MORE HIGH-END CBD SALES

Ceerose expects all full-floor apartments in Eliza to have sold before completion A flurry of interest in the luxurious Eliza at 141-143 Elizabeth Street has developer Ceerose confident it will have just one full-floor apartment to sell by the end of next week. Three full-floor apartments sold before Christmas and another two have sold this […]

Leighton Properties on the home stretch – final stage of Erko approved and ready for release

Erskineville, rated one of Sydney’s most ‘in demand’ suburbs, is about to receive a boost to its housing stock. Leighton Properties and LaSalle Investment Management have just received DA approval for the final stage of their popular Erko residential estate, with a release planned in March. The much-anticipated final release will comprise 41 apartments in […]

Retail resurgence gives Double Bay’s property market a long-awaited boost

After being in the doldrums for more than a decade, Double Bay has sprung back to life, with many believing it is close to regaining its mantle as a Mecca for Sydney’s influential, talented and famous. New retailers have attracted a younger crowd, The Cosmopolitan Centre is buzzing again, a $50-Million Woolworths is about to open, […]

State acts to cool concern on assets sale

THE NSW government is expecting $70 million for two sandstone buildings in Sydney’s CBD, but it is fielding concerns from bidders about the lack of car parking and a heritage-listed clock tower that could cause renovation costs to skyrocket. Since its call for expressions of interest closed in December, the state has attracted interest from […]

Funds cash in on city unit boom

FUND managers AMP Capital and Charter Hall Group are the latest property owners hoping to cash in on Sydney’s apartment boom, with the groups set to offload two office towers to developers. They plan to sell older office buildings in separate deals worth more than $150m. If the deals go ahead, more than double that […]

Leighton breaks ground on North Sydney’s newest A-Grade commercial tower.

Construction is officially underway at 177 Pacific Highway, North Sydney’s first new commercial tower in six years, following a formal groundbreaking ceremony at the 2,418sqm site. The $413M, 40,000sqm, 30-level development is being developed by Leighton Properties and built by Leighton Contractors. It will become the Leighton Group’s new global hub, with the Group to […]

Barangaroo bound

An accounting and advisory firm is close to signing up as the anchor tenant for Lend Lease’s planned third office tower at Barangaroo, with details expected to be released at its results in late February. There are also suggestions among leasing agents that law firm Mallesons was looking to move into the third tower to […]

LEIGHTON PROPERTIES AND QUALITAS TO DELIVER THE HIGH LIFE AT BONDI JUNCTION – LAUNCH SET FOR MAY

Leighton Properties and joint venture partner Qualitas are tapping into the lifestyle potential of Bondi Junction, announcing the launch of a 20-storey apartment complex on the corner of Oxford Street and Hollywood Avenue in May. It will be called AQUA to reflect the iconic Sydney Harbour and ocean views achieved by most of the 129 […]

High rents aren’t hip: the contradictions of the ‘creative city’

Recent reports have confirmed what many already know: the cost of housing in Australian cities is among the highest in the world. The growth rate in Australian property prices over the last 15 years is the biggest sustained increase recorded anywhere. Australia also has the highest debt-to-income ratio – encouraged by generous tax incentives to […]

THE COST OF LIVING AT THE TOP IN SYDNEY

It’s not that high compared to other world cities You might think that life at the top in Sydney is expensive, particularly when a soon-to-be completed three-storey penthouse overlooking Hyde Park will be marketed for sale at $15 million. But according to the latest research from McGrath Estate Agents, the cost of the finest penthouses […]

DJs plans sky-high extension

DEPARTMENT store David Jones could spark a race to develop the airspace on a key block in the heart of Sydney by lodging plans to transform its iconic Marke Street propety. David Jones may face compeition from its next-door neighbour, City Tattersalls Club, which has teamed up with Mirvac, with the pair unveiling plans for […]

Archaeology Meets Architecture at V by Crown

The term ‘history in the making’ is no understatement at V by Crown in Parramatta as Sydney-based property developer Crown Group looks to preserve the colonial heritage of one of Sydney’s earliest historical sites. As Parramatta bourgeons into a fast-paced, modern epicenter a piece of the regions rich heritage as the state’s first penal settlement […]

Apartment sites snapped up

INTERNATIONAL developers are snapping up apartment development sites in Sydney with booming prices allowing seasoned local players to cash in or ride the market themselves. In the most prominent deal, property billionaire Bob Ell has cashed in on the Chinese investment boom by selling an office tower in Milsons Point on Sydney Harbour for about […]

All eyes on South Sydney

Development sites across South Sydney are the hottest tickets in town with Asian-based and local developers prepared to pay up to garner a site. The limited supply of large development sites in the sought-after area, and general undersupply of housing in the wider Sydney market, are two of the key drivers of demand into 2014. […]

Local buyers snap up more than $100M in property in 8 hours at Sydney’s newest waterfront town centre and residential community

First homebuyers, young families, downsizers and retirees are among the first new apartment owners at the vibrant new Woolooware Bay town centre and residential community development in the Sutherland Shire. The project, to be delivered by developers, Bluestone, on land owned by the Cronulla Sutherland Leagues Club, exchanged contracts on more than $100M of property […]

Rush to find inner-city apartment sites

Experts say Sydney is still the ‘best game in town’ for development. The rush to find sites for new apartment blocks in Sydney’s inner and middle-ring suburbs is intensifying as developers seek to cash in on strong prices and pent-up demand from buyers. Land for these developments is becoming increasingly sought after, especially if it’s […]

Crown Group Achieves $150 Million in Sales at V by Crown

The property market is red hot and so too is the performance of property developer Crown Group as V by Crown in Parramatta reaches a momentous $150 million in sales this week. The successful development located in the heart of Parramatta has steam-rolled a pathway to success selling 277 apartments in the 18 months since […]

Unit developers circle city sites

APARTMENT developers and property owners are circling fresh sites for residential projects across Sydney as the sector booms, with experts suggesting the market won’t slow down for at least a year. More projects are on the cards for the city’s suburbs with the Nine Network’s long-mooted plans to redevelop its Willoughby campus on the north […]

Sydney Uni plans massive expansion of student housing

ONE of Sydney University’s residential campuses, St Andrew’s College, could more than double in size over the next decade. The college and university are hoping to cash in on the high demand for student housing in Sydney’s inner west, with St Andrew’s usually having up to five times more applicants than spaces available. The master […]

High land values last straw for squeezed small petrol stations

Soaring land values in Sydney’s inner suburbs are contributing to the disappearance of small petrol stations, industry experts say. Stiff competition from the bigger players such as Woolworths and Coles, together with the cost of adhering to strict environmental regulations, are squeezing the profits of many smaller operators. But the value of sites is encouraging […]

Sydney cosmopolitanism drives boom in apartment living

Sydney’s increasing cultural diversity is suddenly proving a major driving force of the popularity of new apartments. Where once many Australians dreamt of a free-standing house on a quarter-acre plot, now we’re much more likely to fantasise about a great apartment somewhere central, close to transport, shops and cafes, with plenty of light and a […]

Developers eye Circular Quay for new projects

SYDNEY’S Circular Quay is emerging as one of the top destinations for new buildings this year with developers Lend Lease, Mirvac Group and AMP Capital all shifting new projects into gear. Lend Lease has begun talks to develop a key block that fronts Circular Quay that could support a $1 billion office development while Mirvac […]

Barangaroo may add to Sydney’s office oversupply

THE Sydney skyline is set to be transformed across the next three years with a host of office buildings planned, but some in the industry warn that an oversupply looms as these developments enter a tough leasing market. An analysis by one of Australia’s leading property consulting firms LPC Australia has suggested that the spike […]

Sydney CBD office space to get a $2b makover

More than $2 billion worth of office redevelopment is earmarked for Sydney’s CBD in the coming year with investors tipping the work will provide a boost to the flat leasing conditions. AMP lodged the stage 1 DA for the Circular Quay buildings on December 19 as part of its $1.8 billion revamp of its Young […]

Mirvac snaps up major site at Eastern Creek

MIRVAC Group has beaten stiff competition in the hot industrial property market to snap up a major industrial property in Sydney’s Eastern Creek precinct for about $55 million. The property, at 60 Wallgrove Road, Eastern Creek, in the city’s west, was sought by the likes of Stockland and Goodman Group, but Mirvac beat them to […]

North Sydney office tower may be suited to residential conversion

FUND manager and adviser Anton Capital has snapped up a North Sydney office tower for about $84 million, capping a year in which more than $1.5 billion of suburban Sydney towers have changed hands. The tower at 168 Walker Street was sold by Commonwealth Bank Group Super, which has a direct property portfolio worth about […]

Plans anchored by dramatic expansion of 50 Bridge Street

SYDNEY’S next wave of developments is set to launch, with AMP Capital’s plans for a $1 billion revamp of its Circular Quay office holdings going on exhibition yesterday. The plans for the new precinct, known as Quay Quarter Sydney, are anchored by a dramatic expansion of its landmark 50 Bridge Street property that will see […]

Sydney construction activity on the rise

Construction activity is heading for improved conditions boosted by the rise in residential development and, to a lesser extent, commercial projects, which are coming off a low base. But some gains may be tempered by higher forecast labour costs and the effect of volatile currency markets. The latest Rider Levett Bucknall Oceania report, for the […]

City Tatts gives Pitt Street a makeover with new hotel, flats and restaurants

The traditional retail fortress of Pitt Street is to get a make over with a new 100 room hotel, more than 200 apartments and restaurants and a new City Tattersalls Club. Following years of discussions, the 100-year old club has appointed Mirvac Group to develop the air space above the existing club, as well as […]

Developers snap up sites for apartments

DEVELOPERS continue to swoop on Sydney’s suburbs and city areas for sites to build apartment tower blocks — with Mirvac Group said to be the prime contender to develop at least 280 high-rise apartments in Pitt Street while a Chinese development group last night was close to paying an aggressive $40 million-plus for a unit […]

Buyers snap up units in China developer’s Sydney project

[SYDNEY] Greenland Holding Group Co, one of the largest Chinese investors in the United States, sold about A$275 million (S$312 million) of apartments at its first Australian project as buyers snapped up almost all of the units offered. The state-owned developer sold 241 of 250 apartments released in the first stage of Greenland Centre, the […]

Greenland quietly flags local investment

THE presence of Chinese behemoth Greenland Holding Group’s global chairman Zhang Yuliang at the launch of its first Australian project – a $600 million Sydney apartment project – said more than the speeches about the company’s intentions. Mr Zhang – who heads the state-owned Greenland, a group with global sales of $34 billion last year […]

Pacific Bondi Beach announces highly anticipated launch of The Lofts at Pacific

  Development parters Allen Linz of Rebel Property Group and Eduard Litver of Capitel, last week announced an exciting and highly anticipated launch for their Pacific Bondi Beach development, The Lofts – Pacific Bondi Beach. The final pre-construction release includes 18 luxurious loft-style apartments which will be available at a VIP launch later in November, 2013. […]

CROWN GROUP CELEBRATES THE 500TH SALE AT TOP RYDE CITY LIVING

Sydney-based property developer, Crown Group has sold its 500th apartment at award-winning project Top Ryde City Living, just months after launching the final stage. A two-bedroom apartment was snapped up by an excited buyer last week, marking the 500th apartment sold. The sale caps a year of achievements for the $500 million residential development, after […]

Barangaroo hotel will keep Sydney in global big league

The approval by the NSW Government of the unsolicited proposal for an iconic resort hotel at Barangaroo will help maintain Sydney’s role as a global city in the Asia-Pacific region. Singapore has Marina Bay, Hong Kong has the International Finance Centre, Shanghai has tall, iconic towers and Sydney needs to be at the forefront of […]

CROWN GROUP CELEBRATES THE 500TH SALE AT TOP RYDE CITY LIVING

November 13, 2013 – Sydney-based property developer, Crown Group has sold its 500th apartment at award-winning project Top Ryde City Living, just months after launching the final stage. A two-bedroom apartment was snapped up by an excited buyer last week, marking the 500th apartment sold. The sale capped a year of achievements for the $500 […]

Piety Development’s $210m Bay Pavilions project launches November 30th

Nestled between beautiful Burns Bay and the Lane Cove River, Bay Pavilions is the North Shore’s most stunning secret waterfront escape. The $210M residential development features 270 spacious 1, 2 & 3 bedroom apartments and penthouses. It represents a new kind of sanctuary within the city, where the natural splendor of the backdrop creates a […]

Boom times at the park

The redevelopment of Macquarie Park has stepped up to another level with a number of assets on the market already attracting a multiple of buyers willing to do so without existing tenants. Agents say speculative developments are likely to eclipse properties with sitting tenants, reflecting the imbalance in the area between supply and demand. The […]

Harvey Norman tunes in to homes

BILLIONAIRE retail king Gerry Harvey says Harvey Norman will make its first move into apartment development, building units atop its North Ryde store in Sydney after the local council scotched its plans to build an office tower on the site. Mr Harvey’s move into residential property comes as the company’s store rollout hits a dead […]

Race on for premium towers – Macquarie Group fields interest in Martin Place

MACQUARIE Group has fielded interest in its new global headquarters in Sydney’s Martin Place from global pension funds, including a consortium backed by State Oil Fund of Azerbaijan, that values the landmark tower at more than $350 million. The investment bank took market soundings on the historic tower, which it is transforming into a modern […]

ROYAL NORTH SHORE HOSPITAL TOPS OUT

Brookfield Multiplex has reached an important construction milestone with the ‘Topping Out’ of the Royal North Shore Hospital (RNSH)’s 30,000 square metre, eight level, Clinical Services Building,. The building is a $150 million NSW Government funded project that will deliver 177 beds and 32 cots with 84 per cent of the rooms holding single beds. […]

Developers fast-track Sydney apartment projects as demand surges

Apartment developers are racing to get their buildings to market, as buyer demand surges on the back of low interest rates. This weekend developer Stamford Property Group will release two apartment buildings in Macquarie Park, in Sydney’s north-west, for off-the-plan sales. Marketing agents CBRE are selling the buildings in a VIP launch that requires buyers to […]

Design competition launched for Pagewood

Botany Bay City Council has announced that construction will commence on a masterplanned community in Pagewood after a design competition between top-tier architecture firms. Three award-winning Sydney architecture firms will partake in the competition to shape Pagewood’s newest community development by Meriton, which will encompass a series of four- to 14-storey buildings including retail shops […]

NEW TERRACE HOUSES TO DOVETAIL INTO THE ERSKINEVILLE WAY OF LIFE

Next stage of Erko launched Leighton Properties and LaSalle Investment Management have released for sale the next stage of their $230-Million residential development in Erskineville — 16 north-facing Torrens Title terrace houses with off-street parking. Situated just minutes from Erskineville village, the three-storey Ashmore Terraces will be built on the northern boundary of the 1.6-ha […]

LAVA’s UTS Tower Skin sails off to Venice

‘Tower Skin’, LAVA’s proposed reskinning of the UTS Tower in Sydney, is one of the ‘contemporary unbuilt projects’ chosen to represent Australia at the 2014 Venice Architecture Biennale. It will be showcased in the exhibition ‘Augmented Australia 1914‐2014’ in a virtual pavilion. Venice Biennale director Rem Koolhaas observes that ‘national identity has seemingly been sacrificed […]

DEMAND FOR LUXURY APARTMENTS IS SKY HIGH

October 17, 2013 – Crown Group has announced the highly anticipated, second release of apartments at Skye by Crown in North Sydney. After more than 90 per cent of its first release sold on launch day and all three penthouses were snapped up in its first week, the second and final selection of apartments at […]

‘Superman’ Li likes the look of Leighton tower

SINGAPORE-LISTED ARA Asset Management, an affiliate of Hong Kong billionaire Li Ka-Shing’s Cheung Kong group, has emerged as the lead contender to buy a tower Leighton Properties is building in North Sydney, with its $400 million-plus offer beating interest from a field of local and international groups. The sale of the tower, North Sydney’s first […]

All-clear for Stockland projects

AUSTRALIA’S largest residential developer, Stockland, has won planning approval for housing estates in Perth and Sydney that will allow it to bring on more than 4000 new residential lots with an end value of around $1.5 billion. The group yesterday announced it would shortly begin selling lots at its 1800-home residential development in Perth’s southwestern […]

Race on to buy, convert downtown towers

OFFICE towers in the western corridor of the Sydney CBD are coming to market as developers look to buy them for conversion to apartments. Owners of some assets are also looking to capitalise on the strong residential development market, with $80 million worth of towers to be offered for sale. The most notable vendor to […]

SYDNEY KINGS SCORE TOP LIFESTYLE AT RYDE

Sydney, October 2, 2013 – Crown Group is set to welcome the Sydney Kings as new residents at the award-winning Top Ryde City Living ahead of the 2013 – 2014 basketball season. Sydney’s favourite basketball team the Sydney Kings will enter its 25th season in luxury as Sydney-based property developer Crown Group today announced a […]

Parramatta’s billion-dollar surge

PARRAMATTA is seeing a surge of investment interest with billions of dollars’ worth of new office towers and residential apartment complexes drawing major local and international investors into the area, including the likely sale of the $175 million Sydney Water Corporate Headquarters. The growth of Sydney’s western capital is being driven by a combination of […]

MASCOT BOOMING AS SYDNEY’S BUZZ SHIFTS FROM INNER WEST

The suburb of Mascot, in Sydney’s inner south-east, continues to develop in strides as a residential, retail and hotel hub with the news that prestigious apartment developer Meriton Group will build one of the area’s most ambitious projects to date. Mascot Central, a  contemporary apartment, accommodation and retail complex at 19-33 Kent Road, was designed […]

Market warms to home builders after a spell out in the cold

Residential developers have returned from the wilderness after suffering in comparison to the traditional office, retail and industrial real estate investment trusts. This has led to a round of upgrades from brokers for the main REITS in the housing sector, Mirvac, Stockland, Lend Lease and Australand. The trigger is lower interest rates, first home owners’ […]

David Jones confirms it’s moving up

AUSTRALIAN retail giant David Jones has warned the redevelopment of its flagship Sydney CBD stores will take time as it works through plans that could include apartments, office space or a hotel. During the retailer’s profit result yesterday, chief executive Paul Zahra said the company was “exploring options” to develop above the Sydney stores. “We […]

A NEW FOCUS FOR METROPOLITAN RYDE

Meriton’s planned apartment development in the heart of Ryde signals the dynamic evolution of the area, with a public square and café to complement world-class residential apartments as a landmark meeting place. The predominantly one-bedroom apartments will be set at an affordable price point within the burgeoning metropolitan centre, already a hit with young professionals, […]

Off-the-plan values coming back at 15% below purchase price

Sydney’s off-the-plan apartment market is in a property ‘bubble’ and is an inflated market that valuers are seeing through, according to Just Think Real Estate’s Edwin Almeida. Pointing to the Sydney suburbs around Parramatta, including Westmead and Granville, Almeida told Property Observer that overseas buyers are falsely inflating property values by trying to ‘save face’ […]

Bijou villa with a harbour view

SYDNEY’S wealthy eastern suburbs real estate market continues to heat up, with the estate of socialite Virginia Kahlbetzer, a member of the wealthy Kahlbetzer rural dynasty, listing her luxury villa in Sydney’s Rose Bay, with a price tag of at least $4 million. Mrs Kahlbetzer bought the villa fronting 589 New South Head Road for […]

SKM in discussions to anchor Mirvac tower

SINCLAIR Knight Merz is in talks with the Mirvac Group about becoming the anchor tenant in its newly mooted $400 million office development in North Sydney, just days before a $1 billion-plus merger of the Australia-based firm with Jacobs Engineering is expected to be announced. Should the leasing deal proceed for the project, which Mirvac […]

Meriton secures landmark site

MERITON Apartments has powered into North Sydney, buying a landmark site for a $200 million 250-unit serviced apartment complex – banking on the lack of quality accommodation in the high-density suburb. Led by billionaire Harry Triguboff, Meriton Apartments bought 80 Arthur Street from Medi-Aid Centre Foundation for about $20.5m yesterday. It plans a 34-level tower, […]

Barry O’Farrell’s door open to unsolicited projects

NSW Premier Barry O’Farrell stepped up calls to developers to lob unsolicited property plans with the Coalition, saying other states were so enamoured with the process they were thinking of adopting it. Canadian property giant Brookfield recently entered the second phase of the government’s unsolicited planning process as it looks to push ahead with plans […]