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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Credit Union Australia (CUA), the country's largest customer-owned financial institution, has appointed banker Rob Goudswaard as its chief executive officer from February 2015.
He will take over from Chris Whitehead who has led CUA since 2009.
He has worked in various senior executive positions at the Australia and New Zealand Banking Group including work overseas as ANZ's head for the Solomon Islands and in Oman for ANZ Grindlays Bank.
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CUA appoints Rob Goudswaard as chief executive

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SQUIIZ under the microscope: Will it work?

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The CEO of Mortgage Choice, Michael Russell, has announced his retirement.
In a statement, Mortgage Choice Limited chairman Peter Richie advised that the retirement would occur after the completion of the 2015 financial year, and the “identification of an appropriate successor”. The date isn't completely set for the June 2015, as Property Observer understands that he will stay until the successor is hired.
An official Mortgage Choice statement expresses that he is as determined as ever to lead the company to another successful and profitable financial year.
"Michael joined Mortgage Choice determined to enhance the business' profitability and introduce a financial planning arm and, during his tenure, he has managed to do just that. Having completed the job he set out to do, Michael feels the time is right to retire from his role as CEO."
Russell has held senior executive positions at ANZ Banking Group and National Mutual Royal Bank, with more than 30 years experience in financial services.
Russell joined Mortgage Choice in 2009 as CEO and implemented and developed two three-year strategic plans. Richie notes that this “enabled the franchise group to grow and prosper through the aftermath of the GFC", and that now he will assist Ritchie with identifying and transitioning a replacement CEO.
At a Mortgage Choice media luncheon last week, Russell discussed the risks to retirees of reverse mortgages, quipping “we always assume seniors are incapable of making decisions for themselves”, saying that none of the major banks offer this product.
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Mortgage Choice CEO Michael Russell announces retirement

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The former Multiplex director and Probuild state manager Peter Southwell has been appointed to the Victorian state government’s property development agency.
Places Victoria is focused on growing a new portfolio of medium to high density urban renewal projects.
He will assume the role of general manager, development and construction.
Southwell has worked in the property industry for more than three decades and is currently the technical director for project management at Davis Langdon, an AECOM company.
He has overseen construction work on projects including the $200 million seven17 Bourke Street development in Docklands and the redevelopments of Highpoint Shopping Centre and Myer Melbourne.
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Places Victoria appoints Peter Southwell

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AMP Capital has announced the retirement of one of the longest-serving members of its leadership team, the chief investment officer - property, Andrew Bird.
He will retire in 2015 after a 37-year career in the property industry in the UK and Asia Pacific.
He has been responsible for AMP Capital’s property investment and management business since 2004.  
Bird will be replaced by Adam Tindall, who has been promoted from his current role of chief operating officer - property.
Under Andrew’s stewardship, AMP Capital’s property business has grown funds under management to $17.7 billion.  
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AMP Capital's chief property investment officer to retire

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A new online listings portal, named SQUIIZ, has been launched with the initial phase now live.
PRDnationwide’s managing director Tony Brasier said that the <a href="https://squiiz.com.au/" target="_blank">SQUIIZ</a> site has almost 200,000 listings on day one.
“That’s the benefit of a collaboration of the major brands in the industry,” Brasier said in a statement.
SQUIIZ branding will be on all signboards of PRDnationwide franchise offices.
“A lot of work and collaboration has gone into the past 12 months to get it to the launch phase and that includes building the technology. We are very pleased with the progress so far and are counting on the support of all real estate agents over next 12-24 months and beyond to make SQUIIZ a success,” said Brasier.
The app, which is yet to be launched, will include all the content on the site.
Having a look at the listings they have captured, Property Observer found that SQUIIZ had 10 listings for Mount Druitt, compared to 74 on realestate.com.au and 73 on domain.com.au, while RealestateVIEW records 18 properties.
When considering a different type of market, such as Victoria’s Toorak, we see that SQUIIZ has zero results. Domain records 126 properties, while realestate.com.au has 127. RealestateVIEW records 112 properties in Toorak.
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Online listings portal SQUIIZ launched with 200,000 listings

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Collapsed South Australian construction company Stellar Homes has been rescued from administration by the Scott Salisbury Group.
The construction and development business announced its acquisition of Stellar Homes on Friday. 
Stellar Homes <a href="https://www.smartcompany.com.au/finance/44441-construction-company-collapses-owing-5-million">collapsed earlier this month</a> owing $5 million and leaving 36 homes and 173 tradies high and dry. 
The procurement process involved the Scott Salisbury Group working closely with both the administrators at Macks Advisory and the team at QBE to “derive a resolution that is beneficial for all parties involved”.
The sale price for Stellar Homes is undisclosed but is dependent on the performance of Stellar Homes post purchase.
Scott Salisbury Group is a 25-year-old South Australian construction company with 55 employees and a turnover of $50 million a year.
Scott Salisbury told SmartCompany he plans to deliver the projects already underway utilising and managing existing Stellar Homes trades and suppliers.
“The biggest reason for us to get involved in that was to help out in the industry and help those customers missing out in the trade and supplies,” he says. “Obviously there has to be some financial reward for us but we are not all that confident about that yet.”   
Salisbury says the reason for Stellar Homes’ collapse appears to be poor cost control.
“I think it is just poor financial management, some of the projects were sold too cheaply, there was quite a large overhead in the business,” he says.
“They are similar circumstances with builders around Australia when they go under it tends to be because they were too cheap. Builders traditionally get paid in advance so they have a lot of cash in the bank that isn’t actually theirs.”
Salisbury says the Scott Salisbury Group has experience in taking over jobs from companies which have been in administration.
“They are quite difficult jobs as there is a lot of emotion involved,” he says.
But Salisbury says industry-wide improvements are required to make sure a collapse like this doesn’t happen again.
“One of the reasons for doing this is the system needs to be cleaned up,” he says. “The industry knew six months ago that this was going to happen but nobody does anything about it.”
Salisbury says people weren’t being paid and there was talk in the industry that Stellar Homes was in trouble for a long period of time but despite this Stellar Homes was given a building award by the Housing Industry Association only six weeks ago.
“That gave people confidence that they were still viable,” he says.
Salisbury says there needs to be better recording for licensed builders.
“Builder’s licences need to be tied into their assets and financials,” he says.
“Organisations like the Master Builders Association have a code of conduct and if that was made stronger and we could report when trades weren’t being paid then that could be a solution. These things shouldn’t happen they are preventable.”
This article first appeared on <a href="https://www.smartcompany.com.au">SmartCompany</a>.
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Scott Salisbury steps in to rescue collapsed construction company

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Agents in New South Wales "have no idea how to properly conduct themselves" as skilled professionals, according to the Real Estate Institute of New South Wales (REINSW).
The agents' association has suggested a partial self-regulation model to train real estate agents, claiming the education of agents is in a "dire state".
REINSW deputy president John Cunningham met with NSW Fair Trading Minister Matthew Mason-Cox last week to discuss a training partnership to address concerns about the professionalism of the state's real estate agents.
"The proposal to partner with NSW Fair Trading, to ensure a more rigid set of controls and compliance in the form of a guild model, has an emphasis on education and on-going training to get to the root cause of consumer concerns," said Cunningham.
"Over the past 10 years the educational standards of entry into the real estate industry have been watered down to a point where agents, having completed their certificate of registration course through some [Registered Training Organisations], still have no idea how to properly conduct themselves in their capacity as what consumers consider them to be as skilled professionals."
According to Cunningham, Mason-Cox took note of consumer concerns about underquoting, an illegal practice where agents bait buyers by intentionally quoting a lower price than reasonably estimated.
"We had a productive meeting and the minister said he was keen to keep an open dialogue," said Cunningham.
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Real estate agent education in a "dire state": REINSW

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Real estate group Raine and Horne have raised more than $21,000 towards cancer awareness and research throughout 2014, donating portions of their fees for every house sold in South Australia to the Cancer Council South Australia.
Over the third quarter of this year alone they have raised $7,000. 
But it’s not only cash that the group has donated. Raine and Horne’s 150 current South Australians employees have also devoted hours of their own time to vital Cancer Council initiatives such as the Be SunSmart crusade, Bowel Cancer Screening and Cancer Help Line (13 11 20).   
According to Cancer Council Australia, one in two men and one in three women will be diagnosed with cancer before they turn 85.  
“Every day, 25 South Australians are diagnosed with cancer and these funds will ensure that we can continue to support ongoing research,” says Cancer Council SA Chief Executive, Professor Brendan Wilson. 
One of the biggest advocates for these contributions is Gary Dawe, Co-Principal of Raine and Horne Meadows and Raine and Horne Strathalbyn.
“My father was diagnosed with bowel cancer in his 50s and prostate cancer in his 60s” says Dawe.
After witnessing his father’s battle with cancer and the support he got from the Cancer Council, Dawe has provided a lot of support by helping organise the annual Meadows Country Fair, which financially supports Cancer Council SA.
“He was able to recover from both cancers, although prostate cancer eventually caught up with him – he made it into his 80s and the support of the Cancer Council SA was fantastic,” Dawe said.
Michael McDonald, CEO, Raine and Horne South Australia, says they are contributing to numerous types of cancer research and awareness programs.
“As a primary sponsor of Cancer Council SA, and its Community Action Van, we are committing much more than cash – and have mobilised the substantial resources of our 26 offices in South Australia in support of major events such as Daffodil Day, Girls Night In, Pink Ribbon Day, Biggest Morning Tea and Relay for Life in 2014,” says McDonald.
The Cancer Council’s and Raine and Horne’s partnership started in 2008 and continues to raise money for the research and awareness of cancer throughout South Australia.
“It remains so important that we contribute to raise awareness that through healthy eating, being SunSmart, remaining active and not smoking, people can reduce their risk of cancer,” said Wilson. 
Raine and Horne will continue with their donations in a ‘long-term’ partnership which will see thousands more dollars go towards cancer support.
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Raine and Horne are selling houses to help fight cancer

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Quest Serviced Apartments has established an advisory board of high profile business leaders to steer the company’s strategic direction over its next period of growth.
Three members of the newly appointed Quest advisory aboard include:
<ul>
<li>Tony South, former chairman of Tourism Accommodation Australia</li>
<li>Peter Ritchie, former chairman of McDonald’s Australia</li>
<li>John Selak, Ernst &amp; Young partner</li>
</ul>
The advisory Board will provide commercial pragmatic advice to support Quest Chairman, Paul Constantinou and its senior management team.
Quest announced recently a $500-million strategic partnership with one of the world’s largest serviced apartment owner-operators, the Singapore based The Ascott Limited.
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