ABADEEN ADVANCES BOUTIQUE WOOLLAHRA PROJECT
Developer lodges plans for a $36 million, design-led apartment building on Edgecliff Road, reinforcing confidence in Sydney’s tightly held eastern suburbs.
2 min
Abadeen has lodged plans for a $36 million boutique residential development in Woollahra, marking the next phase of its expansion across Sydney’s most tightly held eastern suburbs.
The proposal, submitted for 101 to 115 Edgecliff Road, would deliver a six-storey building comprising 29 apartments and 50 car spaces on a prominent corner site bounded by Australia Lane and Adelaide Street.
Positioned within walking distance of Woollahra Village and Bondi Junction, the project aims to combine architectural distinction with the convenience of one of the city’s most connected lifestyle precincts.
The development responds to the NSW Government’s low and mid-rise housing reforms, which allow apartment buildings of up to six storeys within close proximity to major transport and retail hubs.
Abadeen said the design incorporates upper-level setbacks and a carefully articulated form to ensure the building remains sensitive to Woollahra’s established character.
Executive Chairman and founder Justin Brown described the site as a natural fit for the company’s long-term strategy.
“Edgecliff Road is a remarkable site close to Woollahra Village and Bondi Junction and exactly the type of well located, tightly held opportunity we seek,” Brown said.
“Our focus has always been to identify, secure and progress sites that deliver enduring value for residents, communities and our investors.”
The proposal follows the successful launch of Abadeen’s Henri House development in nearby Darlinghurst, where construction is now underway.
Chief executive Joe Tack said the strong response to that project reinforced demand for design-led apartments in the eastern suburbs.
“Woollahra is defined by heritage, lifestyle and connectivity, and the Edgecliff Road proposal presents an opportunity to contribute thoughtfully to the suburb’s evolution,” Tack said.
Established in 2000, Abadeen has built a reputation for premium residential and mixed-use developments, with recent projects including KOYO in Crows Nest, ENSO in Neutral Bay and Hampden in Mosman.
The company currently has more than 20 projects in delivery nationwide and a development pipeline exceeding $3.5 billion.
If approved, the Woollahra project would add to a growing wave of boutique developments reshaping Sydney’s eastern suburbs, where limited supply and enduring lifestyle appeal continue to underpin demand.
As the season turns, Handpicked Wines’ latest Pinot Noir and Chardonnay releases reveal how subtle shifts in place shape what ends up in the glass.
Exclusive eco-conscious lodges are attracting wealthy travellers seeking immersive experiences that prioritise conservation, community and restraint over excess.
As Australia accelerates apartment construction, investors face a critical decision between high-rise living and land-backed homes.
3 min
Australia’s housing shortage has long positioned real estate as a cornerstone of wealth creation. But as governments push to deliver 1.2 million new homes, many of them high-rise apartments, investors are increasingly weighing whether vertical living offers the same long-term returns as traditional houses.
While apartments offer lower entry prices and strong rental demand in key locations, critics warn that strata costs, oversupply and lack of land ownership can undermine long-term capital growth.
LOCATION AND LIFESTYLE DRIVE DEMAND
Company RE chief executive Marcus Buskey says thoughtfully designed high-rise developments in lifestyle precincts can deliver strong returns, particularly in premium coastal markets.
Demand remains robust across the Gold Coast and inner-city Brisbane, driven by downsizers, professionals and interstate buyers seeking convenience and lifestyle.
“Apartments in premium Gold Coast areas like Mermaid Beach, Broadbeach and Burleigh Heads have consistently demonstrated capital growth, driven by limited availability, desirability of location and ongoing demand from lifestyle-focused buyers,” Buskey says.
He adds that quality, exclusivity, views and proximity to amenities remain critical factors influencing performance.
MELBOURNE MARKET SHOWS MIXED SIGNALS
Melbourne project marketing specialist Jon Ellis, founder of The Move, says apartments continue to dominate transactions, accounting for 360 of his last 400 sales.
However, he warns not all developments perform equally.
“Some lower-grade apartments in Melbourne may never go back up to the sales price they were achieving a few years ago,” Ellis says.
He notes that construction costs have risen sharply, making it harder to deliver strong investment yields. Yet demand remains strong for well-executed developments.
“Investors purchasing an apartment for $600,000 need to get about $600 a week in rent. If you can get that right and prove it, demand for apartments certainly outstrips residential houses.”
THE LAND FACTOR REMAINS CRITICAL
Like all investment opportunities, others favour a freestanding home over a high-rise apartment.
“In my opinion, the only people who make money from high-rise apartments are the developers who build and sell them,” buyers’ agent Gianni Musumeci says.
For this reason, the Sydneysider steers investors away from high-rise apartments. “While they may appear to be an appealing investment on the surface with attractive guarantees, modern designs and convenient locations at somewhat lower entry points, high-rise apartments are, in my view, rarely a good investment,” Musumeci, of Leverage Property Advisers, says.
“This is especially the case when compared to standard residential homes in suburban markets, primarily due to the overwhelmingly high supply of apartments, the high level of cash flow expenses, the number of defects commonly found in high-rise buildings and the cost to remediate them, as well as the lack of land ownership, which is the primary driver of capital growth.”
“Economics 101 tells us that capital growth is achieved when diminishing supply meets increasing demand. The issue with high-rise apartments is that they’re typically built in areas with overwhelming supply, and often, that supply exceeds demand,” he says.
“These developments are usually located around major transport hubs, and as a result, if you’re looking to buy in one of these areas, you’re competing with dozens or even hundreds of similar listings.”
“Apartments are far easier to mass produce because the only restriction is how high you can build. You can’t expect strong growth in a market that’s saturated. In contrast, standalone residential homes are limited by land availability,” Musumeci says.
WEALTH CREATOR FAVOURS FREEHOLD PROPERTY
Entrepreneur and investor Scott O’Neill, who has amassed a combined net worth of $153 million with his wife Mina, says his personal experience has reinforced the benefits of freehold ownership.
He owned a high-rise apartment early in his investing journey but sold it after two years.
“The yields can vary significantly, ranging from four to seven per cent, but that’s before accounting for sinking funds and strata fees. Your net returns often drop to between one and two per cent,” O’Neill says.
He says oversupply and rising strata costs can further weaken performance.
“Most long-term property owners end up selling high-rise apartments in favour of freehold properties.”
INVESTMENT DECISION DEPENDS ON STRATEGY
Despite the risks, apartments can still deliver strong results when chosen carefully.
Experts agree that location, developer quality, supply levels and long-term demand are critical factors.
While houses continue to offer superior land value and long-term growth potential, apartments can provide attractive yields and accessibility for investors seeking exposure to high-demand urban markets.
Ultimately, the right investment depends on an investor’s strategy, time horizon and appetite for risk.
On October 2, acclaimed chef Dan Arnold will host an exclusive evening, unveiling a Michelin-inspired menu in a rare masterclass of food, storytelling and flavour.
From warmer neutrals to tactile finishes, Australian homes are moving away from stark minimalism and towards spaces that feel more human.
