The residential transformation of St Kilda Road is set to continue into with more new apartment plans for the sought-after boulevard.

Wing Tai Asia has lodged plans for a major residential tower at 464-466 St Kilda Road, replacing the former VACC House with an 18-storey mixed-use development designed around a retained heritage podium and a sculpted contemporary tower.

The proposal, prepared under Victoria’s Significant Residential Development with Affordable Housing pathway, would deliver 325 apartments and ground-floor retail across the prominent 4,653 sqm boulevard site in Melbourne’s St Kilda Road North Precinct.

The project centres on the adaptive reuse of the site’s heritage-listed VACC Building, an eight-storey office designed by Bernard Evans that has occupied the address for decades. Planning documents state the development would involve “carefully dismantling and conserving off-site the original metal fabric of the podium visible from St Kilda Road,” before reinstating it as the defining frontage of the new scheme.

Above the restored podium, Wing Tai is proposing a curvilinear residential tower. The scheme includes 172 one-bedroom apartments, 63 two-bedroom apartments, 66 three-bedroom apartments, and 24 four-bedroom apartments, alongside two ground-floor food and beverage tenancies fronting St Kilda Road.

The tower has been designed with substantial articulation and variable setbacks to minimise perceived bulk and maintain view corridors along the boulevard. Urbis, which prepared the planning report, said the design “has been significantly articulated through a curvilinear design” with “an interplay with materials, façade expression and depth” to create visual separation and visual interest.

The proposal also includes 254 basement car spaces, landscaped pedestrian links connecting St Kilda Road and Queens Lane, and a biophilic landscape strategy featuring canopy trees, raised planters, cascading greenery and a glass oculus pool overlooking the eastern frontage.

Planning documents confirm the $270.1 million development will contribute 3 per cent of project costs to the Social Housing Growth Fund as part of the application process.

Wing Tai acquired the St Kilda Road property in 2018 alongside Abacus Property Group for $95.38 million, before later consolidating ownership of the site. The property previously served as the Victorian Automobile Chamber of Commerce headquarters for around 60 years.

The transformation of the St Kilda Rd boulevard is already beginning to materialise, with a number of high-profile projects recently completed, launched, or approaching launch as developers continue to back the long-term appeal of the precinct.

Among the most notable recent completions is Louise by Samuel Property Group, just off the strip on Queens Lane, the same pocket Hirsch &amp; Faigen recently launched The Queensbury. Mirvac is too on the same street with The Albertine, which is approaching completion.

Dexus recently secured approval for its slice of St Kilda Road, while Gurner also has approved plans for the precinct.

Joel Robinson

Wing Tai unveils 325-apartment St Kilda Road tower on former VACC House site

Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
</section>
</section>

[smartcode_project_cta:default project_id=112661]

SIERA kicks off construction at Northcliffe tower Exhale

Sydney Apartments

It&#39;s been over seven years since Iris Capital first earmarked what will likely be one of the most impressive redevelopments in the affluent harbourside suburb of Potts Point.

Iris Capital, led by the local hotelier and developer Sam Arnaout, has slowly amalgamated a larger site, including Potts Point institutions&nbsp;the Bourbon and Beefsteak pub and Les Girls nightclub, to create an ideally located 2,500 sqm from 18-32 Darlinghurst Road, at the top of Macleay Street.

Now Iris are set to launch the $350 million redevelopment, which will see 48 apartments, not including a handful of penthouses with private pools, spread&nbsp;apartments across five buildings, each with their own art-deco identity. The buildings will be known as Sovereign, Regent, Consort, Monarch and Empress.

[smartcode_project:default project_id=5570 project_image_fid=185765]

The development application&nbsp;went before the City of Sydney council in 2018, before being approved earlier this year.

&ldquo;I have long been a big believer in this pocket of Potts Point, and the Queensgate vision is one which we have been working incredibly hard at for some time now,&rdquo;&nbsp;Arnaout said.

[smartcode_project:default project_id=5570 project_image_fid=180676]

&ldquo;Breathing new life into key destinations with high quality redevelopment is one of the hallmarks of Iris Capital and we are extremely eager to see this unique revitalisation come to fruition in the coming months.&rdquo;

Ben Stewart, a director at CBRE Sydney, says Queensgate is&nbsp;one of&nbsp;the most hotly anticipated releases the Eastern suburbs for a number of years.

&ldquo;Queensgate symbolises the next phases in the Potts Point renaissance, one which pays tribute to Potts Point&rsquo;s art deco roots while moving forward with a contemporary collection of sophisticated residences,&rdquo;&nbsp;Stewart said.

[smartcode_project:default project_id=5570 project_image_fid=185762]

Just 48 high-end apartments will be on offer across a selection of one, two and three-bedroom apartments,&nbsp;in addition to an exclusive collection of ultra-luxury penthouses with private pools.

A selection of three-bedroom apartments will also house their own private wine cellar.

[smartcode_project:default project_id=5570 project_image_fid=180675]

Apartment prices start from $1.8 million for the one-bedroom units , $2.8 million for two-bedrooms, $5 million for the three-bedrooms,&nbsp;and $10 million for penthouses.

&ldquo;We&rsquo;ve already seen strong interest from both local and interstate buyers who are eager to get their hands on an incredibly rare product set in one of the city&rsquo;s most thriving dining and retail cultures,&quot; Stewart added.

&ldquo;Residents will be able to step out their front door and straight into a world class collection of caf&eacute;s, boutiques and bars, nestled in an activated laneway with fantastic new amenity and upmarket retail.&quot;

Each residence features&nbsp;artistic finishes, soaring ceilings, a limited collection of private wine cellars, and large&nbsp;walk-in wardrobes, all encased in a&nbsp;heritage fa&ccedil;ade.

As the home of Australia&rsquo;s highest concentration of art deco buildings and some of Australia&rsquo;s earliest block of flats, Potts Point&rsquo;s cityscape is one of juxtaposition, where modern high rises border historic landmarks.

Queensgate&rsquo;s design was bred from a diversity of input including architects Panov Scott and Tonkin Zulaikha Greer (TZG) who devised five distinct personalities for each of the buildings, and interiors by TZG and BKH.

[smartcode_project:default project_id=5570 project_image_fid=180674]

&ldquo;Our philosophy has always explored the crossover between art and architecture, and Queensgate epitomes that intersection of high-end design,&rdquo; said Tim Greer, Director of TZG.

&ldquo;We wanted to produce a collection of homes that were deeply reflective of the Potts Point character while offering the most high-end and modern luxuries available in residential design.&rdquo;

Iris Capital has been busy in the Gold Coast as well as Sydney, recently launching their first Surfers Paradise development, Victoria &amp; Albert.

The $800 million mixed-use development will feature more the 330 apartments across two residential towers rising 30 and 40 levels.

[smartcode_project:default project_id=107928 project_image_fid=178909]

The East tower known as The Albert will comprise 114 two, three and four-bedroom apartments over 30 levels.

The west tower, known as The Victoria, will rise over 40 levels and deliver 219 apartments of one, two and three bedrooms.

[smartcode_project_cta: project_id=5570]

“I have long been a big believer in this pocket of Potts Point, and the Queensgate vision is one which we have been working incredibly hard at for some time now,” Arnaout said

Iris Capital prepare launch of Queensgate, the hotly anticipated Potts Point apartment redevelopment

Sydney is approaching a point in the real estate cycle where growth in apartment values is nearly matching the growth in the housing market,&nbsp;CoreLogic&#39;s&nbsp;monthly Hedonic Home Value Index found.

Apartment values rose 0.7 per cent over November, compared to the one per cent gains in houses. For context, across March this year, Sydney houses posted double the growth of apartments, 4.3 per cent in a single month compared to 2.1 per cent for&nbsp;apartments.

Sydney apartment values are now 15.3 per cent up over 2021, just over half of the nearly 30 per cent gains for houses. That&#39;s stretched the median gap between apartments and houses in the harbour capital to $523,000.

Sydney&#39;s median apartment value is now $837,000, compared to $733,000 at the start of 2021.

[smartcode_project:default project_id=7758 project_image_fid=150461]

Although values are continuing to rise across the country, the November result was the softest outcome since January when values rose 0.9 per cent.

Tim Lawless, CoreLogic&rsquo;s research director, says the slowdown in the pace of growth is due to a number of reasons.

&ldquo;Virtually every factor that has driven housing values higher has lost some potency over recent months,&quot; Lawless noted.

&quot;Fixed mortgage rates are rising, higher listings are taking some urgency away from buyers, affordability has become a more substantial barrier to entry and credit is less available.

&ldquo;With such a large value gap between the broad housing types, it&rsquo;s no wonder we are seeing demand gradually transition towards higher density housing options simply because they are substantially more affordable than buying a h​ouse.&quot;

Sydney's median apartment value is now $837,000, compared to $733,000 at the start of 2021

Sydney apartment insights: What happened to Sydney apartment values in November?

As we near the end of 2021, Urban reached out to glean some insights on the apartment market and what's in store over the next couple of years from Meriton's perspective.

We asked a few questions of James Sialepis, Meriton's director of residential sales, has been with the apartment developer for more than two decades. 
&nbsp; 
JC: How have you viewed the performance of the o​ff t​he plan market in 2021, and what are the strongest positive and negative factors that will influence outcomes in 2022 and 2023?

JS: The of​f the plan market has performed reasonably well throughout 2021 underpinned by a lack of supply, returning investors and owners looking to combine apartments.&nbsp;

The local investor market which traditionally prefers “Brand new” off the plan apartments (due to the higher depreciation benefits compared to second hand) has improved recently as rents continue to rebound and vacancy rates recover to pre-pandemic levels but overseas buyers continue to fall, which now contribute a very small % of total sales.&nbsp;

[smartcode_project:default project_id=8590 project_image_fid=71712]

The recent announcement by the Federal Government to open international borders to eligible visa holders allowing migrant and students into the country should see continued demand grow for both sales and leasing. 
&nbsp; 
JC: What trend has prompted your greatest enthusiasm for the apartment market? And what is the issue of most concern to you and or your buyers?&nbsp;

JS: Purchasers are definitely more attracted to mixed-use developments which include retail precincts, childcare centres and leisure facilities amongst residential.&nbsp;

More owner occupier demand from growing families is definitely exciting for Meriton.&nbsp;Our aim has always been to offer an experience to residents that is attractive, convenient and unique.&nbsp;

[smartcode_project:default project_id=5873 project_image_fid=72323]

Families are attracted to a low level of maintenance and to the amenities within each of the developments such as parklands BBQ areas and playgrounds.&nbsp;

Enquiry and sales for three and four bedroom apartments has increased YOY and we expect this trend to continue. 
&nbsp; 
Rising interest rates or further macro prudential measures could dampen enthusiasm very quickly.&nbsp;

In early 2019, through some heavy hitting macro prudential measures, lenders were forced to curb their lending practices which restricted the flow of finance into housing.&nbsp;

[smartcode_project:default project_id=7588 project_image_fid=72298]

Similar measures will have the same impact, but this time they could be coupled with rising interest rates which would be more dangerous. 
&nbsp; 
JC: Has urbanisation stalled amid the rush to the regions and what will it look like over the decade ahead?&nbsp;

JS: COVID posed many questions and the extended lockdowns were an opportunity for many to reassess their housing needs.&nbsp;

[smartcode_project:default project_id=7974 project_image_fid=72339]

For some it was whether or not they should stay in Sydney or move into the regions but for many it was just a slight readjustment.&nbsp;

The readjustment included demand for apartments with study areas, extra space for a growing family and the need for better amenity within a development.

James Sialepis, Meriton's director of residential sales, has been with the apartment developer for more than two decades

jchancellor-FAypfDUnLy

Mixed-use development demand shows uptick in 2021: Five minutes with James Sialepis, Meriton's director of residential sales

The landmark City Tattersall Club, in the heart of the Sydney CBD, has been given the greenlight to convert the building in to a 50-storey mixed-use tower.

At the helm of the project is the Melbourne-based ICD Property, who will develop the project alongside the Singapore-listed First Sponsor.

The Central Sydney Planning Committee issued formal approval this week for the plans by the local architect, BVN Architecture. The local architecture firm, fjmt studio, will&nbsp;oversee all heritage design aspects of the redevelopment, highlighting the building’s&nbsp;historic features and the design of the City Tattersalls Club’s interiors.

The affectionally known "City Tatts Club", at 194-204 Pitt Street, will be&nbsp;revitalized,&nbsp;with upgrades to the Club’s heritage ground floor including new ground floor retail and restaurants, an upgraded lower bar and grill, a state-of-the-art commercial wellness centre, new bars and sophisticated lounge areas, event spaces, and an innovative co-working club.

[smartcode_project:default project_id=12428 project_image_fid=152518]

A podium will be built&nbsp;on top of the existing heritage floors, with a tower above comprising a 101-room hotel and 241 high-end residences.

ICD Property Managing Director Matt Khoo said it was a "huge honour" to be handling the project.

“To be able to redevelop the City Tattersalls Club, one of Sydney’s longest standing institutions, and preserve that rich history for future generations to enjoy, is a huge honour,”&nbsp;Khoo said.

[smartcode_project:default project_id=12428 project_image_fid=152515]

“Developing new residences in the very heart of Sydney’s CBD, surrounded in every direction by the city’s best shopping, dining, and entertainment precincts such as Westfield Pitt Street, Haymarket, Darling Harbour, Hyde Park, China Town, and Circular Quay – is also not something you see every day.&nbsp;

"We could not be more excited by this rare opportunity.”

[smartcode_project:default project_id=12428 project_image_fid=152517]

In response to securing approval for their first Sydney development project, First Sponsor’s Group CEO Neo Teck Pheng said the location of the City Tattersall Club is one of the most sought-after in the country.

“We have always been attracted to the Australian property market which has seen stable, long-term growth and a particular uptick in the residential sector within the last 18 months," Pheng said.

"The City Tattersalls Club redevelopment was particularly appealing due to its location in what is arguably the most highly sought-after real estate location in the whole of Australia, as well as the hands-on partnership with ICD Property whose collaboration and local knowledge has been extremely valuable to guiding this project forward.”

The premium apartments occupying the top floors of the tower will offer views over Sydney’s city skyline and harbour and give residents exclusive access to premium amenities including a number of multi-purpose rooms, private dining lounges and a luxurious outdoor deck with BBQ and entertainment rooftop facilities.

Apartment are expected to launch to the market in Q2 2022, with construction expected to follow soon after in the middle of the year.

<a href="/new-apartments/sydney-house-194-204-pitt-street-sydney">To keep up to date with the development and its launch, enquire here</a>

ICD Property Managing Director Matt Khoo said it was a "huge honour" to be handling the project.



Sydney's City Tattersall redevelopment gets sign off for apartment and hotel project

First-time buyers in NSW are overwhelmingly looking to buy a home rather than an investment property, according to exclusive research by InfoTrack.
 
The latest InfoTrack Property Market Update revealed 84 per cent of first-home buyers in NSW purchased as owner occupiers.

Some 47 per cent sought a house and 37 percent went for a strata property.

Another 15 per cent were buying vacant land with the plan of becoming an owner occupier.
 
The data also showed that the majority of first-home buyers said they would consider paying an average of $600,000 to $700,000 for a home – the top of the threshold to avoid expensive stamp duty fees in NSW.
 
“This strategy tells me these buyers are savvy and want to make the most of every exemption available to them. While it does limit property choices, it ultimately drives first-home buyer behaviour and lightens the load at settlement time when the costs come together,” according to InfoTrack CEO John Ahern.

Ahern noted throughout 2021 that first-home buyer activity has been in decline after peaking in March. 

Mr Ahern said despite this decrease, those getting into the market know just what they want.

“Buying a first home in a location based on affordability seems to be step one towards owning a property in a more desirable location. 

"Given the recent hike in property prices, securing a first home can really set buyers up with healthy capital gains in a relatively short timeframe. 

"It’s also a sensible move that offers them an opportunity to think about what their second property purchase might look like,” he said.

Over the past 12 months, a majority of first-home buyers in NSW (55 per cent) made their property purchase alone, or only listed one name on the title. 

“What I see when I look at this data is that property ownership is an attractive investment strategy regardless of whether you purchase independently, or jointly with others. It also indicates that there are more individuals with higher disposable incomes who can afford to buy their first home self-sufficiently,” Mr Ahern said.



The data showed that the majority of NSW first-home buyers said they would consider paying between $600,000 to $700,000 for a home 

NSW first time buyers prefer owner occupying rather than investment

Newcastle is set for its joint-tallest residential apartment tower, as Sydney developer Third.i. Group lodge plans for two towers on the landmark Dairy Farmers Corner site in Newcastle West.

The two towers, on the corner of Tudor and Hunter Streets, will home 184 apartments across the two buildings. One will rise nearly 100 metres, and 30-storeys, which will be the same number of levels as Pinnacle Apartments. There will be an adjoining five-storey building for retail and commercial.

Local architecture firm CKDS has designed the project. They are behind a number of&nbsp;the city&rsquo;s new residential and commercial buildings including the multi-award winning Verve Residences, Horizon Lee 5 and East End Stage 2.

A mix of one, two, three and four-bedroom apartments&nbsp;will be on offer, which Third.i Director, Luke Berry, says will have some of the best views in town, as well as the harbour, great dining and entertainment options, and the transport interchange at their doorstep.

To keep up to date with the development and its launch, enquire here

&quot;To create a true sense of community for residents we&rsquo;ve focussed on incorporating communal and green spaces and facilities such as a gym, a cabana pool area with lap pool, wine bar and cellar, and function rooms,&rdquo; Berry says.

<img alt="" height="525" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/dairy_farmers_newcastle_3.jpg" width="1200" />

Third.i positions Newcastle as an exciting market to work in with great potential which presents a sea change for Sydneysiders, empty nesters and downsizes, given its close proximity to Sydney, and a relaxed return to the office, post pandemic.

&ldquo;In what we believe is a first for the city, we want to use some of the commercial space as a residents&rsquo; shared work hub, so they can work from home without being in their apartment,&rdquo; Berry added.

To keep up to date with the development and its launch, enquire here

The Newcastle West site was once home to Dairy Farmers - one of Australia&rsquo;s largest dairy producers. In a nod to the history of the site, Third.i will re-imagine the heritage-listed, iconic glass milk bottle and clock towers as part of a pedestrianised, broader public art installation.

<img alt="" height="632" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/dairy_farmers_newcastle_2.jpg" width="1200" />

Dairy Farmers Towers is the fourth West End apartment project for the Sydney-based developer. It has already completed the West, Eaton on Union, and Stella on Hannell apartments in Wickham, creating 381 inner city homes.

Third.i&rsquo;s retirement living division ThirdAge is partnering with Merewether Golf Club on the recently approved luxury resort retirement living project &ndash; The Merewether.

To keep up to date with the development and its launch, enquire here

&ldquo;We feel like the West End is our second home and we are excited to be part of its revitalisation. We want Dairy Farmers Towers to be a West End icon, a landmark that will be reborn to create a new chapter in the West End&rsquo;s growth as a great place in which to live, work and play.&quot;

The project has been designed by leading local architectural firm CKDS. The firm is behind the designs of a number of the city&rsquo;s new residential and commercial buildings including the multi-award winning Verve Residences, Horizon Lee 5, East End Stage 2, and the Gateway l and ll buildings.

Third.i Director, Luke Berry, says the apartments will have some of the best views in town

Third.i to create Newcastle joint-tallest apartment development at the Dairy Farmers site

The $1 billion mixed-use development, AURA by Aqualand, is lined up to be the focal point of the transformation of North Sydney.

AURA, which will comprise a mix of&nbsp;386 luxury residences, retails, dining precinct, and commercial spaces at 168 Walker Street, will give residents&nbsp;gun barrel panoramic views of the&nbsp;Sydney Harbour Bridge, Luna Park, and the Sydney Opera House.

Award-winning architects from Woods Bagot and Richards Stanisch have combined to create the 28-level tower and apartments, which for off the plan buyers will be available in three different colour schemes;&nbsp;dark, mid, or light.

[smartcode_project:default project_id=30959 project_image_fid=181044]

The highest standard in materials will be used throughout, from toughened fluted glass to premium tiling and marble.

Each apartment will open to a balcony with winter gardens. They have been designed to offer different floorplans and flexible solutions to balance working and living at home.

There will be extensive resident amenity, including a&nbsp;ground level pool and gym, a dining and entertaining area on level nine, and outdoor barbecue facilities, a sun deck, and dining rooms on the top level.

[smartcode_project:default project_id=30959 project_image_fid=181059]

AURA residents will also benefit from Aqualand's recently launched hospitality arm, Etymon Projects, which incorporates a dedicated concierge service&nbsp;designed to create a 360-degree lifestyle development offering with exceptional service.&nbsp;

Aqualand’s vision is to bring the 5-star hotel experience to its developments by combining traditional concierge services with lifestyle management for the first time.

The new service takes its lead from New York, China, Singapore and Hong Kong luxury apartment living, where applying hotel services and a hospitality ethos to homes isn’t new.

[smartcode_project:default project_id=30959 project_image_fid=181045]

Etymon Project’s next-level The Club will custom-fit its services to fit individual lifestyles perfectly. Options will include Home Management (grocery put away, coordinating tradespeople, watering plants and vehicle maintenance) and Home Event Planning (dinner parties, children’s birthdays and more).

Etymon Projects will also manage a providore, artisan bakery, casual diner and a contemporary Japanese eatery in&nbsp;AURA’s vibrant culinary precinct, acting as an extension to residents' apartments and a social anchor for the local community.

Buyers only need to look to Aqualand's most recent successful mixed-use precinct at Central Barangaroo, where the developer was in charge of delivering the&nbsp;residential, commercial, and public spaces.

Aqualand, led by founder and managing director, Jin Lin, has also recently completed the $420 million&nbsp;Blue at Lavender Bay, the luxury apartment tower with 130 apartments, as well as The Revy on Darling Island.

[smartcode_project:default project_id=30959 project_image_fid=181068]

"The vision for AURA is simple enough, but ambitiously bold," Lin says.

"We see this as a once-in-a-generation development, shaping the future of North Sydney and modern luxury living in Australia."

Aqualand's head of sales and marketing, Alex Adams, says there are two ways to create a dream home.

"[You can] build an average product and hope that people will love it, or you can design something that's iconic and special, that jusut doesn't compare to anything that has ever existed before", Adams says.

[smartcode_project:default project_id=30959 project_image_fid=181055]

"Aura is the latter, an heirloom we hope our home owners will keep within their families for generations.

The first stage of apartments are set to be released to the market, starting from $995,000. There will be 102 apartments in the release, a mix of one, two and three-bedroom apartments.

AURA is expected to be the centrepiece of the ever evolving North Sydney precinct, which is expected to become Sydney's second CBD hub with the amount of plans and infrastructure in the pipeline.

[smartcode_project:default project_id=30959 project_image_fid=181063]

The closing of Miller Street to cars and&nbsp;the massive investment in green spaces and entertainment precincts is expected to increase its attractiveness to future residents.

There are 19 key projects currently reincofrcing Miller Street as its civic spine. Plans are underway for over 17,000 sqm of new parks, plazas, and laneway networks. There's also plans for a&nbsp;Warringah Land Bridge will connect North Sydney with the other side of the freeway, and plans to turn the tramway viaduct into a large active recreation space.

The new Sydney Metro Victoria Cross station will sit adjacent to AURA.

Some 80,000 workers are expected in North Sydney by 2036.&nbsp;

[smartcode_project_cta: project_id=30959]

"The vision for AURA is simple enough, but ambitiously bold," Aqualand founder and managing director Jin Lin says.



"A once-in-a-generation development" - Sales set to launch at Aqualand's luxury North Sydney apartment tower, AURA 

Sydney apartments values continued their strength&nbsp;over October, posting 1.2 per cent gains over the month to now be 14.5 per cent over the calendar year,&nbsp;according to the monthly Hedonic Home Value Index by CoreLogic.

The gains follow 1.4 per cent growth in August and 1.6 per cent in both June and July.

Over 2020, values were down -0.2 per cent.

The median has now jumped over $100,000 since the start of the year, when the median apartment value was $733,000. Now it&#39;s $837,000.

[smartcode_project:default project_id=7758 project_image_fid=150461]

CoreLogic&#39;s research director Tim Lawless believes Sydney will see the highest trend toward high density living compared to the other capitals, as the gap between the median apartment value and median house value rises to over $500,000. (Sydney&#39;s median house value is now $1.33 million, up 1.6 per cent over October).

&ldquo;As housing becomes less affordable, we expect to see more demand deflected towards the higher density sectors of the market,&quot; CoreLogic&#39;s research director, Tim Lawless, said.&nbsp;

&quot;House prices continue to outpace wages by a ratio of around 12:1,&quot; Lawless noted.

&quot;This is one of the reasons why first home buyers are becoming a progressively smaller component of housing demand.

[smartcode_project:default project_id=7758 project_image_fid=150450]

&quot;With investors becoming a larger component of new housing finance, we may see more demand flowing into medium to high density properties,&quot; Lawless added.

&quot;Investor demand across the unit sector could be bolstered as overseas borders open, which is likely to have a positive impact on rental demand, especially across inner city unit precincts.&rdquo;

Sydney has seen the largest rise in rents over the last three months, up 2.4 per cent, followed&nbsp;by Brisbane, regional Queensland and regional New South Wales (all up 2.3 per cent).

The median has now jumped over $100,000 since the start of the year, when the median apartment value was $733,000. Now it's $837,000

Sydney apartment insights: What happened to Sydney apartment prices over October?

The Sydney-based developer Image Property Developments has been given the green light to push&nbsp;ahead with stage one of their $85 million gateway development in the popular suburb of Dural, in Sydney&#39;s Hills District.

The Hills Shire Council granted a &#39;deferred development consent&rsquo; for the first stage of Skyline Dural, a gateway development at 488 Old Northern Road Dural, Round Corner.

Skyline Dural will see a number of apartments and townhouses developed in the second and third stages, a rarity for the suburb which is littered with sprawling mansions on acreages. The second and third stages are yet to be lodged to the local council.

The first stage will see a two-storey retail and commercial building developed, with views to the Blue Mountains, as well as a public plaza.

The building will include a supermarket and retail outlets including specialty stores and restaurants, giving buyers in the latter stages already established amenity on their doorstep.

The frontage to Old Northern Road will see large road improvement, with two lanes each way, a new bus layback, new traffic lights, and dedicated turn lanes.

<img alt="" height="675" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/skyline_dural_2.jpg" width="1200" />

Part of AUS&nbsp;Group, Image Property Developments&nbsp;are currently developing The Bond in Norwest, in partnership with Mulpha, which is set for completion in 2022.

Chris Paunescu, of CHRISP Consulting, who is project managing the design on behalf of Image Property Developments said the apartments and townhouses will offer quality lifestyle options that are much needed in the area.

&ldquo;The tri level designer townhomes (with optional elevators), spacious apartments with rooftop terraces and exclusive restaurants extending the public plaza are part of stages two and three,&quot;&nbsp;Paunescu said.

&ldquo;The investment in improving transport infrastructure at the southern entry to Dural village, particularly with the intersection, will improve traffic flow significantly.&rdquo;

&ldquo;Image Property Developments are locals to the area and are committed to creating a vibrant lifestyle hub for Round Corner Dural, with quality shopping, hospitality and commercial facilities, providing a place to live, meet, dine, and shop all with unobstructed views to the Blue Mountains.&quot;

Chris Paunescu of CHRISP Consulting said the apartments and townhouses will offer quality lifestyle options that are much needed in the area

Rare off the plan apartments and townhouses set for $85 million Dural mixed-use development

NSW off-the-plan apartment buyers will have 10-year insurance against defects in their building.

The NSW Government is taking the step to better protect apartment buyers via the introduction of decennial liability insurance (DLI) into the Australian market.

Minister for Better Regulation and Innovation Kevin Anderson said the reform will explore the potential for insurers and developers to provide an insurance safety net for consumers that is currently lacking in the multi-unit high rise sector.

&ldquo;Establishing a market for DLI would will mean untrustworthy developers are weeded out, creating a stronger, more competitive market where consumers can purchase with confidence,&rdquo; he said.

[smartcode_project:default project_id=7758 project_image_fid=150460]

The NSW Government is currently considering whether property developers will be either invited or ordered to take out the new (DLI) for their apartment complexes.

&ldquo;DLI is a special type of insurance taken out by the developer to guarantee against major defects for up to 10 years, which is not currently available in Australia,&rdquo; Mr Anderson said. 
&nbsp; 
The aim is for buyers to have confidence and peace of mind over the buildings that are built in NSW, said Mr Anderson when announcing the proposal of the new scheme.&nbsp;

&ldquo;For too many years, we&rsquo;ve been seeing and hearing of people losing their hard-earned money on apartments, or their deposits, with developments that have defects or go broke or don&rsquo;t proceed,&rdquo; said Mr Anderson.

[smartcode_project:default project_id=7758 project_image_fid=79424]

&ldquo;But what we are seeing now is the insurance market coming into high rise on the back of the reforms in the industry. This is the end piece of all the work we&rsquo;ve been doing. It&rsquo;s very exciting as we&rsquo;re now going to see an uplift in people having confidence in the market and buying off the plan.&rdquo;

The NSW Government announced a specialist Ministerial Advisory Panel to advise on the introduction of decennial liability insurance (DLI) into the Australian market.

[smartcode_project:default project_id=7758 project_image_fid=150446]

The panel will be chaired by past Insurance Council of Australia president Gary Dransfield with other members including:

&middot; &nbsp; &nbsp; &nbsp; &nbsp;Michael Bennett - General Manager, Property &amp; Construction Finance, Commonwealth Bank of Australia

&middot; &nbsp; &nbsp; &nbsp; &nbsp;Albert Chan - Executive Director, Meriton Group

&middot; &nbsp; &nbsp; &nbsp; &nbsp;Michael Corcoran - Co-founder and Executive Director, Solido Development Finance

&middot; &nbsp; &nbsp; &nbsp; &nbsp;Chris Duggan &ndash; President, Strata Communities Association (NSW)

&middot; &nbsp; &nbsp; &nbsp; &nbsp;Stefan Hicks &ndash; Founding Director, SHC Insurance Brokers,

&middot; &nbsp; &nbsp; &nbsp; &nbsp;Chris Kelly - Construction Manager, Billbergia

&middot; &nbsp; &nbsp; &nbsp; &nbsp;Darren Maher - Chief Underwriting Officer, IAG

&middot; &nbsp; &nbsp; &nbsp; &nbsp;Steve Mann &ndash; Chief Executive Officer, Urban Development Institute of Australia NSW

&middot; &nbsp; &nbsp; &nbsp; &nbsp;Corey Nugent - Senior Operations Manager, Insurance Council of Australia

&middot; &nbsp; &nbsp; &nbsp; &nbsp;Fabrizio Pirelli - Chief Executive Officer, TOGA Development

&middot; &nbsp; &nbsp; &nbsp; &nbsp;Jessica Rippon - Principal Solicitor, Construction Legal, representing the Owners Corporation Network

&middot; &nbsp; &nbsp; &nbsp; &nbsp;Nicholle Sparks - General Manager, Frasers Property Australia

&middot; &nbsp; &nbsp; &nbsp; &nbsp;David Tanevski - Managing Director, KWC Capital Partners, and Founding Director, Urban Taskforce 
&nbsp;

NSW off-the-plan apartment buyers will be offered 10-year insurance against defects in their building

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