Builder-developer ALAND has drawn back the curtain on its first city-focused new apartment development.

The North Sydney development, <a href="https://www.apartments.com.au/new-apartments/the-walden-north-sydney-173-179-walker-street-north-sydney-nsw-2060">The Walden</a>, is the first time the company has ventured this close to the city, having previously completed thousands of apartments predominantly in Sydney's west, and more recently in Gosford.

<a href="https://www.apartments.com.au/developers/aland">ALAND</a> acquired the prime North Sydney site, spanning Walker and Hampden Streets just down the road from the Victoria Cross Metro station, for $240 million in June.

Now they've unveiled the new project, a mix of one-, two-, three- and four-bedroom apartments across a 30-level building designed by Rothelowman.

[smartcode_project:default project_id=134323 project_image_fid=6384]

The Walden will capitalise on the site’s front-row position on the eastern fringe of the <a href="https://www.apartments.com.au/developments/north-sydney-nsw-2060">North Sydney</a> CBD, which offers uninterrupted Sydney Harbour views stretching from the Sydney Harbour Bridge all the way to Sydney Heads.

The main tower will be flanked by a small four-level amenity building known as The Pavilion, offering exclusive resident-only amenities including a dedicated concierge service, a sauna and private wellness studio, a gymnasium and fitness studio, a resort-style rooftop pool and sundeck.

There will also be a&nbsp;residents’ lounge, private dining and a wine cellar, and co-working facilities with an on-site meeting room and boardroom.

&nbsp;

&nbsp;

[smartcode_project:default project_id=134323 project_image_fid=6382]

ALAND Founder Andrew Hrsto said the company knew they could create something "iconic" with The Walden when they saw the site.

&nbsp;

“As a company, we had been searching for a site in one of Sydney’s blue-chip locations, spanning the Eastern Suburbs, the Sydney CBD and the North Shore, and when we had the opportunity to purchase this site, we immediately recognised that it could be something iconic – being the last development with a view offering this exceptional.

“We identified the attributes and quality of the site as being perfectly aligned for ALAND – and we feel that this off-market acquisition is a perfect opportunity to showcase our craftmanship and expertise through a truly unique offering."

[smartcode_project:default project_id=134323 project_image_fid=6399]

Hrsto pointed to ALAND’s longstanding development expertise as a significant benefit in delivering a positive outcome for The Walden.

“Being a fully integrated development and construction business with a highly experienced team, we have the benefit of in-house experts across the development spectrum, from acquisitions, design, planning, and construction, to sales, marketing, property management, through to building management.

“As one of Australia’s largest private development and construction groups, we’ve been in operation for 23 years, with a Gold Star iCIRT rating and a 100 per cent delivery success rate across numerous masterplanned and mixed-use projects – and we’re very much looking forward to bringing this expertise to The Walden and contributing to the ongoing revitalisation of North Sydney."

The Walden is the latest development in Sydney to have the 10-year Latent Defects Insurance policy by Resilience Insurance, protecting buyers from any structural or waterproofing-related issues for 10 years post-completion.&nbsp;

Demolition of existing structures on The Walden site has already commenced through specialist civil contractor Moits, with the aim of completing preparatory ground works by the end of 2025, ahead of construction commencement in early 2026.

[smartcode_project_cta:default project_id=134323]

Joel Robinson

ALAND unveils The Walden, North Sydney's latest luxury apartment development

<a href="https://www.apartments.com.au/developers/toga-group">TOGA</a> has opened sales for the final building in Macquarie Rise, its latest mixed-use development in Macquarie Park.

Since launching its <a href="https://www.apartments.com.au/new-apartments/macquarie-rise-122-herring-road-macquarie-park-nsw-2113">Macquarie Rise</a> in late 2023, TOGA has secured over 125 sales in the Herring Road development, to a range of purchasers, from first home buyers to investors and downsizers. Around 65 per cent of purchasers have been owner-occupiers.

TOGA has now launched a new release of one-, two-, and three-bedroom apartments in the final building, Saunders Rise. Many of the apartments feature multi-purpose rooms and offer views of the surrounding greenery. Also part of the release is a series of&nbsp;sub penthouses housed on the upper floors.

[smartcode_project:default project_id=89243 project_image_fid=242696]

&nbsp;

“We’re delighted with the ongoing strong interest in our Macquarie Rise development, which is testament to the need for premium housing in this much-loved Sydney suburb,"&nbsp;Allan Vidor AM, Managing Director at TOGA, said.

"We’re proud to be able to offer buyers a unique product that includes luxury amenities, spacious living areas and flexible layouts, designed to suit all kinds of buyers, from young professionals to families and investors.

“We have long been advocates of Macquarie Park, and once Macquarie Rise is complete, TOGA will have built 1,000 apartments in the area, delivering much needed homes within a thriving precinct. It’s great to see the area become renowned for high-quality apartments, proximity to amenities and green spaces."

TOGA, one of Australia’s few Gold Star iCIRT rated developers, is also handling construction of Macquarie Rise. They are on track to complete the building in 2027.

[smartcode_project:default project_id=89243 project_image_fid=310789]

Macquarie Rise boasts a prime location, placing residents within immediate reach of Macquarie Centre, Macquarie University, and the newly completed Macquarie University Metro, connecting to the Sydney CBD is just over 20 minutes.

&nbsp;

Macquarie Rise residents also have access to Club Rise, an exclusive, residents only lounge designed by luxury hotel designers Stack Studio, offering an abundance of work and break-out areas, a Pilates studio, a gym, and a karaoke room. As well as these premium amenities Macquarie Rise will also feature an impressive podium top 20m lap pool.

[smartcode_project:default project_id=89243 project_image_fid=242695]

“Offering luxury, spacious apartments in a vibrant and well-connected neighbourhood, it’s no surprise that Macquarie Rise remains popular with a range of buyers," said TOGA's General Manager of Sales, Anthony Falas.&nbsp;

"With interest rates tracking downwards, we expect the final apartments to continue to receive high levels of interest.”

Located at 122 Herring Road, Macquarie Park, the development will be delivered in partnership with Baptist Union NSW and Morling College with a value of over $400 million.

&nbsp;

[smartcode_project_cta:default project_id=89243]

TOGA launches final stage apartments in Macquarie Rise

Southern Cross Station anchors the western end of <a href="https://www.apartments.com.au/developments/melbourne-vic-3000">Melbourne</a>’s CBD, connecting metropolitan and regional rail with tram and bus interchanges in one of the city’s busiest transport corridors.&nbsp;

Just metres away, <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a>&nbsp;will place residents in the heart of the city, with immediate access to Spencer Street trams, a growing mix of retail, hospitality and cultural venues, and a neighbourhood evolving into a lively residential precinct.

Developed by <a href="https://www.apartments.com.au/developers/far-east-consortium">Far East Consortium</a>, the 68-level project integrates a sculptural glass tower with the heritage-listed Eliza Tinsley Building on a 2,765 sqm Bourke St site.&nbsp;

[smartcode_project:default project_id=509 project_image_fid=335425]

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, the development replaces a previously approved scheme for 813 apartments with a refined offering of just over 600 larger-format residences, responding to a growing owner-occupier demand for spacious city living.

The location sits within a dynamic pocket undergoing significant transformation. Marvel Stadium and the Docklands waterfront are less than 10 minutes away on foot, offering both sports and leisure attractions.&nbsp;

Bourke Street Mall, Queen Victoria Market, and the State Library are all within walking distance, while Flagstaff Gardens, Melbourne’s oldest park, provides a green escape just to the north.

&nbsp;

[smartcode_project:default project_id=509 project_image_fid=335422]

Proximity to some of the city’s largest employers and education hubs, including the courts precinct, legal chambers, RMIT, and major hospitals, makes 640 Bourke Street an appealing residential address for professionals, families and students alike.

Education opportunities span all levels. Nearby, Haileybury City Campus offers private schooling just a short walk from 640 Bourke Street. Just beyond the CBD fringe, Carlton Gardens Primary School, one of Melbourne’s oldest state primary schools, and Docklands Primary School provide convenient government schooling options.

Higher education is equally accessible. RMIT University’s city campus spans multiple buildings just a few blocks away, while the University of Melbourne’s Parkville campus is easily reached via tram along Swanston or Elizabeth Streets.

Victoria University’s City Queen campus, focused on law and business, is also close by, positioning 640 Bourke Street within walking distance of three of Melbourne’s major tertiary institutions.

[smartcode_project:default project_id=509 project_image_fid=335426]

The neighbourhood’s retail tapestry continues to evolve into something distinctly local and walkable. Just steps away, Woolworths Metro on Bourke Street ensures that everyday essentials are easily within reach.&nbsp;

For larger shopping trips, Spencer Outlet Centre on Spencer Street and QV Melbourne on the opposite side of the CBD broaden the offering with supermarkets, fashion, dining and specialty stores.

The lane-to-lane vibe unfolds beautifully in nearby arcades and alleys. Hardware Lane, with its European-style red-brick paving and alfresco dining, pulses with jazzy evenings and casual lunches.

A few minutes north, Howey Place and Centre Place offer leafy, boutique-lined lanes where hidden cafés and niche retailers congregate under historic glass-covered cloisters.

Completing this tapestry is the newly opened Mecca “beauty playground” on Bourke Street. Spanning 4,000 sqm over three levels, the flagship blends immersive retail within an art-deco heritage setting.

&nbsp;

[smartcode_project:default project_id=509 project_image_fid=335427]

This finely grained network of shops, eateries, arcades and service outlets defines the everyday lifestyle at 640 Bourke Street - further enriched by over 3,000 sqm of resident amenity including a Turkish-inspired pool, gym, co-working rooms and private cinemas.&nbsp;

Apartments are priced between&nbsp;$640,000 and $3.95 million. Off the plan stamp duty concessions available until October 2026. Prospective buyers can visit the on site display gallery which has&nbsp;fully built one, two, and three-bedroom apartments.

[smartcode_project_cta:default project_id=509]

640 Bourke Street: A heritage address at the heart of Melbourne

Lower North Shore development specialists&nbsp;<a href="https://www.apartments.com.au/developers/abadeen-group">Abadeen</a>&nbsp;has topped out its new local apartment development,&nbsp;<a href="https://www.apartments.com.au/new-apartments/northcote-collective-naremburn-2-6-northcote-street-naremburn-nsw-2065">Northcote Collective</a>.&nbsp;

Located in the tightly held suburb of <a href="https://www.apartments.com.au/developments/naremburn-nsw-2065">Naremburn</a>, Northcote Collective is a collection of just 58 one-, two-, and three-bedroom apartments designed by award-winning architects Rothelowman.&nbsp;

The building is just a five to 10 minute walk from the heart of Crows Nest and the new&nbsp;St Leonards and Crows Nest Metro stations. Abadeen has also brought doorstep convenience, with a ground-floor retail offering on Northcote Street.

Northcote Collective is being delivered by&nbsp;<a href="https://www.apartments.com.au/builders/decode">Decode</a> — an iCIRT-rated construction company well regarded in the new development industry.

[smartcode_project:default project_id=114189 project_image_fid=272840]

“This is an important and exciting moment for Northcote Collective, and we’re proud to celebrate this milestone with our partners, consultants, and future residents,” said Justin Brown, Executive Chairman and Founder of Abadeen.&nbsp;

“From the outset, our vision was to create something truly special for Naremburn — homes that respect the character of the neighbourhood while elevating the standard of Lower North Shore living. With connectivity to transport, retail on the doorstep and a true village lifestyle, this milestone also comes at a perfect time when buyer confidence is returning to the market. I am incredibly proud of our team and of Decode for their dedication in helping us bring this vision to life.”

[smartcode_project:default project_id=114189 project_image_fid=272865]

The development is two-tiered, with two rooftops for residents. The taller building has an impressive rooftop pool, a rare inclusion in the new Sydney apartment market. The level, with panoramic views, also includes an entertaining terrace with barbecue facilities.

Local downsizers and young professionals are showing the strongest interest in the development, with recent improvements in the property market — supported by three rate cuts in 2025 — boosting borrowing power and buyer confidence.

Auction activity across Sydney surged by almost 30 per cent in recent weeks, with clearance rates above 70 per cent — signalling a renewed wave of buyer demand.

Northcote Collective will welcome buyers in 2026.

[smartcode_project_cta:default project_id=114189]

Abadeen tops out Northcote Collective in Naremburn

Sunshine Coast-based <a href="https://www.apartments.com.au/developers/devcon-property-group">Devcon Property Group</a> has acquired one of Maroochydore’s most prominent development sites for $12 million unlocking the potentialfor a mixed-use project in the Cotton Tree precinct.

&nbsp;

The 4,178 sqm site at 41–43 Aerodrome Road—well known locally as the former home to one of Australia’s last Sizzler restaurants—was sold via an off-market expressions of interest campaign by Colliers agents Nick Dowling and Baydn Dodds. More than 70 targeted buyer groups were approached, resulting in multiple competitive offers for the property.

Devcon Property Group Managing Director Michael Kain said the acquisition was a strategic move in line with the company’s focus on delivering high-quality projects in prime coastal locations.&nbsp;

“We’re excited about the possibilities this site, in one of the Sunshine Coast’s most iconic beachside &nbsp;communities, offers for a broad range of development outcomes,” Kain said.

“Its location, ocean view potential, and proximity to the Maroochydore CBD and beach make it an &nbsp;outstanding development prospect. Our plans are to refurbish the existing building and then review &nbsp;development options for the remainder of the site.”&nbsp;

<img alt="Aerodrome Rd site overlooking Beach (Large)" data-entity-type="file" data-entity-uuid="a29dc4ed-68c1-4bec-a4fc-283063dcde1e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Aerodrome%20Rd%20site%20overlooking%20Beach%20%28Large%29.jpg?VersionId=b0WxJWevmLoAfCP4YvGImZpR3rSCJJ9L" />

Colliers Special Projects Manager Baydn Dodds said the sale reflected the ongoing strength of the &nbsp;Sunshine Coast’s development site market, particularly for projects capable of achieving water views. &nbsp;

“Sites of this scale, in walkable beachside locations with ocean views, are tightly held and continue to attract significant interest from both local and national developers,” Baydn Dodds said. &nbsp;

“Holding a prominent position as the former home to one of Australia’s last Sizzler restaurants and more recently occupied by Rashays, the prime site is located just 150 metres from Maroochydore Beach.&nbsp;

“With stunning ocean view potential, located in one of the Sunshine Coast’s best known iconic &nbsp;beachside communities, within steps of shops, cafes and the beach it is no surprise that there was strong interest in the site. The transaction highlights the ongoing depth of demand for well-located &nbsp;mixed-use sites across the Sunshine Coast.”&nbsp;

Colliers Sunshine Coast Managing Director Nick Dowling said the transaction reinforced the &nbsp;Sunshine Coast’s status as one of Australia’s most active development markets.&nbsp;

“The combination of strong population growth, lifestyle appeal, and infrastructure investment is &nbsp;driving demand for quality development opportunities,” Nick Dowling said. &nbsp;

“The Sunshine Coast is one of only three markets nationally to record an increase in crane numbers, &nbsp;reflecting the strength of the region’s construction pipeline.&nbsp;

“Opportunities like this are rare and continue to generate strong buyer interest in the region.”&nbsp;

The Sunshine Coast development market is booming, with several high-profile developers like Cube Developments, Gardner Vaughan Group, and RCQ, planning developments in the region.

Devcon buys Sunshine Coast’s former Sizzler site for new apartment development

Taxpayers

<html><body>
The House of Representatives Standing Committee on Economics will examine rates of home ownership, demand and supply drivers in the housing market and the proportion of investment housing relative to owner-occupied housing.
The committee chairman John Alexander said the issue was worthy of <a href="https://www.aph.gov.au/Parliamentary_Business/Committees/House/Economics/Home_Ownership" target="_blank">a detailed inquiry</a>.
“Home ownership is an issue that lies at the core of the Australian dream and represents the largest investment that most taxpayers will make during their lifetime,” Mr Alexander said.
Another parliamentary housing inquiry delivered its final report earlier this month to the Australian Senate.
The committee, which is <a href="https://www.aph.gov.au/Parliamentary_Business/Committees/House/Making_a_submission" target="_blank">accepting submissions</a> until June 26, will present its report in December.
</body></html>

jchancellor-FAypfDUnLy

House of Representatives sets up its own housing affordability inquiry

<html><body>
GUEST OBSERVATION
It is budget time again and, like on many previous occasions, the voices seeking easy publicity are calling louder and louder for the abolition of negative gearing. Housing affordability is a hot topic in an environment where property prices are rising, in some places quite significantly, so the media is happily running with this agenda without questioning the basis of various claims.
But how can you have an honest debate on the issues involved if none of those commenting against negative gearing demonstrate enough knowledge on the topic they are talking about?
Dispelling myths about negative gearing is like trying to convince a 3 year old that "spinach is good for you"… It requires some maturity to comprehend the topic of the discussion before one is able to participate without any prejudice.
It may appear as a harsh and provocative assessment of those criticising negative gearing and Australia’s current tax arrangements - especially since the anti-negative gearing voices include prominent economists, managers of investment funds, various social think-tank organisation and media personalities. But if you scrutinise what they are saying it is very obvious they are just repeating overheard phrases without any understanding of the meaning of what these words really mean. Just like the aforementioned 3 year olds…
Just to illustrate, the prevailing theme is that negative gearing is a "cost to taxpayers"… Really? How about taking a class in basic accounting to understand the principles of cash flow before making any such statements publicly? Then the commentator would understand the negative gearing is all about cash flow and not about profit and therefore, that it is neutral from an overall tax perspective. (I explained the mechanics in my earlier article if you care to read - <a href="/news/negative-gearing-the-three-facts-that-will-challenge-your-assumptions">Negative gearing: The three facts that will challenge your assumptions</a>).
Then there are ideas about changing the provisions to allow negative gearing on new properties only, to increase new build. Yeah, right, great idea. Let’s keep all those people unable to buy isolated in renter ghettos, or relegate them to city fringes, and keep the suburbs pristine and free from temporary drifters. Let’s repeat those social housing experiments from 1960’s and 1970’s (this time round with private money) which legacy is still haunting parts of our capital cities half a century later.
Of course I am exaggerating the possible consequences but only to highlight that those who call for such arrangements did not think through the full consequence of what may happen. Ask yourself, where is the greatest demand for rental accommodation? Of course, in city centres and along major transport routes. This is where investors are providing the bulk of rental stock - because this is where the demand is. And of course this is, in the great majority of instances, second-hand and not brand new stock for a very obvious reason.
“But” they say, “if properties were cheaper in those convenient locations, more people could afford to buy there and would not need to rent”. Great logic. Sure, let’s implement policies that will allow converting everything in such locations to cheap owner-occupier housing – and then we will end up with a real housing affordability problem for those who prefer or are forced to rent. But sure enough, taxpayers will be very happy to spend billions of dollars to address it, no worries.
The premise that renters will buy “cheap houses” rather than continue renting would be amusing if it was not promoted so seriously by those prominent commentators. The naivety of such thinking, on such a large scale (mind you, without any evidence and/or testing the assumptions), is staggering.
One only needs to look to late 1990 to understand why such thinking has no merit whatsoever. In particular, towards the end of 1990’s, the cost of owning a property was at a historically low level and in many locations renting was costing more than paying off a property and still, not everybody was prepared to buy, even if they could afford it easily.
All those commentators are forgetting the basic logic that drives people’s decisions – if prices are cheap, they are so for a reason. That is, owning is perceived by the majority as unattractive and without a merit, and cheap prices in relation to rental expenses only reinforce this perception. People need to perceive a positive outlook for the property market to want to own the place of their residence - this outlook can only be reinforced by a history of rising prices. It’s as simple as that, yet so difficult to comprehend for many.
Then we have such pearls of wisdom like grandfathering negative gearing on existing purchases but, at the same time, allowing for the writing-off of operational loses against capital gains. Great, let’s make tax affairs so complicated that nobody will be able to figure out whether they are making money or losing it. Accountants will love it and growth of employment at the Tax Office will propel Australia’s economic growth for the next few decades.
Or how about proclaiming that before 1986 there were no property investors in Australia (because this is what housing finance statistics “show”) and that the “current property investment boom crisis” is the fault of Keating and Hawke re-introducing negative gearing and Howard and Costello halving the capital gains tax on investment properties? This position conveniently disregards the fact that the proportions of rental stock remained relatively static for many, many decades. So what is really going on?
<img src="/images/2015/05/04/Occupied_private_dwellings.png" alt="">
Those commentators simply don’t comprehend that there was a shift in the investor profile from, a situation where a single person owned entire blocks of flats, to that where now many individual investors only own one flat each. Those aforementioned policies were just a catalyst enabling this transition to happen.
And because of these policies, people now have a choice to either live where they are and invest their extra money in the long term rental accommodation business (yes, it is a business after all) or upgrade their primary residence - and the financial outcome is the same at the end. Unbelievable but true, once you do the math.
But the biggest fable of all is that negative gearing is the reason prices are “so high” today. So, by removing negative gearing, we will restore “housing affordability” - whatever that means. Pity not many can understand what is really driving property prices in Australia.
It doesn’t fit in these people’s agendas that the cost of buying and renting in Australia is close to its historically best level, and that housing is more affordable now than at many points in time in the last three decades. Even in Sydney – the apparent “epicentre of housing speculation”.
<img src="/images/2015/05/04/Long_term_purchase_affordability_Sydney.png" alt="">
Interestingly enough, NSW’s share of net rental income losses was only 5.7% in the 2012-13 financial year (or $312 million out of $5.5B claimed by investors – as per Table 15 of recently published statistics that show all income and expense items from rental property schedules, by the state/territory location of the property). This means that just two years ago, in aggregate, profits from long term rental accommodation business in NSW almost matched losses.
In other words, negative gearing was not as widespread in NSW as everybody is led to believe. No surprise here at all since purchases with gross rental yields of 6-7% were not that uncommon in Sydney in 2012. But why bother with facts that spoil a “good story” for media attention.
By the way, where were these commentators in 1997-99, 2005/6, 2009 or 2012-13 when there were ample opportunities to buy property cheaply? Why they were not heralding those opportunities then as loudly as they now voice their opposition to negative gearing? (As a side note, did you notice how regularly these opportunities come about?) There is a simple answer - because back then they were chasing media headlines with another favourite crowd pleaser - the upcoming Armageddon.
My, in many ways, aggressive and ironic commentary serves the purpose of mobilising you - the reader - to start confronting these commentators and questioning their understanding of a concept they are so outspoken about. And secondly, treating what you read and hear on the news about negative gearing with a fair dose of scepticism.
After all, in the whole scheme of things, negative gearing is inconsequential for individual property investors – sure, it helps with cash flow but it does not impact profitability and certainly, it does not make houses more expensive. So, its abolition would not change a thing – but that point of view is missing from the public debate.
Journalists are failing in their duty to present information objectively by not offering contrasting opinions and, most importantly, by not questioning individual commentators on merits of their points of view.
I have a tip for anybody who wants to know whether a particular commentator has any idea about the topic of negative gearing - check if they consider negative gearing to be a cost to taxpayers, or offering extra profit for investors, or none of the above. If they do consider it a cost or extra profit opportunity, then you know you cannot take seriously anything they say, no matter what other credentials they present.
Arek Drozda is an independent property market analyst. Follow on Twitter @arekdrozda.
 
 
 
</body></html>

Taxpayers

Editor's Picks

Have something to contribute?

The latest real estate & off the plan properties & news, delivered to your inbox.

Developments

New apartments

New townhouses

News

The latest real estate & off the plan properties & news, delivered to your inbox.

Taxpayers

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

The latest real estate & off the plan properties & news, delivered to your inbox.

Developments

New apartments

New townhouses

News

The latest real estate & off the plan properties & news, delivered to your inbox.