Category: Development

Rail is continuing to prove a development driver in NSW with a ‘missing’ inland rail section approved and an over-station development launched, all in the past week.

Among the nation’s biggest infrastrucutre projects, the inland rail project will evenutally link Melbourne and Brisbane, and drive a logistics revolution of sorts along the east coast.

As part of the 1600km development, a 37km section from Illabo to Stockinbingal, in the South West Slopes and Riverina of NSW, has been approved.

The section was a missing link between the southern part of the line to Parkes, in the Central West, and the inter-modal junction that connects to Western Australia via South Australia.

Meanwhile, on the newly opened Metro City and Southwest line, joint-venture partners Third.i Group and Phoenix Property Investors have launched their over-station development at Crows Nest.

The project above the Crows Nest Metro Station, dubbed Elevate, was designed by Woods Bagot and comprises 130 apartments, and is part of Stage One of the Hume Place Metro Station development.

Close or co-location of homes to stations, known as “metro-fication”, has been shown to increase property values by 20 to 30 per cent or rents by 15 to 20 per cent.

Third.i director Luke Berry said this was a driving factor for creating Elevate, which was one-of-a-kind in terms of the value the Metro would bring long term to its owners.

“There are plenty of projects claiming close links to the Crows Nest Metro but there was only one project getting built above it all,” he said. 

“Having Elevate built directly over the station was why this project will outperform any other local projects in the future.”

North-South rail ‘ideal city shaper’

And the Western Sydney Regional Organisation of Councils (WSROC), the peak body representing councils in Greater Western Sydney, has welcomed the release of a previously confidential report commissioned by the Minns Government charting a path for building rail projects over the next two decades.

Despite gains along the rail line there was still a lot to be done to increase the number of residential developments further afield, WSROC said.

In the government report an “ideal assumption” of $4 billion a year in capital spending for future rail projects was outlined.

The spend could have allowed the extension of the Western Sydney Airport Metro line further south from the new city of Bradfield by 2032 as well as an extension of the heavy rail line from Leppington to Bradfield South by 2033.

This would be followed by a northern extension of the airport Metro line from St Marys to Schofields by 2037, and to Tallawong by 2039.

The report also envisaged an extension of the airport line from Bradfield South to Oran Park by 2047 at a cost of $5.1 billion, backing an earlier study commissioned by the Urban Development Institute of Australia.

WSROC president Barry Calvert said they had been advocating for the extension since the 1990s as by 2036 half Sydney’s population would live west of Parramatta.

“Successful global cities deliver city-shaping transport with integrated city-planning outcomes,” Calvert said.

“The need for a rail link is becoming more pressing with unprecedented growth in the region.

“An extra one million people are expected to live in Western Sydney by 2036 and a doubling of the population to 4.1 million by 2041.”

The Hawkesbury City councillor said one of the biggest challenges for Sydney is the struggle to retrofit transport corridors, after the demand for services has already exceeded existing infrastructure.

“Western Sydney’s story is already one of road dependence. A daily exodus of more than 300,000 residents endures Greater Sydney’s longest commute, mostly by car,” Calvert said.

“Such a crucial rail link would be a key piece in connecting the planning vision for the growing region’s current and future liveability.”

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Leading property developer Third.i Group and joint venture partner Phoenix Property Investors have announced the highly anticipated launch of Stage One at Hume Place Metro Station known as ‘Elevate’. 

Situated directly above the recently opened Crows Nest Metro Station, this exceptional residential development will offer 130 1, 2- and 3-bedroom contemporary apartments designed by internationally acclaimed architecture firm Woods Bagot.

Elevate is set to redefine urban living, providing residents with unparalleled connectivity to major commercial and residential precincts throughout Sydney. Residents will enjoy seamless access to the CBD in just seven (7) minutes and Chatswood in four (4) minutes, making it one of the most connected addresses on the lower North Shore of Sydney.

Carefully crafted by Woods Bagot, for both the exterior architecture and interior design, Elevate Hume Place will cater to a variety of purchasers from first time owners and/or investors to downsizers and right sizers wanting to be close to the Crows Nest Village and all this has to offer in terms of lifestyle and amenity and importantly benefit from the long term value that the Metro stations will bring to property owners.

A recent global study of the impacts that Metro stations have on residential property ‘on’ or ‘directly next’ to metro stations show that properties can demand premiums ranging from 20% to 30% higher in value than neighbouring properties and importantly for investors a metro can help secure 15 to 20% premiums in rents compared to similar properties in the area.

“Elevate at Hume Place is set to redefine urban living in this part of Sydney. It’s not only going to offer some of the best apartments ever released, Elevate is also a one-of-a-kind development in terms of the value the Metro will bring long term to its owners.

“There are plenty of projects claiming close links to the Crow’s Nest Metro, but there is only one project getting built above it all. Having Elevate built directly over the station is why this project will outperform any other local projects in the future.” Said Luke Berry, co-founder and director of Third.i. 

Third.i has appointed JLL Residential Project Sales as the project marketer and sales partner for Elevate. With an extensive international network and expertise in residential project marketing, JLL’s ability to successfully connect developers with both local and offshore buyers aligns perfectly with Thirdi’s vision for Elevate.

“We are excited to be partnering with Thirdi and Phoenix Property Investors on this groundbreaking project. Elevate represents the future of integrated transport-oriented development, and we’re confident it will attract significant interest from both local and international buyers.” Said Luke Billiau, head of capital markets – Australia and New Zealand at JLL. 

The appointment of JLL Residential Project Sales underscores the global appeal of Elevate, with JLL’s proven track record in successfully marketing high-profile developments and strong relationships with institutional and private investors across the globe was instrumental in attracting international interest to the project.

As Sydney celebrates the metro opening, residents and visitors alike are encouraged to explore the new stations and experience the speed and efficiency of this world-class transport system.

The launch of Elevate in October will provide an exciting opportunity for those looking to be part of Sydney’s dynamic future, offering a unique blend of connectivity, innovative design, and sustainable living.

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The $180-million Balfour Place development, Third.i’s project in Sydney leafy Upper North Shore, has topped out.

The Lindfield project will eventually deliver a mixed-use precinct spanning a 7000sq m site that was formerly a Coles supermarket.

Lead by high-profile developer Third.i with joint-venture partner Phoenix Property Investors (PPI), the shoptop mixed-use project’s structural works are now done.

Work on the block at Balfour Street got under way in March of last year and is due to complete in early 2025. Conquest is the builder.

Balfour Place will comprise 59 apartments designed by Rothelowman in a mix of one, two, three and four bedrooms, on top of 4500sq m of retail and hospitality spaces, including a Coles supermarket.

The project launched to the market in April, 2022, selling out within a matter of weeks.

Third.i co-founder Luke Berry said they had “tailored Balfour Place to meet the evolving needs of the market, particularly focusing on providing larger living spaces that are ideal for residents”.

The Coles at Balfour Place will be double the size of the prior store and will include a Liqourland and heritage commercial space fronting the Pacific Highway.

More than 230 carparking spaces will span across two levels.

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Lindfield’s latest luxury-meets-village destination, the $180 million Balfour Place, has officially topped out, marking a significant milestone in its development. The highly anticipated project, developed by leading Australian developer Third.i in conjunction with joint venture partner Phoenix Property Investors (PPI), has completed its structural works. Due to complete in early 2025, industry leading building, Conquest, has been appointed to bring Balfour Place to life.

Nestled within Lindfield’s leafy heart on Balfour Street, Balfour Place will comprise 59 best-in-class apartments designed by Rothelowman, situated on top of 4,500 sqm of vibrant retail and hospitality spaces, including a brand-new Coles supermarket.

The project launched to the market in April 2022, selling out within a matter of weeks. First-home buyers and young families are among those set to call Balfour Place home, with a collection of one-, two-, and three-bedroom apartments with private courtyards.

“We are thrilled to announce the topping out of Balfour Place, a landmark moment for Third.i, PPI, and the Lindfield community,” said Luke Berry, Co-Founder of Third.i.

“Despite challenging market conditions, this project stands as a testament to our unwavering commitment to delivering homes that buyers can be proud of.

“Balfour Place is set to become a bustling community and lifestyle hub, embodying the essence of luxury and village charm that Lindfield is known for.

“We have meticulously tailored Balfour Place to meet the evolving needs of the market, particularly focusing on providing larger living spaces that are ideal for residents.

“Our goal has always been to create homes that offer both comfort and functionality, ensuring that our buyers can thrive in a vibrant and well-connected community.

“We can’t wait to see the project complete early next year.”

“Phoenix Property Investors is proud to collaborate on a project that exceeds the expectations of today’s buyers,” said Trent Winduss, Partner and Head of Australia at Phoenix Property Investors.

“This development highlights our shared vision of creating exceptional living environments that blend modern luxury with community-centric design.

“We look forward to the completion of Balfour Place and are confident it will set a new standard for quality living in Lindfield.”

The Coles at Balfour Place will be double the size of the prior store and will include a Liquorland and heritage commercial space fronting the Pacific Highway. Over 230 car parking spaces will also be available spanning across two levels, adding another layer of convenience to both residents and the local community.

Balfour Place, situated amidst Lindfield’s beautiful greenery, embodies its neighbourhood charm with a mix of warm brick, stone, and unique bronze metalwork. Residents can enjoy desirable indoor-outdoor living spaces, rooftop landscapes, and a refined sanctuary, all situated within the convenience of Sydney’s vibrant city living.

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Balfour Place, a luxury apartment project in Lindfield, NSW developed by Third.i in conjunction with joint venture partner Phoenix Property Investors (PPI), has officially topped out with the completion of all structural works.

Designed by Rothelowman, Balfour Place is situated on Balfour Street amidst Lindfield’s beautiful leafy setting, with the development offering residents the promise of luxury living combined with the charm of village life.

Built by Conquest, the project comprises a collection of 59 one-, two- and three-bedroom apartments with private courtyards on top of 4,500sqm of vibrant retail and hospitality spaces, including a brand-new Coles supermarket.

Launched to the market in April 2022, the project sold out in a matter of weeks to mostly first home buyers and young families.

“We are thrilled to announce the topping out of Balfour Place, a landmark moment for Third.i, PPI and the Lindfield community,” said Luke Berry, co-founder of Third.i.

“We have meticulously tailored Balfour Place to meet the evolving needs of the market, particularly focusing on providing larger living spaces that are ideal for residents. Our goal has always been to create homes that offer both comfort and functionality, ensuring that our buyers can thrive in a vibrant and well-connected community. We can’t wait to see the project complete early next year,” he added.

Trent Winduss, partner and head of Australia at PPI, said, “Phoenix Property Investors is proud to collaborate on a project that exceeds the expectations of

today’s buyers. This development highlights our shared vision of creating exceptional living environments that blend modern luxury with community-centric design. We look forward to the completion of Balfour Place and are confident it will set a new standard for quality living in Lindfield.”

The Coles at Balfour Place will be double the size of the previous store and will include a Liqourland and heritage commercial space fronting the Pacific Highway. Over 230 car parking spaces will also be available spanning across two levels, adding another layer of convenience to both residents and the local community.

Read More.