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.
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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.
A record-breaking $11 million sale at The Centennial Collection has set a new benchmark for luxury apartment living in Bondi Junction.
As interest rates, inflation and market sentiment fluctuate, investors are being urged to focus on data, not panic.
Australia’s median advertised rent has climbed to a record high, with every capital city recording quarterly price growth despite a slight lift in vacancy rates.
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Australia’s rental market has reached a new milestone, with national median advertised rents climbing to a record $670 per week in the June quarter as prices continued to rise across every capital city.
New data from realestate.com.au shows national rents increased 3.1 per cent over the quarter and 6.4 per cent over the past year, while capital city rents rose 2.2 per cent over the quarter to a median of $690 per week, up $10 from the March quarter.
REA Group economist Luc Redman said rental price growth had continued despite a small increase in vacancy rates.
“National median rents reached a new high in the June quarter, with widespread price growth across the capitals,” he said.
“The rent increases occurred despite a small increase in the rental vacancy rate over the same period.”
Melbourne and Perth recorded the strongest quarterly growth among the capitals, with rents increasing 3.5 per cent in each city. On an annual basis, Perth led the nation with rental growth of 10.3 per cent, followed by Hobart at 9.1 per cent and Darwin at 7.7 per cent.
Sydney remained Australia’s most expensive city for renters, with a median advertised rent of $800 per week, while Melbourne and Hobart were the most affordable capital cities at $600 per week.
Regional markets were more subdued, with rents holding steady over the quarter but remaining 5.3 per cent higher than a year ago, suggesting the rapid pace of growth outside the capitals has eased.
Mr Redman said the full impact of the Federal Budget’s changes to investor tax settings was yet to be seen.
“The May Federal Budget, which announced sweeping changes to investor tax settings, occurred in the middle of the quarter, so the full impact on the rental market is yet to be seen,” he said.
“While the vacancy rate has edged higher, the expected decrease in investor demand due to the budget’s tax changes could slow the pace of new supply, putting further pressure on rents.”
The report also found house rents continued to outpace units, rising 2.9 per cent across capital cities over the quarter compared with 1.5 per cent for units. Melbourne was the only capital where renting a unit was more expensive than renting a house, reflecting demand for well-located apartments.
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