A landmark former orphanage site in Surrey Hills could be transformed into a new residential community under plans lodged by <a href="https://www.apartments.com.au/developers/antipodean-land-developments">Antipodean Land Developments</a> that would deliver 76 apartments and townhouses while restoring some of the suburb's most significant heritage buildings.

The burgeoninng Melbourne-based developer has submitted plans for the 9,158 sqm site at 1 Kent Road and 24 Durham Road, home to the former St Joseph's Home for Destitute Children, a historic institutional complex dating back to the late 19th century. The proposal seeks to adaptively reuse several heritage buildings while introducing two new four-storey residential buildings set within extensive landscaped grounds.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> and Kerstin Thompson Architects, the project has been conceived as a contemporary residential village embedded within a restored heritage precinct. The development team describes the design approach as "The Village in the Garden," with new buildings positioned among mature landscaping by OCULUS and significant heritage structures.

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="44ec8c1b-c0b6-44ae-859e-5811b3e6a023" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design%20%281%29.png?VersionId=p.p1_KFh4iQoV4nisdnPfQBAsWNi7m79" />

The proposal would deliver 76 dwellings comprising a mix of apartments and duplex-style residences, significantly increasing housing supply on one of the largest privately held residential landholdings in Surrey Hills. The development includes 127 car spaces, 24 bicycle spaces and more than 1,000 sqm of communal amenity, with the existing chapel building earmarked for conversion into resident facilities.

According to the planning submission, the project centres on the restoration and adaptive reuse of the site's most significant heritage assets, including the original c.1889 St Joseph's building, the chapel designed by architect Augustus Andrew Fritsch, and the historic brick perimeter walls and entry gates. The proposal also incorporates the retention of other contributory buildings including the former infirmary and school building.

Tract Consultants, in the planning report accompanying the application, said the scheme had been shaped through extensive heritage analysis and design development.

"The shared vision for the Site by the project team has culminated in a scheme which successfully breathes life back into a historic site while delivering upon the objectives of Victoria's Housing Statement in a carefully curated and contextually responsive manner."

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="7263b7d8-95ea-400f-9531-6ca7d22c3c33" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design%20%282%29.png?VersionId=4cR1tiWOsDpgxEOwZi5vVFcyvvOsYkIE" />

The proposal is being assessed under Victoria's Significant Residential Development with Affordable Housing pathway. As part of the application, three per cent of the project's residential development cost would be contributed to the Social Housing Growth Fund. The development would also provide a diverse mix of one, two and three-bedroom residences targeting a broader range of buyers than typically found in Surrey Hills' detached housing market.

Sustainability initiatives include an anticipated 66 per cent BESS score, natural cross-ventilation to 80 per cent of apartments, 28 per cent deep soil landscaping and a canopy cover outcome exceeding local planning requirements. The proposal also sets aside more than 1,083 sqm for communal indoor and outdoor resident amenity spaces.

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="33fad46f-fe26-4d0a-acfd-6b776e1c6a3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design.png?VersionId=D9F6WVSyYCtGvSUmith35LRp6R7PQkw_" />

Planning documents describe the property as one of the largest underutilised residential sites in Surrey Hills, arguing it presents a rare opportunity to introduce "missing middle" housing in an established inner-eastern suburb while preserving and revitalising a significant heritage precinct.

Antipodean Land Developments has built a reputation for design-focused residential projects across Melbourne, particularly in the medium-density sector. Previous developments include Neighbourhood in Brunswick East, delivered with Breathe Architecture, and Balfe Park Lane, designed by Kerstin Thompson Architects.

They've been very active in site acquisition as they build out their future development pipeline. They recently launched Thornubury House, 45 apartments above a mix of commercial, retail, and food and beverage tenancies, and have plans for a boutique project in Fitzroy and another <a href="https://www.apartments.com.au/news/vic/antipodean-plan-apartments-for-deepdenes-missing-middle-on-whitehorse-road">"missing middle" project</a> on Deepdene's Whitehorse Road.

Joel Robinson

First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills

Developer <a href="https://www.apartments.com.au/developers/auyin-property-development">Auyin</a> is the latest to turn to the Victorian Government's Development Facilitation Program in an effort to secure approval for its long-planned, mixed-use project in Elsternwick.

In 2018, Auyin lodged plans with Glen Eira City Council for a 14-storey building, however Council approved a reduced eight-storey scheme. A subsequent VCAT appeal in 2019 upheld the eight-storey height limit.

The project was later amended to nine storeys, but Auyin is now seeking to revive something closer to its original vision. The developer argues that the planning context has evolved significantly over the past decade, particularly within the Elsternwick Activity Centre, where higher-density development has increasingly been encouraged along Glen Huntly Road.

The proposal would transform the 1,239 sqm site at <a href="https://www.apartments.com.au/new-apartments/7-12-horne-street-elsternwick-vic-3185">7-15 Horne Street</a>, opposite Elsternwick Railway Station, into a 13-storey residential and retail development designed by CBG Architects, with 40 apartments

The site currently comprises three commercial properties.

<img alt="First look: 13-storey mixed-use tower planned for Elsternwick activity centre" data-entity-type="file" data-entity-uuid="5f465dd4-509b-4082-a669-0253b313914b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/elsternwick%20podium.png?VersionId=72frWi0SmQ5AVJ3ARRhX5ILUYObhTm7x" />

The proposed apartment mix comprises 25 two-bedroom and 15 three-bedroom residences above 200 sqm of retail space at ground level. Residents would have access to a 90 sqm wellness facility, a 351 sqm communal indoor and outdoor terrace on the third level, and extensive landscaped areas throughout the development. A publicly accessible 135 sqm plaza would be created on the north-east corner of the site, providing seating, landscaping, and a new gathering space adjoining Horne Street.

The design adopts a four-storey podium that references the finer-grain character of the surrounding streetscape, with the upper tower recessed behind generous setbacks on all boundaries.

<img alt="First look: 13-storey mixed-use tower planned for Elsternwick activity centre" data-entity-type="file" data-entity-uuid="e637e763-2abc-4c34-a0aa-5c7ad36fae18" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/elsternwick%20open.png?VersionId=J1AoOpZgTyaF.KeeFSX6lMjEScX8KKRi" />

A key element of the proposal is the reconfiguration and widening of the surrounding laneways. Vehicle access would be retained from Lois Lane, with upgraded pedestrian connections linking Ross Street and Horne Street. The development would provide 58 residential car spaces, two retail car spaces, and 52 bicycle spaces across two basement levels and ground-floor facilities.

Architecturally, the building draws inspiration from the established character of Elsternwick Village. The façade combines dark charcoal brickwork, textured concrete, bronze-toned metal detailing, and extensive planting integrated into podium and tower levels. The design also incorporates a chamfered corner treatment and publicly accessible plaza intended to strengthen pedestrian activity around the station precinct.

Elsternwick's last new development completion was&nbsp;EVA Elsternwick by Pitard late last year. <a href="https://www.apartments.com.au/developers/milieu-property">Milieu</a> is working away on its nature-led neighbourhood, <a href="https://www.apartments.com.au/new-apartments/elsternwick-gardens-by-milieu-8-gordon-street-elsternwick-vic-3185">Elsternwick Gardens</a>, on Gordon Street, with its first stage expected to complete next year.

First look: Auyin seeks mixed-use apartment project in growing Elsternwick Activity Centre

<a href="https://www.apartments.com.au/new-apartments/otium-parkdale-123-125-como-parade-east-parkdale-vic-3195">Otium Parkdale</a>, the 13-residence boutique development by&nbsp;<a href="https://www.apartments.com.au/developers/huxtable-property">Huxtable Property</a>, has entered its final stages of delivery, with completion expected within the coming month and more than half of the residences sold.

The Como Parade East project is nearing the finish line at a time when opportunities to purchase new apartments in <a href="https://www.apartments.com.au/developments/parkdale-vic-3195">Parkdale</a> remain exceptionally limited. Fewer than 10 per cent of dwellings in the bayside suburb are apartments, making developments like Otium a relatively rare addition to a market traditionally dominated by detached housing.

[smartcode_project:default project_id=134974 project_image_fid=5427]

The three-level development comprises 13 residences, including ten two-bedroom apartments and three larger three-bedroom homes, all positioned above a secure basement car park.

Designed by <a href="https://www.apartments.com.au/architects/almeida-architects">Almeida Architects</a> with a strong connection to its coastal surroundings, Otium combines red brick, exposed concrete and dark metal detailing with integrated landscaping and greenery. Expansive glazing, generous balconies and terraces have been incorporated throughout the design to maximise natural light and reinforce indoor-outdoor living.

Inside, the residences feature engineered European oak flooring, natural and reconstituted stone benchtops, Bosch kitchen appliances, ducted heating and cooling, lift access and secure entry systems. The larger three-bedroom residences on the upper level have been designed with house-like proportions, while the two-bedroom apartments prioritise functionality, flexibility and low-maintenance living.

[smartcode_project:default project_id=134974 project_image_fid=5421]

The project is now in its final stages, with <a href="https://www.apartments.com.au/builders/labco">Labco</a> completing the remaining landscaping and external finishing works following the completion of the residences' interiors.

Otium's location within the heart of Parkdale continues to underpin its appeal. Residents will be just steps from local cafés, restaurants, shops and the newly elevated Parkdale Station, while the beach is less than a kilometre away.

With the project tracking ahead of schedule, buyers can currently secure a residence with a five per cent deposit and benefit from settlement terms of up to eight months. The advanced stage of construction also provides buyers with the opportunity to walk through the near-complete residences and experience the quality and finishes firsthand ahead of completion.

[smartcode_project_cta:default project_id=134974]

Otium Parkdale enters final month before completion as rare apartment opportunity nears sellout

A new boutique apartment development is entering the market in <a href="https://www.apartments.com.au/developments/chermside-qld-4032">Chermside</a>, with Brisbane-based developer <a href="https://www.apartments.com.au/developers/ausdev">Ausdev</a> bringing 33 residences to a well-connected pocket of Brisbane's north.

<a href="https://www.apartments.com.au/new-apartments/parkdrive-apartments-chermside-25-sammells-drive-chermside-qld-4032">Parkdrive Apartments</a>, at 25 Sammells Drive, will comprise a mix of one- and two-bedroom residences positioned within walking distance of Westfield Chermside, The Prince Charles Hospital, and Bradbury Park.

Established in 1989, Ausdev has a long-standing presence across both development and construction, with Parkdrive Apartments representing its latest residential project in Brisbane's northern suburbs.

[smartcode_project:default project_id=152125 project_image_fid=363778]

The development has been designed around open-plan living and natural light, with residences featuring stone benchtops, timber cabinetry, BOSCH appliances, and private balconies that extend the living areas outdoors.

Kitchens are positioned as the centrepiece of the homes, incorporating natural material palettes and integrated appliances, while bathrooms have been designed with a focus on functionality and understated finishes.

Residents will have access to a communal barbecue and entertaining area on Level 3, providing shared outdoor space within the development. Secure parking and lift access are also incorporated into the building.

The project will deliver a limited collection of 33 apartments, with one-bedroom residences priced from $749,000.

[smartcode_project:default project_id=152125 project_image_fid=363782]

Beyond the building itself, the location places residents within easy reach of several of Chermside's key amenities. Bradbury Park is around 350 metres away, while Westfield Chermside is approximately 1.3 kilometres from the site. The Prince Charles Hospital is located within 750 metres, and the Chermside Bus Interchange is around 1.5 kilometres away, providing connections across Brisbane.

Parkdrive Apartments adds to the growing residential pipeline in Chermside, a suburb that continues to evolve as a major retail, healthcare, and transport hub for Brisbane's north.

[smartcode_project_cta:default project_id=152125]

Ausdev introduces boutique Parkdrive Apartments to Chermside's growing centre

<a href="https://www.apartments.com.au/developers/skymark-group">Skymark</a>'s boutique Cronulla development Solis has secured a 10-year Latent Defects Insurance policy through Resilience Insurance, providing buyers of the 16-residence building on Ewos Parade with structural and waterproofing protection that extends a decade beyond the building's completion.

Currently under construction and due for completion in late 2027, <a href="https://www.apartments.com.au/new-apartments/solis-cronulla-8-ewos-parade-cronulla-nsw-2230">Solis</a> is one of a small number of new developments in the Sutherland Shire to carry Resilience LDI coverage, a distinction that carries increasing weight as buyer confidence in the off-the-plan sector continues to be shaped by how developers stand behind their product.

Latent Defects Insurance, which entered the Australian market in 2022 when Resilience Insurance was approved to offer the cover, protects buyers against major structural or waterproofing defects for ten years post-completion. Unlike traditional statutory warranties, it operates as a first-resort policy, if a covered defect arises, the insurer responds directly, without the buyer needing to pursue the builder or developer through a lengthy claims process.

Resilience Insurance CEO Corey Nugent has noted that the product addresses something fundamental to the new apartment market.

"The overarching feedback from prospective buyers in the new development space is that they want more confidence and assurances around the quality of the build," Nugent says.

"Resilience Insurance Latent Defects Insurance not only gives them complete peace of mind for 10 years, but it shows the developer they are buying from is standing by their product."

[smartcode_project:default project_id=150499 project_image_fid=370898]

For Solis, the Resilience LDI policy adds a meaningful layer of accountability to an already considered project. The development comprises nine two-bedroom and seven three-bedroom residences, including one dual-level three-bedroom apartment, across a five-storey building on Ewos Parade, positioned between Shelly Beach and South Cronulla.

Garden apartments connect directly to private landscaped courtyards, while upper-level homes capture beach views to the east from level four and above.&nbsp;

All 16 residences include at least one balcony or courtyard, and select apartments on the upper floors feature bar areas and secondary flexible living spaces.

Hiba Sander, Managing Director of Skymark, says Solis offers a rare balance, nestled between the quiet beauty of secluded beaches and the lively charm of South Cronulla's esplanade.

"It's a place to choose your pace and live gracefully, seaside'," Sander says.

[smartcode_project:default project_id=150499 project_image_fid=370900]

The architecture, designed by <a href="https://www.apartments.com.au/architects/ida-design-group">IDA Design Group</a>'s Michael Trinh, draws from the natural erosion patterns of <a href="https://www.apartments.com.au/developments/cronulla-nsw-2230">Cronulla</a>'s sandstone headlands, translating the organic forms of the coastline into soft curves, pavilion-style massing, and a material palette chosen for longevity in a salt-tinged environment.&nbsp;

Textured natural stone, soft renders, and timber-look battens reference the tones of the surrounding cliffs, while the building has been oriented to maximise natural light and passive ventilation, with primary living spaces facing north and east to capture morning sun and sea breezes.

"At Solis, our aim was to create architecture that feels quietly confident, grounded in natural materials like stone and timber, and elevated by light and landscape," Trinh says.&nbsp;

"The buildings are designed to sit gently within their coastal surrounds, with expansive glazing and abundant greenery creating a seamless dialogue between inside and out."

[smartcode_project:default project_id=150499 project_image_fid=370897]

Interiors by <a href="https://www.apartments.com.au/architects/hot-black">Hot Black</a> carry the same material language through to every room. Kitchens feature integrated Gaggenau appliances, sculpted stone benchtops, and Lo &amp; Co joinery, while bathrooms feature natural stone, timber, and brushed metal finishes.&nbsp;

Hot Black Founder and Design Director Sophie Safrin describes the intent as one of considered restraint: "At Solis, every detail has been thoughtfully considered to create a timeless coastal retreat, calm, refined, and effortlessly liveable. From natural finishes to seamless indoor-outdoor flow, Solis offers a quiet elegance that's deeply connected to its surroundings.

The landscape, designed by Julian Brady of <a href="https://www.apartments.com.au/landscape-architect/sitedesignstudios">Site Design Studios</a>, treats green space as an integral part of the resident experience rather than an afterthought.&nbsp;

"Gentle curves and layered native plantings mirror the ebb and flow of the ocean," Julian Brady says, "creating a serene connection between architecture and place."&nbsp;

Coco Republic has provided bespoke furniture packages tailored to the project's coastal palette.

[smartcode_project:default project_id=150499 project_image_fid=370899]

Skymark has an established track record in the Sutherland Shire, with a portfolio spanning Cronulla, Woolooware and Burraneer that includes Isla, Sylva, Bask, Shells, Sula and Mist. Securing LDI on Solis reflects a broader shift in how the developer is positioning its buildings to buyers, at a time when Resilience Insurance expects the policy to become mandatory in New South Wales by 2028.

Sales at Solis are launching soon through Ray White Projects, with an official event scheduled for 11 June. Enquire for more information.

[smartcode_project_cta:default project_id=150499]

Skymark takes out 10-year Resilience Insurance LDI at Solis Cronulla

Sydney Cbd

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The vacancy rate in the Sydney CBD continues to blow out as COVID-19 leaves the city emptying.
The vacancy rate rose to 16.2 per cent over May, up from 13.8 per cent in April and double this time last year.
Palm Beach, Sydney's weekender playground for the millionaire's, is 16.7 per cent vacant.
Brisbane and Melbourne's CBD's are both up, void of international students.  
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Overall the national wide vacancy rate is down to 2.5 per cent, from 2.6 per cent in May.
Now there are 86,398 vacant properties across the country.
Sydney and Melbourne however bucked the trend, with their state-wide vacancies rising to four per cent and 3.1 per cent.
Melbourne’s vacancy rate had the highest percentage increase of 0.3 per cent, while Sydney has the highest vacancy rate in the country.
Adelaide and Hobart both have the lowest vacancy rate in May at 1.2 per cent.
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jrobinson-rf4aSBido9

Sydney CBD jumps to 16 per cent vacant as state-wide vacancies reach four per cent

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The CBD and inner Sydney suburbs are geographically within a relatively small area, however there are many sub-markets at play within these regions, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm took a look at what things traditionally matter to property markets and how current crisis is playing into decision making. 
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As a generalisation, the report suggests some of the big- picture elements that impact on the market include interest rates, availability and ease of finance, affordability, changes to overseas purchasing and oversupply of new units in certain areas.
Interest rate cuts and improving general market sentiment along with a limited supply of established stock in many inner city areas have been some of the main drivers of strengthening market conditions and property prices over the past few months.
"With proximity to the CBD, public transport and lifestyle amenities, the inner city is a popular choice for first home buyers," the valuation firm said. 
This market segment is urrently performing well, with lenders favouring owner-occupiers over investors, interest rates at record lows and first home buyer incentives available from the government.
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Upgraders were hit hard when lending was tightened last year, however as interest rates have dropped and APRA regulations have been relaxed, buyers have returned to properties within the $2 million to $3 million bracket, the report notes. 
A parkside residence at <a href="https://www.realestate.com.au/sold/property-house-nsw-five+dock-132908398" target="_blank">2 Heath Street, Five Dock</a> (pictured below) recently sold for $3.555 million (PriceFinder) after 26 days of its auction campaign (source: RP Data).
The property is built to a high standard with basement parking and enjoys views over the adjoining park.
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"Downsizers are also cashing in on the rising market, selling large suburban homes or inner city terraces and often entering the premium unit markets within the inner city, such as Jackson’s Landing at Pyrmont or Darling Point," the valuation firm said.
The properties typical of the downsizer market are often tightly held, causing increased competition when one is offered to market.
Investor activity is improving due to relaxing APRA regulations and decreases to interest rates.
 However, the recovery occurring within this market segment is generally more limited, even more so within modern medium and high density precincts.
The report notes some aspects are having noticeable effects on certain areas however, for example, interest rate reductions appear to be encouraging more activity and price growth particularly within the owner-occupier inner east and inner west suburbs, however this has not been as noticeable within higher density investor-focused suburbs such as Zetland and Waterloo in particular.
The number of new unit developments has slowed, largely as a response to tighter finance for developers. 
"Sales agents are also reporting limited numbers of buyers for off the plan units due to the loss of confidence in the construction of such complexes after multiple incidents of major defects across Sydney. 
"That being said, many complexes are under construction with existing pre-sales and this relatively concentrated supply pipeline of generic or investor grade stock is also causing the recovery within this market segment to be slower," the valuation firm said. 
The slow down within this market segment is driving larger developers (with more financial clout) to improve their product offerings, such as Crown Group which has placed significant emphasis on the architectural features of recently settled complexes in Green Square and the CBD.
Unfortunately some developers have been forced to cut costs and have delivered products that have underwhelmed their off-the-plan purchasers.
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"Infrastructure projects are also significant within these areas; the recent completion of the light rail from Circular Quay to Randwick, which has caused an uptick in interest throughout the CBD and Surry Hills, is translating to higher auction clearance rates and price growth," the valuation firm said. 
Furthermore this is spurring growth in the neighbouring bridesmaid suburbs of Redfern and Darlinghurst.
A two bedroom apartment has recently been sold for $875,000.
Located at <a href="https://www.realestate.com.au/sold/property-apartment-nsw-redfern-133317118" target="_blank">93/146 Pitt Street</a>, the 96sqm apartment comes with open plan lounge/dining area, undercover balcony and kitchen with breakfast bar. 
It's situated a stroll to village shops, bars and eateries as well as Redfern Station. 
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Furthermore, development around the Barangaroo precinct at the northern end of the CBD has improved the marketability of units in neighbouring Millers Point and Dawes Point.
The WestConnex Motorway project is also having some negative connotations for certain inner west suburbs such as Rozelle and Lilyfield in particular due to construction sites, interchanges, ventilation facilities and the unknown associated impacts for properties nearby.
 
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j.ballantyne1990-6AQqhLzZaK

Inner Sydney property market sees limited numbers of buyers for off the plan units: HTW residential 

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A stylish mortgagee apartment on level 44 of the iconic 'World Tower' in Sydney has been listed for sale by McGrath.
The <a href="https://www.realestate.com.au/sold/property-apartment-nsw-sydney-131090298" target="_blank">Liverpool Street two-bedroom, two-bathroom apartment</a> has unobstructed views of the city and Darling Harbour.
The cosmopolitan apartment has spacious interiors including open plan living and dining area, winter garden and balcony. 
The kitchen is fitted with stone benches, and Smeg appliances with a gas stovetop, and the contemporary bathrooms are fitted with stone vanities and an internal laundry. 
The World Towers offers secure entry and concierge as well as resort style facilities including a gym, pool, spa/ sauna and cinema. There is also level access to basement parking which can be accessed via lift. 
This property was last sold for $1,320,000, last July, and $800,000 in 2007. 
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Sydney CBD mortgagee apartment listed

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A retail investment in Sydney CBD has been listed for sale through Savills. 
The property at 265 Castlereagh Street is currently leased to an established café operator with new six year lease until 2025 with 4% annual increases.
The 74 square metre space includes a fully fitted commercial kitchen and cool room.
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It has been listed by Andy Hu and Jordan Lee from Savills Sydney CBD. 
The property is within close proximity to World Square, Downing Centre, Museum, Town Hall Station and the new Pitt Street Metro Station
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Sydney CBD café listed through Savills 

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Investors within the inner and middle ring suburbs of Sydney have generally been focused on capital growth, particularly within the recent years of 2015 to 2017 where most properties saw double-digit growth year on year, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm took a look at the rental yields across the country to dissect where to find the best returns in residential markets.
"However, since mid to late 2017, we have seen values decline in most property types and locations across Sydney with certain property types and locations hit harder than others," the valuation firm said. 
"In addition to this we are at record low interest rates and in an environment where capital growth or decent yields are difficult to find."
The report notes investment grade home unit style properties within inner Sydney can generally return gross annual yields in the order of 3% to 5%, however this is dependent on many of the usual factors that affect property such as location, property type, condition, quality, views and parking.
It also said it's important to remember that these yields are gross and therefore have not been adjusted for outgoings, in particular strata levies which can be substantial, particularly if the unit is located within a high density apartment building with common facilities such as pools, gyms and lifts.
A dual key apartment is commonly defined as having a self-contained studio accessed by a door, inside the main apartment.
There is a shared common hallway, but separate lockable doors to each home.
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A dual key unit in Central Park at <a href="https://www.realestate.com.au/sold/property-apartment-nsw-chippendale-130754314" target="_blank">1203/18 Park Lane Chippendale</a> (pictured above) sold in May for $1.2 million.
The property was a two-bedroom dual key apartment with each area comprising one-bedroom, bathroom, kitchen, laundry, lounge/dining and balcony.
The unit also enjoys extensive common facilities such as pools, gym, spa, rooftop garden and concierge.
The advertised rental was $1,330 per week combined which reflects a gross yield of 5.76%.
"Depending on the specific needs of each investor, it could be more beneficial to focus on units within smaller scale developments or entry level Torrens title properties such as terraces or free-standing dwellings.
"These options would be beneficial in terms of not having to pay high fees for common facilities and there is opportunity to add value via renovations. Smaller scale unit developments and Torrens title properties also tend to have stronger capital growth over a long term period," the valuation firm concluded. 
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Smaller scale unit developments in Sydney CBD fringe have stronger capital growth: HTW residential 

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The mezzanine floor of Moran House, an owner occupied office building in the Sydney CBD owned by the Moran family, is now available for lease
The tenancy at <a href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39QzG/Nyy8oj1MsQ8lDBqOLe5o804VtamUhEA/9ZQVMvzNGgema06ruScwh8KTG/dcOZySCVoUz6QcmdBxtFfWxAjdYwySfTz0uNjem/i2I2Q110NoIn83n0ThrNmqYH1OcLrnCcXIOa7w==&amp;rh=ff00528e887253a2c7f9676eed448bd60cdee792" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">13-15 Bridge Street</a> is being marketed for lease by Scot Robertson of Robertson and Sons and John Skufris of Ray White Commercial South Sydney.
Robertson said the recently renovated tenancy of about 166 square metres comprised reception, boardroom and an open-plan office area with exposed ceilings.
"This overlooks the Christopher Hanna hair salon situated on the ground floor via full height glazing looking through a spectacular feature mural screen sculpture by Douglas Annand to Bridge Street," Robertson said.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/10/15/Mezzanine_13-15%20Bridge%20St%20Sydney-57.jpg" alt="">
The building formerly known as Liner House is classified by the National Trust, previously won the Sir John Sulman Medal for architectural excellence.
It is situated within close walking distance to both Wynyard and Circular Quay stations. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/10/15/Mezzanine_13-15%20Bridge%20St%20Sydney-88.jpg" alt=""> The lift has recently been replaced and the mezzanine level has been refurbished. The asking rent for this property is $725 per square metre per annum gross plus GST, with the tenancy available for immediate occupation, and is ideal for up to 20 staff, Robertson said.
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Sydney CBD Moran House mezzanine floor for lease

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There were $101.77 million of sales recorded for Sydney’s CBD strata office market in the first half of 2019, according to research from Ray White.
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Samuel Hadgelias, Ray White Commercial NSW Associate Director, said overall fundamentals of the Sydney CBD office market remained strong, but the overarching demand levels for purchasing strata stock were starting to show signs of wavering. 
“Lack of quality strata office offerings saw much competition emerge for stock in 2018, but the continued limited availability on the market this year has kept prices growing, albeit with less urgency from buyers,” Mr Hadgelias said. 
“Reductions in interest rates should further stimulate this market but the continued difficulty in obtaining finance has slowed the pace of buyers acting.” 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/9/30/liz%20stree.jpg" alt="">
The overall increase in capital value has grown 14.02 per cent compared to 2018’s annual results. 
This has led to an average sales price of $13,900 per square metre - Up from just over $11,000 per square metre in 2018.
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Sydney CBD strata office sales hit $100 million in the first half of 2019

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Sydney’s newest residential tower will rise 270 metres, comprising 80-storeys much of it serviced apartments.
It is so tall it will need approval Aeronautical Impact Assessment approvals.
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As it penetrates Sydney Airport’s Obstacle Limitation Surfaces (OLS), the infringement triggers a requirement, under the Airports (Protection of Airspace Regulations 1996 (APAR), to need approval for the development from the Department of Infrastructure, Transport, Cities and Regional Development (DITCRD).
It will need to see if it can affect the safety, regularity or efficiency of aircraft operations at Sydney Airport.
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The Ingenhoven and Architectus scheme proposes a super-slim skyscraper sitting atop a podium that incorporates several levels of retail, two childcare centres and the Event Cinemas which is subject to a long-term lease. 
It will be the tallest residential building in Sydney. China’s state-owned Greenland tower on the old Sydney Water Board building will be 235m high.
Ingenhoven + Architectus beat off design competition entrants such as Bates Smart, Foster + Partners and WilkinsonEyre.
Their $567 million estimated cost came in nearly $14 million cheaper than their nearest competitor. 
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The design proposed by Ingenhoven + Architectus aimed to be a landmark for economical, ecological and socially sustainable future-orientated development.
An ‘energy façade’ was proposed with slanted horizontal elements and exposed structural columns to provide sun shading and act as potential hybrid solar collectors.
Its sustainability endeavours also include electric vehicle charging for 5% of car spaces on completion, with capacity to increase over time to reflect the car fleets of the future. 
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The George Street frontage (above) was proposed to consist of retail tenancies and a central entrance to the curvilinear through-site link to the building lobbies and Kent Street (below).
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The developers secured approval for added height from the City of Sydney in 2014, well above the site’s existing 150 metre limit, after promising community benefits including two childcare centres and a community meeting facility.
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The cinema was constructed in 1976 as the Hoyts Cinema.
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<div>Mirvac and Coombes Property Group are the joint developers.</div>
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Coombes Property Group acquired the 4,308sq m site in 2009 from Challenger Financial Services for $85 million.
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<source srcset="https://media.theurbandeveloper.com/assets/images/353e5cc5-286f-44e5-88a7-dc95ec02918d/353e5cc5-286f-44e5-88a7-dc95ec02918d-960.webp" sizes="(min-width: 721px) 960px" type="image/webp"></source><source srcset="https://media.theurbandeveloper.com/assets/images/353e5cc5-286f-44e5-88a7-dc95ec02918d/353e5cc5-286f-44e5-88a7-dc95ec02918d-960.jpeg" sizes="(min-width: 721px) 960px" type="image/jpg"></source><source srcset="https://media.theurbandeveloper.com/assets/images/353e5cc5-286f-44e5-88a7-dc95ec02918d/353e5cc5-286f-44e5-88a7-dc95ec02918d-720.webp" sizes="(min-width: 641px) 720px" type="image/webp"></source><source srcset="https://media.theurbandeveloper.com/assets/images/353e5cc5-286f-44e5-88a7-dc95ec02918d/353e5cc5-286f-44e5-88a7-dc95ec02918d-720.jpeg" sizes="(min-width: 641px) 720px" type="image/jpg"></source><source srcset="https://media.theurbandeveloper.com/assets/images/353e5cc5-286f-44e5-88a7-dc95ec02918d/353e5cc5-286f-44e5-88a7-dc95ec02918d-640.webp" sizes="(min-width: 481px) 640px" type="image/webp"></source><source srcset="https://media.theurbandeveloper.com/assets/images/353e5cc5-286f-44e5-88a7-dc95ec02918d/353e5cc5-286f-44e5-88a7-dc95ec02918d-640.jpeg" sizes="(min-width: 481px) 640px" type="image/jpg"></source><source srcset="https://media.theurbandeveloper.com/assets/images/353e5cc5-286f-44e5-88a7-dc95ec02918d/353e5cc5-286f-44e5-88a7-dc95ec02918d-480.webp" sizes="(min-width: 241px) 480px" type="image/webp"></source><source srcset="https://media.theurbandeveloper.com/assets/images/353e5cc5-286f-44e5-88a7-dc95ec02918d/353e5cc5-286f-44e5-88a7-dc95ec02918d-480.jpeg" sizes="(min-width: 241px) 480px" type="image/jpg"></source><source srcset="https://media.theurbandeveloper.com/assets/images/353e5cc5-286f-44e5-88a7-dc95ec02918d/353e5cc5-286f-44e5-88a7-dc95ec02918d-240.webp" sizes="(min-width: 121px) 240px" type="image/webp"></source><source srcset="https://media.theurbandeveloper.com/assets/images/353e5cc5-286f-44e5-88a7-dc95ec02918d/353e5cc5-286f-44e5-88a7-dc95ec02918d-240.jpeg" sizes="(min-width: 121px) 240px" type="image/jpg"></source><source srcset="https://media.theurbandeveloper.com/assets/images/353e5cc5-286f-44e5-88a7-dc95ec02918d/353e5cc5-286f-44e5-88a7-dc95ec02918d-120.webp" sizes="(min-width: 120px) 120px" type="image/webp"></source><source srcset="https://media.theurbandeveloper.com/assets/images/353e5cc5-286f-44e5-88a7-dc95ec02918d/353e5cc5-286f-44e5-88a7-dc95ec02918d-120.jpeg" sizes="(min-width: 120px) 120px" type="image/jpg"></source><img src="https://media.theurbandeveloper.com/raw/images/353e5cc5-286f-44e5-88a7-dc95ec02918d.jpg" alt="The mixed-use tower will rise 80-storeys and will include a hotel, units, two childcare centres, retail outlets and a cinema. "><div> </div>
<div>Construction is expected to take five years with construction likely to commence in 2020 subject to council approval.</div>
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Its 507 apartments include 55 studio, 144 one bedroom, 224 two bedroom and 84 three bedroom apartments.
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270 metre tall Event Cinema, George Street tower needs Aeronautical Impact approval

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The Sydney CBD premises of Rockpool Dining Bar &amp; Grill and Spice Temple has been listed for sale.
The two dining institutions have called the <a href="https://www.realcommercial.com.au/property-retail-nsw-sydney-503256906" target="_blank">66 Hunter Street space</a> home since taking up a lease in 2009.
They took a 10 + 10 year lease in 2016, paying over $2 million per annum.
It comes with a fixed annual rental increases of four percent.
Offered for sale either separately or together, the 2,000 sqm space sits on the ground floor of the historic 1936 City Mutual Life Trust Building, regarded as one of the finest Art Deco buildings in Australia.
A new underground metro station is being built across the road.
BluePrint Property North Parramatta agents Manuel Pavia and Anthony Malek have listing. There are reports $40 million is being sought.
In 2016 the property was offered by US based investor, David Doyle who was Perry's business partner with $30 million achieved when it was bought by the Spanish-based Allegra European Holdings.
Meanwhile the Good Food website report the expected sale of Rockpool Dining Group has been temporarily sidelined, with the group set to embark on international expansion.
Earlier this year RDG assessed strategic options for what is now the country's largest restaurant group.
One of those options was the sale of the group, which is currently owned by Quadrant Private Equity.
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Rockpool Dining Bar & Grill and Spice Temple Sydney space for sale

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The Sydney CBD home of the BBQ King Restaurant has been listed for sale with price expectations of around $25 million.
The six storey heritage building at 76-78 Liverpool Street at the southern end of the CBD has undergone a full scale renovation since last trading for $6.3 million in 2010.
It followed updates in 1982 and 1999 to the building that dates back to 1906.
Some time in 1911 the building became occupied by the Government Printing Office.
Their occupation of the building was brief and machinery merchants Benson Bros Ltd and steel merchants Sanderson Bros &amp; Newbould Ltd.
It was used as a warehousing facility for businesses associated with nearby Darling Harbour Goods Yard and Wharves.
Now it comprises a basement, ground floor and four upper levels with 1,500 sqm of lettable area on its 350 sqm site.
It is split in to two retail spaces and four office levels.
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The ground floor tenancy was designed and refurbished for BBQ King before they took the space three years ago.
BBQ King relocated to the Liverpool Street property in 2016, having first opened in Chinatown in 1983.
Savills Australia agents Jordan Lee and Andy Hu are marketing the property.
Jordan Lee says the southern precinct is a lively sector of the Sydney CBD with its mix or retail, office, residential, entertainment, educational and hotel uses.
“BBQ King is a famous dining destination that all locals know and love and its location at 76-78 Liverpool Street is strategically positioned to benefit from the master planned Barangaroo and Darling Harbour Live projects.
“The beautiful Heritage façade catches your eye and you can even see the chefs cooking in the kitchen” he said.
Hu said they expect interest from a range of buyers, both locally and offshore, looking for a safe haven investment.
He said the a popular tenancy such as BBQ King is "just the icing on the cake for a property such as this.”
 
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