Prominent Malaysian developer <a href="https://www.apartments.com.au/developers/osk-property">OSK Property</a> has unveiled <a href="https://www.apartments.com.au/new-apartments/aura-at-melbourne-square-7-hoff-boulevard-southbank-vic-3006">Aura</a>, the next stage of its $3.5 billion Melbourne Square precinct in Southbank, continuing its push into wellness-led, amenity-rich apartment living.

The $800 million tower, planned for 7 Hoff Boulevard, will rise 67 storeys and deliver 673 apartments, with COX Architecture drawing on both Japanese design principles and Australia’s natural landscape to shape the building’s identity. A rectangular grid aesthetic defines the building’s exterior, with COX drawing design cues from New York high-rises and Tokyo’s skyline.

Aura builds on a growing trend in high-density living, where wellness is no longer an add-on but central to the product. The development is structured around four key pillars, combining calm, minimalist residences with layered communal spaces, landscaped gardens, and a suite of wellness amenities designed to support both physical and mental wellbeing.

[smartcode_project:default project_id=151921 project_image_fid=367465]

At the core of the project is what OSK describes as a vertical wellness ecosystem, a multi-level approach to amenity that integrates health, lifestyle, and social spaces throughout the building rather than confining them to a single level.

The main resident hub, the Aura Club on level seven, will include a pool, cold plunge, spa, gym, Pilates and yoga studios, alongside more lifestyle-driven inclusions like a golf simulator, music rooms, library, and work-from-home spaces. Above, a series of higher-level amenity zones, including the Meridian Club and Cumulus Club, introduce more refined, social and retreat-style environments, with private dining, lounges, and premium wellness spaces positioned to take advantage of city views.

[smartcode_project:default project_id=151921 project_image_fid=367467]

The residences themselves will largely include balconies, a key design move in a market increasingly focused on natural light, airflow, and connection to the outdoors. Views will extend across the CBD, the Arts Precinct, Royal Botanic Gardens, and beyond.

Aura also introduces approximately 1,600 sqm of retail across the lower levels, further activating the Melbourne Square precinct, which already includes Kennedy Park, a Woolworths, childcare, and a growing mix of hospitality operators.

[smartcode_project:default project_id=151921 project_image_fid=367474]

“Aura stands tall as an exemplar of holistic wellness – its focus on social, physical and mental health culminate in a building that is calming, restorative and relaxing, where residents will have their own sanctuary within the well-connected and sought-after <a href="https://www.apartments.com.au/developments/southbank-vic-3006">Southbank</a>," says&nbsp;OSK Property CEO Chong Boon Woon.

“We have been very encouraged by the market’s response to the BLVD offering, and we know there is a strong demand for the level of amenity, service and design that the Melbourne Square precinct is known for.

“Complemented by work-from-home lounges for professionals, family friendly outdoor garden spaces, and state-of-the-art fitness and wellness facilities, Aura will continue our focus on maximising physical, emotional, and mental wellbeing,” he said.&nbsp;

[smartcode_project:default project_id=151921 project_image_fid=367475]

The project follows the strong performance of BLVD, which is now around 80 per cent sold, and reinforces OSK Property’s long-term commitment to Melbourne Square as a fully integrated, mixed-use precinct.

Construction is expected to commence in late 2026.

[smartcode_project_cta:default project_id=151921]

Joel Robinson

OSK unveils AURA, the latest stage in Southbank's $3.5 billion Melbourne Square precinct

National developer Time &amp; Place appears to have settled on a design for its long-anticipated Potts Point project.

After several years of back and forth with local council and the NSW Government, the developer, which has spent close to a decade targeting the former The Chimes site on Macleay Street, has now progressed its plans.

Following a concept design submission last year by SJB, Time &amp; Place has lodged a full State Significant Development Application with the NSW Government, this time for a scheme designed by Kerry Hill Architects.

<img alt="Time &amp; Place" data-entity-type="file" data-entity-uuid="504d2a27-d65f-4227-8189-1e35e3376e62" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-20%20at%209.38.24%E2%80%AFAM.png?VersionId=_XqFKATYHF30KnVByPxhaI9UBzmkmfn7" />

The 16-storey proposal includes 44 apartments, 21 of which will be build-to-sell. These will comprise 19 three-bedroom apartments and two four-bedroom penthouses.

More than 50 per cent of the development will be dedicated to affordable housing, with 23 one- and two-bedroom apartments delivered in line with the NSW Government’s Housing SEPP.

Kerry Hill Architects said the proposal is driven by a strong response to place.

“Our proposal for a new residential building for Potts Point in Sydney is driven by a deep consideration of place,” the practice said in its submission.

“This operates on multiple levels, including a landscape approach that reinstates endemic flora of the Sydney peninsula and provides a ground-floor garden for residents, reconnecting the site to its pre-European history. A brick podium further strengthens this relationship to context, integrating planting and fine bronze detailing that references the predominant material language of Macleay Street.”

The three-level podium will be topped by a communal resident space, featuring a covered pool designed to receive direct afternoon sun in winter, a neighbouring reflection pool, dining and event areas oriented to maximise sunset views, and an outdoor exercise zone.

<img alt="Time &amp; Place" data-entity-type="file" data-entity-uuid="8d3eedc1-babb-44a3-bd96-d8a42f3adf1f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-20%20at%209.37.48%E2%80%AFAM.png?VersionId=Ii7.4dvqNatu5GQi6bhqNjAswrMB998." />

The design also incorporates highly crafted shopfronts and a clearly defined residential entry to activate the street. Juliette balconies to the podium residences will provide passive surveillance and a strong sense of habitation.

Above, the larger apartments are housed within a light-coloured masonry and bronze tower.

“The tower steps back in a series of gently curved volumes that reference the rich Art Deco context of Macleay Street,” the architects said. “Carefully calibrated vertical fins frame the views while providing privacy and a sense of refuge.”

<img alt="Time &amp; Place" data-entity-type="file" data-entity-uuid="6fab60f4-3140-4469-b47a-48c781e0a30b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-20%20at%209.28.44%E2%80%AFAM.png?VersionId=e5XxrM3kzdASdKlcIACHAHbOSZhSKC9O" />

Time &amp; Place has been one of the most active developers nationally in the last 12 to 24 months. Late last year they completed&nbsp;The Queensbridge in&nbsp;<a href="https://www.apartments.com.au/developments/southbank-vic-3006">Southbank</a>, a mixed-use tower with 353 apartments and a hotel. They are currently selling Park Modern, 246 apartments near the famous Botanic Gardens in South Melbourne.

The developer has approval for The Burke, a mixed-use project in&nbsp;<a href="https://www.apartments.com.au/new-apartments/glen-iris-vic-3146">Glen Iris</a>&nbsp;being delivered in partnership with Woolworths. The 60 apartments, positioned above a new Woolworths supermarket, are expected to launch in the coming months. Time &amp; Place is also progressing plans for the redevelopment of&nbsp;<a href="https://www.apartments.com.au/developments/northcote-vic-3070">Northcote</a>&nbsp;Plaza, and have recently submitted plans for a <a href="https://www.apartments.com.au/news/vic/time-place-unveils-plans-22-storey-south-melbourne-tower">22-storey tower</a>, another in South Melbourne.

In&nbsp;<a href="https://www.apartments.com.au/developments/sydney-nsw">Sydney</a>, the developer has two projects in Manly: Two Tides, which is currently under construction, and an ultra high-end building on&nbsp;<a href="https://www.apartments.com.au/buildings/shoreline-manly-beach-89-90-north-steyne-manly">North Steyne</a>, fronting the beach. It is also continuing to work through the redevelopment of The Chimes building on Macleay Street in&nbsp;<a href="https://www.apartments.com.au/developments/potts-point-nsw-2011">Potts Point</a>, as well as Marlborough House, the redevelopment of the original David Jones warehouse building in&nbsp;<a href="https://www.apartments.com.au/developments/surry-hills-nsw-2010">Surry Hills</a>.

First look: Time & Place settles on design for The Chimes, Potts Point redevelopment

<a href="https://www.apartments.com.au/developers/develotek">Develotek</a> is joining the likes of TOGA, Deicorp, and One Global Capital, betting on a boom in Five Dock ahead of the 2032 mooted opening of the Five Dock Metro Station.

Develotek, which is currently developing Bianca on the Drummoyne waterfront and has plans approved for a tower in Chatswood, has filed a State Significant Development Application for a <a href="https://www.apartments.com.au/new-apartments/79-81-queens-road-five-dock-nsw-2046">two-building project in the evolving Kings Bay precinct</a>.

The buildings, one more boutique just five storeys and the other 26 storeys, will rise from an 3,158 sqm site across&nbsp;79–81 Queens Road and 2–8 Spencer Street, will home 134 one-, two-, and three-bedroom apartments, above ground-floor retail and five basement levels of parking.

A key component of the proposal is the inclusion of 15 per cent of residential floor space as in-fill affordable housing, unlocking additional height and density under the Housing SEPP.

<img alt="First Look: Develotek lodges State Significant shop top housing project in Five Dock precinct" data-entity-type="file" data-entity-uuid="3ee31bf7-75ba-4bc5-b190-49885193219f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium_2.png?VersionId=730UbrduuwK3C1sO28RHjiLPUPqXqjkh" />

Designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a>, the scheme adopts a podium-and-tower configuration, with a five-storey street wall along Queens Road transitioning to a 26-storey tower set deeper into the site. The ground plane prioritises activation and permeability, with retail frontages and a new through-site link connecting Queens Road to Spencer Street.

At the upper levels, the tower façade has been conceived using a modular system to support prefabrication and reduce construction waste, while improving build efficiency. The splayed form draws on the geometry of surrounding industrial rooftops, reinterpreting the area’s heritage in a contemporary expression while also helping to reduce solar heat gain to east and west-facing apartments.

“This project aspires to transform a former industrial site into a connected, resilient and people-focused urban community, grounded in Country, shaped by history, and designed to enrich everyday life within the evolving Kings Bay Precinct,” said John Walsh, Principal at Plus Studio.

The proposal reflects the broader transformation of the Kings Bay Precinct under the Parramatta Road Corridor Urban Transformation Strategy, marking a shift from its industrial past to a higher-density, mixed-use urban neighbourhood.

<img alt="First Look: Develotek lodges State Significant shop top housing project in Five Dock precinct" data-entity-type="file" data-entity-uuid="abde734c-1e31-4a97-a1d2-fa9bcf31c380" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/building%20podium.png?VersionId=fNUupP6u146yEytQT31kKVRxwtACgPpP" />

Develotek is emerging as an active participant in the state’s affordable housing-led uplift pathway. The developer recently secured approval for a 34-storey mixed-use tower in Chatswood, where it similarly leveraged the in-fill affordable housing provisions to increase scale and deliver a 101-unit scheme with dedicated affordable apartments.

Their entry into Five Dock places them alongside a growing list of developers targeting the suburb ahead of its anticipated transport uplift, with Sydney Metro set to extend into the area. Major players including TOGA, Deicorp, and One Global Capital are all progressing large-scale precinct-style developments nearby, collectively reshaping the low-rise industrial fabric into a higher-density mixed-use corridor.

The Five Dock site sits within the Kings Bay Precinct, a key renewal area under the Parramatta Road Corridor Urban Transformation Strategy, where planning controls support significant uplift tied to affordable housing delivery. The consolidated 3,158 sqm site is currently occupied by low-rise industrial uses, including warehouses and vehicle workshops, earmarked for transition.

First Look: Develotek joins in Five Dock apartment boom

Ascot’s Racecourse Road continues to be a hive of activity for Brisbane developers.

Following Fortis and GRAYA, which are both preparing new projects along the key strip connecting Kingsford Smith Drive and Eagle Farm Racecourse, local developer <a href="https://www.apartments.com.au/developers/skyhold">Skyhold</a> is the latest to lodge plans for its own development.

The group is proposing One One Two Residences, a boutique project comprising just seven apartments, named after its address at 112 Racecourse Road.

The proposal outlines a five-storey building on an 810 sqm site. The built form slightly exceeds the four-storey expectation under the neighbourhood plan, aligning instead with the emerging character of the strip. As the planning report notes, “the locality is characterised by a transition toward medium-rise residential development, with a number of recent developments… above the stipulated height limits.”

<img alt="First Look: Skyhold lodges plans for boutique Ascot apartments as Racecourse Road revival gathers pace" data-entity-type="file" data-entity-uuid="ec577631-8c51-4163-960e-e7b3a77d655b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Ascot.png?VersionId=iAzQ46D4Uu1UqiS0mVnlcy9jeFKBpJIj" />

Designed by 111 with landscape architecture by <a href="https://www.apartments.com.au/landscape-architect/paul-bangay-garden-design">Paul Bangay Studio</a>, the scheme adopts a layered architectural approach with strong articulation and a subtropical response. Deep balconies, integrated planters, and a mix of masonry and textured finishes define the façade, while upper-level setbacks reduce perceived bulk. The architectural statement describes “a series of horizontally expressed layers, defined by deep balconies and a consistent robust material palette,” aimed at delivering a refined streetscape presence.

Apartments are configured as large-format residences, including multiple three-bedroom layouts and a full-floor penthouse, supported by ground-level parking. A rooftop terrace will provide communal amenities including a pool and landscaped recreation areas. The design prioritises privacy, natural ventilation, and greenery, with planting integrated across all levels to soften the building form and contribute to the public realm.

<img alt="First Look: Skyhold lodges plans for boutique Ascot apartments as Racecourse Road revival gathers pace" data-entity-type="file" data-entity-uuid="1e1219bd-b45a-4d7f-bbc7-7207d7b2fc94" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Ascot%20entry.png?VersionId=JIoUOLMgQ5xWpEF0etEI3ffIoIVjD7gO" />

The proposal sits within the Racecourse Road precinct, a key mixed-use spine in Ascot that continues to attract renewed development interest.

Later this year national developer Fortis will launch its own boutique development, which, pending council approvals, will be 16 apartments designed by Koichi Takada Architects, just down the street.

“Racecourse Road is going through a massive revitalisation and we’re proud to be a part of that transformation,” said Fortis's QLD General Manager, Dan Boman.

Nearby, GRAYA is advancing its larger-scale The Gallery, a mixed-use shop-top housing project designed to act as a “catalytic project for Racecourse Road.”

First Look: Racecourse Road, Hamilton revitalization to continue as Skyhold joins the party

Twenty-five years after launching one of Australia’s most visionary and successful masterplanned beach communities - Casuarina on the Northern NSW Tweed Coast - developer Consolidated Properties Group has unveiled plans for an $800 million sister project located 10 kilometres south, at Cudgera Creek near the coastal town of Pottsville.

CPG has taken the wraps off Caldera, a 78-hectare masterplanned village that builds on the legacy of Casuarina and aims to help address Northern NSW’s coastal housing shortage via the delivery of 550 homes built in a sustainable manner and addressing affordability and housing diversity, while also focusing on architectural and ecological merit.

Caldera is being brought to life by the same creative team that delivered Casuarina, led by Consolidated Properties CEO and chairman Don O’Rorke, Hutchinson Builders chairman Scott Hutchinson and renowned urban designer Brian Toyota, of architectural practice Bureau Proberts.

CPG has lodged a rezoning application with Tweed Shire Council for the Caldera site, which has been designated since 1991 as the Dunloe Park Urban Release Area, the final land release area within the Pottsville locality and one of only four remaining growth areas along the entire Tweed coastal strip. Preliminary plans for Caldera feature a 13-hectare retail and commercial precinct at the core of the village, surrounded by meticulously planned residential areas comprising around 550 homesites.

The retail hub will be anchored by a Coles Supermarket and will offer 7000 sqm of retail and 23 commercial lots designed to serve the local community and bring together curated shopping, dining, gym, wellness, childcare, medical and other essential services.

<img alt="Cons prop" data-entity-type="file" data-entity-uuid="fca7dc71-4b71-45b1-bb04-5a60bd7158d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-20%20at%208.34.04%E2%80%AFAM.png?VersionId=vAKwIvLuwmTKj6blHJRYIEeXS_8lCgUx" />

The project will create more than 1500 jobs over its development cycle, according to its economic modelling, and significantly address the shortage of employment land in the Tweed.

The residential areas will encourage a sense of community via a cohesive urban design that encourages walking, cycling, enhanced resident connectivity and reduced reliance on cars via bike paths and pedestrian-friendly streets.

Homesites will include a range of options from premium ridge-top homes to affordable housing options, ensuring a community that is inclusive of different income levels and designed to appeal to a wide demographic from baby boomers to families, singles and professionals. Architectural and planting covenants on home building will support the village’s built form and protect its character.

O’Rorke says CPG intends Caldera to be a model project delivered efficiently in a dedicated urban release area and ‘very much for this region and for this time’.

“Our vision for Caldera is to create a modern coastal village with its own unique northern NSW identity,” he said.

“Building on our legacy of Casuarina, 25 years on, this new village is designed to stand apart, offering the future of modern living, balancing the natural beauty of the region with contemporary amenities and convenience.

“Caldera will be more than just a place to live - it will be a welcoming, inclusive coastal village neighbouring Pottsville that invites visitors and embraces new residents. With its strong ties to the land, vibrant lifestyle and sense of place, Caldera will set a new standard for village living in Northern NSW.”

<img alt="CPG" data-entity-type="file" data-entity-uuid="9a5a7cf4-5f76-4ddf-bd05-c8fb77d0a787" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-20%20at%208.33.59%E2%80%AFAM.png?VersionId=J1CzCGD7kE7fcAMd41V4pKAf_sI4L5Jv" />

The project’s centrepiece is environmental sustainability, with comprehensive wetlands protection measures and planting of native trees, parklands, village greens and communal grounds to enhance the natural beauty of the area.

CPG will also deliver a developer-funded wastewater treatment plant to ensure zero ocean outflows and provide high quality long-term infrastructure for Tweed Shire.

A key focus is wildlife management planning, including extensive conservation controls for the West Pottsville koala population, aligned with Tweed Shire Council’s Koala Plan of Management and designed to enhance koala habitat connectivity and future population growth.

Caldera will extend the existing koala corridor by connecting koala precincts west of the Pacific Highway with populations in the north and east precincts. A koala underpass will be created under Pottsville Road to complete the connection of this important corridor. Native tree plantings will expand essential koala food sources, while approximately eight kilometres of exclusion fencing will be constructed to safeguard the koalas from urban threats.

The Caldera site is nestled in the hills of Cudgera Creek and benefits from its rich natural surroundings including the Pottsville Wetland, Cudgera Creek Nature Reserve and nearby Pottsville Beach.

It takes its name from the surrounding Tweed Shield Volcano and Caldera, the vast bowl-shaped depression stretching from Byron Bay to the Queensland border that 20 million years ago was the world’s largest shield volcano and which has shaped the region’s striking landscape, with Mount Warning standing as one of its most iconic features.

The development is a joint venture between CPG and Pottsville Development Corporation, which made its first investment in Pottsville more than 45 years ago and is the developer of Black Rocks By the Sea, a masterplanned community now part of the fabric of Pottsville and which was the catalyst for the construction of a bridge across the Pottsville Estuary, providing direct access to the beach.

CPG’s $1.5 billion Casuarina Beach township, 10 kilometres to the north of Caldera, commenced construction in 2000 and has become the model for modern Australian, eco-sensitive beachside development.

Consolidated Properties unveils $800m coastal village Caldera in Casuarina

Sydney Cbd

Joint venture development partners ICD Property and Belingbak have commenced a design competition for their redevelopment of a Sydney CBD tower.

The&nbsp;372-382A Pitt Street project will see&nbsp;five of Australia’s most renowned architects submit their future vision for the site, with the winner set to be appointed as the project’s architect.

Competing in the process is Woods Bagot, Neeson Murcutt &amp; Neille partnered with Bates Smart, Kelly Hill Architects partnered with Crone, Fitzpatrick &amp; Partners partnered with Tonkin Zulaikha Greer, and fjmt studio – who will each design and present their interpretation for the future CBD tower before a jury of independent judges in January 2023.

<img alt="Render of the proposed tower" data-entity-type="file" data-entity-uuid="b2b3df7d-4a8e-45cb-aeca-4d2208fbe17a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/372%20PITT%20ST_Hero_FINAL.jpg?VersionId=4_9VCYJUBmnzvCcC.5rL4HRYGZms_nPr" />

The low-rise commercial building in Sydney’s CBD tech precinct is set to be transformed into a 58-storey tower comprising 30 luxury residences, along with a 297-room hotel and a collection of retail, entertainment, food and public art offerings.&nbsp;

ICD Property and Belingbak hope the competitive design process will fuel inspiration and uncover the highest and best design outcome for the aspirational tower.

ICD Property’s CEO Matt Khoo said they intentionally selected five distinct architecture teams to participate in 372 Pitt’s design competition, endeavouring to arrive at five very unique possibilities for the site.

Speaking to why no international architects were invited to compete, Khoo said it was important to utilise local talent.&nbsp;

“With the tower set to become a future landmark in Sydney’s urban fabric, we wanted it to be a reflection of the city’s inimitable charm, history, and people. It’s a very rare opportunity to be part of a skyline-defining tower in one of the world’s most famous cities,” Khoo said.&nbsp;

“The personal touch each local architect we selected could bring to this process felt necessary to do justice to our vision of a tower that will hopefully one day join the ranks of its neighbouring iconic landmarks.”

The developers are looking for the architects to celebrate the current building typology, with an activated street frontage and a diverse offering.&nbsp;

Belingbak’s founding Director, Jack Montgomery said the patina and character the surrounding buildings offer is priceless.&nbsp;

“The celebration of these elements will in turn provide for a captivating, inviting street frontage with an array of uses. Our vision for a vertical integrated tower will come to life as the new tower form takes shape,“ he said.

372 Pitt’s design competition officially commenced in November, with ICD and Belingbak aiming to announce a winner in January next year.&nbsp;

[smartcode_project_cta:default project_id=110966]

The joint venture has invited five of Australia’s most renowned architects to submit their future vision for the site, with the winner set to be appointed as the project’s architect.

alisonwarters@gmail.com

Belingbak and ICD Property launch design excellence competition for 372 Pitt Street

The push for residential towers on the fringe of Sydney&#39;s most central park continues.

Chinese-Australian billionaire Hui Wing Mao is the latest to file plans overlooking Hyde Park in the middle of the Sydney CBD.

&nbsp;Mao&nbsp;is aiming to demolish the two office towers at 175 Liverpool Street, which he bought for&nbsp;$390 million in 2014, and create two residential towers, which will home 289 apartments across both 118 metre buildings.

<a href="/new-apartments/169-183-liverpool-street-sydney"><img alt="" height="1130" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-07-07_at_8.59.00_pm.png" width="1656" /></a> 
The Liverpool Street towers from Hyde Park. Image credit: Bates Smart

Mao, who heads the Shanghai-based Shimao Group, always had plans to redevelop the commercial space into apartments, with the proposal also set to include the renewal of the existing pocket park to the south of the site.

The two 36-storey mixed-use towers will be separated with a through site link and a newly developed public open space, in addition to over 11,000 sqm of retail and commercial space, which will be located in the lower six levels of the tower and in the basement.

Following the second-round deliberations, the Jury selected by unanimous vote the&nbsp;<a aria-label="Bates Smart - opens in new tab" data-uw-rm-brl="false" data-uw-rm-ext-link="" data-uw-styling-context="true" href="/architects/bates-smart" target="_blank" uw-rm-external-link-id="https://www.urban.com.au/architects/bates-smart$batessmart">Bates Smart</a>&nbsp;scheme as the winner.&nbsp;

The Jury praised the scheme for its more solid fa&ccedil;ade response, with the widened masonry frame providing additional depth in the fa&ccedil;ade, reducing the tendency for the project to appear as a dark, glazed box and improving its passive solar control.

The&nbsp;<a aria-label="Bates Smart - opens in new tab" data-uw-rm-brl="false" data-uw-rm-ext-link="" data-uw-styling-context="true" href="/architects/bates-smart" target="_blank" uw-rm-external-link-id="https://www.urban.com.au/architects/bates-smart$batessmart">Bates Smart</a>&nbsp;scheme sought to create a respectful and responsive building, designed to be a &quot;quiet and calm&rdquo; backdrop to the Anzac Memorial.

<a href="/new-apartments/169-183-liverpool-street-sydney"><img alt="" height="1116" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-07-07_at_8.59.22_pm.png" width="1706" /></a> 
How the towers will look from Hyde Park.&nbsp;Image credit: Bates Smart

&ldquo;Our aim is to build respectfully and quietly in the context of the War Memorial; neither replicating its materiality &amp; detail, nor negating them, but rather being a responsible supporting element in the of composition with the Memorial, and a complimentary backdrop,&rdquo; Bates Smart noted in their design application.

The scheme was also praised for its response to the ground plane, providing a successful through site link and Urban Room that responded to the wind issues on the site, and provided a useable space.

The Urban Room will incorporate an interpretative public artwork by Yhonnie Scarce, located off Liverpool Street, providing a connected, formal entry to the residential towers, as well as sheltered outdoor dining spaces and connection to the renewed pocket park.

&ldquo;Scaled to respond to the War Memorial it honours the historic sequence of spaces on the Memorial axis by extending it across our site to Surry Hills.&rdquo;

<a href="/new-apartments/169-183-liverpool-street-sydney"><img alt="" height="1112" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-07-07_at_8.59.28_pm.png" width="1696" /></a> 
The proposed ground level retail space. Image credit: Bates Smart

Bates Smart said their primary intention was to respect the axial symmetry of the War Memorial and Hyde Park, which led them to design a pair of identifcal towers framing the Memorial Axis.

&quot;To respect the primacy of the Memorial we designed a &lsquo;quiet&rsquo; building free from visual distractions and unnecessary formal manipulation, that would not distract from the visual prominence of the memorial,&quot; the statement read.

&quot;Finally, we have created a civic architecture that respects the formality of Memorial and the Hyde Park axis; and indeed Hyde Park itself, as one of Sydney&rsquo;s greatest urban rooms.

&quot;Recalling the War Memorial&rsquo;s stately materiality and paired back simplicity, we developed a recessive palette of honed and polished precast concrete and brickwork, with bronze metallic detailing. Using the elemental simplicity of a column &amp; lintel frame as a unifying language, the finishes adjust to the contrasting urban conditions.

&quot;The frames vertical proportions reference the Memorial&rsquo;s scale and proportions and the towers terminate on the skyline in an open air loggia, balancing the compositions symmetry in a civic celebration of Hyde Park&rsquo;s axis.&quot;

<a href="/new-apartments/169-183-liverpool-street-sydney"><img alt="" height="972" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-07-07_at_9.53.26_pm.png" width="1508" /></a> 
Where the two office towers currently stand. Image credit: Bates Smart

There&#39;s been a boom over the last 12 months around the leafy Hyde Park, with the supply of prime&nbsp;new CBD&nbsp;apartments not keeping up with the demand.

Currently selling&nbsp;is 111 Castlereagh Street, which sits just off Hyde Park, and Castle Residences, down the road at the other end of the park.

In the last year there&#39;s been plans submitted by Deicorp for their redevelopment of the Polding Centre, and Central Element has plans for a $100 million, 53-apartment tower to replace the 16-level Hyde Park Inn Hotel.

Last year the alternative asset manager&nbsp;<a aria-label="Fife Capital - opens in new tab" data-uw-rm-brl="false" data-uw-rm-ext-link="" data-uw-styling-context="true" href="/developers/fife-capital" target="_blank" uw-rm-external-link-id="https://www.urban.com.au/developers/fife-capital$fifecapital">Fife Capital</a>, led by Allan Fife, submitted plans for a 17-level tower to&nbsp;sit alongside a heritage-conscious redevelopment of the George Bosch Chambers and St James Hotel&nbsp;building that has stood since the 1920s.

The development of two lots,&nbsp;114-120 Castlereagh Street and 139 Elizabeth Street, will see just 26 apartments built, only starting from level 10, with the rest of the building being commercial.

[smartcode_project_cta: project_id=113346]

The two 36-storey mixed-use towers will be separated with a through site link and a newly developed public open space, in addition to nearly 11,000 sqm of retail and commercial space, which will be located in the lower six levels of the tower and in the basement.

Sydney CBD's residential push continues with new Hyde Park dual-tower development plans

The Chatswood CBD skyline is set for a further revamp, with plans for a soaring 90-metre tower lodged by the continually busy Goldfields Group.

Located at 871-877 Pacific Hwy, the $50.6 million project is set to deliver 76 apartments, along with three levels of retail and office space, on a 1,432 sqm site wedged between the North Shore Rail Line and the Pacific Hwy.

Make Architects were selected to lead the design of the project following a competition, with the initial entries lodged back in 2021, before being reworked and refined to what it is today.

The buildings form is massed, with the strategy in place to create a clean, slender tower, according to the architects.

<a href="/new-apartments/the-bryson-of-chatswood-3-wilson-street-chatswood-nsw-2067">To track the project and be alerted when it hits sale, enquire here.</a>

<a href="/new-apartments/the-bryson-of-chatswood-3-wilson-street-chatswood-nsw-2067"><img alt="" data-entity-type="" data-entity-uuid="" height="1044" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-05-19_at_12.34.45_pm.png" width="780" /></a> 
A render of the proposed development at&nbsp;at 871-877 Pacific Hwy. Credit: Make Architects

“The resulting envelope is a simple elegant mass, split into 4 vertical quadrants. An open level of residential amenity helps create a clear delineation between the commercial podium and the residential tower above,” said Make in their design proposal.

Built with a series of four vertical blade walls, the development intends to maximise both residential and public amenity by the way of outdoor terraces and public open space.

The facades of the bladed walls have been designed to maximise solar amenity, views and ventilation, while also providing shading and privacy.

Residences begin from level four, with the vertical blade walls splitting the floor plate into four quadrants, with each quarter becoming its own apartment.

“This promotes a feeling of individuality and ownership as well as providing visual privacy for each apartment,” Make Architects commented.

Levels 13 to 22 will home the typical mid residences, with this section of the building containing three apartments per floor.

The upper residences land across levels 23 to 25, with two three-bedroom apartments proposed, each with their own corner balcony, as well as a dedicated master-bedroom balcony.

<a href="/new-apartments/the-bryson-of-chatswood-3-wilson-street-chatswood-nsw-2067">To track the project and be alerted when it hits sale, enquire here.</a>

<a href="/new-apartments/the-bryson-of-chatswood-3-wilson-street-chatswood-nsw-2067"><img alt="" data-entity-type="" data-entity-uuid="" height="776" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-05-23_at_3.00.38_pm.png" width="1296" /></a> 
Podium axonometric. Credit: Make Architects.

Crowning the tower, on level 26 will be the single penthouse apartment, with the quadruple-aspect residence providing 360 degree views out over Chatswood and to the distant Sydney CBD. Following an open plan design internally, the penthouse benefits from a large south facing entertaining terrace and adjoining plant room, as well as two north facing corner terraces.

There will be 11 one-bedroom apartments,&nbsp;48 two-bedders, and 17 three-bedroom apartments.

Private residential amenity is shared over the two podium rooftop levels. The southern rooftop at level two provides communal working and dining facilities, equipped with an outdoor dining area and a fire pit lounge, set amongst a walled garden and a planted terrace edge.

With a blend of social and practical uses, this amenity space provides residents with a tangible connection to lush green landscaping and native species says Make.

“Residents are encouraged to connect with nature by nurturing and harvesting the culinary species grown within the raised planters on the terrace.”

<a href="/new-apartments/the-bryson-of-chatswood-3-wilson-street-chatswood-nsw-2067">To track the project and be alerted when it hits sale, enquire here.</a>

<a href="/new-apartments/the-bryson-of-chatswood-3-wilson-street-chatswood-nsw-2067"><img alt="" data-entity-type="" data-entity-uuid="" height="613" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-05-23_at_4.52.28_pm_0.png" width="770" /></a> 
Proposal axonometric. Credit: Make Architects

The level three northern podium rooftop will provide an expansive external leisure terrace fitted out with an 18-metre lap pool, yoga terrace, sunken lounge, floating sunbeds and a garden reading lounge.

With a string of other major proposals currently under assessment, Goldfields said “the proposal would meet population growth in Chatswood partly driven by the opening of the new Metro station which links the suburb to Sydney’s north west.”

The north shore rail line runs along the eastern boundary of the site with the development nearby to Chatswood Station and other transport links. Future cycle lanes are also intended along both the Pacific Highway and Anderson Street, allowing improved cycle access into Chatswood CBD and the wider area.

The area is due to undergo significant redevelopment as part of the Chatswood CBD strategy 2036, which will see a considerable expansion of the existing CBD to the north, with the proposal to be located at the northern tip on the new CBD.

The proposal is among a growing list of skyscrapers planned in the Chatswood CBD including a 26 storey redevelopment of the Chatswood Mandarin Centre, a 22 storey expansion of Chatswood RSL, a 15 story apartment building at 3 Ellis St, and three towers on the corner of Victoria Ave and Brown St that would include an 18 storey hotel.

Make Architects were selected to lead the design of the project following a competition, with the initial entries lodged back in 2021, before being reworked and refined to what it is today.

Goldfields Group lodge plans for Chatswood apartments

The landmark Sydney CBD watering hole, the Shelbourne Hotel,&nbsp;is set to look a little different.

The hotel at 200-202 Sussex Street, affectionately known by locals as &quot;The Shelly&quot; since its construction in 1902, looks like it will undergo a huge redevelopment, which will see a tower built above the current building and&nbsp;its heri​tage facade restored.

Turner Studio has put together the concept plans, which will also see the currently hotel reconfigured. Above&nbsp;is&nbsp;set to be 42 apartments, a mix of 17 one-bedroom apartments, 21 two-bedders and just four three-bedroom apartments.

There will be around 5,700 sqm of residential floor area across the tower, and 830 sqm of non-residential, which will be either offices or retail.

The submission was prepared on behalf of Towncorp Pty Ltd, directed by the Shelbourne&#39;s owners, the Powell family.

<a href="/new-apartments/sydney-nsw"><img alt="" height="828" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/shelbourne_hotel_2.jpg" width="1200" /></a> 
The proposed tower, to the left of the PWC building. Image credit: Turner Studio

&quot;There is a significant opportunity to re-establish the Hotel&rsquo;s connection to the public domain; retain and celebrate the heritage character of the Hotel; and create a slender tower addition that will contribute to the architectural diversity within the CBD skyline,&quot;&nbsp;a report by urban solutions company Ethos Urban noted.

&quot;The Shelbourne Hotel was built in 1902 and at the time was a key landmark adjacent to Pyrmont Bridge at the western gateway to the city.

&quot;Overtime, the Hotel and the surrounding area&rsquo;s legibility, connectivity to public domain and the Pyrmont Bridge has diminished.

&quot;The redevelopment has the potential to re-establish the Hotel&rsquo;s relationship and connections with the street and wider public domain and reactivate the immediate area in a manner that compliments the future Cockle Bay redevelopment, celebrates the site&rsquo;s heritage and creates a slender gateway tower at the corner of Sussex Street and Market Street.

&quot;Redevelopment will bring new life to an aged asset.&quot;

"Overtime, the Hotel and the surrounding area’s legibility, connectivity to public domain and the Pyrmont Bridge has diminished," a report submission noted.

Sydney's Shelbourne Hotel gets concept plan for mixed-use apartment, retail and commercial tower

Cbus Property have reported the sale of three luxury apartments worth $66 million in the 111 Castlereagh St development.

The buyers came from the eastern suburbs and lower north shore.

The biggest sale was a 460sq m double-storey penthouse that fetched about $35 million.

It is called the Jones Residence,&nbsp;named after Sir Charles Lloyd Jones who led the success of the David Jones expansion on which the property sits.

The residence boasts 360‑degree views across the city and towards the Blue Mountains, capturing Hyde Park, Sydney Harbour, the Eastern Suburbs and beyond.

[smartcode_project:default project_id=94354 project_image_fid=170432]

The two smaller sub penthouses in the 101-unit project sold for about $15.5 million each.

The sales marked "a resurgence in the return of Sydney city living and the ongoing appetite for high-end, primely located residential property, despite the challenges of the current COVID-19 climate,” Cbus Property CEO Adrian Pozzo said.

Selling agent Colliers Residential managing director Peter Chittenden said the four-bedroom penthouse occupies part of level 33 and the entire 34th level and includes two kitchens, living areas, a wine cellar and a butler’s pantry.

Cbus has two four-bedroom sky homes and a selection of expansive one, two and three-bedroom residences still for sale in the project set to be finished by the end of 2023.

[smartcode_project_cta: project_id=94354]

Three luxury apartments have been sold off-the-plan in the 111 Castlereagh St development

jchancellor-FAypfDUnLy

$35 million penthouse sale secured in 111 Castlereagh by Cbus

The Sydney CBD is set for a new mixed-use residential and office development.

Fife Capital, the alternative asset manager led by Allan Fife, has lodged plans for two towers in the heart of the CBD, one residential and one commercial&nbsp;at 114-120 Castlereagh Street and 139 Elizabeth Street.

Fife paid $46 million for the two sites last year&nbsp;when buying from the hotelier Kim Maloney, the publican at Hotel Bondi.

114-120 Castlereagh, currently home to George Bosch Chambers,&nbsp;spans eight storeys and dates back to the mid 1920s. The St James Hotel currently occupies the lower ground, ground and first level.

That building will stay, with GML Heritage stating the building is culturally significant and should be retained and conserved, despite no heritage overlay of the 1920s-built building which underwent a renovation in the mid-1980s.

139 Elizabeth, to the rear of the Castlereagh building fronting Hyde Park, is a four-storey masonry building. With no significant enough heritage or streetscape impact, 139 Elizabeth will be demolished and make way for the 17-level apartment tower, which will home just 26 luxury apartments.

<img alt="" height="932" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/castle_location_2.jpg" width="1200" /> 
The development will be located across the road from&nbsp;the well-known David Jones Men&rsquo;s Store, which will be redeveloped by CBUS in to a 22-level residential tower at 77 Market Street. Source: City of Sydney

There will be&nbsp;one, two and three bedroom apartments, and a two-level, four bedroom penthouse across levels 15 and 16.

The majority of the units will face the park, with some facing Castlereagh Street and the lower levels facing Elizabeth Street and will contain wintergreens. A landscaped communal open space has been designed above the commercial building at level 10.&nbsp;The roof terrace provides communal facilities including BBQ area, outdoor dining and recreation areas.

<img alt="" height="805" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/castle_3_plan.jpeg" width="1200" /> 
The proposed Elizabeth Street frontage. Source: City of Sydney Council

Fife commissioned the Chippendale-based Tony Owen Partners to prepare the development application. &nbsp;&nbsp;&nbsp;

&ldquo;Whilst the site is tight, the proposal maximises the potential for landscaped are in this small inner city site,&rdquo; the design verification statement&nbsp;read.

Tony Owen Partners designed the 17-storey residential tower The&nbsp;Eliza, which adjoins one of the building&#39;s on Elizabeth Street for the Ceerose Group. 
 
<a href="/developments/sydney-nsw?source_news_article_id=106443&amp;ref=news_body_link"><img alt="" height="800" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/template_photoshop_sydneycbd.png" width="1200" /></a>

There was a design advisory panel held between the City of Sydney and Tony Owen Partners&nbsp;in February where issues about the development were discussed&nbsp;and resolved.

Overview of proposal:&nbsp;

&bull; Retention of retail space on the ground floor and basement of Castlereagh St building.&nbsp;

&bull; Retention of the fa&ccedil;ade and majority of building fabric of Castlereagh St building.&nbsp;

&bull; Existing levels of the Castlereagh St building to be refurbished as a commercial building as present.&nbsp;

&bull; Additional levels above the exiting building on Castlereagh St containing residential uses.

&bull; Additional cores and structure if required to support additional built form.&nbsp;

&bull; A new building on Elizabeth Street consisting of residential uses.

The development also located up the road from the soon-to-be-completed Castle Residences, the luxury 131 apartment by Urban Development Sydney which sits at 203 Castlereagh Street.

The Candalepas Associates-designed, 36-level tower, which incorporates hotel suites as well as residential apartments, is set for completion in December.

Urban Development Sydney has just relaunched the $18 million penthouse.

[smartcode_project:default project_id=7758 project_image_fid=150461]

Fife paid $46 million for the two sites in 2020 when buying from the hotelier Kim Maloney, the publican at Hotel Bondi.

Exclusive: Fife Capital lodge Castlereagh Street, Sydney CBD mixed-use apartment and office development

The Greg Shand-owned Barana Group are set to tweak their Kent Street, Sydney CBD mixed-use development.

They&#39;ve submitted a proposal to the City of Sydney Council which would sees the&nbsp;$88 million FJMT-designed tower no&nbsp;longer interconnected along the bottom levels.

Barana now want the towers to stand separately at 189-197 Kent Street. They are also seeking to raise the height of the approved development site to 110 metres from 80&nbsp;metres, as well as bring&nbsp;the north tower height closer to the south tower.

Barana&#39;s wording suggests they aren&#39;t expecting to see the amendment refused,&nbsp;given the development sits within a &#39;tower cluster&#39; area.

<img alt="" height="803" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/barana_2.jpg" width="1200" /> 
The original proposal was for the towers to be interconnected.&nbsp;Image source: City of Sydney

&quot;This &lsquo;amending&rsquo; DA seeks approval for additional height on the southern tower, removal of interconnected massing between the two towers, increased width of the through-site link, increased ground level setbacks to Kent Street, a resultant altered building envelope, and other design minor changes,&quot; the submission read.

&quot;Barana Group seeks to increase the building height of the south tower to meet the street frontage of the southern neighbour. This will allow a more gradual transition from the 80 height of the northern neighbour to the 110 m height of the southern neighbour separated by the through-site link forming a shadow joint.

&quot;These changes have been informed by the Central Sydney Planning Strategy and accompanying amendments to the Sydney Local Environmental Plan 2012, expected to be gazetted in mid-2021, which will increase the height limit for the site to 110m and identify it as being within a &lsquo;tower cluster&rsquo; area.

<a href="/developments/sydney-nsw?source_news_article_id=104764&amp;ref=news_body_link"><img alt="" height="800" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/sydney-cbd-_template_9.jpg" width="1200" /></a>

&quot;The proposed amendments do not alter the key approved key development metrics, including the number of dwellings, gross floor area and car parking numbers/layout.

There will be 125 apartments across one of the 24 storey towers.

A stage one development application was&nbsp;originally approved in September 2015. Five years later a&nbsp;new stage one development application&nbsp;was approved, superseding the 2014 application approval.

That was modified in December 2020 to reflect the stage two development application design from FJMT, who won a&nbsp;Competitive Design Alternatives Process which was held in accordance with the City of Sydney Competitive Design Policy and Design Excellence Strategy.

FJMT&rsquo;s scheme was selected by the panel as the winning design, beating design entries from Koichi Takada Architects, Woods Bagot and Bates Smart.

Barana's wording suggests they aren't expecting to see the amendment refused, given the development sits within a 'tower cluster' area

Barana Group seek to make mixed-use Kent Street, Sydney CBD tower taller

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The former Macquarie banker-turned-Nulux Energy chairman Tony Ferguson and his doctor wife Robin sold their off the plan Sydney apartment on Christmas Eve.

It ranks among Sydney’s highest apartments with their 2014 off-the-plan sub-penthouse on the 82nd floor of the yet to be completed Greenland Centre in the CBD.

The skyscraper is still under construction, with the couple deciding to stay in their $4.7 million Stamford on Kent Millers Point in-between apartment home since their Pymble home sold for $8.5 million

The sub-penthouse 82.01/115 Bathurst Street comes with a private lift.

Spanning about 179 square metres, it has views from the Sydney heads to Darling Harbour.

Each of the three bedrooms will have an en suite. There is also a study area.

Nic Krasnostein at Ray White Double Bay had a June expressions of interest for what was marketed as the building’s only north-facing sub-penthouse.

[smartcode_project:default project_id=7758]

The contract resale was up for $9.5 million to $10 million through Krasnostein and Residence Property’s Alex Vrisakis.

There was a $35 million asking price by Chinese-backed developer Greenland Australia for the King penthouse above.

The Greenland Australia developed Greenland Centre Sydney on Bathurst Street was anticipated for a 2020 completion, however delays now see its estimated completion towards the end of 2021.

The $700 million tower will soar 235 metres in to the sky with 481 apartments over the 67 levels to a design by Woods Bagot and BVN.

The Bathurst Street block initially saw a the 300 apartments in stage one sell out nearly eight years ago, with prices ranging from $595,000 for a studio to $4.38 million for a three bed, with a then anticipated 2017 completion date.
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It ranks among Sydney’s highest apartments situated on the 82nd floor of the yet to be completed Greenland Centre in the CBD.

jchancellor

Greenland Centre sub-penthouse off the plan resale

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Plans have been lodged to the City of Sydney council for a new hotel in the heart of the CBD.
The $57 million plans by Element Property Group will see the heritage-listed 1930s warehouse at 499 Kent Street remain, incorporating a new hotel set back from the front of the building.
<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/2020/NOV/24/Kent%20St%20hotel.jpg" alt="">
Element paid $52.5 million for the 810 sqm site, which was famously the film exchange for Universal Studios, in February.
In 2018 it was listed seeking over $55 million.
They've had the Sydney CBD firm PTW Architects draw up plans for the 220-room hotel which will retail on the ground level, a gym, a cafe, dining and lounge area and eight levels of basement parking.
PTW engaged UAP, an internationally renowned art and design firm specialising in collaborative place-making and the management of integrated art and design solutions for the public realm.
<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/2020/NOV/24/Kent%20St%20Hotel%203.jpg" alt="">
They prepared a Public Art Strategy doc for the development.
"The vision for the proposed redevelopment of the site is to deliver a boutique hotel that will provide welcoming ground floor public realm encouraging interaction between the building and the street frontage of Druitt Lane and Kent Street," the Public Art Strategy document reads.
"The façade of the building is unique and is designed in an Inter-War Stripped Classical Style, characterised by decorative panels with film motifs. 
"Public art will be integrated into the very fabric of the development, becoming a feature that will draw guests and visitors into the building from the street as well as promote, and further educate viewers on the fascinating history of the site."
In the early 1930s a building was built for iron merchants Thomas McPherson &amp; Son, who had been operating a warehouse and store at 493-95 Kent Street since 1884.
A few years later all buildings on the subject site were demolished, including part of the 1933 bulk store.
A new building was constructed for the Universal Film Manufacturing Company, to plans by architect Percy William Ritchie, by builders Stuart Bros.
The basement became the new bulk store for Thomas McPherson while the three upper floors are occupied by Universal Pictures, the lessee. 
 
 
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jrobinson-rf4aSBido9

Plans lodged for new Sydney CBD hotel above former Universal Film warehouse

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Agents within Sydney inner city/east are reporting only a slight drop in listing numbers for owner occupier type properties, with an increase in off market activity within this market segment, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm presented an 'investor playbook' of real estate performance within each service area this month. 
"However, investor activity appears to have dropped sharply, particularly in more homogenous medium and high density areas such as Haymarket, Zetland and Forest Lodge. This is largely driven by declines in rental demand pushing rents lower and therefore reducing overall returns," the valuation firm said. 
According to SQM Research residential vacancy rates for Zetland peaked in May at a record high of 6.0 per cent and have slightly reduced to 5.7 per cent throughout June. 
A similar trend can be seen at Mascot with vacancy rates peaking in June at 7.4 per cent as per SQM Research. Across the city within the inner west suburb of Pyrmont house rents fell by 11.8 per cent over the past year (Domain).
The report notes the sharp reduction in rental demand within these locations is resulting in lower rents and extended vacancy periods, this ultimately has a negative effect on sale prices given that investors are concerned about rental returns and also whether there will be any upside capital growth in the next few years.
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A recent sale of a two-bedroom apartment at <a href="https://www.realestate.com.au/sold/property-apartment-nsw-mascot-132917998" target="_blank">612/149-161 O’Riordan Street, Mascot</a> (pictured below) is a good example of this.
 
<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/2020/8/10/mascot%202.jpg" alt="">
Previously sold during April 2016 for $800,000 and has recently been sold during July by the same agency for $790,000. 
This result demonstrates how investment grade properties within certain high-density locations are performing subpar when compared to owner occupier style properties such as freestanding homes or larger modern townhouse/terraces within the surrounding area, the report noted. 
Current asking rents for two- bedroom units within the building range from $600 to$700 per week.
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"Based on what we are seeing, and information from local real estate agents, it appears that more first homebuyers are entering the market which does help increase demand for some of the investment style apartments, however there is still an oversupply of apartments advertised for sale and lease within these locations such as Zetland and Mascot," the valuation firm said. 
Going forward it seems unlikely that this trend will significantly improve in the near future particularly while the impacts of COVID-19 are at play.
There are currently opportunities to purchase investment properties at prices similar or even lower than what they were sold for over the last few years, however this is assuming that someone can tolerate the reduced rental income and ‘ride out the storm’ until the market starts to recover.
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"On a positive note this region of Sydney is always going to benefit from proximity to the CBD, good infrastructure and various services and amenities which make the inner suburbs of Sydney a popular place to live and invest in property," the valuation firm said. 
The area is already well serviced for public transport, however the future Metro West and Metro City &amp; Southwest lines will provide additional transport options for some of these inner ring suburbs.
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"As always we believe that the strongest investment properties over the long-term will be those that are well-positioned, quality-built/designed, lower density developments and freestanding/semi- detached dwellings or the older properties that have renovation upside." 
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