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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South Chinese developer Shunlide Group’s Australian offshoot, Surewin Pty Ltd, are set to build 62 new apartments in Ashfield in the company's first Australian project.
Marketed as <a href="https://www.onevictoriastreet.com.au" target="_blank">One Victoria</a>, the development is located on 2,958 square metre land surplus to the Wests Ashfield Leagues Club at 1 Victoria Street.
General manager of Surewin Australia Edward Cheung said that it took them five years to acquire the site.
“We selected international-class firms to partner with, and we’ve worked closely with the local council to ensure the apartments provide the prime living environment for the suburb yet still maintain realistic prices,” he said.
The six-storey building will see upper level apartments with views to the Sydney CBD to the east and Chatswood to the north.
<img src="/images/2014/10/24/Ashfield%20cutaway.jpg" alt="">
Ray White Erskineville’s Peter Shield expects a high level of demand.
“Ashfield is a naturally beautiful suburb surrounded by parklands and recreational attractions, and very convenient to the Sydney CBD via rail, bus or car,” said Shield.
“Surprisingly though, Ashfield has been largely neglected by quality developers, and apartments here have been primarily built to a price for investors.”
He notes that their research has found subdued median prices in <a href="/news">Ashfield</a> as a result, with the median sitting at $590,000, compared to <a href="/news">Summer Hill</a>’s $650,000, <a href="/news">Croydon</a>’s $667,000 and <a href="/news">Five Dock</a>’s $735,000.
“The apartments are 15% larger than Ashfield’s average, and all have at least one secure car space,” he said.
There are three studios available, at 44 square metres internally plus external space of up to 19 square metres, from $545,000.
<img src="/images/2014/10/24/Ashfield%20interior.jpg" alt="">
A further 14 one bedroom apartments from 52 to 58 square metres internally and external space spanning up to 21 square metres are priced from $595,000 upwards.
Two bedrooms, with the most options at 33 apartments, span from 81 to 95 square metres and the externals range up to 99 square metres. They are priced from $755,000.
Finally, there are 12 three bedroom options that are available from $995,000. They span 115 to 129 square metres with externals up to 96 square metres.
Each apartment comes with a 5.5 metre storage cage in the basement. There are 80 car spaces in the development.
<img src="/images/2014/10/24/Ashfield%20kitchen.jpg" alt="">
One Victoria is being designed by Nettleton Tribe, with a third of the site to be landscaping and communal space, with a central courtyard for residents.
Body corporate levies have been estimated at $600 per quarter for one bedroom apartments, $800 for two bedroom apartments and $1,100 for three bedroom apartments. Strata Choice came up with the estimations.
Deicorp is constructing the development, and work is scheduled for early-2015.
The expected completion date currently sits in mid-2016.
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Asian developer’s first step into Australia with 62-apartment Ashfield development

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A new property website has launched – Exchangehouse – where property buyers can bid on residential homes.
Director of <a href="https://www.exchangehouse.com.au" target="_blank">Exchangehouse</a>, Mark Jamieson, said that they expect it to change the way people buy and sell property.
“We identified three major shortcomings with current methods of sale. Firstly, buyers are wasting time and money chasing properties beyond their budget,” he said.
“Secondly, sellers and buyers are making pressured financial decisions on auction day. Lastly, there is a lack of reliable information for all parties during the marketing campaign.”
The site was founded by Jamieson and Jonathan Elepano.
A fully integrated online platform, the first property to be sold and listed will be <a href="https://exchangehouse.com.au/auction_details.php?auction_id=100539%20" target="_blank">30 Cook Street, Randwick (pictured above), which is marketed through Ray White Coogee</a>. It was listed on Saturday.
Alike to eBay, it shows the number of watchers, which could prove an interesting bit of information for prospective buyers. It also includes an 'opening bid call' of $1,997,500, as well as the time which bidding commences.
Contract of sale, reports, further information, bidders guide and auction rules are all provided on the site.
Agents can list on behalf of vendors, an undisclosed reserve price is set on the first day of the campaign, but can be adjusted at any time.
Buyers are told when bidding will begin and it is noted that this is kept within a reasonable range of the reserve, assisting transparency, efficiency and convenience.
“Overseas buyers are expected to embrace the new technology platform,” said Jamieson.
An email and SMS alert system is in place.
Buyers are required to pay a $2,000 bond as part of the registration process, which is immediately refunded when the auction closes if they do not win the property. If they are successful, they retrieve the bond upon payment of the deposit.
It costs $250 to list a property, as well as a further transaction fee of 0.15% if the property sells.
At present, New South Wales listings are available – with a national expansion due to take place next year.
{mijopolls 55}
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Bid for homes online on new property listings website

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 Meriton Apartments won the Housing Institute of Australia (HIA) NSW Apartment Complex award for 10 storeys and over at the 2014 HIA-CSR NSW Housing and Kitchen &amp; Bathroom Awards over the weekend.
The win was for their Zetland complex, VSQ North, which includes the tallest apartment tower in the area. The project was called “visually appealing” by the judges.
With amenities including an indoor pool, gym and sauna, as well as energy efficiency measures, the development came out at the top of the pack.
Designed by Turner architects, the Meriton development spans four buildings as well as a 27 level tower.
The complex was completed in July 2013 and currently houses 297 households and includes a child care centre and 131 bicycle spots.
Meriton’s managing director Harry Triguboff said they were proud of the achievement, and had faith in Zetland from the beginning.
“It has become a landmark building for Zetland and for Sydney itself – it is one of the first buildings you see as you drive in from the airport,” he said Triguboff.
HIA NSW executive director David Bare said that next year will be the national awards, with major winners from each state and territory’s awards progressing to compete on the Australia-wide scale.
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Triguboff’s tallest Zetland apartment tower awarded

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Sydney CBD property specialists, Morton &amp; Morton and Wilson Property Agents, have merged.
The acquisition of Wilson Property Agents will see the brand transition into Morton &amp; Morton over the coming months.
The Wilson Property Agents Hyde Park office, in the prime location under The Hyde, will re-open under Morton &amp; Morton as part of the merger.
The new team will grow to over 60 employees across five offices including, Circular Quay, Hyde Park, Woolloomooloo, Pyrmont and Crows Nest.
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Ewan Morton, managing director of Morton &amp; Morton will run the agency as Adrian Wilson will step away from the business.  
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jchancellor-FAypfDUnLy

Sydney CBD property agency merger

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The Transfield Services board has advised shareholders to take no action regarding a cash $1 billion takeover bid from Ferrovial Servicios SA.
Ferrovial Servicios, the Spanish infrastructure company, has offered $1.95 for each share.
“The Board of Transfield Services has considered Ferrovial’s proposal with the Company’s advisers and has formed the view that the price of $1.95 per share does not reflect the underlying value of Transfield Services shares,” chairman Diane Smith-Gander said.
The company’s shares closed at $1.50 on Friday, giving it a market capitalisation of $769 million.
Transfield provides operations and maintenance, asset, capital and project management services to the resources, industrial, infrastructure services and property sectors.
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 Transfield under $1 billion takeover offer from Spanish suitor

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iProperty Group founder Catcha Group was seeking to sell one-quarter of its stake in the Asian real estate business on Wednesday night.
The 25% stake is worth around $27 million.
The Australian Financial Review's Street Talk column said broker Morgans was looking to place 10 million iProperty Group shares after the market closed, calling for bids at $2.70 to $2.75 a share.
The block represented about 5% of iProperty’s shares on issue. iProperty shares had closed up 13% to $2.82 in Wednesday trade.
Catcha Group chief executive Patrick Grove, a BRW Young Rich lister, runs online businesses valued at around $US1 billion, some of which are listed on the Australian Stock Exchange.
Real estate portal iProperty Group owns online property websites across Asia. When it debuted on the ASX in September 2007, the iProperty company had a market value of $25 million. 
Earlier this year Mark Britt, the former chief executive of Nine Entertainment’s Mi9 joined the subscription video-on-demand and internet television division of Patrick Grove’s Catcha Group.
Catcha’s decision came soon after iProperty bought the Hong Kong real estate business Squarefoot from major shareholder REA Group. The scrip-based deal valued Squarefoot at $15 million.
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Patrick Grove's Catcha Group selling iProperty stake

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Guest observation
Those agitating for the abolition of licensing requirements for large commercial property transactions continue to press their case, despite the significant risks this poses for consumers and business.
The Real Estate Institute of Victoria (REIV) welcomed news in May, following our pressure on the Victorian Government, that there would be a deferral of the decision to remove commercial agent licensing for "large transactions" – a move foreshadowed by the Government as one of 36 anti-red tape reforms it announced in January.
The proposed amendment would create a two-tiered licensing system – permitting the negotiation of leases and sales without a licence under the Estate Agents Act 1980.
What is the risk?
Such a change would expose both buyers and businesses to unacceptable risk, which licensing is designed to mitigate.  Licensing offers protection for consumers and uniformity across the industry.
Under the proposal, unlicensed operators would not be bound by the Estate Agents (Professional Conduct) Regulations 2008 and their clients would face increased risk because the operators would not be subject to probity checks or required to maintain an audited trust account.
Without a licensed agent, consumers are exposed to serious financial risk arising from their dealings with untrained and potentially unethical operators engaging in unlawful practices.  They would also not be able to access the protections available through the Victorian Property Fund.
Licensing means better agents
Licensed agents are highly trained, enabling them to deal with legal and ethical requirements, contracts, private treaty sales and conflict management.  REIV also hosts a number of commercial agent events each year to increase agents' understanding of current industry best practice in the commercial sector. Many vendors do not have experience with large transactions and using the services of a licensed agent provides a vital safety net.
Large proportion of sales
A key supporter of the change, the Shopping Centre Council of Australia (SCCA), claims that licensing is costly and unnecessary, affecting only a small proportion of sales.  In fact, in the most recent year (2013), almost 40 per cent of property transactions, by value, were above $10million.
Stronger consumer protection
Payments related to the sale of property are held in trust accounts, offering greater surety for vendors. Without an agent, they are exposed to high financial risk and the potential for unlawful behaviour.
Consumers, able to access the Victorian Property Fund's protections, are also safeguarded from unprincipled operators – who would not be subject to probity checks or required to maintain an audited trust account if licensing were to be abolished.
Exemption already in place
While the SCCA supports a change, an exemption from licensing requirements is already in place which the group can leverage.  This exemption, under the Estate Agents (Exemption) Regulations 2005, assists SCCA members – exempting them from the need to hold a real estate licence, for transactions by a member with another which it wholly or partially owns.  This is especially beneficial to large shopping centre owners dealing with related entities.
Let's not reduce professionalism in our industry
Any move to change licensing of commercial agents would have a detrimental impact on the levels of professionalism in the commercial property sector. The requirement for a licence to sell or lease residential, retail, industrial and commercial property in Victoria has increased the levels of professionalism and integrity within the state's real estate industry.
The REIV strongly believes the aim should be to increase consumer trust in the commercial sector - and to build that trust through rigorous standards and highly capable, licensed commercial agents.
Enzo Raimondo is the chief executive of the <a href="https://www.reiv.com.au/" target="_blank">Real Estate Institute of Victoria</a>.
 
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Abolition of commercial licensing should stay off the agenda

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In a move reminiscent of the recent HeForShe movement from the UN, popularised by Emma Watson, the Property Council of Australia (PCA) has formulated a group called Male Champions of Change (MCC) to push for gender equality in the property industry.
The Male Champions of Change has been around in Australia since 2010, established by Sex Discrimination Commissioner of the Australian Human Rights Commission Elizabeth Broderick – many years prior to the HeForShe movement. This is the first time the property industry is making a big push to get involved.
The founding Champions included Qantas chief executive and managing director Alan Joyce, ANZ chief executive Mike Smith, CBA chief executive Ian Narev, Telstra chief executive David Thodey and Prime Minister and Cabinet’s Ian Watt.
Former national president of the PCA Carol Schwartz will convene the MCC, which is expected to include senior leaders from development, construction, investment, funds management and agencies.
"All the research tells us that companies with gender diverse leadership teams show greater profitability and higher levels of innovation. It’s a testament to the Male Champions that they demonstrated leadership on this issue and have inspired others to do so," Schwartz said.
"Now it's the property industry's turn to influence this issue and really compete in the war for talent. Harnessing the talents of women has the potential to drive economic growth and prosperity and should be a national priority.”
She pointed to many initiatives that have taken place within the property industry, which will provide a foundation for the Champions’ charter and action plan.
Broderick said that women have been largely responsible for the gains made so far, but said that more is needed.
"Through the MCC strategy, men step up beside women and contribute their influence to accelerate this work and disrupt the status quo,” she said.
"I commend the Property Council for leading the change needed in the property industry, which is one of our country's largest employers.”
She has been seen tweeting and Facebooking her support for #HeForShe.
Current PCA chief executive Ken Morrison said that increasing the number of women in property leadership roles, and increasing the number of women attracted to work in the property industry, is important.
"The formation of the PMCC builds on the Property Council's diversity programs and we are excited to have Carol lead this extremely important group and help it create its foundation charter," Morrison said.
Joint managing director at Investa, Ming Long, was previously noted by Morrison for “her drive in taking the initiative to this point”.
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Male Champions of Change, the property industry’s HeForShe

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Antonia Mercorella has been appointed chief executive of the Real Estate Institute of Queensland (REIQ).
Mercorella is a lawyer who worked as the principal legal adviser for the Real Estate Institute of South Australia before joining the REIQ in 2011 as general ­counsel and then deputy chief executive.
She stepped up to become acting chief executive ­following the sudden departure in June this year of former chief executive Anton Kardash.
Kardash held the position since January 2012, at a time when the state organisation was facing a significant financial loss after <a href="https://www.business2.com.au/2013/10/reiq-com-implodes/" target="_blank">difficulties</a> with the new property website rollout.
“The board could not just sit back and watch without taking action," REIQ chairman Rob Honeycombe said at the time.
“While economic factors means this is not entirely the responsibility of senior management, it would be remiss of the board to fail to act in the face of such a disappointing result.”
Mercorella is the first female chief executive in the organisation’s history and the youngest person appointed to lead the REIQ.
 
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Antonia Mercorella appointed chief executive of the Real Estate Institute of Queensland

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A settlement agent in Perth's St Georges Terrace, Sydney James Chesson (trading as Master Settlements), has been cautioned by the State Administrative Tribunal.
The Tribunal notes there was misuse of a trust account for transactions that were not for the purpose of settlement, and was in breach of the Settlement Agents Act.
The caution was issued on 30 September instead of a fine, as the Tribunal acknowledged there had been no misappropriation of the funds from the trust account.
He did, however, have to pay costs of $8,828.
The business functions for both real estate and business settlements.
Acting Commissioner for Consumer Protection, David Hillyard, said that the situation emphasizes the importance of licensed settlement agents using their trust accounts specifically for transactions related to settlements only.
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