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

Lj Hooker

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GUEST OBSERVER
With price growth slowing in Australia’s biggest housing markets, many sellers have been pondering what is the best strategy for a strong sales result.
Prospective sellers keenly eye the auction clearance rate as a leading market barometer, and with a bumper volume of properties to go under the hammer this weekend, property pundits will have their opinions on what figure dictates a sellers’ or buyers’ market.
But when auction volumes fluctuate, the clearance rate is not the best way to determine buyer sentiment. While it indicates the percentage of properties selling via auction, it doesn’t address the number of sellers achieving success through this method. It also doesn’t capture the number of properties sold through post auction negotiations in the day following the event.
For the record, LJ Hooker, in general, believes auctions are the best method to capture a wide net of buyers in a short-time period, and offers the greatest potential for sellers to achieve a premium result. But in slowing markets, the real efficacy of auctions is laid bare.
In Sydney – the nation’s largest market – data for the September quarter showed the median house price moderated -1.9% over the period. In comparison, the median price had risen 8.2% over the last 12 months. In the second largest market of Melbourne, growth slowed to 1.3% over the quarter, however, it’s still up 13.9% gain over the year.
When price growth slows, sellers want a quick way to capture the last measurements of growth. An auction provides the market with a three to four-week timeframe to put their best offer forward.
And in slowing markets, a nominated price can often be the first thing which deters a buyer from exploring a property and assessing it for its suitability for lifestyle or location, rather than price. 
Nationwide, 18,349 properties sold at auction in the last quarter, which was a 14 per cent increase compared to the September quarter last year (16,147).
In Sydney, there were 9,968 auctions over the same period this year, compared to 8,249 for the same period in 2016. 
While the average daily auction clearance rate dropped from 76 per cent to 69 per cent over the period year-on-year, more homes sold under the hammer in Q3 this year (6,678) than the same period last year (6,517).
Economics dictates that clearance rates will increase when there is an under-supply of auctions; conversely, it’s likely that the clearance rate will drop when there is a flood of properties on the market. 
Property markets fluctuate in cycles – it’s a tenet that’s almost as certain as death and taxes. But don’t hinge your assessment of market performance on auction clearance rates – the underlying data shows more people are having success selling via auction.
David Holmes is national auction manager with LJ Hooker.
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jrobinson-rf4aSBido9

The truth about clearance rates: LJ Hooker's David Holmes

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A former LJ Hooker real estate agent has pleaded guilty to misappropriating agency trust fund money.
Tri Duc (Joseph) Ngo was charged with 302 counts relating to electronic transfers of client deposits into the bank account of a company directed by his wife while running LJ Hooker franchise offices in Melbourne's outer eastern suburbs.
Consumer Affairs Victoria agreed to strike out 143 charges as Ngo pleaded guilty before in the Melbourne Magistrates Court on Monday.
A plea hearing in the County Court is scheduled for November 8 and 9.
Ngo was required to surrender his passport, though he doesn't have one, and reside at his Rowville address.
A CAV spokesman said Ngo’s remaining charges included 125 counts of “wrongful conversion and false accounts”, which carried a maximum penalty per offence of “a term of imprisonment of not more than 10 years” or a $77,730 fine under the Estate Agents Act 1980.
His wife Truc Thanh Le (Judy) Nguyen has pleaded not guilty to similar charges.
She is due to appear at the Magistrates Court for a one-day committal hearing on November 1.
The court was previously advised about $4 million had gone missing, but some had been paid back so the total loss was $2.1 million.
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j.ballantyne1990-6AQqhLzZaK

Former estate agent Joseph Ngo pleads guilty to trust fund misappropriations

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LJ Hooker’s intended DIY property selling platform Settl, while launching the 88-year-old company into a new tech era, is already having a disruptive internal impact before it starts, with fears there will be undercutting of the commissions of its loyal sales agents.
The yet to be launched online <a href="https://settl.com.au" target="_blank">Settl </a>platform, which had been timed to commence in the second quarter of 2017, but seems delayed, or even on the back burner, will encourage vendors to sell their homes by themselves for a low fixed fee, in an response to property disruptors such as Purplebricks and buyMyplace.com.au.
Property Observer gleans it will on launch adopt the logo "Pay less, Settle for more."
Purplebricks, buyMyplace and forsalebyowner are all slowly growing their share of the Australian property market due to their low-cost, fixed-fee model.
Settl will include the pricing option of assistance of a Settl estate agent if the vendor wishes to have assistance with open-for-inspections and auctions. 
LJ Hooker’s Settl will be run as a stand-alone entity although seemingly directed by the network's current leadership team who have faced franchisees who've threatened to depart.
Settl has been in research and development by LJX-Lab for the past 20 months.
Settl is led by an expert tech-startup team including players from pioneering tech-giants Uber, Atlassian, Freelancer and Airtasker.
Headhunters Mitchelake have closed applications to find its chief executive who has been tasked with leading "an aggressive business/market development strategy in Australia."
A landing page, while unconfirmed, suggests it is a "smart, nimbler real estate service."
The hybrid model will be scaled up in partnership with LJ Hooker’s own network to cater to the new consumer.
Settl is part of LJ Hooker’s $100 million digital transformation. 
The real estate agency, founded by Sir Leslie Hooker in 1928 and still part owned by grandson Janusz Hooker, is in the midst of a transformation. Earlier this year LJ Hooker's CEO Grant Harrod unexpectedly resigned after the company scrapped plans to list on the ASX.
The most recent development has been that of former Aussie Home Loans CEO Stephen Porges joining in an advisory role, although market chatter points to him becoming the next chief executive following the departure of Harrod.
Earlier this year, LJ Hooker scrapped its IPO as real estate franchise businesses came under pressure from a deterioration in property listings and the threat of technologies.
Chairman Janusz Hooker has likened the launch of Settl to when Qantas created low-cost carrier Jetstar to service a different market segment.
"These will be two brands – LJ Hooker and Settl – serving two distinct customers," Hooker told The Australian Financial Review recently.
Hooker said Settl would cater to the needs of millennials and "digital natives" who wanted to "pay less and do more themselves".
But the traditional, commission-based model is not going anywhere, he stressed. Usually, commissions vary from 1.5 percent to 2.5 percent of the selling price.
"Part of the market still wants to fly Qantas, but there's a new market that wants to fly Jetstar. We're creating a new market – it's not a zero sum game. The launch of hybrid real estate businesses has increased the size of the market," he said.
Pricing for Settl has not yet been revealed, but is expected to be competitive compared with other DIY platforms.
L Janusz Hooker said Australia is on the cusp of a wave of property innovation.
“We have been closely monitoring global trends for several years, and have seen new models gain momentum in overseas markets like the UK.
"Settl will open up this new market in Australia, giving digital-natives the choice and control they want,” he said. 
"In Australia, this segment is estimated to only be a few percent of today’s market, however it could grow up to 10 percent by 2025."
Mr Hooker commented that Australia was a unique market with its own distinct circumstances - "and we’ve seen time and time again that standardised overseas models are not overly successful here." 
“We see the ongoing human value added from agents a critical part of real estate services into the future. To ensure customer satisfaction, Settl’s unique hybrid “online to offline” model aligns the agent 100 percent with the vendor’s result.”
Josh Rowe, CEO of property price prediction app realAs.com, has welcomed the new LJ Hooker venture.
"A company that is not prepared to cannibalise their own business to meet customers' changing needs will eventually fail," Rowe told the AFR.
"Netflix was originally a DVD mail order business with 20 million users at its peak. Now as a streaming service it has 99 million users," he said.
"Perhaps LJ Hooker is the Netflix of real estate in Australia."
Graeme Hyde and Bryan Weir are heading the venture, with oversight by Esther Selvanayagam, the financial chief since February 2017. 
Hyde is the exisiting network chief having joined the real estate industry in 1995 after 15 years in television and radio. He joined the LJ Hooker network in 2001 when he took over the LJ Hooker office in Port Macquarie and was inducted into the Captains Club in his second year with the network and Multimillion Dollar Chapter in his third year. 
Bryan Weir joined the board of LJ Hooker in 2014 after 35 years of corporate and business experience including time at Freeholds and Macquarie Bank.
Weir is keenly involved in the sport of rowing, being the President of Mosman Rowing Club from 2004 until 2009.
Earlier this month they watched as their Mosman-based LJ Hooker Lower North Shore group joined the Ray White network in a shock defection.
LJ Hooker Lower North Shore has been operating for 60 years and employs more than 50 people.
It has been run by the same directors for the last 20 years.
LJ Hooker Lower North Shore directors Richard Harding, Geoff Smith and Bernard Ryan are to undertake the re-brand, seeing the potential for expansion across the region from their already large footprint. Since Property Observer previously reported LJ Hooker agents jumping ship to Ray White, LJH has advertised in print publications for their replacement.
Agents across the group and industry have expressed concern at the LJH Settl initiative saying "flat fees aren't the answer."
"We have an over supply of agents, and the value is being lost as a seller when agents operate just as a tour guide at the opens.
"Agents should be looked at as an investment in the sale," one agent said adding Settl "just creates more opportunity for crappy agents."
 
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jchancellor-FAypfDUnLy

Settl, LJ Hooker's DIY hybrid property sales platform to take on disruptors 

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Two former LJ Hooker Glen Waverley real estate agents charged with misappropriating funds from a trust helped themselves to $4 million but have repaid some of it, a court has heard.
Tri Duc (Joseph) Ngo and Truc Thanh (Judy) Nguyen are charged with misappropriating funds, after the final loss was calculated at $2.1 million, Fairfax media reported.
JNT operated businesses including LJ Hooker branches in Keysborough, Mount Waverley, Glen Waverley, Burwood, Doncaster and Box Hill.
Joseph Ngo has indicated he will plead guilty to about 300 charges, but his wife, Judy, may fight the charges.
Ngo says he was the only one with access to the trust account and he was the one who conducted the offending.
Tri Duc Ngo , a former Glen Waverley real estate agent, and his wife are accused of dozens of electronic transfers from rental and sales trust accounts into a company JNT Law Investments for its own use.
In the Melbourne Magistrates Court today, the lawyer for the accused, Erol Cinar, asked for a five-week adjournment of the matter, saying he was going overseas for a week and needed to meticulously analyse voluminous files. 
Nine internal Consumer Affairs witnesses and 19 other witnesses were on standby in case they were required to give evidence at a committal hearing.
The case was adjourned until June 2 for committal mention.
Nguyen was recently trading again, working as a business development manager at Springvale Real Estate business, Oz Capital.
Mrs Nguyen, who as at last April had a property portfolio <a href="https://www.domain.com.au/news/lj-hooker-agent-at-centre-of-collapse-claims-she-was-victim-of-elaborate-conspiracy-20160430-goivv4/" title="">estimated at $4.65 million</a>, offered for sale her two Narre Warren North homes earlier last year without success. The two houses are at <a href="https://www.realestate.com.au/property/2-4-cranston-cl-narre-warren-north-vic-3804" target="_blank">2-4 Cranston Close</a> and <a href="https://www.realestate.com.au/property-house-vic-narre+warren+north-122627030" target="_blank">6-8 Cranston Close</a>.
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Former LJ Hooker agents charged with fraud face court

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LJ Hooker is set to open up to five new offices in the coming months on Sydney's lower North Shore.
It comes as LJ Hooker mutually ended its franchise agreement with the directors, who operated LJ Hooker Mosman. 
"The move gives LJ Hooker, which has been an iconic brand on the lower North Shore for more than 70 years, the opportunity to open more offices to service the blue chip residential addresses of Mosman, Cremorne, Cammeray, Kirribilli and Neutral Bay," LJ Hooker Network Chief, Graeme Hyde said.
He noted the franchise agreement with the Mosman directors was due for renewal next year.
“The Lower North Shore is one of the most lucrative and vibrant real estate markets in Australia and, as such, we now have the opportunity to open a number of new offices in the area, in lieu of just one, to expand our presence and better serve our customers,” Mr Hyde said.
“LJ Hooker Mosman has always been one of our stronger offices but in this lucrative and fast growing market we believe there are even more opportunities that could be capitalised on. 
“After three generations of ‘LJ Hookers’ being part of the fabric of the lower North Shore, we’re now ready to support a new generation of passionate and enthusiastic business leaders to see us continue to grow in that area.
“The success of offices in this key area is a testament that when you come to our brand and engage in our franchise offering, we can accelerate your businesses success.”
The announcement comes on the back of The Mosman-based LJ Hooker lower North Shore group joining the Ray White network in a shock defection last Friday.
LJ Hooker Lower North Shore directors Richard Harding, Geoff Smith and Bernard Ryan are to undertake the re-brand, seeing the potential for expansion across the region from their already large footprint.
Last October the veteran agent Kingsley Yates departed the Ray White group ending his three decade long franchise association due to "differing directions."
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LJ Hooker responds to Ray White defection by Mosman office

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The Mosman-based LJ Hooker Lower North Shore group is joining the Ray White network in a shock defection.
LJ Hooker Lower North Shore has been operating for 60 years and employs more than 50 people.
It has been run by the same directors for the last 20 years, having come to the fore under the prior stewardship of the late Ron Wilson.
LJ Hooker Lower North Shore directors Richard Harding, Geoff Smith and Bernard Ryan are to undertake the re-brand, seeing the potential for expansion across the region from their already large footprint.
Last October the veteran agent Kingsley Yates departed the Ray White group ending his three decade long franchise association due to "differing directions."
It was reported his departure was the most dramatic sign that the future of franchise is set for turbulent times given lowered agent commissions along with the market listings contraction while all the time lumbered with geographic boundary restrictions of the franchisor. In a small way, the Purplebricks incursion has set the cat among the pigeons too.
There are also whispers a small father-son LNS office is set to be snapped up by the burgeoning ASX-listed, The Agency.
On the Yates exit from the Ray White Lower North Shore last October, Ray White head office indicated it had been keen during the renewal negotiations for wider penetration.
So while it has taken many months longer than anticipated Ray White is now likely to set up more offices across the lower North Shore as an outcome of the defection by the trio and their team.
Ray White Lower North Shore was the largest North Shore agency in the Ray White Group, with a team of 60.
The LJH Mosman move to Ray White represents "a long term strategic step for both businesses" in one of Australia’s largest and most dynamic pricey real estate markets.  
Harding said there was no doubt his business had been operating at its highest level.
“We are incredibly proud of what we have achieved over the past 20 years - and thankful to LJ Hooker for their support and commitment over that time,” he said.
“However we know we are ready to take the next step and have put significant thought into this decision.
“Joining the Ray White Group provides the ideal vehicle for us to become an even greater force in our local area.“
LJ Hooker Lower North Shore director Geoff Smith said the new partnership gives access to the ambitions and values of the White family.
Ray White Group director Dan White, fourth generation of the 115-year-old White Family owned business, welcomed LJ Hooker Lower North Shore.
“This promises to be one of the most important partnerships we have ever entered into and we expect the changeover will formally occur before the end of the financial year,”  Mr White said.
“The re-brand of this exceptional business is the first step in a strategic plan that Ray White has been working on for quite some time that specifically targets Sydney’s crucial lower north shore region, one of the key property markets in Australia.”
LJ Hooker Lower North Shore were a leading office in the LJ Hooker Group and achieved record results in March and again in April.
It operates four departments - residential and prestige property sales, their specialised Urban Living apartment and townhouse sales division, property management, projects and development, managed by director Tim Abbott, as well as retail and commercial, managed by director Scott Stephens.
 LJ Hooker Lower North Shore directors Richard Harding and Geoff Smith pictured above.
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LJ Hooker Lower North Shore jumps ship to take Kingsley Yates's Ray White office

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A former LJ Hooker real estate agent charged with diverting and using millions of dollars of clients' money held in trust accounts plans to plead guilty, but his wife will contest the accusations. 
Tri Duc (Jospeh) Ngo , a former Glen Waverley real estate agent, and his wife Truc Thanh Le (Judy) Nguyen are accused of dozens of electronic transfers from rental and sales trust accounts into a company JNT Law Investments for its own use. 
The couple appeared in court earlier this week for a committal mention.
The couple’s lawyer, Erol Cinar, told the Melbourne Magistrates Court that Ngo was the only one with access to the trust account and he was the one who conducted the offending, Fairfax Media reported.
Truc Thanh Le (Judy) Nguyen would plead not guilty to all charges, Cinar said.
JNT operated businesses including LJ Hooker branches in Keysborough, Mount Waverley, Glen Waverley, Burwood, Doncaster and Box Hill.
Ngo faced 188 charges, with an extra 114 new charges recently added by prosecuting agency, Consumer Affairs Victoria.
His wife was originally charged with 216 breaches of the Estate Agents Act, and has had 113 added, after approval from the Office of Public Prosecutions.
The offences involve taking tens of thousands of dollars at a time from trust accounts, where money is held by agents on behalf of clients.
Lump sums ranging from $500 to $700,000 were allegedly taken from the trust accounts during 2015 &amp; 2016. 
Consumer Affairs has approved 59 property fund claims to JNT clients, exceeding $2 million.
A total of $34,565 has been paid to 21 claimants owed money from the agents’ rental trust account.
The case will return to court on May 19 for further committal mention.
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Former LJ Hooker agent to admit trust account fraud, court hears

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LJ Hooker's think-tank LJX-Lab has developed an online and offline real estate agency model to work in partnership with the LJ Hooker business.
Named Settl, it is led by a start-up team staffed with people from Uber, Atlassian, Freelancer and Airtasker. It has been in development for 18 months and is expected to launch Q2 2017. 
L Janusz Hooker, chairman LJ Hooker, said LJX-Lab is perfectly placed to create and commercialize PropTech like Settl in Australasia.
“Australia is on the cusp of a wave of property innovation. By leveraging our global network of 650 offices and partners to identify the best home grown inventions and entrepreneurs, LJX-Lab is in a unique position to develop and launch technology for the real estate industry," he said.
“We have been closely monitoring global trends for several years, and have seen new models gain momentum in overseas markets like the UK. Settl will open up this new market in Australia, giving digital-natives the choice and control they want,” he said.
 “Australia is a unique market with its own distinct circumstances - and we’ve seen time and time again that standardised overseas models are not overly successful here.
“We see the ongoing human value added from agents a critical part of real estate services into the future. To ensure customer satisfaction, Settl’s unique hybrid “online to offline” model aligns the agent 100 percent with the vendor’s result.
“By developing a model that is custom-built by Australians for Australia, and scaling it with the LJ Hooker network, we will bring more choice to consumers while growing an exciting new market for the entire industry.” 
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LJ Hooker's think-tank LJX-Lab offers hybrid model

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LJ Hooker has committed $100 million, as part of the networks 2020 vision, to accelerate the industry’s digital transformation.
Its mission is to make Australia the world’s most advanced and best served property market.
Spearheading the strategy is the newly unveiled LJX-Lab, a digital research and development vehicle.
It is hoped it will foster innovation through identifying, incubating and commercialising home-grown ‘proptech’.
It will also introduce new global best practices and technology to local markets to enrich new products, services and training.
LJX-Lab’s first game-changing development is Real Edge, a digital learning and coaching platform that delivers LJ Hooker’s world best practice training online anywhere anytime for continuous personal development of real-estate professionals.
Real Edge is aimed at enhancing the education of real estate as a profession and career; empower real-estate specialists to reach their full potential.
Company Chairman L Janusz Hooker said Real Edge is a first for an Australian real estate network and currently in beta with LJ Hooker’s 8,000 real estate professionals.
“It’s the first of many innovations LJX-Lab will release leading up to 2020 to continue LJ Hooker’s rich pioneering heritage,” he said.
To provide global insights into products and services being created in LJX-Lab, Mr Hooker has assembled an advisory board of business leaders, including:
<ul>
<li>Freelancer.com and Escrow.com, CEO, Matt Barrie (Sydney);</li>
<li>MD CSIRO Innovation Fund and Founder of Black Bird Ventures, Bill Bartee (Sydney);</li>
<li>Co-Founder and Principal of RFR Holding, Michael Fuchs (New York);</li>
<li>Director of Zoopla.com and former CEO of Countrywide Real Estate Group, Grenville Turner (London).</li>
</ul>
Mr Hooker said the group’s digital leadership had also attracted executive talent from global tech challengers that have redefined their industries including Uber, Atlassian and Freelancer.
“These specialists had no prior professional interest in real estate but are inspired by our digital strategy which enables them to apply their experiences working in global tech players to the real-estate industry,” he said.
“The digital revolution is enabling us to merge the property knowledge accumulated over our 88-year history and the expertise of our current 8,000 real estate professionals across 600 offices with the latest technology to better serve our customers.
"No single real estate network has set a digital path that equally empowers its people, its customers and its industry professionals.”
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LJ Hooker commits $100 million to real estate digital development 

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LJ Hooker chief financial officer Tom Wallace has departed the real estate agency.
It comes following its decision to pull a planned public ASX float. 
Tom Wallace had joined LJ Hooker, Australia's second-largest real estate agency network, in April last year from the ASX-listed Servcorp, where he was also chief financial officer.
He resigned after the departure of the former chief executive Grant Harrod.
LJ Hooker chairman Janusz Hooker said both were appointed to progress the IPO.
Hooker told The Australian Financial Review that "their skillsets weren't going to be utilised and it wasn't going to be what they wanted to do."
LJ Hooker has appointed media company Dentsu Aegis Network's Asia-Pacific head of commercial finance Esther Selvanayagam as chief financial officer. 
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