St Leonards: Could it be the new Chatswood?

St Leonards is poised to take further advantage of its inner-city location with a host of new developments in the pipeline and under construction.

Homeowners have jumped on the bandwagon, banding together to sell multiple lots at a premium.

Last year a Hong Kong developer paid nine homeowners on Holdsworth Avenue and Canberra Street $66.6 million for a development site that could yield up to 257 apartments under Lane Cove Council’s new zonings.

The suburb is no stranger to high density development, with apartments making up more than 90 per cent of dwellings. Identified by the state government as a strategic centre and priority growth area, St Leonards could host up to 5000 more apartments by 2031.

Work is also underway on the new Sydney Metro, which will see a metro station in neighbouring Crows Nest, enhancing the already excellent public transport options on offer.

Kinsale Property Group agent Simon Platt says the suburb’s evolution will improve the status of the area overall and create huge population growth, potentially turning the suburb into a mini Chatswood.

Chris Reynolds of LJ Hooker Crows Nest says location is key to the area’s enduring popularity. 

“St Leonards is a great suburb to buy in because of its proximity to the city and its very central position with access to Military Road, Chatswood, North Sydney and North Ryde Business Park,” he says. “It’s a young, vibrant suburb with a good mix of investors and owner occupiers.”

Domain Property Group puts the median unit price at $860,000, with prices ranging from $500,000 for a studio apartment up to $2.7 million for a penthouse with panoramic city views.

Demand for off-the-plan apartments remains strong, with the first stage of Mirvac’s St Leonards Square almost selling out on launch day.

“Significant recent new unit development in St Leonards has generated moderate prices growth with demand set to continue to rise from those seeking higher-density lifestyle in an established suburb with close proximity to the city,” says Domain Group chief economist Andrew Wilson. “The suburb is of particular interest to north shore downsizers.”

1202 10 Atchison Street, St Leonards

1. 1202/10 Atchison Street
Guide: $1.2 million
2 bed 2 bath 1 car
Built 2016
Size 94 square metres
Strata levy $937 a quarter
Inspect by appointment
Agent LJ Hooker Crows Nest, 0416 265 967
Last traded off-the-plan for $870,000 in 2013
See more at: domain.com.au/2012910788

A striking, four-storey-high entry lobby greets residents at Air, one of St Leonards newest residential towers.  Just 100 metres from the train station, the pet-friendly development includes a podium-level, north-facing, open-air swimming pool, a gym, spa and health centre.

This yet-to-be-occupied apartment is set on the north-east corner of level 12 and commands sweeping district views. Wrapped in floor-to-ceiling glass, the light-filled living spaces include an integrated sunroom and a modern stone kitchen with breakfast bar seating, an integrated fridge, AEG appliances and a mirrored splashback. The bathrooms come with Villeroy & Boch basins, floor-to-ceiling tiles and frameless glass shower screens and there is a separate laundry. Each of the bedrooms is carpeted and has a built-in wardrobe. Additional features include timber floors, ducted airconditioning and lift access to secure basement parking and a storage cage.

Room for improvement: Consider installing window coverings.

2. D312/12 Duntroon Avenue
Guide: $770,000 – $800,000
1 bed 1 bath 1 car
Built 2011
Size 99 square metres
Strata levy $1130 a quarter
Inspect Sat, 10am-10.30am; Wed, 5.30pm-6pm
Agent Kinsale Property Group, 0422 289 400
Auction August 6
Last traded off-the-plan for $555,000 in 2009
See more at: domain.com.au/2012906194

Designed by architects Allen Jack + Cottier, Pavilions on the Park was awarded first place at the 2010 Urban Development Institute of Australia Awards for Excellence. The low-rise development is located opposite Newlands Park, a family-friendly park with playground equipment, barbecues and a leash-free area for dogs.

This west-facing apartment enjoys leafy views straight through the treetops. The well-maintained property comes with shadowline ceilings, a stone and gas kitchen with integrated stainless steel appliances, air conditioning and video intercom. The open-plan living spaces include a generous study nook and extend on to a full-width, covered balcony. The bedroom also has balcony access along with built-in storage. There is a bathroom with a shower over the bath and a separate, European-style laundry. Agent Simon Platt says the apartment rents for up to $630 a week.

Room for improvement: Customise the study with a built-in desk and shelving.

3. 820/1 Sergeants Lane
Guide: $580,000-$630,000
1 bed 1 bath 0 car
Built 1999
Size 55 square metres
Strata levy $916 a quarter
Inspect Sat, 10.45am-11.15am
Agent McGrath Crows Nest, 0402 036 489
Last traded off-the-plan for $200,000 in 1997
See more at: domain.com.au/2012910662

This apartment is set within the popular Forum Towers above St Leonards station and has access to excellent onsite facilities including 24-hour security, concierge, a gym, pool and spa. The Forum is also home to three office buildings, a Coles supermarket and 34 specialty shops. 

“The Forum always does well, it’s a popular place to invest and live in,” says agent Peter Chauncy.

This one-bedder is in good original condition with a combined living and dining room opening on to a covered, north-east facing balcony capturing leafy district views. The gas and granite kitchen comes with stainless steel Smeg appliances, the bathroom includes laundry facilities and the bedroom has a mirrored, built-in wardrobe. With secure lift access to trains, buses and the plaza shops, the apartment is an ideal choice for busy commuters.

Room for improvement: Consider installing timber floors to give the living spaces a lift.