Potts Point

Luxury developer&nbsp;Terra Ferma and joint venture partner Knox Group have teamed up on an apartment project in <a href="https://www.urban.com.au/developments/potts-point-nsw">Potts Point</a>.

They're seeking to convert a 20-studio apartment building on Oak Lane, the <a href="https://www.urban.com.au/developments/woolloomooloo-nsw">Woolloomooloo-side of Potts Point</a>, into a five-level building with just five apartments.

The team spent nearly a year amalgamating 20 owners across two rundown buildings.

The boutique nature of the offering, something which Potts Point and the nearby Elizabeth Bay isn't known for, particularly in the new and off the plan apartment space, means apartments are expected to sell for record prices.

<img alt="Potts Point" data-entity-type="file" data-entity-uuid="257fc57a-8bad-4add-bd85-2b9d8f0cc2b4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-07-17%20at%2011.20.15%20am.png?VersionId=oNONryKufnX2crTgVz_mdNk17R3I6tOi" />

The premier site has 22-metres of Sydney Harbour frontage and will offer&nbsp;unparalleled 200-degree views of the <a href="https://www.urban.com.au/developments/sydney-nsw">Sydney Harbour</a>,&nbsp;from the city skyline to <a href="https://www.urban.com.au/developments/cremorne-nsw">Cremorne Point</a>, the iconic Harbour Bridge and Opera House.

“We’re excited to have unlocked one of the finest boutique development sites in Sydney, with a 22-metre harbour-facing frontage, the most expansive frontage of any boutique site on Sydney Harbour,” Knox Group Co-Director Daniel Moroko said.

Terra Ferma Managing Director Diaa Shaker said they are&nbsp;thrilled to add the project to their portfolio of exclusive boutique residences

"With our focus on creating unparalleled living spaces and capturing the essence of Sydney Harbour, each of the five apartments is set to break the Potts Point square meter record."

To bring the project to life, the teams have chosen the renowned TZG Architects, fresh off their recent win in the 2023 Heritage Awards Judge’s Choice for their works on the iconic Bondi Pavilion.

Terra Ferma have worked on a number of boutique developments in the <a href="https://www.urban.com.au/developments/sutherland-shire-nsw">Sutherland Shire</a>, while Knox Group, who have done the same, have recently transformed the Motel Molly in Mollymook.

The team spent nearly a year amalgamating 20 owners across two rundown buildings

Joel Robinson

Terra Ferma and Knox Group team up for Potts Point apartment project

Potts Point's historic Bayswater Road, lined with Victorian terraces and once a bustling nightlife scene, is set for a facelift.

Hamptons Property Services have filed an application to redevelop four sites between 28-38 Bayswater Road, currently home to a mix of residential and commercial spaces.

Vince Squillace, of the Surry Hills architectural and interior design practice Squlliace, handled the designs of the $20 million project, which will incorporate 22 apartments above extensive food and beverage spaces, and a handful of terraces.

"The vision for the site is to develop it into a mixed-use building with commercial activation to all three streets with residential apartments above," the design report put together by Squillace read.

"The existing terraces are to be retained and modified into single level residential units while the rest of the site will be redeveloped to enhance the residential offering to the precinct of Potts Point, due to its prime location in terms of access to local shops, entertainment, services and public.

<img alt="Bayswater Potts Point" data-entity-type="file" data-entity-uuid="c4fbec88-ed24-4237-93ee-eb49d52d0ef4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-03-09%20at%201.50.28%20pm.png?VersionId=WIXtb3sYBzyD9TYPZzvbJYM_H2N.Cpca" /> 
The proposed design by Squillace. Image credit: Squillace

"The design approach is to break down the building forms into a series of vertical elements which draws inspiration from the verticality, scale, mass, and materiality of the architecture in the local area."

The apartments will focus around a central communal garden which will dissect the building. Further communal space will be located on the roof, where there will be a small pool and pool deck.

There will be a mix of one-bedroom apartments, with a study, and two

There will be plenty of heritage headaches before the project gets the green light.

28-30 Bayswater Road is a pair of mid-Victorian period terraces which are heritage listed. Thai Rock occupies the ground level. Next door, 32-34 Bayswater Road, is another two mid-Victorian terraces, which are considered to have heritage significance. Popular bar Eros currently occupies the ground level, while the upper level are commercial spaces.

<img alt="Bayswater Potts Point" data-entity-type="file" data-entity-uuid="385774e2-f4f9-475e-b94b-ce25fdd94eda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-03-09%20at%201.42.54%20pm.png?VersionId=XbQr56T0oUhudOJ_NEcwSvGdRqSii.N6" /> 
A recent image of 28-30 Bayswater Road

36-38 Bayswater Road is a four-storey building on the corner of Ward Ave and Bayswater Road. Its current use is commercial premises. All subject properties are located within the Heritage Conservation Area as specified in the LEP.

The design report said the&nbsp;alterations and additions to the Bayswater Road terraces will restore the buildings to be more consistent with their original design.

The design for the new apartments takes inspiration from the proportions and materiality of the existing brick buildings common throughout Potts Point," the report added.

"The new development has been designed in such a way to accentuate the verticality and reduce the visual bulk of the development.

<img alt="Bayswater Potts Point" data-entity-type="file" data-entity-uuid="5b20df09-c01b-4823-9eb7-f18b81e8d395" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-03-09%20at%201.42.48%20pm.png?VersionId=iQMJKfHRWTOIvaZ.wLVNcMAzbRcs5252" /> 
The original Bayswater Terraces

"A variety of different brick colours along with a series of different painted materials has enabled the development to present a much smaller scale to the urban context."

Potts Point, one of the most expensive apartment markets in Australia, has been subject to a number of new apartment development applications in recent months.

Melbourne developer Time &amp; Place recently submitted long awaited plans for their redevelopment of The Chimes apartment building on Macleay Street.

The Macleay Street block dates back to the mid-20th century when it was designed by Hugo Stossel, a modestly well-known post-War émigré architect who designed a number of similar residential apartment buildings in Sydney’s inner eastern suburbs.

They're planning a brand new building designed by SJB, with a mix of one, two and three-bedroom apartments.

<a href="https://www.urban.com.au/news/nsw/exclusive-first-look-time-place-lodge-potts-point-apartment-plans">Read more:&nbsp;Exclusive first look: Time &amp; Place lodge Potts Point apartment plans</a>

&nbsp;

<img alt="The Chimes" data-entity-type="file" data-entity-uuid="5bdee8a5-e2f6-46b3-bbab-f8c2ccfff93c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-03-10%20at%201.00.27%20pm.png?VersionId=GyhFIkj7L_d2rKYR54.LYSnN0j7Siw8g" />

Third.i and Toohey Miller submitted plans for a a new part six, part seven-level block with just 14 apartments.

There was community objection, given its location at&nbsp;30A-34 Brougham Street was to block out the view from The Butler, a Potts Point institution for a number of years.

The joint venture partners recently filed an appeal to the NSW Land and Environment Court after the City of Sydney's council&nbsp;and planning committees failed to make a determination.

<a href="https://www.urban.com.au/news/nsw/first-look-thirdi-and-toohey-miller-plot-22-million-new-apartment-project-in-potts-point">Read more:&nbsp;First look: Third.i and Toohey Miller plot $22 million new apartment project in Potts Point</a>

&nbsp;

Hamptons Property Services have filed an application to redevelop four sites between 28-38 Bayswater Road, currently home to a mix of residential and commercial spaces

First look: Potts Point's Bayswater Road terraces to be reinvigorated with new $20 million mixed-use plans

It's been two years in the making, but Melbourne developer Time &amp; Place has finally started putting together new plans for the redevelopment of the landmark Potts Point apartment building, The Chimes.

The Macleay Street block dates back to the mid-20th century when it was designed by Hugo Stossel, a modestly well-known post-War émigré architect who designed a number of similar residential apartment buildings in Sydney’s inner eastern suburbs.

The price for the block has been previously reported as $85 million, which would equate to just over $1 million per apartment. There are 80 studio apartments in the nine-level building, which is set to be demolished to make way for another nine-level building, designed by SJB, with 45 apartments.

The building saw a Sydney record $264,000 paid for a car space in 2016.

<img alt="The Chimes Potts Point" data-entity-type="file" data-entity-uuid="ef30fc4b-27cb-49fc-9e54-39a5957e4d8d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202022-11-08%20at%203.24.24%20pm.png?VersionId=1Nr47p2FjGWqTxgtXVpea6pm0UqCf0Q2" /> 
The Chimes building on Macleay Street

Time &amp; Place made their intentions clear when they started buying apartments in the block a few years ago.

“Over the last 24 months, Time &amp; Place has worked collaboratively with owners at The Chimes, Potts Point, as well as representatives from the City of Sydney to ensure fair and considered outcomes were achieved for all involved," Time &amp; Place Director Evan Papadopoulos told Urban.

“A priority for our team has been to ensure that communications with all stakeholders have been consistent, thoughtful and clear from the outset.”

They are now working through the statutory process with the City of Sydney Council.

"We will approach this next step in the same spirit of transparency and open-mindedness we have adopted over the course of this acquisition,"&nbsp;Papadopoulos added.

<img alt="The Potts Point redevelopment of The Chimes. Image credit: SJB" data-entity-type="file" data-entity-uuid="38cdeace-ef90-44d3-83fe-1596b106418b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202022-11-08%20at%203.33.06%20pm.png?VersionId=OqWeo6flhrio8yVgCFrO0Af73cQkQa96" /> 
The Potts Point redevelopment of The Chimes. Image credit: SJB

“We look forward to continuing to engage with the wider community to achieve positive outcomes for this iconic Potts Point site.”

Concept plans for the 1,289 sqm site at 45-53 Macleay Street have been drafted by SJB, which includes ground floor retail fronting Macleay Street.

There will be a mix of one, two and three-bedroom apartments, starting from 50 sqm and ranging in size to the the 270 sqm, half-floor apartments. The two penthouses have private rooftop terraces with a barbecue area and a plunge pool.

The residential amenity is located on the ground level behind the retail. That will comprise a lap pool and 270 sqm of open space.

"With limited space, many apartment buildings are vying for high levels of amenity," SJB noted in their design statement submitted to the local council.

"This proposal offers a variety of apartment types to cater for density while also providing and alternative to traditional detached housing by proposing large apartments at top levels. This will attract residents that would otherwise unlikely move to the area."

SJB said the existing building pays no respect to the streetscape and the new development will change this by introducing an active frontage along Macleay St holding the corner towards McDonald St.

<img alt="The Chimes" data-entity-type="file" data-entity-uuid="5f43d12d-78c6-489e-991e-dbb59c65418f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202022-11-08%20at%203.33.14%20pm.png?VersionId=TwbytHo2W0Y2XDW3My.BPKQZc_UYbTSb" />

There was a conscious effort to incorporate a number of sustainability principles, including solar panels on the roof and a rainwater tank for use in irrigation of the landscaping.

Town planner Urbis suggested the existing building would not meet the threshold to warrant its listing as a heritage item,&nbsp;nor is it of such architectural quality or historical importance that it should be considered a neutral or even contributory item within the context of the Heritage Conservation Area.

"The subject site, The Chimes, is not dissimilar to Seidler’s International Lodge, or Frank Hoffer’s Riviera. These buildings are pedestrian examples of the Modernist aesthetic, showcasing typical elements without flair or innovation; they are common, and they do not reflect the requisite architectural or aesthetic merit for heritage listing," Urban wrote in their report.

The Chimes is located adjacent to the 10-level Macleay Regis apartment building, regarded as one of the most impressive in Potts Point.&nbsp;

UAP, who work with developers on public art installations for new projects, were engaged to present a number of opportunity for art to blend in with the current topography of Macleay Street.

Time & Place made their intentions clear when they started buying apartments in the block a few years ago.

Exclusive first look: Time & Place lodge Potts Point apartment plans

The Graaf retail and development dynasty are set to redevelop one of Potts Point's most iconic buildings into four luxury terraces.

The Graaf family, led by Graaf Founder, Managing Director, and family patriarch Gennaro Autore, have submitted a development application for 20-26 Bayswater Road, the heritage-listed Mansions Terraces which they secured last year for $22 million. They were previously the home of the famous Candy's Apartments Nightclub, as well as the backpacker hotspot World Bar, which occupied two of the terraces.

The terraces will be fully redeveloped and extended, which will free up more commercial space on the ground level.

The terraces themselves will have four bedrooms across the new 340 sqm of internal living space. The attic level will be converted into a full floor master suite with a rooftop terrace.

Tony Leung from A+ Design Group has drawn up the plans which aim to keep the "fingers" which have become synonymous with the site.

<img alt="Mansions Potts Point" data-entity-type="file" data-entity-uuid="e61f4802-cbaa-4d19-84a8-993f492778f8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202022-10-13%20at%207.57.10%20am.png?VersionId=8czUJsgM86Q7XJWHFQ0cI2qam0Nfh_2j" />

"The proposed development involves alterations and additions to an existing building, with majority of the existing front façade on Bayswater Road and the four ‘fingers’ on Mansion Lane being retained,"&nbsp;the design verification statement submitted by Leung noted.

The lower ground and ground floor at the rear are proposed to be demolished and rebuilt with two new basement levels. The above ground works are proposed between the existing “fingers” and an additional part-floor attic level under roof space at the existing building height threshold.

"It respects the existing heritage building fabric by delicately curating rear wings design, to enable a contemporary and contextual fitting addition to the buildings while being able to provide a positive contribution to both existing and future public domain," the reported stated.

"The site presents a unique opportunity to revitalise the surrounding commercial with integrated residential neighbourhood because of its’ location,"

"It offers an extensive network in proximity to existing shops, public and private transportation, linking major arterial roads to the city, eastern suburbs and northern beaches."

The terraces are just 150 metres East of Kings Cross Train Station, and there are extensive public transport links in front of the site on Bayswater Road.

Graaf has a long history in both retail and property development. As well as handling the distribution of luxury retail brands&nbsp;Missoni and Brunello Cucinelli in Australia, they've been part of a number of commercial redevelopment projects across Sydney, including The Trust Building in the Sydney CBD, The Amalfi Way on Woolloomooloo wharf, as well as a number of store fitouts.&nbsp;

The terraces will be fully redeveloped and extended, which will free up more commercial space on the ground level

First look: Graaf Group plot iconic Mansions Terraces, Potts Point redevelopment

The burgeoning Sydney apartment developer, Third.i, is taking on its first project in the affluent harbourside suburb of Potts Point, further expanding their $2.5 billion pipeline.

Fresh off the back of a launch weekend near sell-out of its high-end Lindfield mixed-use project, Balfour Place, Third.i has submitted plans to the City of Sydney council for a boutique development at 30A-34 Brougham Street, located in front of the popular restaurant, The Butler, on Victoria Street.

Third.i, alongside their joint venture partner Toohey Miller, who are teaming up again having previously developed the&nbsp;North Sydney commercial tower Warada on Walker together, are set to create a new part six, part seven-level residential building with just 14 apartments.

<a href="https://www.urban.com.au/new-apartments/30a-34-brougham-street-potts-point"><img alt="" height="651" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-04-20_at_8.55.41_am.png" width="1129" /></a>

WMK Architecture has designed the striking building, of which they said they wanted to achieve the following outcomes:

1. Compliment a breathtaking view with a building of high calibre, persuing excellence in quality and function

2. Respond sensitively to the architectural and cultural history of Potts Point.

3. Celebrate the natural heritage of the site and its defining feature.

There will be a mix of one, two and three-bedroom apartments, with the top level apartments featuring deep terraces with extensive views.

<a href="https://www.urban.com.au/new-apartments/30a-34-brougham-street-potts-point"><img alt="" height="655" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-04-20_at_8.55.29_am.png" width="1137" /></a>

The site currently holds an aged, four-storey residential apartment building with a semi-submerged basement.

WMK note in their design verification statement that the site itself is not identified as a heritage item but it is located within the Woolloomooloo Heritage Conservation area.

&quot;The immediate context is rich in historical architecture including Victorian terrace row-houses nestled alongside more contemporary developments.

&quot;The local vernacular predominantly includes two to four-storey terrace houses with balconies oriented toward the West. Many of these building facades are adorned with decorative balustrades and brick or timber cladding.&quot;

They suggest the&nbsp;proposed design draws inspiration from both the architectural and natural heritage of the site and surrounds.

<a href="https://www.urban.com.au/new-apartments/30a-34-brougham-street-potts-point"><img alt="" height="660" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-04-20_at_8.55.20_am.png" width="1142" /></a>

&quot;The scale and repetition of vertical elements of the neighbouring Victorian terrace houses have been adopted for the proposed podium fa&ccedil;ade to create a strong, cohesive edge along Brougham Street.

&quot;The use of sandstone for the podium intends to create a visual connection to the exposed cliff face that protrudes out from below the large apartment building to the North.&quot;

Third.i,&nbsp;founded by Luke Berry, Robert Huxley and&nbsp;Ron Dadd in 2005, are also currently developing the Dairy Farmers site in Newcastle in to two towers, one of which will be the tallest in the city.

Always aware of how they can innovate and improve their offering for the buyer, Third.i recently launch CoPosit, which allows potential buyers secure a&nbsp;property with just $10,000 in savings, with the remainder of the deposit paid over weekly instalments until the apartment is ready. That&#39;s in operation at the Newcastle project, with around 10 per cent of buyers using the tool.

Urban recently caught up with Third.i co-founder Luke Berry. To read a bit more about how Third.i operate, <a href="https://www.urban.com.au/news/nsw/how-the-sydney-apartment-developer-thirdi-always-puts-the-buyer-first-five-minutes-with-luke-berry">click here</a>.

The site currently holds an aged, four-storey residential apartment building with a semi-submerged basement

First look: Third.i and Toohey Miller plot $22 million new apartment project in Potts Point

The demand for apartments at&nbsp;Iris Capital&rsquo;s $350 million Queensgate project in Potts Point has continued, with nearly half of the apartments accounted for following its launch just one month ago.

There were a further&nbsp;$20 million in sales during Sydney&rsquo;s traditionally quiet holiday period, taking the total sales tally to over $121 million.

Not often do interstate buyers head to Sydney, with the trend often the other way around, but the latest buying spree saw&nbsp;high-net-worth individuals from Brisbane and the Gold Coast secure apartments.

[smartcode_project:default project_id=5570 project_image_fid=180676]

Among the recent sales was a one-bedroom apartment without a carpark for $2.2 million, while two-bedroom apartments have sold for between $4 million and $6 million.

Queensgate&nbsp;will deliver a collection of five buildings; Sovereign, Regent, Monarch, Consort and Empress, all featuring individual designs and their own lobby. Exclusivity is maintained throughout with no more than 10 apartments in each structure, with just 48 in total.

Iris Capital&rsquo;s vision for the 18-32 Darlinghurst Road site, which will see the historic fa&ccedil;ade of The Bourbon Hotel retained, has been described as an architectural reawakening for Potts Point.

[smartcode_project:default project_id=5570 project_image_fid=180674]

&ldquo;Local buyers were among the first to take a foothold after the official launch, but now we&rsquo;re seeing buyers from all over Australia converging on Queensgate, with many from Brisbane and the Gold Coast snapping up apartments during the holiday period,&rdquo; Iris Capital CEO Sam Arnaout said.

&ldquo;Queensgate undoubtedly represents a strategic acquisition for many buyers looking to secure a position in this dynamic urban precinct.&rdquo;

Total sales to date now account for 23 of the 48 apartments available at Queensgate, which offers one, two and three-bedroom layouts.

[smartcode_project:default project_id=5570 project_image_fid=185762]

Each of the five buildings within the development has its own penthouse, some with a private rooftop swimming pool. One of the penthouses has already sold for $16 million.

Queensgate will further enhance the existing Potts Point dining and entertainment scene with its own collection of bars, restaurants, bakeries and cafes along the ground floor.

[smartcode_project_cta: project_id=5570]

Total sales at Queensgate have now surpassed $121 million, just a month since the project’s release.

alisonwarters@gmail.com

Iris Capital's Queensgate, Potts Point apartment development, approaches 50% sold

Queensgate, the redevelopment of the Bourbon and Beefsteak Hotel in&nbsp;Sydney&#39;s Potts Point, secured over $102 million sales at its opening weekend launch.

Iris Capital&rsquo;s $350 million project saw a number of its 48 apartments snapped up, with huge sales including a 220 sqm, three-bedroom penthouse, bought by a couple from Sydney&#39;s north shore for $16 million.

Three of the 18 sales secured exceeded the $10 million mark, including the sale of a further two penthouses featuring their own private pools.

&ldquo;We are delighted with the sales result to date and are immensely proud of the product that we have worked tirelessly to deliver to market,&rdquo; said Iris Capital CEO Sam Arnaout.

[smartcode_project:default project_id=5570 project_image_fid=180676]

&ldquo;Queensgate has been in planning for seven years so it&rsquo;s no surprise that the response was so overwhelming given the pent-up interest in the project.&rdquo;

Apartment prices start from $1.8 million for a one-bedroom apartment, $2.8 million for two-bedroom, $5 million for three-bedroom, and $10 million for the ultra-indulgent penthouses.

The collection of 48 apartments hit the market on Saturday, instigating a response that CBRE&rsquo;s Ben Stewart described as &ldquo;sensational&rdquo;.

&ldquo;A price point like that of Queensgate&rsquo;s would typically be met with quite a lengthy consideration process, but we had numerous buyers willing to sign on the dotted line the day it hit the market,&rdquo; Stewart said.

[smartcode_project:default project_id=5570 project_image_fid=185763]

&ldquo;Local buyers in particular have been anticipating the arrival of Queensgate for some time, so there was quite a sense of urgency among those eager to put their name against a slice of Potts Point history.&rdquo;

&ldquo;We had anticipated the competitive demand for Queensgate &ndash; as such, a $20,000 deposit was required to secure an expression of interest for an apartment.&rdquo;

&ldquo;This isn&rsquo;t your ordinary collection of luxury homes - you&rsquo;re dealing with an iconic site close to the hearts of many Sydney-siders, not to mention the remarkable architectural feat that Panov Scott and Tonkin Zulaikha Greer have produced.&quot;

[smartcode_project:default project_id=5570 project_image_fid=185762]

The project has been hailed as an architectural reawakening of the 18-32 Darlinghurst Road site which will see the historic fa&ccedil;ade of The Bourbon Hotel retained alongside a brand new collection of residences.

Five separate buildings will be delivered, to be called Sovereign, Regent, Monarch, Consort and Empress, each exuding a differentiated design with their own lobby and no more than 10 apartments in each building.

Each residence has been elevated by artistic finishes, boasting soaring ceilings, a limited collection of private wine cellars, and cavernous walk-in wardrobes, all encased in a breathtaking heritage fa&ccedil;ade.

The project was greenlit by council earlier this year after spending over three years in approvals.

[smartcode_project_cta: project_id=5570]

“Queensgate has been in planning for seven years so it’s no surprise that the response was so overwhelming given the pent-up interest in the project.”

Queensgate, Potts Point apartments net $16m penthouse buyer and over $102m in weekend launch

There&#39;s set to be a fresh wave of international returnees over 2022, as Australia once again reopens its borders fully to the world of investors and students.

Some of Sydney&#39;s top developers&nbsp;have been planning for the eventuality, acquiring development sites and timing the launch of their projects to coincide with the expected 2022-rush for apartments.

There&#39;s already been a notable move for the unit market toward the end of 2021, with houses becoming unaffordable for the vast majority of Australians. The gap between the median price for a house and the median price for an apartment is at record highs.

Urban takes a look at eight developers operating in the NSW that you should keep an eye on in the new year.

<h2>1. Mirvac</h2>

Celebrating its 50th year in operation in 2022, Mirvac has an exciting book of projects across New South Wales next year.

Only recently has Mirvac&nbsp;launched NINE by Mirvac, on the site of the former Channel Nine Studios HQ.&nbsp;

The three-hectare site will home over 440 apartments designed by CHROFI in collaboration with Mirvac Design, and interiors by leading Melbourne design studio, MIM Design.

[smartcode_project:default project_id=93788] 
Above image is an artist&#39;s impression

There will be around 6,500 sqm of open space designed by internationally renowned landscapers McGregor Coxall, with parks, gardens, a lawn for active play, sheltered barbecues and a children&rsquo;s playground.

Mirvac&#39;s next stage of their Green Square redevelopment, The Frederick, has also just been launched.

The striking 23-level building,&nbsp;with a striking curvilinear form, is a&nbsp;collaboration between Smart Design Studio and Mirvac Design. That will have 152 apartments when completed in 2023.

[smartcode_project:default project_id=109956 project_image_fid=186240] 
Above image is an artist&#39;s impression

The ASX-listed developer will also be seeking approval for a 2022 launch of Coonara, West Pennant Hills, which will see 418 dwellings built on a 26-hectare block of land focused on the natural environment.

Bordering the Cumberland State Forest, around 10 hectares of remnant bushland will be dedicated to the NSW Government as public open space.

<h2>2. Thir​d.i Group</h2>

Launched in 2006, Third.i has spent over 15 years creating award-winning projects across the residential and commercial sectors.

The Sydney-based developer&rsquo;s current development pipeline, projects either in planning or under construction, exceeds $2.5 billion in value across Australia and the UK.

Late this year, Third.i submitted a development application to the City of Newcastle for its fourth West End apartment project, the 180-residence Dairy Farmers Towers.

<img alt="" height="800" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/dairy_farm_towers.jpg" width="1200" />

The group is also aiming to start the second stage of construction on Balfour Place, a mixed-use Lindfield development in collaboration with Coles Group, in the first quarter of 2022, in what is set to be an exciting year.

The current DA approval sees the 7,091sqm site set to become a luxury residential tower built atop a brand-new Coles supermarket, Liquorland, caf&eacute; and a heritage commercial space.

<h2>3. Iris Capital</h2>

Iris Capital, led by the local hotelier and developer Sam Arnaout and originally boasting a substantial portfolio of assets in the hospitality industry, has ramped up its involvement in the&nbsp;residential sector over the last decade.

Founded in 1995, the development group has delivered a number of integrated residential and mixed-use development across the Sydney region.

Launching its $350 million Potts Point redevelopment Queensgate this month, Iris Capital is expected to see a hot year of sales across its five apartments buildings in the harbourside precinct.

[smartcode_project:default project_id=5570 project_image_fid=180676]

Just 48 high-end apartments will be on offer across a selection of one, two and three-bedroom apartments, in addition to an exclusive collection of ultra-luxury penthouses with private pools.

The stage one completion of Ea​st End, one, two and three-bedroom coastal apartments in Newcastle, has helped cement its place on this must-watch list.

Another who has made the move north, Iris recently launched Victoria &amp; Albert, their first Gold Coast apartment project, and recently secured a prime development site on the Surfers Paradise dress circle Garfield Terrace.

<h2>4. Coronation Property</h2>

Run by Sydney locals, Coronation Property has brought a fresh perspective to urban precincts across Sydney since its inception in 2012.

As a fully-integrated developer, the group controls every part of the development process, from initial design to construction and building management.

Coronation has a track record for delivering great residential developments across Western Sydney including the Paper Mill Precinct in Liverpool. They have 8 Phillip Street in Parramatta currently under construction

Its latest development, Mason &amp; Main, combines the established neighbourhood character of Merrylands with convenient proximity to Sydney&rsquo;s second CBD of Parramatta.

[smartcode_project:default project_id=13693 project_image_fid=34741]

The residence offers 346 residences in one, two and three-bedroom configurations, designed by Woods Bagot.

<h2>5.&nbsp;ALAND</h2>

Established in 2002, ALAND is an Australian-owned family business with over 20 years of experience, and a hit with locals given their long relationship sponsoring the Parramatta Eels.

A specialist builder and developer delivering state-of-the-art contemporary residential projects across the Sydney region, the group now boasts a portfolio of over 2,800 completed apartments.

Now selling in Sydney, is the group&rsquo;s Parramatta project, Paramount on Parkes, offering 294 apartments bordering the well-known horse racing spot, Rosehill.

[smartcode_project:default project_id=9198 project_image_fid=164868]

The 42-level tower will offer expansive one, two and three-bedroom residences with plenty of storage, as well as a number of amenities.

The ALAND team will also see their&nbsp;Liverpool residences at the Hoxton reach completion mid-next year, alongside the Schofield development, Schofield Gardens.

[smartcode_project:default project_id=9198 project_image_fid=164874]

<h2>6. Deicorp</h2>

With over $2.5 billion of residential, retail and commercial real estate in the pipeline, privately-owned development group Deicorp has secured its place on this list for the second year in a row.

Founded in 1999, they have delivered over 8,000 apartments and sold over 1,000 apartments across the calendar year.

Last month, <a href="https://www.urban.com.au/news/nsw/deicorp-secure-polding-centre-sydney-apartment-development-site">Deicorp secured the development rights</a> to a 61-storey mixed-use development on the site of the Polding Centre in the Sydney CBD, which will likely hit the market in 2022.

Work has also started on developer Deicorp&rsquo;s $750 million Tallawong Village project in north-west Sydney.

[smartcode_project:default project_id=106821]

The first stage will present a mix of 333 one, two and three-bedroom apartments, forming part of a masterplanned precinct steps from the Sydney Metro line.

<h2>7. Top Spring</h2>

Top Spring has acquired a reputation for its quality developments over its near-three-decade history, completing over 20 development projects in 12 cities around the globe.

The Australian arm, based in Sydney, has the strength of local expertise backed up by a powerful international market presence and knowledge.

Beginning demolition this month to make way for Munro House, a new Elizabeth Bay residence, the group is expected to start construction on the 30 luxury apartments next year.

[smartcode_project:default project_id=100691 project_image_fid=186113]

In 2022, the company also aims to cement its reputation for delivering high-end residential living with a new 18-residence Double Bay project, according to Top Spring Australia&#39;s managing director, Sydney Ma.

&ldquo;In line with our premium project at Elizabeth Bay, Munro House, this project will encapsulate all the hallmarks that Top Spring Australia is known for, including new technology, art, green spaces and contemporary design,&rdquo; Ma&nbsp;said.

<h2>8. TOGA Group</h2>

A leading Australian property group with a portfolio across Australia, New Zealand and Europe, TOGA currently has several major projects under construction.

Founded by Ervin Vidor in 1963, in coming years TOGA is on-track to launch a pipeline of more than 5,000 apartments and an expansive portfolio of vibrant retail and short-term accommodation.

Among the group&rsquo;s developments includes Surry Hills Village, the mixed-use development and precinct on the corner of Cleveland and Baptist Street.

[smartcode_project:default project_id=9302 project_image_fid=29318]

Due for completed in early 2024, Surry Hills Village will home 122 apartments and a 102-room hotel, as well as 12,000 sqm of commercial and retail spaces.

SJB Architects has designed the development in collaboration with development partners Iain Halliday and BKH,&nbsp;Aspect Studios&nbsp;director Sacha Coles and Studio Prineas architect and principal Eva-Marie Prineas.

TOGA are also 50 per cent sold at their Marrickville development, Wicks Place, which will have 272 apartments atop a number&nbsp;of retail spaces when complete in late 2023.

There&#39;s a site TOGA are working on in Penrith, as well as a 150-apartment project&nbsp;in Kensington, which they are hoping to launch in Q1 2022.

Urban takes a look at ten developers operating in the NSW that you should keep an eye on in the new year. 

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The top eight apartment developers to look out for in NSW in 2022

It&#39;s been over seven years since Iris Capital first earmarked what will likely be one of the most impressive redevelopments in the affluent harbourside suburb of Potts Point.

Iris Capital, led by the local hotelier and developer Sam Arnaout, has slowly amalgamated a larger site, including Potts Point institutions&nbsp;the Bourbon and Beefsteak pub and Les Girls nightclub, to create an ideally located 2,500 sqm from 18-32 Darlinghurst Road, at the top of Macleay Street.

Now Iris are set to launch the $350 million redevelopment, which will see 48 apartments, not including a handful of penthouses with private pools, spread&nbsp;apartments across five buildings, each with their own art-deco identity. The buildings will be known as Sovereign, Regent, Consort, Monarch and Empress.

[smartcode_project:default project_id=5570 project_image_fid=185765]

The development application&nbsp;went before the City of Sydney council in 2018, before being approved earlier this year.

&ldquo;I have long been a big believer in this pocket of Potts Point, and the Queensgate vision is one which we have been working incredibly hard at for some time now,&rdquo;&nbsp;Arnaout said.

[smartcode_project:default project_id=5570 project_image_fid=180676]

&ldquo;Breathing new life into key destinations with high quality redevelopment is one of the hallmarks of Iris Capital and we are extremely eager to see this unique revitalisation come to fruition in the coming months.&rdquo;

Ben Stewart, a director at CBRE Sydney, says Queensgate is&nbsp;one of&nbsp;the most hotly anticipated releases the Eastern suburbs for a number of years.

&ldquo;Queensgate symbolises the next phases in the Potts Point renaissance, one which pays tribute to Potts Point&rsquo;s art deco roots while moving forward with a contemporary collection of sophisticated residences,&rdquo;&nbsp;Stewart said.

[smartcode_project:default project_id=5570 project_image_fid=185762]

Just 48 high-end apartments will be on offer across a selection of one, two and three-bedroom apartments,&nbsp;in addition to an exclusive collection of ultra-luxury penthouses with private pools.

A selection of three-bedroom apartments will also house their own private wine cellar.

[smartcode_project:default project_id=5570 project_image_fid=180675]

Apartment prices start from $1.8 million for the one-bedroom units , $2.8 million for two-bedrooms, $5 million for the three-bedrooms,&nbsp;and $10 million for penthouses.

&ldquo;We&rsquo;ve already seen strong interest from both local and interstate buyers who are eager to get their hands on an incredibly rare product set in one of the city&rsquo;s most thriving dining and retail cultures,&quot; Stewart added.

&ldquo;Residents will be able to step out their front door and straight into a world class collection of caf&eacute;s, boutiques and bars, nestled in an activated laneway with fantastic new amenity and upmarket retail.&quot;

Each residence features&nbsp;artistic finishes, soaring ceilings, a limited collection of private wine cellars, and large&nbsp;walk-in wardrobes, all encased in a&nbsp;heritage fa&ccedil;ade.

As the home of Australia&rsquo;s highest concentration of art deco buildings and some of Australia&rsquo;s earliest block of flats, Potts Point&rsquo;s cityscape is one of juxtaposition, where modern high rises border historic landmarks.

Queensgate&rsquo;s design was bred from a diversity of input including architects Panov Scott and Tonkin Zulaikha Greer (TZG) who devised five distinct personalities for each of the buildings, and interiors by TZG and BKH.

[smartcode_project:default project_id=5570 project_image_fid=180674]

&ldquo;Our philosophy has always explored the crossover between art and architecture, and Queensgate epitomes that intersection of high-end design,&rdquo; said Tim Greer, Director of TZG.

&ldquo;We wanted to produce a collection of homes that were deeply reflective of the Potts Point character while offering the most high-end and modern luxuries available in residential design.&rdquo;

Iris Capital has been busy in the Gold Coast as well as Sydney, recently launching their first Surfers Paradise development, Victoria &amp; Albert.

The $800 million mixed-use development will feature more the 330 apartments across two residential towers rising 30 and 40 levels.

[smartcode_project:default project_id=107928 project_image_fid=178909]

The East tower known as The Albert will comprise 114 two, three and four-bedroom apartments over 30 levels.

The west tower, known as The Victoria, will rise over 40 levels and deliver 219 apartments of one, two and three bedrooms.

[smartcode_project_cta: project_id=5570]

“I have long been a big believer in this pocket of Potts Point, and the Queensgate vision is one which we have been working incredibly hard at for some time now,” Arnaout said

Iris Capital prepare launch of Queensgate, the hotly anticipated Potts Point apartment redevelopment

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Bomera, the heritage sandstone Italianate mansion on the Potts Point clifftop, has reportedly been sold to the steel baron, Sanjeev Gupta for around $34 million.

His purchase was foreshadowed three weeks ago in the Sunday Telegraph.

<img alt="" 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/Bomera%20ST.jpg"> 
The Sunday Telegraph identifying Sanjeev Gupta as the buyer nearly a month ago.

Gupta is soon set to vacate his Bellevue Hill rental, Barford.

It was six years ago that Bomera was bought for $12.5 million by Leanne Catelan, the daughter of the late RP Data founder Ray Catelan.

Bomera had had ambitious $25 million hopes in 2010, but had sat on the market for two years before Catelan swooped on the 160 year old mansion.

<img alt="" 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/Bomera%20Potts%20Point%20rubbished.jpg"> 
Reports of Sanjeev Gupta had been rubbished in the Wentworth Courier.

Catelan bought it from Spanish property developer Jorge Fernandez and wife Monica, who had commissioned heritage architects Graham Brooks &amp; Associates to restore the residence. 

They had bought the property in 2001, paying $6.55 million. It had been owned by the Defence Department, along with its neighbour, Tarana, since the 1940s. Tarana, which was also acquired by the Fernandez's, was converted into a luxury triplex. 

<img alt="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/3/15/Bonera.jpg">

Built by architect John Frederick Hilly for colonial merchant William McQuade in 1856, Bomera sits on a sprawling 2,150 sqm Wylde Street parcel, in landscaped grounds featuring a swimming pool.

It has five bedrooms, a grand ballroom overlooking Woolloomooloo Bay, a musician's gallery, billiards room and wine cellar.

The former stables are now a three bedroom cottage.

The official listing in March this year had been some 18 months in the making.

Local Potts Point agent Jason Boon was in talks to secure the listing and its sale (photographed above at Bomera).

LJ Hooker Double Bay agent Bill Malouf finally had the listing, in conjunction with Ballard's Clint Ballard.

<h2>NSW properties selling now:</h2>

[smartcode_project:default project_id=6284]

[smartcode_project:default project_id=29679]

[smartcode_project:default project_id=9190]

 
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