The "Three V's" Eastern Suburbs new apartment buyers are seeking
Sydney's inner ring suburbs are continuing to gentrify, and with that gentrification comes the want for new apartments.
Last year I remember speaking to Sal Quah, Deputy Managing Director at Melbourne-based developer ICD Property. He said Sydney is like Australia's New York.
"If you've done it [developed] in Sydney, then you've made it," Quah said, admitting that Sydney had always been on the radar for the prolific Melbourne CBD developer.
Indeed Sydney ranks fifth in Knight Frank's Global Prime Residential Forecast for 2024, with five per cent growth predicted ranking the harbour capital ahead of the likes of Miami and Monaco and on par with Madrid and Dubai.
While a number of city-changing projects underway across the city, we've sought out future projects, from the Eastern Suburbs to Parramatta, which are expected to be available to purchase in 2024.
Project: City Tattersalls Club
Location: 194-204 Pitt Street, Sydney NSW 2000
Developer: ICD Property
Melbourne-based developer ICD Property and their joint venture partners, Singapore-listed First Sponsor, will be looking to launch their redevelopment of the City Tattersall Club this year, having already started construction on the landmark project.
The redevelopment involves the construction of a new 50-level tower above the restored, heritage listed parts of the original building. The tower will home 241 apartments and a high-end hotel with around 110 rooms.
[smartcode_project:default project_id=12428 project_image_fid=152517]
Located in the heart of Pitt Street near Westfield’s entertainment, dining, and shopping precinct, as well as Hyde Park, the residences are expected to offer a prime location with uninterrupted water views, connectivity, amenities, and location.
Read more: How ICD became the go-to development partner for Australia's biggest councils
Richard Crookes Constructions has been appointed as the builder for the redevelopment project.
Project architects fjmt and BVN Architecture will work with the builder to deliver guest rooms and residences that pay homage to the site's heritage significance.
The project is expected to support more than 1,600 jobs during the construction phase and create significant long-term economic benefits once completed. Construction completion is expected in 2026.
Project: Fig & Wattle
Location: 14-26 Wattle Street, Pyrmont NSW 2009
Developer: Landream
Landream will be looking to advance their plans in Pyrmont for their $330 million, multi-building development, Fig & Wattle.
Landream is set to capitalise on the $750 million Sydney Fish Markets redevelopment at Blackwattle Bay, adjacent from the 12,381 sqm Wattle Street site they bought from the Sydney City Council in 2021.
Sydney-based architecture firm BVN won the design competition, a competition which the City of Sydney Council makes all large-scale developments go through.
Read more: First look exclusive: Landream's $330 million mixed-use Pyrmont plans revealed
The development will comprise five buildings, with four housing a total of 237 apartments, featuring a mix of one, two, and three-bedroom units.
The fifth building will be dedicated to commercial and office space.
One residential building will include a recreation centre with two multi-purpose indoor courts and a childcare centre.
BVN's design statement emphasises sustainability initiatives, including rainwater storage, rooftop landscaping, natural light, and ventilation for apartments, as well as efficient services like extensive bicycle parking and composting facilities.
Project: Green Square
Location: 960A Bourke Street, Zetland
Developer: Mirvac
Mirvac will be hoping to launch their next phase of the Green Square redevelopment in Zetland this year, pending council approvals.
The Green Square redevelopment has been a long-standing collaboration between Mirvac and Landcom since 2012.
Over the past decade, the focus has been on a 13.7-hectare block around the Green Square Train Station, leading to the construction of apartments, food and beverage establishments, a library, and a primary school.
The latest $315 million plans are for three towers, two designed by Tzannes Architects and one by Bates Smart, in collaboration with Mirvac's in-house design team.
First look: First look: Mirvac continue Green Square transformation with three-tower mixed-use development
The amalgamated 3,688 sqm block will flank the Green Square central plaza.
Tzannes designed a 19-level and a 14-level building which will have 124 and 183 apartments respectively, mostly two-bedroom apartments, and a few two and three-bedroom townhouses. They will feature 14 retail spaces at their base.
Meanwhile, the 21-level building designed by Bates Smart will have a further 77 apartments with a mix shifted towards larger owner-occupied dwellings.
Over 1,000 residents have already moved into the precinct, with another three projects, Portman on the Park, The Frederick, and Portman House, recently topping out.
Project: One Sydney Park
Location: 205-225 Euston Road, Alexandria NSW 2015
Developer: HPG Australia
2024 is likely to be the year HPG Australia relaunch their transformative One Sydney Park development in Alexandria.
The development, which faced launch challenges given it was launched right before the pandemic shut the country down, is set to repurpose a historically significant yet previously underutilised 2.1-hectare former warehousing site within Sydney Park.
One Sydney Park comprises eight low-rise buildings designed to house one, two, and three-bedroom apartments, luxurious penthouses, and terraces.
The project is designed by a string of award-winning architects including MHN Design Union and Silvester Fuller, in collaboration with renowned international interior firm Make Architecture and landscape designers from Sue Barnsley Design.
Most units offer park views and come with private courtyards, with some terraces opening directly onto Sydney Park. There's a series of rooftop terraces with community gardens.
Project: Farr Street
Location: 41-47 Farr Street, Marrickville
Developer: Rebel and Braxton
Rebel Property Group and Braxton will be launching their recently approved MARRICKVILLE project, the first residential development in the newly rezoned Timber Yards Precinct in Marrickville.
The PBD-designed project is designed with a focus on owner-occupiers, catering to the needs of the changing and vibrant MARRICKVILLE community.
More than 50 per cent of the residences will be large three-bedroom apartments, targeting young families and older couples looking for modern living options in MARRICKVILLE.
The joint venture partners has also acquired the neighbouring 37 Farr Street where they are planning a community pocket park with amenities such as a children's playground, BBQ, seating, and lush landscaping.
Project: Bronte Collection
Location: 122-128 Hewlett Street, Bronte NSW 2024
Developer: Fortis
Having secured development approval from the Waverley Council for the Bronte Collection, Fortis plans to both launch the luxury project and start construction in 2024.
The Bronte Collection comprises just nine freestanding homes on Hewlett Street near Bronte Beach.
The project is designed by MHN Design Union, in collaboration with interior architects Alexander & CO. and Lawless & Meyerson and landscaping by Wyer & Co.
Each of the nine homes will offer views of Bronte Beach and include spacious living, entertaining, and outdoor areas.
The residences will feature private dual garages with EV charging provisions, private pools, outdoor showers, and individual lifts. Some of the homes will also have state-of-the-art gyms and saunas.
Following the success of the Woollahra Collection, Fortis expects strong demand for the Bronte Collection, with an expected end value of $134 million.
Location: 20-22 Sandridge Street, Bondi Beach
Developer: Central Element
Busy developer Central Element will create something of which Bondi Beach hasn't seen before after securing a 2,000 sqm site for $51 million late last year.
The prime site, across 20-22 Sandridge Street and 21 Wilga Street, an amalgamation of six properties across three lots which had been years in the making, is set to home just a handful of ultra-premium apartments and houses on the site, with prices expected to start from $20 million.
Speaking to Central Element CEO Nathan Chivas last year, he said setting new benchmarks in property development has been in Central Element’s DNA for decades.
"It was something my father always did in his development days," Chivas says. "Since founding Central Element in 2011, we've continued to evolve every year we've operated, and now we're moving into what we're calling the 'ultra-luxury phase'."
Chivas says they only want to develop in the best locations. But with that, you need to create an A-grade product.
“If you find a location and create A-grade product that matches that location, then you know you’ll have strong demand no matter where the property cycle is at,” Chivas says.
"In this end of the market, you really need to bring a story to life, whether it's through brining in heritage or other luxury design elements. Ultimately these types of developments need to be a cut above the rest. They need to be more than an apartment in a great location. The money demanded by these projects, and the buyers of the projects, demand nothing less. That extra layer of detailed design and amenity is warranted for locations like Coogee and Bondi."
Project: Ballamac House
Location: 39 Arcadia Street, Coogee NSW 2034
Developer: Central Element
Central Element's other landmark project set for 2024 is Ballamac House, a historic 1860s landmark in Coogee which they intend to restore and redevelop.
The project involves transforming the heritage Victorian house into eight luxury apartments designed by Tonkin Zulaikha Greer.
The development will comprise two buildings, with the heritage Victorian house housing two of the eight apartments and the other six situated in a new contemporary building to the east.
The residences, spread across four stories, will each have three bedrooms. The penthouse, boasting panoramic ocean views, includes extravagant interiors, a wrap-around entertaining terrace, a second entertaining terrace on the first level, a butler's pantry, and floor-to-ceiling glazing to maximise views.
The conservation efforts include retaining external and internal walls, fireplaces, mantel pieces, and decorative ceilings, and reconstructing the wrap-around verandah. Central Element aims to fuse old and new, bringing the estate into a new era of luxury.
Future residents will have access to communal outdoor areas, lush green gardens, and a magnesium pool.
Project: The Chimes
Location: 45-53 Macleay Street, Potts Point NSW 2011
Developer: Time & Place
Potts Point has long been the most high density harbourside suburb in the east. It's another suburb which is now only likely to see boutique developments given most land large enough for a new high-rise is already occupied by an old one.
The exception to this is The Chimes building, a mid-20th-century building, designed by architect Hugo Stossel. The Macleay Street building has been in the crosshairs of Melbourne developer Time & Place for a number of years.
Time & Place has been slowly but surely buying out apartment owners since 2020, when it was reported they essentially bid $85 million for the whole building.
Last year they lodged concept plans with the City of Sydney Council for a new SJB-designed building with 45 apartments.
The existing building contains 80 studio apartments, and the redevelopment aims to offer a mix of one, two, and three-bedroom apartments, ranging in size from 50 sqm to 270 sqm for half-floor apartments.
The new development will include ground-floor retail along Macleay Street. The plans include features such as private rooftop terraces with a barbecue area and plunge pool for the two penthouses.
Residential amenities, including a lap pool and open space, will be located on the ground level behind the retail spaces.
There's likely still much more work to do at The Chimes before the project is launched, but no doubt more information will be released as to whether Time & Place have been successful in getting their project.
Read more: Exclusive first look: Time & Place lodge Potts Point apartment plans
Location: 117 Victoria Street, Potts Point
Developer: Ceerose
Renowned architect Koichi Takada is set to make his first mark in the high-end harbourside enclave, putting plans together for Ceerose on Victoria Street.
The proposed $19.58 million, 10-level building is designed to blend with the historic streetscape while providing a contemporary addition to Victoria Street.
Ceerose acquired the A-Grade site last year, which currently houses an original apartment block with 45 units that will be demolished for the new development.
The development will consist of two, three, and four-bedroom apartments, some spanning two levels.
Two-bedroom apartments start from 110 sqm, and there will be a variety of configurations, including apartments with plunge pools on their balconies.
The building will have 26 parking spaces, including four for visitors.
Location: 10 Onslow Avenue and 21C Billyard Avenue, Elizabeth Bay
Developer: Fortis
Prominent developer Fortis filed for its first project in Potts Point's neighbouring Elizabeth Bay last year and will likely launch this year, pending approvals.
The development will be located on an amalgamated 1,464 sqm block across 10 Onslow Avenue and 21C Billyard Avenue, comprising two Smart Design Studio-designed buildings that will house 22 apartments.
The $23.25 million project involves demolishing two early 1970s freestanding flat buildings to make way for the new development.
The proposed buildings include three two-bedroom apartments, 18 three-bedroom units, and a sole four-bedroom apartment spanning 279 sqm.
The private rooftop terraces for the penthouses will feature barbecue and lounge areas, as well as private pools.
The development will provide 27 parking spaces for the 22 residences, with eight spaces equipped with EV charging and the other 19 designed with the provision to add EV charging at a later date.
Read more: Fortis file Elizabeth Bay apartment development plans
Location: 4-4A Barncleuth Square, Elizabeth Bay
Developer: Toohey Miller
Developer Toohey Miller is set to continue to make its mark in Elizabeth Bay following the success of its debut apartment development, No.1 Onslow Avenue.
Having quickly sold three out of the five full-floor apartments in the luxury project with prices ranging from $8.25 million to $13 million, the Nick Couloumbis-led developer will no doubt be looking to their nearby project to launch.
There's nine apartments planned for the site at 4-4A Barncleuth Square, currently occupied by a mid-1960s building with over 20 apartments.
The design by SJB aims to complement the Art Deco architecture prevalent in the area, echoing the forms and styles of the neighbouring buildings.
The proposed building will consist of nine apartments, with the majority being three-bedroom units spanning 137 sqm internally.
The penthouse, located on the top level, will feature four bedrooms and 284 sqm of space, along with a private rooftop terrace equipped with a spa.
Sustainability features are also incorporated into the project, including a green roof to reduce building energy, cross-ventilation for all apartments, and the use of locally sourced bricks from Australian manufacturers, considered a more sustainable option compared to standard concrete facades.
Read more: First look exclusive: Toohey Miller file for Elizabeth Bay apartments
Location: 138 Maroubra Road, Maroubra
Developer: Lindsay Bennelong
Lindsay Bennelong, headed by Clarendon Homes Founder Peter Campbell, is heading to the Eastern Suburbs with plans for a mixed-use development at 138 Maroubra Road in the Eastern Suburbs of Sydney.
The developer has filed for a nine-level building on the 1,512 sqm site, which was secured in 2022. The project aims to demolish the existing office building and replace it with a structure offering a mix of retail, commercial, and residential spaces.
The proposed DJRD Architects-designed building will feature 57 apartments, ranging from one to four bedrooms.
The ground level will include two retail spaces, and the first level will host a commercial office space surrounded by a landscaped outdoor area.
The apartment sizes vary, with one-bedroom units ranging from 51 sqm to 62 sqm, two-bedroom units starting from 86 sqm and reaching 99 sqm, and three-bedroom apartments ranging from 105 sqm to 149 sqm.
Read more: First look: Lindsay Bennelong file Maroubra apartment plans
Project: Coast Little Bay
Location: 11 Jennifer Street, Little Bay
Developer: Urban Property Group
Prominent Sydney developer Urban Property Group will be launching their first Eastern Suburbs project this year, at the southern tip in Little Bay.
The project, Coast Little Bay, will comprise three four-level buildings on over a hectare of bushland at 11 Jennifer Street. They will home 75 one, two, and three-bedroom apartments. The development plan also includes shared basement parking for 117 vehicles.
[smartcode_project:default project_id=112343 project_image_fid=210130]
The project designed by Hill Thalis Architecture adopts the courtyard apartment type, which Hill Thalis founding principal Philip Thalis says is puzzlingly rare in Australian cities, despite its suitability to the climate and long architectural traditions of sociability.
Read more: Exclusive first look: Urban Property Group reveal Little Bay apartments project
Location: 184b-190 Kurraba Road, Kurraba Point
Developer: PB & Co
Melbourne-based developer PB & Co is marking their first venture in Sydney with a striking development in one of Sydney's most affluent areas.
They spent $60 million on a Kurraba Point site where they will be developing a highly sustainable and innovative luxury residential project in collaboration with Koichi Takada Architects.
The 4,200 sqm block will be home to four different residential buildings, including six luxury apartments on the street side of the block and four dual occupancy residences closer to the water.
The luxury apartments will offer various amenities, such as dedicated wine rooms, butler's pantries, multi-purpose rooms, and water-facing balconies. The dual occupancy buildings will include private rooftops with plunge pools and outdoor barbecue kitchens.
The project aims to achieve a 6-star Green Star rating with a focus on sustainability and a zero-carbon lifestyle.
Key sustainable features of the project include passive design strategies, rooftop solar farms, an underground geothermal energy system, rainwater collection for irrigation, building management systems for performance optimization, integrated shading structures, and the use of local, sustainable materials.
The development is intended to be carbon neutral not only in design but also in operations.
Location: 617-621 Pacific Highway, St Leonards
Developer: Anson Group
St Leonards has been a hive of activity for apartment developers in recent years, reflecting the transition from a predominantly commercial area to a more mixed-use and residential environment.
Anson Group recently submitted $187 million plans to build a 50-level tower, making it one of the tallest in the area.
Joel Robinson
Joel Robinson is the Editor in Chief at Apartments.com.au, where he leads the editorial team and oversees the country’s most comprehensive news coverage dedicated to the off the plan property market. With more than a decade of experience in residential real estate journalism, Joel brings deep insight into Australia’s evolving development landscape.
He holds a degree in Business Management with a major in Journalism from Leeds Beckett University in the UK, and has developed a particular expertise in off the plan apartment space. Joel’s editorial lens spans the full lifecycle of a project—from site acquisition and planning approvals through to new launches, construction completions, and final sell-out—delivering trusted, buyer-focused content that supports informed decision-making across the property journey