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.

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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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Comparison website comparethemarket.com.au has launched a new home loan comparison service in partnership with mortgage broker group AFG.
Spokesperson Abigail Koch noted that the launch of this<a href="https://www.comparethemarket.com.au/home-loans/" target="_blank"> new home loan comparison portal</a> is due to an increasing number of consumers heading online to find a home loan.
This new service allows prospective mortgage holders to avoid filling out repetitive forms, and ensures you can compare loan products.
Access to brokers that cover more than 1,350 products from 29 lenders is also provided through the AFG partnership.
“With the average Australian mortgage approaching $444,000, it’s crucial consumers do their homework when it comes to choosing the right home loan for them," said Koch.
“Our service takes the hard work out of shopping around, enabling people to compare products more easily, and only deal with one experienced broker throughout their financial journey, who has knowledge of over a thousand different home loan options,” she said.
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New online home loan comparison service launched

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Nine groups have lodged objections with IP Australia to REA Group's application to trademark the name 'realestate.com.au'.
The time frame to lodge objections has passed.
The Real Estate Institute of Australia spoke out against the trademark application, saying that the term ‘real estate’ is widely used by other industry groups and businesses.
REIA CEO Amanda Lynch said that everyone should be able to accurately identify the types of goods and services that they sell and that ‘real estate’ is a generic term of common useage.
“To allow a single company to claim trademark rights to a generic term would impoverish the language and unfairly hamper competition,” said Lynch.
She noted that one of the objections was from ABC Real Estate and said it’s clear why they’ve lodged a formal objection.
“Their situation is not a unique one and if this trademark is approved then it could harm or negatively impact on other businesses,” she said.
"It is a totally unnecessary move by REA Group that not only does nothing to instil sector confidence in the REA Group but also results in businesses having to waste time on lodgement fees with IP Australia as well as lawyers.”
When Property Observer <a href="/news/should-rea-group-be-able-to-trademark-realestate-com-au">asked readers where REA Group should be allowed to trademark the term</a>, the majority said ‘yes’. <img src="/images/2014/09/01/poll-resaults-sept-1-one.jpg" alt="">
REIA president Peter Bushby previously noted that ABS data in June 2013 found that there were 35,019 real estate businesses operating in Australia, with a substantial portion using “real estate” as part of their branding.
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Nine groups lodge objections to REA's 'realestate.com.au' trademark bid

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Fairfax Media’s Domain Group property division will launch a new digital real estate marketing business in South Australia.
Designed to take on the dominant realestate.com.au, the new venture will be a 50/50 venture between Fairfax and an as yet undisclosed group of South Australian real estate agents.
SA agents are being invited to register for shares in the new business, based on an assessment of advertising spend with the business.
The model is similar to the Melbourne real estate magazine and digital group, Metro Media Publishing, which was founded by Domain chief executive Antony Catalano in partnership with local estate agents with half-ownership by Fairfax.
“Building on the significant success that Fairfax has enjoyed with this approach in Victoria, the intention is to roll out this model in South Australia,” Catalano said in a letter to South Australian real estate agents referred to in a Fairfax Media report.
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Domain Group to beef up South Australian presence

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The Strata Community Australia (Vic) Awards held earlier this month saw Engine Property Group given an award for excellence for the second consecutive year.
The award, in the category of Owners Corporation Management Business (greater than 3,000 lots) is given to a company after judging from a panel of peers, based on ethics dealing with clients and suppliers, service delivery for customers and healthy relationships in the industry.
Managing director of Engine Property Group Andrew Dawson said they were thrilled to receive the award.
“Such is testament to our hardworking team who strive to deliver the outstanding service that our clients have come to expect from us,” said Dawson.
"Everyone at Engine is very proud to be recognized for the work we do. We are constantly improving the quality and efficiency of our services ensuring the buildings and estates that we manage are a pleasant environment for everyone,” he said, pointing to their mantra of ‘people, process and performance’.
General manager for the Strata Community Australia (Vic), Rob Beck, pointed to the strengths that secured them the award.
“Engine evidenced portfolio growth, staff growth, and are committed to internal training &amp; development programs - they have gone to another level in winning this Award for a second consecutive year,” he said.
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Engine Property Group recieve strata award for second consecutive year

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The Melbourne-based developer Villawood has secured another south-east Queensland development site.
It is a 233-hectare site with approval for 150 plus rural-residential lots at Kingsholme in the Gold Coast hinterland.
Lots will be typically 5,000 square metres.
The sixth acquisition by Villawood over the past year is close to the 86-hectare Gold Coast Country Club in Helensvale which Villawood acquired earlier this month.
The Helensvale site has potential for 1,200 dwellings. 
Established by Rory Costelloe in Bendigo in 1989, the private developer turns over between $200 million and $250 million a year, securing about $23 million in pre-tax profits, according to a recent Australian Financial Review article.
The developer has an active and future land bank of over 19,000 lots.
Villawood Properties’ co-executive director Tony Johnson said that the site in Kingsholme was an opportunity the company "couldn’t pass up."
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“This stunning property is elevated, meaning our buyers will benefit from incredible views to the Gold Coast, Stradbroke Island and the Hinterland, making it one of the most enviable locations in this region.
“Located half way between Brisbane and the Gold Coast, makes this land very appealing to those who want the best of both worlds – to work in the Brisbane CBD, but still be able to come home and be close to the beach on the Gold Coast," he said.
There are six schools all within a seven kilometre radius of the site and the Ormeau Train Station is two kilometres away.
Works are expected to commence in mid-2015. 
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Villawood buys another south-east Queensland development site

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Strong residential sales contributed to Mirvac posting a strong profit for the year, up from $139 million to $447 million.
And Mirvac signalled plans to "accelerate releases and pushing price where appropriate." 
The property group secured $1.2 billion in residential pre-sales contracts and settled 2,482 residential lots. 
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Some 50% of Mirvac’s future expected revenue will be derived from apartments, the veteran apartment developer announced. 
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The Mirvac CEO Susan Lloyd-Hurwitz described the year as “tremendously successful” on the profit release today.
"Our residential business performed well in FY14 with market conditions improving in key locations.
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"We acquired $248 million of residential development projects over the year, substantially restocking the development pipeline to provide long-term earnings benefits to the group. 
"All acquisitions were on-strategy and are expected to deliver a weighted average IRR of more than 18%.
"In addition to this, we completed seven englobo sales ahead of schedule, providing an opportunity for the redeployment of cash across the business." 
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Total revenue rose 26% to $1.982 billion for the year. Operating profit was $337.6 million.
Lloyd-Hurwitz said Mirvac achieved a 10.5% development return on invested capital at year end, ahead of its target of 10%, and "we substantially restocked our residential and commercial development pipeline to deliver future earnings”.
However the result suggested the strong sales and price momentum in 1H14 carried through at "slightly reduced" pace into 2H14.
"Further price growth expected, albeit at a more modest pace," it suggested though ncreased stock levels were insufficient to overcome national undersupply.
The report acknowledged high levels of activity from offshore buyers in select locations and product types.
"Demand volumes will continue to grow; driven by tight rental vacancy, population growth and strengthening economy."
The report suggested the residential recovery was "likely to extend beyond Sydney into other capital cities" as a result of population growth, sustained low interest rate environment and general undersupply nationally.
Mirvac said it was focussed on "developing and acquiring residential development projects in line with strategic mandates targeted to deliver gross margins of 18% to 22%."
 
Mirvac said the residential market was supported by strong financial fundamentals 
—  Modest credit growth does not indicate signs of overheating
—  Role of investors in the market is strong, although upgraders have grown by a greater proportion across all markets
—  Households have improved net debt positions significantly driven by increased savings.
 
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Mirvac joins the strong profit season for property developers

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Victorian real estate agencies Barry Plant and hockingstuart have partnered to launch YourPorter.
The new industry-run business allows real estate agents to connect renters with electricity, gas, water, telecommunications and pay television services, and delivers benefits YourPorter to agents. 
According to Nigel O'Neil, managing director and chief executive of hockingstuart, agents will receive commissions and equity in exchange for referrals to utility suppliers including AGL, Origin, Telstra and Foxtel.
“Agents are the sole source of leads for utility connections businesses, yet traditionally their commissions have been relatively low,” says O'Neil.
“YourPorter’s mandate is to ensure that real estate businesses derive maximum value from utility connections on both an income and capital basis.
“We’re doing this by paying industry leading commission rates and allocating 47% of the equity in the YourPorter business directly to the agencies that refer utility connections. This type of opportunity does not exist with our competitors,” he explains.
Barry Plant Real Estate chief executive Mike McCarthy says "YourPorter is about regaining a level of control over our data and relationships", given the "concerning level of influence" third party businesses like property portals have with clients. 
"As real estate agents, we’re increasingly realising the importance of leveraging our client relationships to create value in our business," he notes.
Tony Zarka, the former national business manager of Direct Connect Australia, will oversee YourPorter as general manager. He claims the service is a "game changer".
"It’s taking the reins off external providers and provides consumers with a service that is convenient, fast and reliable because it’s in the hands of the people who really understand the property market and the dramas of moving house – real estate agents,” he says.
The business offers a same-day connection guarantee, and an emergency accommodation option if required. Through the "Porter Club" incentive scheme, individual real estate agency offices can also give employees "points" that can be converted into dollars on a personal debit card.
YourPorter had a "soft launch" in late 2013 across Barry Plant and hockingstuart agencies, and is now offered to the national real estate industry. According to O'Neil, Buxton, Hodges, Fletchers and Jellis Craig have supported the business.
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Barry Plant and hockingstuart launch utility connections service for renters

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The former Commonwealth Bank of Australia boss Ralph Norris will be the next chairman of the New Zealand based building products group Fletcher Building.
He will take over from the long-serving Ralph Waters who will retire on 21 October following Fletcher's annual general meeting, bringing an end a 13-year involvement with the company.
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Fletcher Building released its full-year results yesterday with its net profit for the 12 months to 30 June at NZ$339 million (A$308.49 million) up from NZ$326 million in the prior financial year.
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The 2014 net profit was hit by a NZ$3 million one-time cost.
Fletcher Building chief executive Mark Adamson said the underlying result was strong, with double-digit earnings growth despite currency headwinds and mixed trading conditions in Australia.
Fletcher Building is the biggest company on the NZX 50 Index.
The construction and building products company is benefiting from rising construction activity especially rebuilding work in the earthquake struck, Canterbury.
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Ralph Norris to chair Fletcher Building

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Billionaire Lang Walker told Bloomberg  last week that property prices in Sydney and Melbourne have climbed too much.
It was in part an explanation to why his focus is increasingly Malaysia.
“Sydney is a little too hot at the moment,” Walker, executive chairman of Walker Corp, said in an interview in Singapore.
“Melbourne has gone through a period of intense growth and that’s plateaued off.
"The residential market in Brisbane, in Queensland state, still has some potential, he said.
Walker is converting land, previously used for prawn-breeding farms, into swanky apartments, the Bloomberg report said.
 The Johor project in southern Malaysia is expected to be valued at about $US7.5 billion along with an adjoining plot it will develop with a Singapore-based company.
Walker Corp made its foray into Asia in 2008 to develop <a href="https://www.senibongcove.my" target="_blank">Senibong Cove, a waterfront residential project</a>.
Walker said he is looking to increase investments in the Johor region after putting in about $2 billion in the Senibong Cove project. 
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Walker Corp pursuing more Malaysian residential projects

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GUEST OBSERVATION
My career in real estate began as an interest. I had bought and sold a couple of properties personally, lived overseas, raised two small children and took it up as what I called ‘my fun, little part-time job.’ Back then, I loved getting into a suit three days a week and going off to work, doing open homes, doing call backs, organising my boss and helping her find business and winning listings. I loved it.
While I was doing this, I learned as much about real estate as I could, not because I wanted to be a gun agent but because I loved it. When you love something it's pretty normal behaviour to want to know as much about it as possible - I guess I get pretty passionate about things.
A career in sales is not for everyone, but for those who excel in it, it can be a very rewarding occupation. Starting off in real estate can be very daunting and as a ‘newbie,’ looking around and admiring all the top agents in the area often leaves people thinking, "could I possibly be as good as them?” There is so much to learn and this job is so varied. 
My light bulb moment came one day after being with the company for more than five years. After seeing so many mediocre agents out there in the industry I wanted, and chose to be, one of the good ones.
How was I going to be a successful real estate agent? I was lucky enough to work (and continue to do so) with a great team of sales experts and watched and listened and learned from all of them. In fact, I’m still learning and in this occupation, you can never stop learning.
I also had a strong belief that I could put my six years of experience into practice - one step at a time. For six years I had told everyone I knew that I was in real estate, so when I was ready I made it known to them again. My database had grown, my kids went to the local primary school and I started sponsoring the school and working my little patch.
From day one I have believed that if you treat people really well for their benefit, it all comes back to you, time and time again. Most importantly, I believed in myself.
Each year I would set a goal and I knew I was the only one accountable for this. Each sale I made, I ran with it, dropping my ‘just solds’ around the whole area, ringing around my database. One sale at a time. For the first year I never once looked at my debit/credit – whether I was actually making any money. Each year my goal was to sell one more property (not based on earnings). This is still my goal.
When I look back at my career and advise younger agents, there are three clear attributes that successful real estate agents generally possess.
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<li>Pick the area you want to work in for the rest of your career and become the area specialist, the communities trusted advisor. Own your patch, work your patch and aim to become the agent of choice. Always deliver on a promise, and return all enquiries on the same day. If you are good to people (honest, fair and provide exceptional service), they'll be good to you. Connect with as many people as you can as you’ll only ever reach as far as your network allows. </li>
<li>Set realistic goals and work hard to achieve them. Don't get caught up looking at the dollar signs, focus on how many listings you can get. Slow and steady wins the race, working on improving your skills and building your listings is the path to success. Goal-setting is crucial. Success doesn’t happen overnight and you may not start making money for a year or two. Take a long-term approach. </li>
<li>Success takes dedication and sacrifice. Be disciplined and set your own winning formula. Constantly think of ways to improve. Work harder than anyone else when you are new. Be confident. Be humble. Don't waste time, be adaptable. It will be a hard slog to begin with but if you aim to build momentum and continue to work hard you will succeed.</li>
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Stephanie Hearne has been awarded <a href="https://www.century21.com/" target="_blank">Century 21</a>’s top Australian salesperson for the past three consecutive years.
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