic­able) at 10% = $41.67 per hour. Then take out the cut that the agency you work for gets — for an aver­age agent, that’s 50% - $20.84 per hour maybe a refer­ral fee. A
t this stage we haven’t even taken the taxes, fuel, car, phone, train­ing and other over­heads out yet.
I don’t see many of us retir­ing to Hawaii any­time soon on those numbers.
The reason agents are paid so much is the risk, how many people would go to work 10–12 hours a day six or seven days and pos­sibly not get paid?
Ser­i­ously think about who would go to work do their job, be on call, get dragged away from their fam­ily and then at end pos­sibly not get paid.
The aver­age agent earns $60-$80k per year work­ing hours that most would have their uni­ons shut down a work­place if they would forced to do, let alone at the risk of not get­ting paid.
Some agents not worth the money
A real estate agent will earn in dir­ect pro­por­tion to the amount of work they put into their job. Yes, there are a large num­ber of agents who aren’t worth put­ting out if they were on fire; that’s why you need to inter­view a few before you decide who to work with.
The Good
Just like any­one that is good at their job they are in high demand.
<ul>
<li>They have meth­ods, know online/offline mar­ket­ing, sys­tems, and a track record of success.</li>
<li>You will see their mar­ket­ing and sign boards every­where on a reg­u­lar basis.</li>
</ul>
Yes, a lot of agents go for price reduc­tions as their only option to sell prop­erty — but not good agents, they know how to do the job prop­erly and they can;
a) Price the home cor­rectly in the first place with a clear proven strategy in mind and
b) Will find the real reason why the prop­erty isn’t selling (put all B.S. to the side); it’s not always because of the price.
I will agree, some agents have egos lar­ger than the known uni­verse; they need some inher­ent belief in their own abil­it­ies to be able to get up each day and be told to ‘rack off’ by the next 40 people they speak to and keep com­ing back for more.
The Aver­age
It’s the old 80/20 rule. 20% of the agents make 80% of the money. A good real estate agent will con­tinue to learn and hone their skills over their career: oth­ers will plod along, last­ing maybe a year in a job they were never suited to but were drawn to by the prom­ise of unlim­ited earn­ing capa­city, total work/life free­dom and other shiny con­cepts that can’t be delivered without massive effort and con­stant hard work.
This is why we have a massive influx of Gen Y’s enter­ing the industry but they are lucky if they make it past the 12 month mark. We also have one of the highest churn rates of new staff and broken dreams as an industry (there is always fresh meet for the grinder in the real estate industry).
<ul>
<li>These agents don’t have a clear plan, meth­ods, they have no idea about online/offline mar­ket­ing, lim­ited sys­tems, and struggle to show a track record of success.</li>
</ul>
<ul>
<li>You will not see their mar­ket­ing and sign boards on a reg­u­lar basis.</li>
</ul>
The bad
When you inter­view these agents they fold eas­ily when you quiz them about their nego­ti­ation abil­it­ies. They will resort quickly to com­mis­sion cut­ting to get your prop­erty listing.
There is an old say­ing “price is only an issue in the absence of value”.
Good agents spend a lot of time and money learn­ing nego­ti­ation so if an agent can­not nego­ti­ate his/her fee what will they do with the price of you home? Hhhmmm. I wonder.
These agents are best char­ac­ter­ised by;
<ul>
<li>No clear method of nego­ti­ation and resort to com­mis­sion cut­ting to sign you up.</li>
<li>Lazy and want to belt the price to below the land value.</li>
<li>Don’t bother with decent sig­nage, then for­get to advert­ise the open house and won­der why no one turns up but use the excuse to say “your price is too high”.</li>
<li>Use of par­tic­u­larly bad pho­to­graphy thus tar­geted by buyer agents on the hunt for easy/cheap deals.</li>
</ul>
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Real estate agents are worth it for most sellers
A good agent earns his/her fee. As for the top earners? Yes there are a few who earn $500,000 a year, just as there are salespeople in other fields that earn that sort of money. But for every $500,000 earner, I will show you another 500 salespeople who earn less than $60,000, par­tic­u­larly after deduct­ing their vehicle and phone costs. Suc­cess­ful people earn good money, unsuc­cess­ful people do not. That is how the free enter­prise sys­tem works, people!
As for people selling their own homes, remem­ber that the skill of a good real estate agent is to get the buyer up in price, nego­ti­ate the deal. The aver­age per­son does not have this skill and gets less for their home.
What some people must under­stand is that most people do not sell and buy a ter­rific amount of houses in their life­time. For the major­ity they may sell one or two. For the most part sellers are very emo­tional when selling and at times tem­por­ar­ily insane. There­fore you need an object­ive party hand­ling the negotiations.
The per­sonal sacrifices
The thing is, real estate agents can be as wealthy or as poor as any­one. But what people for­get is the amount of sac­ri­fice of per­sonal time and energy that goes into suc­cess­ful agents.
To those of you who say they don’t deserve what they earn, I chal­lenge you — agents make the choice to either work their guts out to make the most they can, or they can cruise by and do the bare minimum, therefore earn­ing the min­imum wage.
In today’s world where even the smal­lest com­mod­it­ies come with huge price tags, most people have to earn as much as they can to sup­port their fam­il­ies and life­styles, but oh boy does it come at a price. Leav­ing before 8am and get­ting home at 9pm, kids school events missed, week­ends full of open homes and nego­ti­ation, and that bloody phone that can never be turned off!
You say they’re always out at lunch?
Most likely it’s a meet­ing with a cli­ent, or a nego­ti­ation. Swan into work whenever they want? Well sure, they’re mostly out of the office on the road clos­ing deals, doing inspec­tions or vis­it­ing homes for apprais­als.
Real estate agents live and die by the work they do and abso­lutely deserve what they earn. They give up a lot to achieve suc­cess, going from abso­lutely noth­ing to a thriv­ing career based on their own hard work and tenacity.
Look­ing rich is all part of good real estate agent marketing
Would you trust your most valu­able asset with an unsuc­cess­ful look­ing real estate agent?
At this stage you may be ask­ing your­self how come real estate agents own expens­ive cars, watches, and offices? As you prob­ably have already real­ised agents are all about per­sonal promotion.
To even get an inter­view as an agent you have to already look the part (espe­cially for me as Gen Y with no exper­i­ence at the time). For me that meant I had to get a car loan and buy a late model car, nice suit, watch and cuff­links (all on credit card).
I know many real estate agents that don’t really care about what car they drive, but unfor­tu­nately we live in a mater­i­al­istic soci­ety. Sellers make judg­ments whether we like it on not on such things, either it be sub­con­sciously or consciously.
Because we look suc­cess­ful, people have pre­con­ceived notions that we are liv­ing it up but in real­ity it’s all good mar­ket­ing. 
Why do I need an agent when tech­no­logy helps me do it so easily?
You may still be think­ing if someone wants to buy a house they will, and the real estate agent him/herself will have abso­lutely noth­ing to do with that decision!
This is true to some extent but at what price?
If you think real estate agents are a dying breed and you think you can sell you own prop­erty for top dol­lar. I think you should, but just make sure;
<ul>
<li>you don’t hold back on the marketing,</li>
<li>have a sys­tem of nego­ti­ation to get the best offer,</li>
<li>flex­ible work hours for buyer meetings</li>
<li>and do your best not to get emotional.</li>
</ul>
Although there are many own­ers who have the abil­ity to sell their own homes, there are mil­lions of oth­ers who are pet­ri­fied at the very thought. Here is one example that I have seen a few times. The “Sale by Owner” vendor has had what he con­siders to be an excel­lent inspec­tion with Mr and Mrs Jones. They are mak­ing good buy­ing noises, or so he thinks. They say “We will get back to you”. Two days go by and not a word! What does the private seller do? Does he phone them? The thought crosses his mind that if he does that, he might risk appear­ing as an anxious seller! Does he even have their con­tact details? Does he start to doubt his assumed abil­ity to be able to spot a def­in­ite buy­ing sig­nal? Hmmm! Maybe this is not as easy as I thought!
A good agent doesn’t have to worry about these things. He is not embar­rassed to phone Mr and Mrs Jones. That is his job! A good agent is also a damn sight bet­ter in spot­ting buy­ing sig­nals than the aver­age home owner. If Mr and Mrs Jones had been mak­ing genu­ine buy­ing sig­nals the good agent would have had them back to his office nego­ti­at­ing and filling out an offer! That is the difference.
<a href="https://realestatesevenhillsnews.com.au/2013/03/3-key-emotions-around-selling-property-and-how-it-can-cost-you/" target="_blank" title="3 Key Emotions Around Selling Property And How It Can Cost You!">Sellers that get emo­tional dur­ing the selling and the nego­ti­ation pro­cess usu­ally make irre­vers­ible bad decisions</a> (unknow­ingly), that cost them more than an agent would have. I have seen it almost on a daily basis and I will admit I have made many of the bad decisions when I first star­ted. This is why good agents spend thou­sands of dol­lars on coach­ing and train­ing of selling sys­tems. This human ele­ment of selling a prop­erty is why real estate agents will always be needed, but the way we sell is con­stantly changing.
Sum­mary
Now you know about the good, the aver­age, and the just plane incom­pet­ent. But not all is lost. By now you should able to dis­cern between the agent types and pick a good one.
If you’re still in the “I don’t need an agent” boat, that’s fine so long as do your home­work, are well pre­pared and do your best to not get emo­tional. I’ve seen many own­ers leave money on the table and not even know.
Jhai Mitchell is the internet marketing real estate agent for <a href="https://www.elderstoongabbie.com.au/" target="_blank">Elders Toongabbie</a> and <a href="https://www.elderskingslangley.com.au/" target="_blank">Kings Langle</a> and maintains a blog, <a href="https://realestatesevenhillsnews.com.au/" target="_blank">Seven Hills Real Estate News</a>.
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JhaiMitchell-KTraswnPwa

We work hard for the money - real estate agents are not overpaid: Jhai Mitchell

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Gail Pemberton, the chairperson of Onthehouse Holdings, will resign as a director with effect from 27 February 2015, as upheaval continues at the property data company.
Its new board proposes to appoint Tony Scotton as chairman, who has stepped down from the role of interim CEO.
Chris Meehan, the current chief operating officer has been appointed as acting CEO, the search begining last October on the departure of Michael Fredericks.
A major new shareholder has recently emerged represented by Michael Dempsey, so further board changes are being made as part of the further renewal process.
Dempsey directly and indirectly controls 15,837,745 shares in OTH, representing 19.2% of issued capital.
Gail Pemberton will be joined by Brian Mitchell, nominee directors Gabriel Radzyminski and Glenn Poswell in exiting the board leaving Anthony Eisen to serve as an independent non- executive director.
Michael Dempsey will join the board along with Daniel Dempsey and Angus Johnson.
Big recent shareholder arrivals on the registry, Blue Lake Partners, Gannet Capital and Sandon Capital welcomed the appointment of the Dempseys and Brisbane property developer Angus Johnson.
Michael Dempsey founded and led Ezidebit Pty Ltd from a start up venture in Brisbane to become Australia’s leading payment processor. Ezidebit was sold to Global Payments Limited, a Nasdaq listed Fortune 1000 company for $305 million in 2014.
Onthehouse will release its first half results on 26 February 2015.
Based on unaudited management accounts, the operating results for the half year to 31 December 2014 are expected to be circa:
<ul>
<li>Revenue of $13 million (1HY14: $12.9 million);</li>
<li>Underlying EBITDA of $3.1 million (1HY14: $3.2 million);</li>
</ul>
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Onthehouse gets new chairperson after Gail Pemberton resigns

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ANZ today announced that Mark Whelan will succeed Philip Chronican as CEO Australia reporting to chief executive officer Mike Smith.
Chronican, who joined the bank in 2009, intends pursuing a non-executive career following a 32-year career in banking.
Whelan is currently managing director global commercial banking and has been a member of the ANZ Management Board since October 2014. 
Previously at ANZ, Whelan was managing director commercial Australia and was formerly managing director institutional APEA based in Hong Kong where he was responsible for institutional, commercial and private banking across Asia Pacific, Europe and America.
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Mark Whelan to replace Philip Chronican at ANZ

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Bernie Fraser, the chairman of the non-major bank, ME Bank has stepped down from his position after 15 years.
Fraser joined ME Bank in April 2000, when the the six year organisation was operating as a securitised mortgage provider. 
The former Governor of the Reserve Bank of Australia oversaw ME Bank’s acquisition of a full banking licence in 2001.
Fraser is being replaced by current director, Garry Weaven, as the chairman.
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Bernie Fraser departs ME Bank after 15 years

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Fairfax Media's Domain Group has announced its plan to roll out its estate agent equity participation model in New South Wales and Queensland.
Like the ones launched in Adelaide and Perth last year, local agents can have equity in a new online business in partnership with Domain. 
The Domain Group will collaborate with local agents to create a new industry-owned real estate business that will be 50% owned by Domain Group and 50% by real estate agents in each state or territory.
Expressions of interest have been sent to NSW and Queensland real estate agents today.
The industry-owned model was pioneered in Victoria by Antony Catalano, the Domain chief, who said the launch of the model was a game changer for the industry.
“It has been an enormous success in Victoria, bringing real competition to the market, helping keep a check on pricing and giving much better value to property advertisers,” he said.
“Our collaboration with agents has provided a richer insight into the key concerns of our vendors and consumers as well as market trends, which has allowed us to build the best products and best experiences in the market."
Antony Catalano said that, based on the take-up in the other states, he expected an enthusiastic response.
“The reality is that the industry has been calling for a genuine industry partner for years, but it is a very hard thing to do,” he said.
“The great strength of the new business model and today’s announcement is that it is the first time a substantial, expert and experienced national publisher has joined with the industry to create more competition and better products.
“We have been road testing the proposal and the response has been enthusiastic."
Earlier this year Melbourne’s leading agents and the founding shareholders of the Metro Media Publishing Holdings (MMPH) syndicate agreed to swap their equity in MMPH largely for equity in Fairfax. 
But agent ownership of MMPH subsidiaries, including the rapidly-growing property portal reviewproperty.com.au and The Weekly Review magazines in Melbourne and Geelong, remains.
MMP has more than 400 agent shareholders through its reviewproperty.com.au and The Weekly Review magazines.
Domain recently announced sponsorships that will promote its presence in SA and WA, taking AFL Adelaide Crows corporate sponsorship. 
<div class="story-hero">
<img src="https://www.afc.com.au/staticfile/AFL%20Tenant/AdelaideCrows/Images/EVEN0075_620x370_620X370.jpg" alt="EVEN0075_620x370_620X370.jpg" title="EVEN0075_620x370_620X370.jpg"> 
</div>
Domain has also signed a partnership that will see Patersons Stadium renamed as Domain Stadium under three-year naming rights sponsorship.
 
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