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.

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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.

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The developer has also lodged plans for a two-tower, 413-apartment development on Herbert Street in nearby St Leonards, further strengthening its presence across the Lower North Shore.

Beyond that, Aqualand remains behind the final stage of Barangaroo, where plans will deliver a five-hectare mixed-use precinct comprising new homes, retail, hospitality and community facilities, alongside a new Metro entrance and more than two hectares of public open space, completing the Barangaroo precinct.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/central-barangaroo-development-takes-big-step-with-concept-proposal-approval">Central Barangaroo development takes big step with concept proposal approval</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-aqualand-joins-st-leonards-apartment-party">First look: Aqualand joins St Leonards apartment party</a> 
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First look: Aqualand pushes ahead with Chatswood apartment tower as SSDA lodged for Archer Street

Mass timber is becoming an increasingly popular construction material in apartment developments, but Adelaide developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> is taking the approach a step further.

At its new <a href="https://www.apartments.com.au/new-apartments/flowe-bowden-18-gibson-street-bowden-sa-5007">Flowe Bowden</a> development, the exposed cross-laminated timber (CLT) structure isn't just about reducing the building's environmental footprint. It also forms the foundation of a broader wellness strategy, influencing everything from indoor air quality and natural materials to the way residents move through and experience the building.

The 115-apartment mixed-use development, designed by Melbourne-based architecture practice Fieldwork, will occupy a prominent island site opposite Bowden Village Reserve, combining one, two and three-bedroom apartments with retail and a dedicated wellness destination.

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Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.

The development has been split into two residential wings connected by a naturally ventilated central breezeway, replacing traditional enclosed corridors with open-air walkways that improve natural light, encourage cross ventilation and create more opportunities for neighbourly interaction.

"Rather than treating wellness as something that only happens on the ground floor, our response integrates it throughout the building, which led us to ask what it really means to design a healthy building," Fieldwork Director Quino Holland said.

[smartcode_project:default project_id=152022 project_image_fid=375531]

The building's architecture also reflects Bowden's industrial heritage. The lower podium references the area's historic brick and sandstone buildings, while the upper levels transition to exposed CLT, allowing the timber structure to become a defining feature throughout the apartments and shared spaces.

The use of mass timber sits alongside a range of sustainability initiatives, including a fully electric, gas-free design, rooftop solar and a targeted 5 Star Green Star rating.

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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.

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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.

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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

Restaurant

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Fast food retail investor Chris Retzos has sold his KFC restaurant in Altona North for $5 million to Asian investors on a record low yield of 3.7 percent.
Bidding for the KFC opened at $3.5 million with four bidders competing for the takeaway premises.
The hammer price at the Burgess Rawson auction bettered the previous $4.14 million record sale of a Melbourne KFC in May this year on a 4.8 percent yield.
The Retzos Group operates more than 40 KFC restaurants in Australia.
It will lease back the Altona North KFC on a new 10-year lease. 
The buyer was a Melbourne-based group of Asian investors, who own other fast-food investments.
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KFC store sells at record low yield

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A securely leased retail property in Melbourne's Surrey Hills is up for sale through Teska Carson with expectations of more than $1 million.
The property, 540 Whitehorse Road, is 210 sqm over two levels on a 217 square metre site.
Tesla Carson's Michael Taylor said the property is currently leased to the Triple King Chinese Restaurant, on a five year term with a five year option at $62,400 per annum.
"Surrey Hills lies within Melbourne’s demographic centre, an area which continues to attract strong residential growth which in turn drives retail and commercial returns," he said.
"The strip has an excellent tenancy history with little to no vacancy and that is a reflection of the strong demand from the surrounding residential catchment."
The property is for sale by expressions of interest closing Wednesday, August 31, at 3pm 
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Surrey Hills Melbourne restaurant up for sale

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An Italian restaurant and bed &amp; breakfast property in Adelaide Hills is up for sale through private treaty.
Located in historical Kanmantoo in South Australia, the 14 Old Princess Highway property comprises an authentic Italian restaurant seating up to 120 guests, along with two newly established bed and breakfast villas. 
There is also council approval for another five villas and a wedding/function centre for 150 guests. 
Colliers International’s Chet Al and Oliver Totani been appointed to sell the property. 
“Formally the Britannia Hotel, the property was built between 1848 and 1850, and extended around 1863 for operation as a boot maker,” said Al.
“The property is now operated as a tourism and hospitality venue, comprising a 263 sqm restaurant, 109 sqm living area and two bed &amp; breakfast cabins. The Osteria Sanso restaurant was established more than 13 years ago and has now been family owned and operated since day one.”
The property also has a three-bedroom owner’s residence.
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Restaurant in idyllic Adelaide Hills goes to market 

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A freehold property leased to Asian diner Wah Kee in Melbourne's Clayton has sold at auction for $2.02 million on a tight yield of 3.3 percent.
The property at 338a Clayton Road comprises a 200 sqm building with frontage on a 250 sqm area.
It is leased until the end of 2016 to Wah Kee restaurant with no further options, and returns $68,280 per annum plus GST and outgoings.
Fitzroys agent Mark Talbot handled the selling campaign, along with Joe Guberek of Park Lane Real Estate.
The sale follows that of 385 Clayton Road last month also conducted by Fitzroys which sold for $2.225 million, reflecting a yield of 2.95 percent.
“Clayton Road is a thriving retail strip offering a wide range of retail services and a diverse array of food and beverage offerings supported by the varied demographics of the surrounding catchment area,” Talbot said.
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Shop leased to Asian diner in Melbourne's Clayton sells for $2 million on a tight yield 

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The Jamie's Italian chain and other iconic eateries controlled by the collapsed Keystone Hospitality Group have been put on the market by the receivers.
All 17 leasehold venues are for sale, after the group went into receivership last month after failing to renegotiate lending arrangements with its financiers KKR and Olympus Capital.
Keystone does not own any of the real estate in which it operates.
Ferrier Hodgson's Morgan Kelly and Ryan Eagle have appointed CBRE as the lead sales advisor.
The one caveat is that the Jamie’s Italian restaurants must be sold as a group.
“The Sydney, Brisbane, Adelaide, Perth, Canberra and Parramatta Jamie’s Italian restaurants are some of the best performing Jamie’s Italian restaurants globally and offer a very attractive opportunity for the right partner. We will continue to work closely with the Jamie Oliver Restaurant Group with a view to identifying a new partner for their business in Australia,” Mr Kelly said. “This may be part of a whole of enterprise sale or as a separate portfolio.”
Short-listed parties will be invited to commence due diligence via a commercial-in-confidence data room before submitting formal offers. 
“Formal bids are expected to be submitted and assessed in September 2016, with the aim of reaching in-principle agreement with a buyer or buyers in late September 2016.”
Kelly is hopeful that sales will be finalised be for the commencement of summer trade.
The Australian reported the failed restaurant operator had been due to repay its international lenders $25 million on the eve of its administration.
But the company, which was until recently run by Southern Cross Austereo boss Grant Blackley, was instead yesterday pushed into receivership by its lenders, American private equity giant KKR and Singapore-based private equity outfit Olympus, which it owed almost $80 million.
Accounts show the company, which is now run by investment banker and shareholder Richard Facioni, lost $20 million last financial year after turning over $120 million.
The Keystone accounts show Mr Facioni and fellow directors Warren Duncan and Robert Webster had agreed with the private equity giants to restructure the business, including raising an immediate $5 million in fresh equity from existing shareholders and selling assets that included Bungalow 8, Cargo Bar, Kingsleys and Jamie’s Italian chain.
The AFR reported 60 creditors were present at the first creditors meeting. 
Speaking publicly for the first time, the directors revealed to AFR Weekend they were planning an initial public offering for the group to raise equity and pay back the secured debt of about $78 million. They and other shareholders also injected $5 million of their own money into the business late last year.
This leaves about $34 million of unsecured debt, which included $6 million owed to trade creditors. many of them were at the meeting on Friday.
Keystone executive chairman Richard Facioni said the individual venues were trading well, but at a corporate level, the group was carrying too much debt.
Facioni also explained that the $24 million loss in the last set of accounts which prompted their auditors PwC to raise a going concern issue was made up mostly of interest payments and expansion costs related to the purchase of Pacific Restaurant Group, which owned rights to Jamie's Italian and other venue expansions.
The group made $120 million in revenue last year.
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Keystone selling all Jamie's Italian in one line

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A small shop in Gold Coast’s Broadbeach is up for lease and would ideally suit a fast food eatery.
The property at 6/2723 Gold Coast Highway is being marketed by Raine &amp; Horne’s David Task.
Spread over 44 sqm, the property has a partial fit-out and includes a cold room and exhaust canopy. It is available from August 1.
Fronting Gold Coast Highway, the property has great exposure. It is also opposite the Convention Centre and Light Rail station
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Fast food outlet in Gold Coast's Broadbeach up for lease through Raine & Horne

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Philippe Mouchel, rated as one of the world's finest French Chefs, is opening another Melbourne restaurant, at the Paris-end of Collins Street.
The “Philippe” restaurant follows other top names, mainly luxury fashion retailers, flocking to Melbourne's Paris End, Collins Street, Russell Street and Flinders Lane.  
The restaurateur is moving into a 400 square metre basement restaurant at 115 Collins Street. He has signed a three-year lease and the net annual rental equates to about $380 per sqm.   
Knight Frank's Gary Loo brokered the deal.
Mouchel's career has been spent in the kitchens of Michelin star restaurants such as Hotel Frantel Bordeaux and Restaurant Roger Vergé in Mougins. He moved to Tokyo to work in a new restaurant Paul Bocuse was opening and later relocated to Australia.  
In 2005, Mouchel opened French restaurant, The Brasserie by Philippe Mouchel, at Crown. He was bestowed with The Age Good Food Guide's Chef's Hat award each year of its operation. Last year, he opened Deja Vue, a concept restaurant on St Kilda Rd in the former Café Vue space.   
“The growth of residential dwellings which has grown to 68,100 across the City of Melbourne has fed the need for food and beverage space within the city," said Loo.
“Food and beverage floor space now totals 646,600 square metres, having increased by 21,700 sqm since 2013.” 
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Top French chef Philippe Mouchel to open restaurant in Melbourne's Collins St

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Restaurateur, the Little Billy Group, has agreed terms on a new lease at the Village Centre in the heart of Wonga park in Melbourne.
Located on the corner of Yarra Road and Launders Avenue, the property comprises a 600 square metre tenancy leased on a 20-year term with options.
The rental was not disclosed, however, the asking rent was $550 a square metre 
The deal was brokered by Savills Australia's Michael Di Carlo.
"The owner has expanded the building to offer approximately 600 square metres of floor space to provide the tenant with the room to supply quality deli offerings along with a restaurant and café,’’ Di Carlo said.
The lessor is a Sydney-based investor.
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Little Billy commits to Wonga Park Village Centre

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A sky-high cocktail bar with panoramic views of Sydney is set to become the highest bar in Parramatta.
Set top open in 2016/17, the Sky Bar sits more than 100 metres above the ground level atop Crown Group's new $309 million development V by Crown.
Crown Group Director of Sales and Marketing Roy Marcellus said the new Sky Bar at V by Crown would have the best views in Parramatta.
“There is a huge demand for bars like this in Parramatta; offering luxury style in a relaxed atmosphere," he said.
Designed by Sydney-based Allen Jack + Cottier and Koichi Takada Architects, the bar offers views of the Blue Mountains, Sydney CBD and the Sydney harbour.
The internal bar area with direct lift access spreads across 275 sqm of internal space and a 90 sqm outdoor terrace.
Stage one of the development is set to be completed in December and an official date for the Sky Bar opening will be announced later this year.
The 590 luxury apartment block has studios for sale from $550,000, one bedrooms from $729,000, two bedrooms from $920,000, and a three bedroom apartment for sale at $1.2 million.
There is one three bedroom penthouse which is for sale for $2.3 million.
The building features an alfresco dining and retail piazza on the ground level.
The development is 600 metres from Parramatta City Council's $2 billion, 3 hectare vertical village.
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For more information, <a href="https://vbycrown.com.au" target="_blank">click here</a>.
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Sky-high cocktail bar atop V by Crown's Parramatta development

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The home of Sydney’s Rockpool Bar &amp; Grill and Spice Temple, 66 Hunter Street is about to come to the market.  
Set within the City Mutual Trust building, the 2,019 sqm space holds two restaurants.
“66 Hunter street comes with long term leases to Australia’s most awarded chef, Neil Perry, who will continue to operate arguably two of the best restaurants in the country at this wonderful location,” listing agent, Miron Solomons of Colliers International said.
"The asset is located in the heart of Sydney’s financial district, and with such a highly regarded, long term and stable tenant in place it will always be highly sought after by a local and international investors. 
The property is being sold by US based investor, David Doyle who has decided that selling the asset in the current market would free up capital for him to explore future opportunities.
Doyle is Perry's business partner.
The international expressions of interest campaign closes March 2 with $30 million plus tipped.
It follows the successful sale of Rockpool restaurant Bridge Street last October for more than $8 million.
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