Sydney Olympic Park

Sydney Metro has continued to roll out how it envisions the development around and above the new Sydney Metro West line.

The state significant development, funded by the New South Wales Government, is Australia's largest public transport program. The NSW Government is investing $12.4 billion over next four years, including $3.2 billion in 2022-23 to support major construction.

The latest plans are for what is set to be built above the Sydney Olympic Park metro station, part of the precinct which has grown exponentially in recent years.

The proposed $585 million development will comprise of three new buildings, one commercial and retail tower and two residential towers, with retail and community space adjacent to Sydney Olympic Park metro station.

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The commercial tower will be the smallest at 16 levels, not including the four-level podium, and will rise above the station. The smaller residential tower can hit 27 levels, and the largest 45 levels. The latter will have extensive views over Parramatta River towards the Blue Mountains from the higher levels.

Podium heights in the central precinct are limited to four levels through Sydney Olympic Park Authority (SOPA) Masterplan 2030 (Metro Interim Review).

The area in which the buildings are set to be developed has been identified as a "transitional zone", after Sydney Metro worked through a design and collaboration process with SOPA and other key stakeholders. There are now four zones, the high rise zone (45 levels), medium rise zone (20 and 30 levels), and low rise (8 levels).

No news on how many apartments will be on offer, but the documentation suggested the apartments will have smaller floor-plates to "provide prime apartments and allow for better sun access to ground floor plane."

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Sydney Metro says the&nbsp;construction of Sydney Metro West represents an exciting opportunity to incorporate global best practice for placemaking and environmentally sustainable development, and to apply innovative thinking to create new city icons.

"The delivery of integrated station and precinct development enables Sydney Metro to be more than just a transport project, but also a defining city building opportunity that revitalises precincts and communities, helping to leave a lasting legacy and shaping Sydney for generations to come," the planning application documents read.

"The proposed development will create a great place-based outcome that successfully integrates transport infrastructure, open space, ground plane retail, commercial and residential land uses.

"The Sydney Olympic Park metro station will link new communities, support employment growth and diversity of housing supply.

"In addition, the proposed development will deliver community and social infrastructure with the inclusion of community facilities proposed within the Concept&nbsp;SSDA.

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"The Sydney Olympic Park metro station precinct acknowledges growth opportunities within Sydney Olympic Park and seeks to establish parameters to attract more businesses and residents in a well-connected location reducing reliance on private transport modes whilst continuing to ensure Sydney Olympic Park can operate and function as a world class event and sporting precinct."

In October works kicked off at the new Sydney Olympic Park Metro Station, one of nine underground railway stations on the future 24-kilometre Sydney Metro West line.&nbsp; 
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Premier Dominic Perrottet said the new Sydney Metro West line would provide a vital transport link to a growing Western Sydney and deliver world-class metro services to more communities.&nbsp; 
&nbsp; 
“Our Government is transforming the way that people move around Sydney, investing more than $76 billion in transport infrastructure across the state, including more than $16 billion in Western Sydney alone,” Perrottet said. 
&nbsp; 
“The centrepiece of this investment is Sydney Metro, the biggest public transport project in Australia. 
&nbsp; 
“Work is now underway to excavate 468,000 tonnes of rock and soil – the equivalent to 78 Olympic swimming pools – to make way for a state-of-the-art metro station at Sydney Olympic Park.&nbsp; 
&nbsp; 
“This new transport link will further reinforce Sydney Olympic Park’s status as a premier events, sporting, and entertainment precinct, supporting the transit of more than 10 million people who visit or stay each year.” 
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The state significant development, funded by the New South Wales, is Australia's largest public transport program



Joel Robinson

First look: Towers planned above new Sydney Olympic Park Metro Station

Marissa Li was the first person to buy an apartment in Mirvac&#39;s Sydney Olympic Park development Pavilions back in 2017.

The 27-year old first home buyer, who was also the first&nbsp;to settle on her apartment in the 35-level Scarlet, the tallest building at Pavilions, was able to secure the apartment with a five per cent deposit through Mirvac&#39;s The Right Start initiative.

Now having moved in, Marissa is paying $100 a week less in mortgage repayments than she was at her rented Wolli Creek apartment. She paid the further five per cent deposit required in instalments over the three years that Pavilions took to build.

When Marissa began looking for her first home three years ago, The Right Start gave her the opportunity to get her foot in the door with a low deposit and ahead of investors. With reassurance from a family member who had bought at Mirvac&rsquo;s Harold Park development, Marissa felt confident about buying off the plan.

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&ldquo;As someone starting out, buying at Pavilions through The Right Start made a lot of sense to me,&rdquo; Marissa said.

&ldquo;I knew it was the only way I could afford to buy and have a few years to save. If I have a set goal I can save towards that, instead of waiting and only saving a bit here and there.&rdquo;

Marissa attended the launch with her mother and aunt and being first in the line was able to secure the cheapest apartment. But she later changed her mind and decided to pay a little extra to have an apartment with a better outlook over the park-like courtyard garden.

Mirvac&rsquo;s General Manager of Residential Development in NSW Toby Long said it is always a special moment to see people like&nbsp;Marissa moving in to their apartments.

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&quot;It&nbsp;makes the efforts of our development and construction teams, to keep working through all the challenges of the past few months, all the more worthwhile,&rdquo; Long said.

&ldquo;It&rsquo;s been a long journey from the nervous excitement on the day we launched Pavilions to now, where we have a beautiful building with apartments designed and built to the quality that people expect from Mirvac. We are incredibly proud of what we have achieved and to see the beginnings of the Pavilions community.&rdquo;

<a href="https://www.urban.com.au/news/nsw/what-a-buyer-needs-to-know-about-pavlions-apartments-in-sydney-olympic-park-five-minutes-with-mirvacs-toby-long">Read more:&nbsp;What a buyer needs to know about Pavlions apartments in Sydney Olympic Park: Five minutes with Mirvac&#39;s Toby Long</a>

Marissa has had plenty of time to consider whether she made the right decision to buy and is adamant she has no regrets.

&ldquo;I am 110% pleased that I bought. I guess you always doubt yourself but I&rsquo;m much happier to be paying off a mortgage than dead money in rent.&rdquo;

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Marissa&rsquo;s happiness with her move is not confined to financial concerns but also the ability to live a more sustainable lifestyle.

&ldquo;I try my best but if the development can lead the way, that fits into my lifestyle,&rdquo; Marissa said. &ldquo;The sustainability at Pavilions is very appealing for me. The toilet and laundry use recycled water and the bins are designed so that recyclable waste is separated. I have my Brompton bike and I&rsquo;m thinking about selling my car and just using the car share that is available at Pavilions when I need it.&rdquo;

Pavilions is now completed, with apartments selling from $625,000.

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When Marissa began looking for her first home three years ago, The Right Start gave her the opportunity to get her foot in the door with a low deposit and ahead of investors

Why first home buyer Marissa Li bought an apartment in Pavilions, Mirvac's Sydney Olympic Park development

Mirvac&#39;s Sydney Olympic Park apartment development Pavilions is the reputable ASX-listed developer&#39;s&nbsp;largest ever single stage development.

The&nbsp;four buildings constructed simultaneously using four cranes at one time.

It&#39;s been strategically located in a growth area where billions of dollars are still to be invested, particularly in the transport infrastructure which will see the commute to the Sydney CBD slashed to just 20 minutes.

The apartments have favoured working professionals, well advanced in their careers, Mirvac&#39;s general manager of residential Toby Long told Urban.

Urban recently sat down with Toby to discuss Pavilions.

&nbsp;JR: Why was Sydney Olympic Park chosen as a location for a Mirvac project?

TL: Mirvac has a long history on the Olympic Peninsula. We delivered the Athletes Village for the 2000 Olympics, which we adapted to create the suburb of Newington, developed more than 900 apartments at Rhodes Waterside, and luxury waterfront homes at Cabarita. So, the location and market were familiar territory for Mirvac and ticked all the boxes for good property investment &ndash; location, amenity, public transport, and billions of dollars in infrastructure on the way.

Sydney Olympic Park lies in Sydney&rsquo;s geographic heart, between the CBDs of Parramatta and Sydney, straddling east and west. It also lies within the knowledge corridor where the smart jobs of the future are concentrated and is key to realising the economic and social ambitions for the Greater Parramatta and Olympic Peninsula.

Olympic Park is also quite unique in being a growth area - a young and vibrant suburb that has a lot to offer. Everything you need is already there &ndash; cafes, restaurants, world class leisure and fitness facilities, train station, retail close by and this incredible 430-hectare parkland, right on the doorstep.

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There are billions of dollars still to be invested at Sydney Olympic Park, especially in transport infrastructure, as well as a new high school proposed for nearby Wentworth Point. There will be an Olympic Park station on the Metro West line, with a journey time of just 20 minutes from Parramatta to the Sydney CBD. Light Rail stage 2, connecting Olympic Park to Parramatta is back on the agenda with recent NSW Budget funding to advance planning.

JR: Who did you identify as the buyer demographic when the design was in its early stages, and why this demographic?

TL: The demographic profile at Olympic Park and surrounding suburbs showed that residents are younger and better educated than the NSW average. The dominant age group is 25-34 and 45 per cent of residents have a bachelor degree or higher, twice the NSW average. The population is truly multicultural with around 70 per cent of residents first or second-generation Australians whose parents were born overseas.

Our assumption was that buyers at Pavilions Residences would follow a similar trend and that has been borne out, with a high level of professionals well-advanced on their career journey.

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The buyer profile has differed in one significant respect with a far higher proportion of owner-occupiers than investors. Mirvac tends to attract more owner-occupiers because of our focus on quality and longevity. We do have a good following of investors who know that the price premium for a quality property is recouped in lower maintenance and repair costs, and strong capital gain.

JR: What was the design brief for the towers? And was there a shortlist of &ldquo;must-haves?&rdquo;&nbsp;

TL: Pavilions Residences stands at the gateway to Sydney Olympic Park, therefore a strong architectural statement was called for. Equally important was creating a connection with the natural environment and designing around three majestic Moreton Bay fig trees. Two of these decades old trees stand at the Australia Avenue edge of Pavilions Residences, forming a botanical marker for Sydney Olympic Park. The other was relocated to a new position on the site in a delicate six-month operation. The key design principles were:

-Vary the building heights to enrich the future desired scale and character of the precinct; 
-&nbsp;Create a more successful transition from 30+ storey residential towers on Australia Avenue to lower-scale buildings within the precinct; 
-&nbsp;Provide a gateway to Sydney Olympic Park from Australia Avenue south; 
- Minimise overshadowing to communal space; 
-&nbsp;Provide retail amenity and courtyard adjacent to the existing Fig Trees; 
-&nbsp;Use contrasting materials to create visual interest and define the scale and architectural quality of the building; 
-&nbsp;Maintain accessible communal open space with areas for passive and active recreation;

All open space and common areas to have access to natural light and air, and all lift cores open onto large lobbies with windows providing natural outlook and seating. 
 
JR: What did BVN bring to the table? Did they win a design competition? How did the process go for appointing them?

TL: BVN won the Design Excellence competition&nbsp;and then submitted a revised design following amendments to the Sydney Olympic Park 2030 Masterplan. The updated masterplan allowed for increased floor space in response to Government proposals for Metro West and Light Rail connection. This paved the way for a taller gateway tower with more apartments enjoying the sensational views over the district to the city.

JR: What do you feel are the biggest draw cards for buyers?

TL: Buyers seeking quality construction and finishes, and layouts that enhance liveability, are naturally drawn to Mirvac apartments. Pavilions Residences offers Mirvac&rsquo;s customary quality along with a living environment that has been carefully considered to enhance the connection to nature. From the moment you enter Pavilions, stroll along the majestic colonnade past beautiful gardens, you feel uplifted. That feeling continues as you enter the lobby with its exclusive residents&rsquo; lounge, al fresco terrace and co-working space.

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The shared spaces, including the gardens, with bocce court, barbecues and covered dining pavilions, and fully equipped gymnasium, all contribute to a healthy lifestyle and opportunities for residents to get to know each other and build a strong sense of community. The other important factor for buyers is proximity to 430 hectares of parkland right on the doorstep and a location between the two CBDs of Parramatta and Sydney. The advantages of living between these two powerhouse CBDs will become even more apparent as major transport infrastructure such as Metro West and Parramatta Light Rail Stage 2 are completed in coming years.

JR: Can you talk a bit about the Mirvac milestones for Pavilions Residences?

TL:&nbsp;Pavilions Residences was the largest single stage development ever undertaken by Mirvac with the four buildings constructed simultaneously using four cranes at one time. Over 40,000 cubic metres of concrete went into the build, along with 175,000 bricks, 17,200 sqm of floor tiling and 9,100 sqm of balcony pavers.

Innovation has been a constant at Pavilions Residences. LIV Indigo at Pavilions is Mirvac&rsquo;s entry into the burgeoning build to rent sector, offering long term secure leases.

Mirvac&rsquo;s investment in LIV Indigo is a bonus for buyers of Pavilions Residences, ensuring an on-going commitment to the success of the project.

Another first at Pavilions Residences is our world first apartment using &lsquo;green ceramics&rsquo; made from waste glass and textiles as a construction material. Through Mirvac&rsquo;s on-going collaboration with the UNSW Centre for Sustainable Materials Research and Technology (SMaRT) the apartment opens the door to zero waste in construction and a reduction in demand for resources.

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JR: How do you see the Sydney Olympic Park area changing in the next five to 10 years?

TL: Sydney Olympic Park has undergone massive change in the past five years and this will only continue in the five to 10 years ahead. Five years ago, the resident population was only about 1,500; today it is more than 6,000. The Sydney Olympic Park 2030 Masterplan lays out a vision for the future with an expanded Town Centre catering for around 23,500 residents and a daily worker population of around 34,000 and 5,000 students.

As major transport projects are completed, early adopters are likely to reap the benefit, living within minutes of the Parramatta and Sydney CBDs by Metro Rail, while enjoying the rare luxury of parkland right on the doorstep. The East has Centennial Park, the West has Bicentennial Park, more than twice the size with a greater variety of walking and cycling trails.

The apartments have favoured working professionals, well advanced in their careers, Mirvac's general manager of residential Toby Long told Urban.

What a buyer needs to know about Pavilions apartments in Sydney Olympic Park: Five minutes with Mirvac's Toby Long

Nestled amongst verdant parklands, you&rsquo;ll find the tranquil Pavilions Residences, an exciting, newly completed development by one of Australia&rsquo;s leading developers, Mirvac.

Situated in the heart of Greater Sydney&#39;s sporting district, Pavilions by Mirvac offers residents a vibrant lifestyle, with world-class amenities, eateries and transport on their doorstep.&nbsp;

A selection of one, two and three bedroom apartments, terrace homes and Sky Homes are currently available for sale.

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Urban has shortlisted five reasons why buyer&rsquo;s should consider an apartment in Pavilions.

<h2>1. Developed by Mirvac and BVN Architects</h2>

Mirvac is one of Australia&rsquo;s leading developers with many of their projects designed by their in-house design team.

With currently $24 billion of assets under management in Sydney, Melbourne, Brisbane and Perth, Mirvac has a solid record of continually delivering a quality product.

BVN, whose HQ is in Sydney, has an international footprint and global reputation for design leadership and innovation, with offices as far as New York. The firm has won more Sir John Sulman Medals than any other Australian practice.

<h2>2. Designed by BVN Architects</h2>

Mirvac&#39;s in house design team worked with the internationally renowned BVN Architecture on Pavilions. BVN has a global reputation for design 
 
leadership and innovation, with offices as far as New York. The firm has won more Sir John Sulman Medals than any other Australian practice.

They&#39;ve worked on the likes of the Greenland Centre in the Sydney CBD, Brisbane&#39;s Ascot House, in the multi-stage Ascot Green development, and the 430 Pitt Street, a hotel designed with a sloping green waterfall, also in Sydney.

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<h2>3. The apartments</h2>

Touted as Mirvac&#39;s largest-ever single stage residential project, the four-tower project offers a distinct range of 1, 2 &amp; 3 bedroom apartments, terrace homes and Sky Homes.

Each home is light and spacious, with timeless interior design, high-quality appliances and an abundance of storage. All properties have been designed to suit every lifestyle.&nbsp;

<h2>4. The location and amenities</h2>

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Located within the Sydney Olympic Park precinct, the site is 16 kilometres west of the Sydney CBD and nine kilometres from the Parramatta CBD.&nbsp;

Living in Sydney Olympic Park means having access to public transport amenities like the Sydney Olympic Park station, Australia Avenue bus stop, Concord West Station and a future proposed metro rail which will see a tram reach the city in less than 20 minutes.

As well as being a short stroll to local cafes and restaurant, Pavilions by Mirvac features its own alfresco dining facilities, part of the central 4,500 square metre courtyard which brings residents of all four towers together.

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Other amenities include a fully equipped on-site gym, a community room and a multifunction space complete with a kitchen.

The shared space has also been designed with families in mind, complete with a dedicated playground.

<h2>5. Sustainable building and design measures</h2>

<a href="https://www.urban.com.au/buildings/pavilions-2-figtree-drive-sydney-olympic-park?utm_source=news_article.project_embed&amp;source_news_article_id=7363&amp;ref=news_body_link?source_news_article_id=92948&amp;ref=news_body_link" target="_blank"><img alt="" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/coffee_bag_wall.jpg" /></a> 
Pictured is a feature wall made of recycled coffee bags

In line with Mirvac&rsquo;s sustainability goals and those of its cornerstone investor, the Clean Energy Finance Corporation, LIV Indigo has been designed to achieve 40 per cent less greenhouse gas emissions. Energy and water-saving measures include upgraded glazing to improve thermal performance, LED lighting throughout, energy-efficient appliances, solar power and water efficient taps, toilets, showers and washing machines.

Residents will also have access to electric vehicle charging stations and connection to Sydney Olympic Park&rsquo;s recycled water network. One of the apartments was showcased by Mirvac as part of their efforts for a circular economy.

In collaboration with the University of New South Wales Centre of Sustainable Materials Research and Technology (SMaRT), Mirvac have utilized technology to turn waste materials into &quot;green ceramics&quot;, which were used throughout one of their display&nbsp;apartments. To see Urban&#39;s tour of the apartment, <a href="https://www.urban.com.au/news/nsw/mirvac-make-concerted-circular-economy-effort-with-apartment-made-of-waste">click here</a>.

Situated in the heart of Greater Sydney's sporting district, Pavilions by Mirvac offers residents a vibrant lifestyle, with world-class amenities, eateries and transport on their doorstep. 

jordan_55689

Five reasons why Mirvac's Pavilions should be on a buyer's shortlist

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A mortgagee apartment in Sydney Olympic Park’s Australia Towers has been listed for sale via online auction.
Located at 906/7 Australia Avenue, the ninth-floor apartment features one bedroom, one bathroom, and a single car space.
It also has a small private study.
The property last traded in 2012, when it sold for $540,000.
Joe Bousimon, from Belle Property Strathfield, made the listing.
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The median price for a unit in Sydney Olympic Park is $699,000.
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wdavis-8cCN98p7xp

Olympic Park mortgagee apartment in Australia Towers listed

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A mortgagee apartment in Sydney Olympic Park remains listed at $575,000.
It is located on level nine of the Australia Towers complex, at 906/7 Australia Avenue.
It features a single bedroom, a bathroom, a kitchen, a balcony, and a secure car space.
There is 76 square metres of internal floorspace.
Sydney Harbor’s iconic skyline is visible from the unit’s balcony.
It last sold in 2012 for $540,000 – just $35,000 less than it is listed for currently.
Joe Bousimon, from Belle Property Strathfield, has the listing.
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j.ballantyne1990-6AQqhLzZaK

Australia Towers mortgagee apartment listed at $575,000

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The NSW Government today released the final report from the independent investigation into Opal Tower. 
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It has recommendations about ensuring qualified people design buildings and that buildings are built to those designs.
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The biggest recommendation in today’s report is about registering engineers.
“We will be working through the detail of today’s report with our new Building Commissioner to make sure that when homeowners are handed over the keys to a new building, it is safe, structurally sound and free from major defects," Minister for Planning and Housing Anthony Roberts said.
The report came after Professors Mark Hoffman, John Carter and Stephen Foster were asked to consider the cause of the structural damage to the Opal Tower on Christmas Eve.
The report advised security camera footage showed the cracking in the bottom corners of the bottom panel (Panel A) on Level 10 with the time stamp on this video recording indicated that the cracking of the panel commenced at approximately 2.16 pm on Monday 24 December 2018 and continued for approximately 8 seconds.
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“Our final report confirms that a number of structural design and construction issues, including non-compliance with national codes and standards were responsible for the observed damage at Opal Tower.
“We found some of the as-constructed hob beams and panel assemblies were under designed according to the National Construction Code and Australian Standards, leaving the beams prone to failure.
"We also found construction and material deficiencies likely contributed to the damage to the hob beams on levels 4 and 10.
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“We consider that the building is overall structurally sound and the localised damage to the building can be rectified to ensure the building is compliant with the National Construction Code.
"We agree in principle with the rectification works planned to date, noting that these have advanced considerably since our interim report was released.
"However, we repeat our call for qualified structural engineers to check the final design and construction proposals in detail before major rectification works begin and before the building is deemed completely safe for occupancy, while noting the reoccupation of the building extends beyond the scope of our investigation and is a matter for residents and the builder."
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It confirmed most, if not all, major columns in the building had been designed so that their maximum axial load carrying capacity far exceeded the design loading imposed on them, indicating a very high factor of safety to these critical elements. 
However, a preliminary analysis of the splitting forces near the interface with the two hob beams reviewed (Level 4 – grid line A and Level C -grid line C) indicates that this aspect of the design should be confirmed by a qualified engineer for all such features.
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It found no evidence contradicting their interim assertion that the building is overall structurally sound, although there is significant damage to some elements. 
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It advised it was notable that the observed damage was constrained to the inside facing of the hob beam; the outside of the hob beam at the critical section was supported by a lateral garden bed wall (Figure 16) built integrally with the slab and against the hob beam.
This wall likely provided support to the outer side of the hob beam forcing the damage inward where such support was lacking.
The damage remained “hidden” until exposed on 27 December 2018 after removal of an internal wall in the adjacent apartment. 
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The site observations of the damaged beam are consistent with a bursting failure.
"There are contradicting views and documentation as to the design strength of the hob beam concrete on Level 4. 
"Notwithstanding, 65 MPa concrete was understood to have been poured during construction as it was specified for the puddle pours in the slab around the columns and it was considered expedient to use the same batch of concrete when pouring the hob.
"During our investigations, and subsequent to the issue of our interim report, records of strength for the concrete used to construct the hob beam were provided to us. 
"These reveal 28 day strengths of these concrete samples as 50 MPa, where 65 MPa concrete was ordered for supply, indicating that the concrete in the hob may also have been of a lower strength. 
"Our independent analysis of concrete core testing samples, extracted and tested in January 2019 by Mahaffey Associates, did not contradict this observation.
"Clearly, this mis-match in design strengths points to a possible and unfortunate ambiguity in the interpretation of the design documentation."
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The report noted that extreme environmental events, while rare, could precipitate further damage and consequently it would be prudent not to delay rectification works.
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It formally noted: 
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The as-constructed hob beam / panel assembly was under-designed, according to the National Construction Code (NCC) and the Australian Standard for Concrete Structures (AS36001), at a number of locations in the building. This left the hob beams susceptible to failure by shear compression and bursting.
</li>
<li>
The decision, taken after the initial design, to grout only partially the joints between the hob beams and panels, significantly raised the levels of stress in the hob beams on levels 4, 10, 16 and 26.
</li>
<li>
Construction and material deficiencies likely precipitated the observed major damage to hob beams on Level 10-C (electrical conduit and reinforcing steel in the cover region, and a panel repair) and Level 4-A (lower strength concrete than used in hobs elsewhere and partial grout coverage).
</li>
<li>
The observed damage in the concrete panel at Level 10 and in the Level 10 floor slab was likely a consequence of the adjacent hob beam failures and not the original cause of the damage observed at Level 10.
</li>
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It formally advised making the Opal Tower safe for occupancy
<ol start="5">
<li>
Appropriate rectification works can address deficiencies in the original, as- constructed, structural design and ensure the building is compliant with the NCC.
</li>
<li>
Significant rectification works are necessary to ensure that the building and all its structural components satisfy the NCC and specifically the current AS3600- 2018
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<li>
The damaged hob beams should be rectified to provide the required load carrying capacity.
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Other hob beam / panel elements of similar as-constructed, structural design may not comply with the NCC and AS3600-2009 and, if so, will require rectification works. We also recommend checking of the forces in other structural elements adjacent to the hob beams, such as the columns.
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We agree in principle with the rectification works planned to date, noting that these have advanced considerably since our interim report was released but have yet to be agreed by all parties and independently certified.
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     10. We recommended that a detailed analysis be undertaken of the potential redistribution of loads from the damaged elements to ensure that other newly loaded building elements, before and after rectification works, have suitable capacity and to avoid future damage. A preliminary analysis has been carried out and indicated structural loads satisfied the NCC in the non-damaged parts of the building structure. Nevertheless, this finding should be robustly and independently verified.
     11.We recommend that all designs and construction associated with the rectification works be checked and certified as safe for building occupancy by qualified independent structural engineers.
     12. The viability of residents re-entering the building extends beyond the structural issues considered here and hence beyond the scope of this investigation. Nevertheless, we would recommend that items 9-11 listed above be completed prior to re-occupation.
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A full copy of the final report is available at: <a href="https://protect-au.mimecast.com/s/qP8qCzvkvEsGQKRWf4z48_?domain=planning.nsw.gov.au" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://protect-au.mimecast.com/s/qP8qCzvkvEsGQKRWf4z48_?domain%3Dplanning.nsw.gov.au&amp;source=gmail&amp;ust=1550870647570000&amp;usg=AFQjCNHpF5H2J5EYpQ-qQwaxqaNGSMtc2Q">https://www.planning.nsw.gov.au/finalopalreport</a>
 
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NSW's apartment construction reform set to follow the devastating eight seconds of Opal Tower low strength concrete cracking

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One apartment of the 390 in the notorious Opal Tower has been bravely offered for sale.
But there's been no offers since it was listed 10 days ago.
Sy Realty Sydney agent Joe Wang told The Telegraph "our clients asked us to test the market".
<div>Wang, who has been selling at Sydney Olympic Park for three years said their timing was "challenging."</div>
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<div>He declined to suggest a likely selling price, although he hoped the final report of the State Government on the building's cracking, may trigger a more positive sentiment. </div>
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The 81 sqm unit (below and bottom) with an enclosed balcony and study cost $757,000 in 2014.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/2/25/Opal1.jpg" alt="">
The listing was taken down from listing websites after just a few days as the agency decided it was better to take prospective buyers from their database through the two bedroom, level 15 offering.
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There were nine apartments for sale before the cracks started to appear and residents were evacuated on Christmas Eve. 
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<div>"We expect more apartments will come up for lease than for sale," he said.</div>
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Sy Realty agents Du Yang and Nick Ling are seeking a $500 a week tenant for a one bedroom apartment on level 22 of the cracked building.
Agents have indicated their expectation that owners will take a big hit on sale prices.
The last settled apartment in the block, a month before the cracking, was when a one bedroom apartment fetched $640,000.
It was just up on its $637,000, 2014 off the plan price.
The Opal Tower developer, developed by Ecove, was designed to be the tallest in the Sydney Olympic Park precinct, boasting 360 degree views across Sydney.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/2/25/Opal2.jpg" alt="">
The development was completed in last August, with off the plan sales ranging from $505,000 up to $2.498 million, which ranks as the record price for the precinct.
Even before the cracking, Sydney Olympic Park Authority noted in its recent annual report that demand for new apartments in the precinct had "dropped significantly."
"Whilst previously strong demand for new stock saw excellent take-up of apartments in new residential projects, market reporting and pricing corrections across the residential property market saw this demand drop significantly."
"As a result enquiries have slowed significantly compared to previous years, and may well continue to do so over the next few years."
Opal Tower at 1 Brushbox Street was built in the shape of an equilateral triangle with curved corners.
The 117 metre high trophy building was very popular with buyers of Chinese origin, many of whom bought off the plan in 2014 and 2015.
This article was first published in the Daily Telegraph.
 
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One apartment in the notorious Opal Tower bravely for sale

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The interim report on the issues affecting Sydney’s Opal Tower was released today.
It concluded the building is “structurally sound” but “significant rectification works are needed" to repair and strengthen damaged hob beams and panels. But the residents did not get the news they wanted about moving back in.
The investigators will continue to look at design and construction issues.
Minister for Planning and Housing, Anthony Roberts, thanked owners and residents for their support during the government’s independent investigation. “I want upfront to thank the owners and residents for their patience throughout the last few weeks,” Mr Roberts said.  “I can’t begin to comprehend the disruption this has caused to their lives, particularly at this time of year, and I thank them all sincerely for allowing the government’s investigation team and other teams to get on with their work”. Mr Roberts pointed out that today’s document was an interim report which ruled out extreme weather, poor quality materials and issues with the foundations. “We can confirm that, while the building is structurally sound, significant rectification works are required to repair and strengthen damaged hob beams and in some cases the panels that rest on them. “However, while we have isolated the probable cause to localised structural design and construction issues, we need more information to make definitive conclusions about the cause or causes of the damage to this structure and the proposed rectification. “We agree that the structural principles behind the rectification works are sound, but recommend independent oversight and review by qualified structural engineers before any major works begin.
“We also believe more work needs to be done to check the structural design of the hob beams and associated structural members with consideration given to strengthening them wherever they are in the building. “We recommend that independent and qualified structural engineers be engaged to check final proposals in detail, before major rectification works begin. “Re-occupation of Opal Tower extends beyond the scope of this investigation and was a matter for residents and the builder, subject to appropriate engineering and design oversight and guarantees." Robert said more work is also needed before the government "can provide recommendations on what needs to happen to avoid incidents like this in future.”
“I have been impressed with the efforts of all parties to work together to get to the heart of the issues and to help owners and residents get access to their properties as quickly as possible. “I trust that this independent interim report will be an important input to the discussions between the builders, the owners’ corporation and residents about moving people back into the building,” he said. A full copy of the interim report is <a href="https://www.planning.nsw.gov.au/interimopalreport" target="_blank">available here</a>. 
<div>It arises that residents face more uncertainty about whether they should move back in.</div>
There are another three ongoing investigations into what caused the cracking of concrete panels that sparked the evacuation of the owner occupier and rental occupants living in the Sydney Olympic Park building.
The NSW Government appointed two engineers to investigate: University of NSW dean of engineering Mark Hoffman and emeritus professor at the University of Newcastle’s School of Engineering John Carter.
Their interim report was handed to the government last week with Planning Minister Anthony Roberts issuing the report today.
The apartment’s body corporate has also hired an engineering firm Cardno to look into the problems and builder Icon Co has engaged Rincovitch Partners.
WSP, the original structural engineer involved in the project, is also investigating.
A previous statement issued by professors Hoffman and Carter updating progress on their investigation said initial assessments found no evidence of any issues with the foundations of the building, though “we believe that there are a number of design and construction issues that require further investigation”.
<div>Sydney Olympic Park entered into an agreement with Ecove in March 2014 to undertake the residential development.</div>
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SOPA revealed to The Daily Telegraph this month that the total value of the transaction was $47.9 million.
The Daily Telegraph reported last month the purchasers bought their apartment from the government’s Sydney Olympic Park Authority (SOPA)
<div>A SOPA spokesman denied any potential ongoing liability for the government body.</div>
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<div>"It would appear on paper people are buying apartments directly from SOPA but they're not.</div>
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<div>"SOPA's obligations are limited to transferring title because SOPA are the original owner of the land," he said.</div>
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<div>The Australian reported Sydney Olympic Park Authority, and not Ecove — the company that developed the land into Opal Tower — could be sued by apartment owners because of changes in building warranty laws designed to close a loophole in the NSW Home Building Act</div>
<div>Homeowners have two years to bring a claim if there are minor defects and six years for major defects. 
Changes to the act in 2010 meant that the owner of the property on which a building is built is considered the developer under the warranties, even if they did not engage the builder. 
“Ecove has been described in the media as the developer but without having seen the agreement in place between it and SOPA (the Sydney Olympic Park Authority) to develop the site, in my view given the current state of the law it would appear to have no liability under the statutory warranties to the owners,” said Paul Jurdeczka, a strata lawyer with 20 years’ experience from Chambers Russell Lawyers. 
“Presumably SOPA could sue Ecove if sued, and Ecove would sue Icon in turn, but these are all issues for the lawyers. However, one of the three major players in the project has no direct liability to the owners if they had to sue under the statutory warranties, because of a loophole in the legislation and the law.”
Banjo Stanton, a lawyer who specialises in residential defect litigation, confirmed that under the Home Building Act, the owner of the land during construction was considered the “developer”.
“If Sydney Olympic Park Authority owned the land during construction, then the government — via SOPA — is definitely on the hook,” he said. 
“If the position is that Ecove was not the landowner or the builder, it’s clear on the current state of the law that Ecove will not have any liability under the Home Building Act.”
The site has been owned by the crown and was transferred in 1992 to the Homebush Bay Development Corporation. 
It was then passed to Sydney Olympic Park Authority when it was established in 2001.
A Sydney Olympic Park Authority spokesman said it entered into a Project Delivery Agreement with Australia Avenue Development on its land. 
“The PDA requires the developer to assume all risks in relation to those works,” he said.
“SOPA’s obligations under those contracts are limited to transferring title.”
The chairman of the Sydney Olympic Park Authority is former NSW premier John Fahey who had a pivotal role in securing the 2000 Olympic Games for Sydney.
He is famously remembered for leaping from his seat in 1993 at the Monaco ceremony where Sydney won the right to host the Games.
In addition to being the SOPA boss, Mr Fahey is also the chair of the Australian Building Codes Board — a role he assumed in November 2017.
The ABCB is a Council of Australian Government (COAG) standards writing body that is responsible for the development of the National Construction Code.
The ABCB is currently undertaking an administrative review of building construction standards across the country for the state and federal governments.
 
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No definitive cause identified but Opal Tower is structurally sound but needs significant rectification 

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There are certainly opportunities in the current 2019 market to pay less than the last price.
But is there really such a thing as buying a bargain when it comes to property? And where are they?
This series of articles looks are specific examples of sale price or asking price falling. 
We take a look at where and if possible why this is happening.  
We came across this property for consideration.
A Sydney Olympic Park apartment in the Meriton built Botania complex has been listed for $720,000.
This asking price represents a drop in value of $178,000 when compared to when it was purchased off the plan in 2016.
Tony Fang of JR Landing is marketing the property which transacted for $902,000 in 2016.
Situated at <a href="https://www.realestate.com.au/property-apartment-nsw-sydney+olympic+park-128963338" target="_blank">321/2 Betty Cuthbert Avenue</a>, the property is a two bedroom two bathroom unit.
The near new property was constructed in 2017.
Set on 115 square metres, it features 97 square metres of internal space as well as access to facilities which include swimming pool, spa, sauna, and state of the art fitness centre
Stuck on the market for over a year now, the unit was originally seeking $729,000 - $769,000 in July 2018.
The listing then described it as an "urgent sale" and the asking price saw a reduction to $720,000 in November 2018 where it has remained.
<img src="https://www.urban.com.au/images/2019/7/16/SOP%202.png" alt="">
Property Observer advise that it is up to you to determine if the offering is a truly beneficial bargain.
Remember buying at the bottom of the cycle is fraught – as you can't really precisely pick the bottom nor know just how long until you see some price growth.
Be aware you could be buying a poor quality property in an area with ongoing issues of oversupply of stock.
The oversupply could be also putting downward pressure on rents.
Other price declines could be because the vendor needs a quick sale or paid way over the top on its last purchase chase.
Property Observer suggests property purchasing really does need to be a very well considered proposition with a long term mindset.
As a part of this series, we've already had a look at properties in <a href="https://www.urban.com.au/expert-insights/buying/98408-bargain-property-at-mount-eliza-home-at-2-million-discount" target="_blank">Mount Eliza</a>, and <a href="https://www.urban.com.au/expert-insights/buying/100193-bargain-property-in-central-geelong-sale-price-dips-after-one-year" target="_blank">Central Geelong</a> and <a href="https://www.urban.com.au/expert-insights/buying/99141-bargain-property-in-east-perth-near-new-apartment-makes-150-000-loss" target="_blank">East Perth</a>.
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