Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

Surry Hills

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A private investor is offering a Surry Hills creative office conversion on the Sydney city fringe.
Previously operating as the Sydney Technical College, it has hit the market for the first time in over 30 years.
It operated as the STC from the 1950's to late 1980’s.
Following the departure of the latest occupier, Chef’s Warehouse, the property has undergone a multimillion-dollar refurbishment.
CBRE’s City Fringe Team of Gemma Isgro, Nicholas Heaton and Nick Wheatley have been appointed to market the 970 sqm space at 111-115 Albion Street.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/13/A.04-FIRST%20FLOOR.jpg" alt="">
Ms Isgro stated, "the property’s B4 Mixed Use zoning allows for a range of uses, however, we believe the highest use will be creative office space, given the unprecedented demand in areas like Surry Hills where we are seeing A-Grade rents achieve up to $1,100 per square metre, gross." 
“The former warehouse has been architecturally designed by renowned architect ACME to accommodate open-plan workspace while paying homage to the building’s industrial past,” she said.  
The property spans three levels featuring windows on three sides and a rooftop garden.  
“The building would make a great headquarters for a creative firm or provide an incoming investor with a strong and stable income, underpinned by blue-chip real estate,” Mr Heaton said. 
111-115 Albion Street is being offered for sale via an expressions of interest campaign closing Wednesday, July 3, 2019.
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Former Sydney Technical College premises offered after 30 years

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The Crown Street, Surry Hills home of MV Bistro &amp; Wine Bar has been listed for sale. 
The property at <a href="https://www.realcommercial.com.au/property-retail-nsw-surry+hills-503215694" target="_blank">397 Crown Street</a> is part of the busy strip of restaurants and bars next to the Surry Hills Library.
The likes of Mamasan, Messina and The White Horse are on the same row of terraces. 
The two level wine bar is on a new 5+5 year lease paying $135,000 per annum.
Knight Frank agents Anthony Pirrottina and Demi Carigliano have a July 4 auction.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/18/MV2.jpg" alt="">
The property last traded for $1.9 million in 2013. It dates back to the 1840s when it was a stonemasonry workshop
The wine bar was rebranded from Mille Vini (Italian for 'a thousand wines'), to MV Bistro &amp; Wine Bar in 2017 when the business was bought by Rhaad Fogerty and Aaron Le Saux.
MV Bistro &amp; Wine Bar won the Daily Telegraph's Best of Crown Street award for 2019.
 
 
 
 
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jrobinson-rf4aSBido9

Surry Hills MV Bistro & Wine Bar premises on Crown Street listed

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The former Surry Hills home of restaurant supply institution Chefs' Warehouse has been listed for the first time in over three decades.
The three storey brick office building at <a href="https://www.propertyobserver.com.au/%20%20%20https:/www.realcommercial.com.au/property-offices-nsw-surry+hills-503225478%20%20%20" target="_blank">111-115 Albion Street</a> had been the longtime home of Chefs' Warehouse, which supplied the local hospitality industry.
It was known by the iconic giant egg beater attached to the building facade.
Now the beater is to be installed outside a Regent Street, Redfern building after former Chefs Warehouse co-owners Christopher Hazell and David Furley sold the business to retire.
The business was bought by Chefs' Warehouse long-term manager Melissa Wyner, who, given the $8 million sale last year of the Surry Hills building, had to relocate.
She set up shop in Redfern's old Tongan church which opened in February.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/19/Albion1.jpg" alt=""> One of the current floors in the vacant building.
"We sold the building and the new owner wants vacant possession," Hazell told Good Food last year.
Hazell had paid $2.65 million in 2002.
Since its trade in 2018, the property has undergone a multi-million dollar refurbishment and comes with plans designed by award winning architects ACME.
The building was also previously home to the Sydney Technical College, which was in operation from the 1950s to the late 1980s, skilling students in carpentry, tiling and engineering.
It has a net lettable area of 970 square metres across its three levels. It sits on 355 square metres and has three street frontages.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/19/second-level.jpg" alt=""> Plans for the second level.
CBRE Sydney agents Gemma Isgro, Nicholas Heaton and Nick Wheatley have the listing.
Gemma Isgro said it will likely be utilized as a creative office space.
“The property’s B4 Mixed Use zoning allows for a range of uses, however, we believe the highest use will be creative office space, given the unprecedented demand in areas like Surry Hills where we are seeing A-Grade rents achieve up to $1,100 per square metre, gross,” Isgro said.
Nicholas Heaton said the building would make a great HQ for a creative firm or, given the blue-chip real estate and location, would provide an incoming investor with a strong and stable income.
  
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jonathanchancellor-7SQnKwU6yx

Former Chefs' Warehouse, Surry Hills building listed for first time in three decades

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The Veriu Central Hotel in Sydney's Surry Hills has been listed for sale, just a year after it was officially launched.
The landmark building on the corner of Wentworth Avenue and Elizabeth Street was previously known as Wentworth House.
Two years ago it was announced that Veriu, who have a long lease at <a href="https://www.realcommercial.com.au/property-hotel+leisure-nsw-sydney-503177538" target="_blank">75 Wentworth Avenue,</a> would spend $15 million converting the iconic building into a 112 room hotel.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/1/Veriu2.jpg" alt="">
The are four other retail shops housed within the building that are currently being leased.
They include the cafe Basket Brothers and the popular modern Australian restaurant Nel.
Nel, named after owner and chef Nelly Robinson, won Time Out Sydney's People's Choice Best Restaurant in 2015.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/1/Veriu3.jpg" alt="">
Accessible from the refurbished lobby is the Drawing Room, Veriu's modern interpretation of a 1920s Drawing Room, as well as Harry's Dumpling House and Harry's Singapore Chilli Crab.
Colliers International agents Joseph Lin, Karen Wales and Gus Moors advise that the current owner has explored the possibility of expanding the building given it sits well below the permissable planning guidelines in relation to floor space ratios and building heights.
“The opportunity to secure such well-located properties is incredibly rare, and when coupled with the security of the leases and potential development upside, Sydney has not witnessed such a quality investment opportunity for a long time,” Moors said. 
The current owner had looked at two different developments which had the potential to add between 42 and 93 extra rooms above the current building.
Last month Veriu co-founders Alex Thorpe and Rhys Williams <a href="/expert-insights/investing/veriu-founders-list-surry-hills-boarding-house-park-side">listed Park Side</a>, the boarding house on the fringe of Redfern and Surry Hills.
Veriu, launched in early 2017, also have hotels in Broadway and Green Square. They have 42 properties, including 20 stand-alone hotels spread across Sydney, Brisbane and Melbourne.
Marketing agent Karen Wales said Sydney was a very tightly held hotel ownership market, with only two CBD hotels transacting in 2018 and only 10 CBD properties selling below $100 million over the past five years.  
“The Sydney City accommodation market now comprises approximately 23,553 accommodation rooms and, given the record high occupancy levels, has greater capacity to absorb new rooms,” she said.
“While there are new rooms coming into the Sydney City hotel market, the pace of openings is considerably slower than in other Australian state capitals."
 
<a href="https://www.realcommercial.com.au/property-hotel+leisure-nsw-sydney-503177538"> </a>
<h2 class="PrimaryDetails_headline_W569Z"> </h2>
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Wentworth House, home of Veriu Central Hotel, listed for sale

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International fashion designer Collette Dinnigan has quietly offloaded her Surry Hills HQ. 
She had owned the Hutchinson Street warehouse for more than 20 years, having paid $1,225,000 in 1998. 
She recently secured a $6 million off-market sale, with the buyer now emerging as a company directed by Jake O’Neil, son of property developer Denis O’Neil. 
The warehouse-style, three-level offices are currently leased to marketing consultants Goodtrip and green energy supplier Eco Renewable Energy.
The O’Neil family-owned Addenbrooke development firm has proposed the 610 square metre space be converted into 11 apartments.
Last year Dinnigan signalled her exit from the world of commercial property when she sold her first shop on the William Street, Paddington retail strip, which she had bought for $625,000 in 1998.
It fetched $1,655,000 to eastern suburbs socialite tailor Patrick Johnson through estate agent Ivan Bresic.
Dinnigan’s focus has moved from fashion design to Bespoke Homes, a luxury rental platform she is developing with her husband, hotel and tourism entrepreneur Bradley Cocks.
They’ve just returned from Italy where they’re restoring a 400-year-old farmhouse in Puglia.
They also have residential properties in Darling Point, the beachside Rosedale on the South Coast, and a Paddington warehouse.
This article was first published in the Saturday Daily Telegraph. 
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Collette Dinnigan quietly sells Surry Hills HQ

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A substantial boarding house on the fringe of Surry Hills and Redfern has been listed for sale for the first time in over a decade.
The property at <a href="https://www.commercialrealestate.com.au/property/745-747-south-dowling-street-redfern-nsw-2016-2015106578" target="_blank">745-747 South Dowling Street</a> last traded for $2.5 million in 2007.
It's been listed by Alex Thorpe and Rhys Williams, the business partners behind designer hotel giant Veriu who made their money in student accomodation and furnished rooms.
Veriu was launched in 2016 but dates back to 2002 when Thorpe and Williams identified a niche in furnished accommodation leasing. They started with two rooms in Bondi. 
The South Dowling Street property spans three storeys and has 23 rooms.
It will be offered with a flexible operating structure which will be an initial lease of five years with 3 x 5-year options with an approximate return of $435,000 net.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/4/3/Dowling2.jpg" alt=""> 
The structure will also incorporate a demolition clause allowing owner operators the opportunity to take the keys and maximise cash flow. 
Colliers International are marketing the property in conjunction with McGees Property.
Colliers agent Miron Solomons says the property benefits from literally billions of dollars of infrastructure projects both public and private being invested in the immediate precinct, including the new Sydney Light Rail, Surry Hills Shopping Village project, the Entertainment Quarter and the Stadium revitalisation project.
He said they anticipate interest across multiple buyer profiles ranging from investors to owner occupiers including student accommodation and boarding house operators.
“These candidates understand the intrinsic growth of owning and even operating assets surrounded by infrastructure investment and in close proximity to the education hub and nearby colleges," Solomons said.
The prominent corner freehold is set over two titles with a site area of around 380 sqm and is zoned R1 – General Residential. It has a May 9 auction date.
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Veriu founders list Surry Hills boarding house Park Side

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Crown and Goulburn, the office block on the fringe of Surry Hills and Darlinghurst, has been listed for sale.
The modern office development, named after its location on the corner of Crown and Goulburn Streets, was approved by the City of Sydney last month.
The 2,190 sqm development designed by SJB Architects will span five levels and comprises retail and commercial spaces.
There will be a cafe fronting Goulburn Street.
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The property is to be constructed by Impero Constructions with Ecological Sustainable design initiatives, encompassing contemporary office spaces, as well as gardens and rooftop terraces.
It's the first non-residential project for developer Luke Caplis, who amalgamated four lots which his firm, Freehold Capital, started buying in 2017. They have combined to a 665 sqm plot.
Caplis described the project as "an innovative offering for businesses seeking world-class urban premises."
Colliers International agents Adam Woodward, James Barber and James Mitchell are offering the 100 percent freehold, with an international expressions of interest campaign closing April 12.
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Adam Woodward called Crown and Goulburn a "prestigious, market-setting commercial development in the Sydney Fringe."
“The amenity on offer including high class end of trip facilities are on par with a premiere CBD office building," Woodward added.
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“The building’s location on the cusp of Darlinghurst and Surry Hills offers a host of colourful attractions and unbeatable convenience with train, bus and future light rail transport close at hand and ease of parking compared to CBD counterparts.”
James Mitchell said the Sydney CBD fringe is changing into a commercial hub.
"Previously viewed as just a sub-market of the CBD, it (a commercial hub) is fast becoming a focus for investment groups, as tenants flock to the area," Mitchell said.
 
 
 
 
 
 
 
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Crown and Goulburn office development to change the face of Darlinghurst, Surry Hills fringe

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A two-bedroom Surry Hills apartment sold last weekend for $1,002,000 to an investor.
Selling agent James Ledgerwood of The Agency Eastern Suburbs advised there were four registered bidders at the auction where bidding finished $2000 above reserve.
The vendor recorded a loss as it last sold for $1.1 million in 2016.
The loss was 10 percent plus costs.
The sale price was withheld on the listing websites.
The 36/45-49 Holt Street apartment was in the Habitat building.
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Loss in Surry Hills as property investor spends $1,002,000

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William Smart secured $7,905,000 when his Surry Hills home-office sold at its auction yesterday.
The listing came about because he is relocating his eponymous Smart Design Studio HQ to Alexandria.
It was bought by the Point Piper-based Rubicon Property Trust founder Gordon Fell, who is asking <a href="/news/point-piper-waterfront-routala-listed-for-55-million">$55 million for his Point Piper waterfront</a>, according to a subsequent report by the Wentworth Courier.
The Oxford Agency’s Steffan Ippolito had an ­$8 million guide, with bidding coming from three of the registered four bidders. Auctioneer Damien Cooley announced it as on the market at $7.47 million.
Smart and his partner John Adcock have lived above the award-winning studio for more than a ­decade, having bought the <a href="https://www.realestate.com.au/property-terrace-nsw-surry+hills-129567806" target="_blank">double-fronted Bourke St terrace</a> for $1.46 million in 2003 and then spending two years gutting it to create the commercial and ­residential space.
The top-level penthouse apartment has two bedrooms, two bathrooms and a concealed study overlooking Bourke and Ridge Sts.
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Smart has been involved in inner-city boutique apartment projects for almost two decades.
Born in New Zealand and raised in rural Western Australia, one of Smart’s first design jobs was on the award-winning Olympic Park railway station.
For the prior five years he worked for Gersau Architecture, a small practice in the south of France, then with Foster and Partners in London.
The avowed modernist has received critical acclaim with awards including the AIA Robin Boyd Award and AIA Wilkinson Awards for Residential Architecture.
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Smart’s designs can be found across the inner city and the beach suburbs.
He previously lived at one of his earliest projects, a 40sqm Springfield Ave apartment in Kings Cross. As a first home buyer he paid $223,000 in 2002, selling for $478,000 in 2012. The residence featured in the book 50 Of The World’s Best Apartments.
Smart Design Studio was founded in 1997 and has more than 40 staff. Its ­portfolio has included masterplanned urban centres, multi-unit residential ­developments, and retail and commercial fit-outs, as well as private dwellings including the Kahlbetzer family home Mandalong House in Mosman.
He is best-known for his work on ­Indigo Slam, the Chippendale warehouse residence of Judith Neilson, the art-dealing founder of the White Rabbit Collection.
This article first appeared in the Sunday Telegraph.
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Architect William Smart secures $7,905,000 for Surry Hills home-office

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A sweeping trend across Sydney's inner east suburbs is the sale of dilapidated terraces.
In need of full renovations of at least a couple of hundred thousand dollars, the homes are still fetching $1.5 million plus.
The latest to hit the market is a <a href="https://www.realestate.com.au/property-house-nsw-surry+hills-126699394" target="_blank">terrace on Reservoir Street</a> that hasn't traded in over three decades.
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Last sold for $85,000 in 1985, the three level terrace isn't completely run down.
A transformation had begun but was never finished, so there are newer elements to the attic and staircase.
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BresicWhitney Darlinghurst agents Lincoln Westerman and William Phillips have set a buyers guide of $1.5 million for its November 18 auction.
Last month another Surry Hills terrace, in a state of almost disrepair with missing ceilings, sold for $1.6 million in five days.
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