THE SEASIDE APARTMENT THAT THINKS IT’S A HOUSE
This property delivers on all the best bits of living in Sydney without the high maintenance
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For Sydneysiders attracted to the dual amenities of a beach location and city services, it is hard to imagine a better address than this apartment at Grande Esplanade, Manly.
Positioned across the road from the harbourside beach and Manly Wharf, this three-bedroom, two-bathroom property enjoys the ideal mix of privacy and accessibility to shops, restaurants and public transport, as well as being a stone’s throw from the water. Now on the market since the passing of the original owners, Ian and Dorothy Hales, who bought the apartment off the plan, it’s a rare opportunity for families, downsizers or professional couples with ‘work from home’ arrangements to achieve work/life balance in a covetable setting. The former owners found the property well suited to ageing in place, with indoor and outdoor living spaces to enjoy, as well as easy access.
With a generous 322sqm floorplan on title, the light-filled third floor apartment has direct access to shared gardens, which are maintained by building management, making the property feel more like a house. The former owners used the gardens to host family events, including a wedding during COVID, and it’s a great vantage point for watching the New Year’s Eve fireworks on the harbour.
With a $6 million price guide, it is sure to attract strong interest as a low maintenance, high amenity option.
Address: 303/54 West Esplanade, Manly
Auction: 10am February 25, 2023
Next inspection:
Price guide:
Agents: Jake Rowe 0414 612 546; Nathan Tse 0411 386 455 The Agency
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Strong rental fundamentals and tight supply have driven more than $155 million in Sydney apartment block and residential investment sales over the past year.
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Sydney’s residential investment market has recorded $155 million in apartment block and townhouse sales over 2025, underscoring continued investor confidence in rental-led assets despite broader economic uncertainty.
The transactions were completed by Knight Frank’s Investment Sales agents James Masselos and Adam Droubi, who negotiated 19 sales across Sydney during the year.
Residential investments accounted for 75 per cent of their total sales activity, supported by more than 4,200 active purchaser enquiries.
Co-living deal sets national benchmark
Among the standout transactions was the off-market sale of 142 Carillon Avenue in Newtown, a 37-studio co-living apartment block located close to the University of Sydney and Royal Prince Alfred Hospital.
The property sold for $21.5 million, setting a new benchmark for the living sectors market nationally.
The deal achieved approximately $581,000 per bedroom, believed to be one of the highest per-bedroom results recorded for a co-living asset in Australia.
Inner-city assets trade in one line
Other notable sales included a group of 12 townhouses at 108 Illawarra Road in Marrickville, sold in one line for $14 million, and a block of 20 studio apartments at 171 Rowntree Street in Birchgrove, which changed hands for $6.7 million.
Both transactions reflected strong buyer competition for well-located residential assets with established income streams.
Supply constraints underpin momentum
Mr Masselos said Sydney’s apartment block market continued to benefit from tight supply and strong rental conditions.
“Apartment blocks and broader residential investments remain a robust asset class, underpinned by strong rental growth, record low vacancy levels and scarcity of stock,” he said.
He added that more than $25 million worth of residential investment opportunities are expected to come to market in 2026, with buyer enquiry remaining elevated.
Mr Droubi said competitive sales campaigns had become a feature of the market as investors sought secure income and long-term value.
“Supply constraints and ongoing population growth underpin market strength,” he said. “New approvals and completions lag demand, keeping stock tight and boosting both rents and prices.”
Vacancy rates keep pressure on rents
According to Knight Frank, rental demand across Sydney remains intense, with vacancy rates well below typical “healthy” levels.
Many middle and outer-ring suburbs are recording vacancies of around 1.5 per cent or lower, maintaining upward pressure on rents and reinforcing the appeal of residential investment assets.
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