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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The much-anticipated national industry-owned portal will be called Squiiz.
The bizarrely named website is billed as taking on the News Ltd REA and Fairfax Domain property website powerhouses.
Launch meetings will <a href="https://www.squiiz.com.au" target="_blank">commence next month</a>.
The name relates, with an extra i, to squiz, the Australian slang for 'to have a look'.
Its member base indications currently incorporate 60% plus of the major estate agency market, the chief executive of the new portal, Nick Christian told the Real Estate Business website.
He went onto claim his “marketing and creative team has done an outstanding job developing a best-in-class brand communication and launch strategy around Squiiz, and we are excited about the prospects of what we can do with such a unique brand”.
<a href="https://www.facebook.com/squiiz.com.au" target="_blank">It now has a Facebook site</a> with 57 likes. There are nine followers on its <a href="https://twitter.com/squiizproperty" target="_blank">Twitter </a>account.
Although its has been billed as arising from recent pricing concerns, Property Observer notes the "Squiiz Property finds You" trademark number was lodged in August 2013. 
Yesterday, Property Observer reported on Applabs Australia’s <a href="https://www.homeopen.com/" target="_blank">Home Open</a> website<a href="/news/new-property-listings-website-set-to-challenge-industry-giants"> that launched last Monday</a>. Home Open also intends to challenge the dominance of REA and Fairfax Domain in the online listings market.
{module Do you think prospective vendors will want to list their homes on a website called Squiiz?}
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jchancellor-FAypfDUnLy

Can Squiiz seriously challenge REA and Domain?

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iProperty Group has been forced to write down $4.6 million from its Singapore business after an intervention by the Australian Securities and Investments Commission.
The ASX-listed company failed to account for a change in market conditions in its December 2013 financial accounts.
The business owns property listing websites throughout south-east Asia, including Malaysia, the Philippines, Indonesia and Singapore. 
The company has updated its accounts for June to reflect the impairment.
ASIC welcomed the announcement.  ASIC reviewed the iProperty Group financial report as part of its ongoing financial reporting surveillance program.
Following inquiries of the company to understand its impairment testing methodology, ASIC questioned the recoverable amount of the Singapore business, and in particular, the iProperty Group’s use of fair value as a basis for estimating the recoverable value. iProperty Group had applied AASB 13 Fair Value Measurement for the first time for the reporting period ended 31 December 2013.
By estimating fair value, iProperty Group was required to apply that standard’s definition of fair value which requires entities to maximise the use of market-based inputs and assumptions.
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iProperty write down $4.6 million after ASIC review

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Australian real estate startup <a href="https://openagent.com.au/">OpenAgent</a> has closed a $1 million funding round, which included investment from Pete Flint, co-founder of US online real estate giant Trulia.
OpenAgent is a platform that provides rankings of all real estate agents based on past sales and customer reviews, and helps home owners connect to the best agent in their area when for their property.
OpenAgent co-founder Zoe Pointon says by and large it’s a service that real estate agents want.
“We’re not about naming and shaming, we’re really interested in putting a light on people that are doing a great job,” she says.
“Those people are thrilled to have an independent party backing up what they’re trying to say.
“Reaction from real estate agents has been really excellent, they are very conscious we can help them promote themselves and get more business.
“But anything that tries to put a bit of transparency into an industry that is lacking it, is always going to be a little bit controversial.”
The $1 million round, brings the startups total funding raised to $1.4 million, following on from an initial round of $400,000 last year.
The funds will be used to increase the OpenAgent team and its marketing presence.
“One of the challenges when you’re a super new service, you can’t just rely on pull type marketing, because there’s not enough people out there searching for free real estate agent reviews,” Pointon says.
“We’ve been testing a range of marketing channels, and seeing how to scale those.”
Other notable investors taking part in the fundraising round include One Big Switch co-founder Paul Hunyor, and Ellerston Capital advisory board member Anthony Klok, whose previous investments include Temando and Deals Direct.
Pointon says she and fellow co-founder Marta Higuera couldn’t have picked an investor more suited to OpenAgent than Flint, who recently sold Trulia to Zillow for $3.5 billion.
“Having Pete Flint come on board as an investor and advisor is just huge,” she says.
“Pete knows this space better than just about anyone, having built Trulia – one of the world’s biggest online real estate businesses – from the ground up.
“Pete loves what we’re doing, and clearly thinks OpenAgent has a bright future. You can’t get a better vote of confidence than that.”
This article first appeared on <a href="https://www.startupsmart.com.au/" target="_blank">StartUp Smart.</a>
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Real estate startup OpenAgent scores $1 million in funding

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<div>
The Bank of Queensland chief executive Stuart Grimshaw has resigned to pursue a non-banking opportunity outside Australia at a small financial services company in the United States, the NASDAQ listed Ezcorp which owns the Cash Converters franchise. It also has outlets in Mexico through Grupo Finmark and the UK through Cash Genie.
Last month, the leading provider of easy cash solutions for consumers, announced that Mark Kuchenrither, the chief financial officer of EZCORP, had been appointed interim chief executive officer by MS Pawn Limited Partnership, the majority shareholder.
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The bank chairman Roger Davis said the board was disappointed.
His appointment was announced in August 2011 and after selling in the tony Sydney suburbs of Killara and Whale Beach, Grimshaw joined BOQ on 1 November 2011, succeeding David Liddy, who has been the chief since April 2001.
The board recently confirmed that the bank was on track to report full-year cash earnings after tax in line with consensus estimates of $298 million.
The results will be reported on 9 October.
The bank is one of the oldest financial institutions in Queensland, with a network of around 270 branches, including 152 in Queensland, 52 in New South Wales, 23 in Victoria and 34 in Western Australia.
The AFR Chanticleer columnist Tony Boyd reported Grimshaw maintains "pawn brokers offer similar services to the banking by the Medicis in Venice in the 1400s."
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Bank of Queensland chief Stuart Grimshaw quits after three years for NASDAQ-listed easy cash

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Calling itself the fastest growing property portal in Victoria, reviewproperty.com.au has re-launched its website and will be spending half a million dollars on a mixed-media advertising campaign at the end of the month.
Simultaneously, REA Group will be running their already infamous <a href="/news/left-field-realestate-com-au-puts-wagga-wagga-on-the-map-with-weird-arnold-schwarzenegger-ad">Arnold Schwarzenegger TV advertisements</a>.
The reviewproperty.com.au site is a partnership between 11 different Melbourne real estate agents, representing 250 offices, and Metro Media Publishing.
MMP’s chief operating officer Trent Casson said that it had been a success since its November 2012 launch and is profitable.
He notes it is sold as a package with Domain.
“We employ a dual brand strategy, with domain the national listings portal, and reviewproperty carrying those listings but also providing relevant, suburb-specific information that genuinely assists buyers and sellers in their decision making,” he said.
“The analysis clearly shows people value this information. Our audience is growing and time spent on site is up significantly.”
He notes that premium listings are up 40% year on year for July. The website includes features ranging from live auction and sales results, weekly market wrap videos with a summary of the different market activity across Melbourne, more first in market listings than other websites and ‘hyper local’ content with lifestyle, local news, suburb profiles and other details.
They’re set to spend $500,000 on a television, radio, magazine and newspaper campaign for the site that is expected to begin in late-August.
These will be in competition with REA Group’s realestate.com.au advertisements featuring Arnold Schwarzenegger.
The advertisements, called the Australia Lives Here campaign, is a series of seven television commercials airing over the course of several weeks. The first ad in the series was advertised on all free to air, subscription Australian commercial television and major digital advertising networks at once. It was estimated that 2.7 million viewers saw the ad at the same time.
Group manager marketing strategy for realestate.com.au, Natalie Feehan, said that it’s the result of six month’s work.
Their new video, Local Knowledge, has just gone live on Youtube. It currently has under 1,000 views.
{qtube vid:=PXxfSegE5L4}
The 'Landing in Australia' video on YouTube from REA (below) has 30,000 plus views.
{qtube vid:=8VKoOyv4h08}
YOU MIGHT ALSO WANT TO READ
<a href="/news/how-an-australian-ad-agency-convinced-arnold-schwarzenegger-to-appear-in-its-ads">How an Australian ad agency convinced Arnold Schwarzenegger to appear in its ads</a>
<a href="/news/left-field-realestate-com-au-puts-wagga-wagga-on-the-map-with-weird-arnold-schwarzenegger-ad">Left-field realestate.com.au puts Wagga Wagga on the map with weird Arnold Schwarzenegger ad</a>
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Real estate sites spending big on advertising campaigns

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The REA Group is looking to trademark “realestate.com.au”, in a move that has irritated the Real Estate Institute of Australia (REIA) who are now asking them to withdraw their application.
REIA president Peter Bushby says that it could affect other companies’ ability to use the term “real estate” in their titles.
“Given recent media reports about REA Group, their timing with this latest move to register realestate.com.au could hardly have been worse,” said Bushby.
“REIA encourages competition through quality service delivery. REA once again appears to be making a technical grab for control of those things that belong to the industry at large. It has in the past tried to prohibit others from using the words “real estate” in their domain names.”
He notes a case where Real Estate 1 Ltd in October 2010 faced proceedings from REA Group against them for the use of their trading and domain name realestate1.com.au.
The court records, however, show that the realestate1.com.au business was directly intending to be competitive.
“Mr Luff was aware of REA’s realestate.com.au property portal business and understood that the property portal he intended to establish would be in direct competition with REA’s portal,” the records note.
He also had the site realcommercial1.com.au.
“REA makes no complaint about Real Estate 1’s use of the mark “realestate1” but when that mark is used in conjunction with “.com.au” in relation to the websites of Real Estate 1, REA claims that such use infringes its registered trade marks,” the court documents reveal.
“In my view, Real Estate 1’s use of the Real Estate 1 logo is not deceptively similar to REA’s realestate.com.au trade marks. I have arrived at the opposite conclusion in relation to the realcommercial.com.au trade mark and the use by Real Estate 1 of the realcommercial1 logo,” the judge noted.
“I have found that by using the marks realestate1.com.au and realcommercial1.com.au, Real Estate 1 infringed REA’s trade marks in all but one of the different uses alleged by REA. Otherwise, REA’s claims expounded at trial have failed.”
However, during the proceedings it was noted that “real estate” and suffix is a natural choice for many looking to indicate a real estate portal, noting that another of the three most popular portals – realestateview.com.au – has this feature.
Here were the others identified by the court as having this feature:
<ul>
<li>therealestate.com.au</li>
<li>realestateone.com.au</li>
<li>realestate1st.com.au</li>
<li>realestateworld.com.au</li>
<li>ingrealestate.com.au</li>
<li>realestateguide.com.au</li>
<li>realestatesource.com.au</li>
<li>westrealestate.com.au</li>
<li>abcrealestate.com.au</li>
<li>prime-realestate.com.au</li>
<li>loverealestate.com.au</li>
<li>bellrealestate.com.au</li>
<li>realestatewa.com.au</li>
<li>realestateplus.com.au</li>
</ul>
Bushby 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. {module Do you think REA Group should withdraw their trademark application for “realestate.com.au”?}
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Should REA Group be able to trademark “realestate.com.au”?

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He is a household name in Hollywood and the former governor of California, but Arnold Schwarzenegger’s latest role has a distinctly Australian bent.
The famous bodybuilder-turned-actor-turned-politician is the <a href="/news/left-field-realestate-com-au-puts-wagga-wagga-on-the-map-with-weird-arnold-schwarzenegger-ad">face of the latest RealEstate.com.au advertising campaign</a>, as the online property site repositions itself to become a destination for much more than just property listings.
Arnie is just one part of RealEstate.com.au’s ‘Australia Lives Here’ story—the main character is Dylan, an Aussie who went looking for fame in Hollywood and ended up working for The Terminator star — and the campaign incorporates all facets of social media as well as TV and online video commercials.
The campaign was created by Australian advertising agency BWM, whose executive creative director Murray White and <a href="https://www.smartcompany.com.au/leadership/profiles/42829-bold-horizons-how-mark-watkin-brings-an-entrepreneurial-streak-to-independent-advertising-agency-bwm" target="_blank">Melbourne managing director Mark Watkin</a> said they used their Los Angeles connections to get the star involved.
“We believed we could get Arnie based on our contacts, and we’d both worked with celebrities before,” says White.
Seven of the campaign’s ads will feature Arnie, who confuses Australia with Austria and then goes on a journey of discovering the country, aided of course by RealEstate.com.au. Arnie’s clips were filmed in the one day, with the whole shoot taking three days, says White.
“Arnie has that star factor and [featuring him in the campaign] would allow us to announce REA in a bigger way,” he says. “He was the perfect choice.”
“Arnie has this amazing comedic talent that everyone has forgotten about and we knew if we could get the ‘funny Arnie’ on the day, we would have something special,” says White.
But BWM did not start out with the idea of building a campaign around Arnie. Instead, the campaign started with the simple aim to “take Australia’s number one real estate site and convince people it is about more than just listings”, says White.
“Property is such a national passion but it’s also a personal thing so we wanted to tap into this personal significance,” he says. “So it made sense to use Arnie’s journey of discovery of what REA can do for him, to show what it can do for any of us.”
“The discovery aspect is critical,” says Watkin. “We go on a journey with Arnie as he discovers this wonderful product and the accidental nature of it all provides the humour.”
But the duo says it was a conscious decision for Arnie not to become a spokesperson or representative for REA, and instead be a character in the story.
“And we made a clear blanket rule that Arnie would never deliver his well-known cliché lines,” says White. “That would have been tapping into his well-known characters instead of allowing him to grow.”
“The worst thing we could have done is given people the expected,” he says.
Watkin describes the campaign as a “confident” step for a brand such as REA and so far it has been received well: the videos have attracted more than 750,000 hits on YouTube since the launch at the start of the week.
Both White and Watkin say the process of building the campaign with REA was highly collaborative and the strong concept of ‘Australia Lives Here’ allowed the creative team to build a “narrative arc”, which will feed into an ongoing social media campaign.
“What you’ve seen so far is just the tip of the iceberg,” says Watkin. “There’s a whole back story, it’s quite a deep campaign.”
And it’s a campaign that fits squarely within BWM’s philosophy of producing content that “gets Australians talking”, says Watkin.
“It has huge talkability, participation and engagement,” he says.
{qtube vid:=8VKoOyv4h08}
This article first appeared on <a href="https://www.SmartCompany.com.au" target="_blank">SmartCompany</a>.
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How an Australian ad agency convinced Arnold Schwarzenegger to appear in its ads

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GUEST OBSERVATION
What is proposed? 
The proposal is an exemption from unnecessary real estate agent licensing requirements, and other regulation, for agents managing on behalf of ‘large professional commercial property owners’, including those agents managing for ‘related entity’ property owners (e.g. AMP’s shopping centre management arm managing on behalf of AMP-owned shopping centres).
Why shouldn’t these agents hold a real estate agents license? 
The real estate agents license is exclusively oriented to residential real estate and teaches the holder nothing about commercial property work. Large commercial property owners (such as Dexus, AMP Capital Investors and Stockland) understand fully the risks involved in commercial real estate transactions.
They do not need the protection of Parliament in their business affairs. All this does is add unnecessary costs.
Why not have a special license for commercial property? 
There is no need for a licence. Because the present license is irrelevant, large professional commercial property owners have instigated their own intensive on the job, and off the job, training for their staff.
The Property Council Academy also provides specialised professional development courses. The training of commercial property staff in Australia is admired around the world.
Will this have a major impact on commercial property? 
No. This will affect fewer than 1% of commercial property buildings and more than 96% of commercial building sales will be unaffected.
If it has such a limited impact, why bother doing anything? 
This is a major cost for commercial property owners since they have to send staff off to gain an unnecessary qualification and provide staff cover for them while they are doing so.
It also hamstrings them in making efficient staffing arrangements. This also means taxpayers’ money is being spent unnecessarily administering and enforcing this regulation.
What effect will it have on tenants? 
None. Retail tenants are protected by retail tenancy legislation (such as the Retail Leases Act) and this reform is supported by the major retailer associations. It has never previously been claimed that the estate agents legislation was a protection for tenants.
Are any other States doing this?  
Yes. The Queensland has already legislated for these exemptions in its new Property Occupations Act which is expected to begin operation in September.
The government said this was a major initiative to reduce business costs in Queensland. The Victorian government has also announced it will do the same, following a recommendation from its independent Red Tape Commissioner. 
Will this have any implications for home owners and home buyers? 
None. This does not affect residential real estate.
Will this have adverse implications for small and medium sized commercial real estate agencies? 
No. This will only benefit large commercial property owners. These do not use small commercial real estate agencies for their management. Those large commercial property owners who do use large third-party managers (such as JLL, Savills) will still opt to use those agencies because they bring professionalism and experience.
Why did State Governments require regulation and licensing of these large commercial property owners in the first place? 
This was regulation by historical accident. The original legislation was in existence prior to the rise of the professional commercial property industry in Australia and before the founding of companies such as Westfield (now Scentre Group) and Stockland. Because an agency relationship existed between these companies and their managers (even when the manager was a ‘related entity’) they were ‘caught’ by the legislation.
If this removal of regulation so minor, why are the Real Estate Institutes opposing it? 
Not all REIs are opposing. The REI Queensland supported the exemptions, although it specified a minimum threshold for defining a ‘large commercial property owner’. We agree with their minimum.
The attitude of the REINSW and REIV is puzzling since it will have such a limited impact. We have been told privately by some of their officials that they fear this will be the ‘thin end of the wedge’, leading to the removal of all licensing requirements for commercial property agents. They fear this will lead to more competition in the industry. This should not be a consideration for governments.
Is there a precedent for removing a portion of an industry from regulation? 
Yes. It is common for Parliaments to decide that there are entities that are large enough, and commercially sophisticated, to look after themselves in commercial transactions.
For example large retailers (those whose floor space is more than 1,000 square metres or whose rent exceeds a certain threshold) do not get the protection of the Retail Leases Act.
Parliaments decided that retailers such as Coles and Woolworths do not need the protections of this legislation, which was to be confined to ‘small retailers’. This is the same.
Companies as large as AMP and Lend Lease do not need to be protected in business dealings with their managers.
Is this being rushed through? 
No. Debate on this issue has been going on for more than 10 years. The ‘related entity’ exemption has been recommended (twice) by the NSW Independent Pricing and Regulatory Tribunal (IPART) and by the independent Review of the NSW Property Stock and Business Agents Act. 
Both the ‘related entity’ and ‘large property owner’ exemptions were recommended in the Regulatory Impact Statement on the proposed national license for real estate agents. Both exemptions were recommended in Queensland by the Red Tape Reduction Review of the Property Agents and Motor Dealers Act, which led to the exemptions being legislated in Queensland (see Q.6). 
Milton Cockburn is an adviser to Shopping Centre Council of Australia.
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Why real estate agent licensing requirements for large commerical property owners are unnecessary 

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Savills Australia has appointed Shammi Liang to the position of analyst.
Working with Savills' national head of research Tony Crab and Victorian head of research Glenn Lampard from the firm's William Street office, Liang will also provide support to other Savills' divisions.
Liang formerly worked in property management for Ironfish and is currently undertaking a Master of Property degree at the University of Melbourne. She is a fluent Mandarin and Cantonese Speaker.
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jrichardson-uRX5hFdKfN

Shammi Liang appointed at Savills research team

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For the first time Ray White’s group sales in July exceeded $3 billion, the first time in any winter month.
"The markets are continuing to resemble spring/summer conditions in a remarkable display of consistency," Ray White co-chairman Brian White advised, adding the consistency was across all individual markets. 
Brian White pinpointed the strength of the recovery in Queensland - noting it was "once the hardest hit property market in Australia".
 Seems the only thing holding even stronger results across our markets is the seasonal stock shortages.
"Capital cities - indeed the inner city components of our major capitals - are proving fundamental in this resilience," he said.
Ray White’s inner city New Farm office in Brisbane achieved an all time record of $50 million.
The previous July 2013 figure was $2.1 billion, although it is not a like on like figure given office openings in the meantime.
The figure includes residential, commercial and hotel sales from across its Asia Pacific network.
"Cold weather always tames our markets so we needed to be happy with our $2.6 billion for June," Brian White said in the June 2014 report.
The June 2013 sales number was $2.3 billion, up on June 2012 by 5%.
The Ray White Group’s May 2014 results of $3.3 billion took the group to equal its all time monthly record, well above the $2.7 billion notched up in May 2103. 
This year's May tally included $1 billion in NSW.
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