<html><body>
A group of restaurants run by one of Australia's most highly regarded chefs, Justin North, has fallen victim to rapid expansion and has gone into administration.
North and his wife, Georgia, were well known for the award-winning Becasse restaurant, which first opened in 2001. The restaurant is housed in a 19th century sandstone building that was formerly a bank and is decorated with velvet, leather and crystal chandeliers.
Becasse was the big signing for the $840 million Westfield refurbishment and relaunch in October, 2010.
Since opening Becasse, the Norths have expanded their business to include casual restaurants Quarter Twenty One and Etch, takeaway food outlets Becasse Bakery and Charlie &amp; Co burgers, as well as Quarter Twenty One Providore, The Cookery School and Le Grand Cafe at Alliance Francaise.
The group now employs 150 staff. However, its growth has come at a price and Ferrier Hodgson partners Jim Sarantinos and John Melluish were appointed as administrators to the North Group yesterday.
Sarantinos said in a statement released yesterday that the North Group's "rapid growth" led to a "number of underlying business issues" which must be addressed to assure the long-term viability of the North Group.
He said the businesses will trade as usual while an urgent assessment of the North Group's financial position is undertaken.
Sarantinos said his first step will be to liaise with key stakeholders, including employees, landlords and suppliers, to provide them with information about the future of the business.
"I will be looking at restructure options, including the potential for the introduction of new investment," Sarantinos said.
"This is a well-known and well-regarded business that could flourish if appropriately restructured."
North was born in New Zealand and trained in New Zealand, Australia, France and the UK before returning to Australia in 1999.
He worked under chef Liam Tomlin at Sydney's Banc Restaurant and moved through the ranks of the kitchen to the role of head chef before venturing out with his wife, who was the sommelier at Banc, to open Becasse.
North has also released two cookbooks and is well known from his appearances on MasterChef.
North posted yesterday on Twitter from his account @JustinBecasse: "Thank you everyone for your support, to confirm Georgia &amp; I have put Becasse Group into voluntary administration with a view to restructure.
"In the meantime it is business as usual. We will post more updates soon.
"The support and messages have been overwhelming, sorry we haven't been able to respond to all, come by and eat with us soon."
The collapse of Becasse is the latest in a string of high-profile restaurant administrations. High-end restaurant Manly Pavilion closed recently with debts of $590,000, while, last year, creditors voted to liquidate Sydney's three hat Bilson's Restaurant, which had <a href="https://www.smartcompany.com.au/food-and-beverages/20111017-creditors-vote-to-liquidate-sydney-s-bilson-s-restaurant-as-debts-top-1-million" target="_blank">debts of $1 million</a>.
Even <a href="https://www.smartcompany.com.au/economy/20110829-gordon-ramsey-s-melbourne-restaurant-to-trade-on-despite-liquidation" target="_blank">Gordon Ramsay</a> found the Australian restaurant market tough, with his Melbourne restaurant Maze entering liquidation last year owing $4.6 million to local suppliers.
This article originally appeared on <a href="https://www.smartcompany.com.au/index.php" target="_blank">SmartCompany</a>.
</body></html>

cwaters-YrtBR88nBe

Justin North's restaurant group collapses

<html><body>
Investors in self-managed superannuation funds should be required to sign a written agreement acknowledging a warning that their funds would not be compensated for theft or fraud, the Australian Securities and Investment Commission told a Senate estimates committee last night.
The Australian Financial Review reported that the head of ASIC said the corporate watchdog would ask the Federal Government to introduce requirements that would force investors to sign a written acknowledgement before setting up an SMSF and every two or three years after that.
The move by ASIC comes after SMSF funds were deemed not eligible for compensation after the $176 million collapse of Trio Capital in 2009.
“I think it is actually frankly quite important that Australians who have self-managed super clearly acknowledge that they basically don’t have that protection,” ASIC chairman Greg Medcraft told the Senate committee according to the newspaper report.
Peter Burgess, technical director of the Self Managed Super Fund Professionals' Association, told SmartCompany that ASIC was getting carried away.
“I think we need to be careful not to get too carried away with this; where do you draw the line?” Burgess says.
“People going into superannuation funds, if they become non-residents, run the risk of their fund becoming non-compliant should they also sign a declaration?
This article originally appeared on <a href="https://www.smartcompany.com.au/index.php" target="_blank">SmartCompany</a>.
 
 
 
</body></html>

ASIC cracks down on SMSF risk and wants all investors to sign declarations

<html><body>
Michael Issakidis’ business partners say they were completely unaware of the $63 million in tax evasion and money laundering claims against him until their homes and businesses were raided by the Australian Federal Police last week.
The 67-year-old’s business partner at health group NeuMedix, Professor Max Reynolds, and Griffith University Professor Cordia Chu are among those picking up the pieces after the AFP charged Issakidis with tax fraud and conspiring to deal in <a target="_blank" href="https://www.smartcompany.com.au/legal/049369-fast-cars-tax-schemes-and-tech-patents-businessman-charged-over-alleged-63-million-tax-fraud">the proceeds of crime</a>.
More than $40 million of Issakidis’ luxury assets were seized under Commonwealth proceeds of crime legislation including a number of Rolls Royces, a Lamborghini, an Aston Martin, a Mercedes, a BMW, a number of yachts and “prime real estate” in Sydney and on the Gold Coast.
Reynolds is a director and owner of NeuMedix alongside Issakidis and Anthony Dickson who is also wanted for questioning by the police.
However, Reynolds told SmartCompany he was unaware of the claims made against Issakidis and Reynolds until the AFP turned up to raid his house and business.
“About 30 police arrived and raided two of the staff’s homes, our main office in Brisbane, then my home and the factories where we manufacture,” says Reynolds.
“I was informed about the circumstances and allegations and I must admit I was somewhat gobsmacked as I knew nothing about his personal business and the other businesses he works in beyond his role as a director of Neumedix Global.
“The Federal police told me when they came in I was not included in their list of suspects, as we were simply in the wrong place at the wrong time.
“The scale of it just beggars my mind. I still can’t get my head around exactly what they did or how they laundered the money.”
Reynolds says the raid was a traumatic experience with his wife in particular receiving a “big shock” when police turned up at their home.
The AFP and Australian Tax Office claim Issakidis used a complex unit trust structure to over inflate the prices of Australian patents once transferred offshore, claiming corresponding depreciation expenses to amass $63 million.
Reynolds says he does not know whether any NeuMedix patents were involved in the alleged scam.
“Because of his legal background [Issakidis] put together all the paper work needed to set the company up to market the product as we got to the point of production.
“I am a scientist not a businessman and our function is to do clinical trials.
“[Griffith] University was assisting us to make the right contacts and Michael’s role was to look after the administration of the legal requirements of the company.”
Reynolds says he does not believe the allegations against Issakidis will jeopardise the scientific work NeuMedix is undertaking.
“No, not at all as they are two separate entities completely, we are currently doing stage three trials into Dengue fever in Indonesia and as far as I am concerned it will not interfere with our work.
“We have nothing to hide and I was equally shocked as everyone else by this whole thing … I am still recovering from it.
“It was something I never expected would happen and I had no knowledge of the alleged illegal activity.”
Through Reynolds, Issakidis’ influence has also spread to the Australasia Botanical Medicine for Population Health Program at Griffith University.
The program pursues and promote international collaborations in research and development of herbal medicine for global health and is currently focused on the application of melaleuca, a herbal product that researchers believe may be able to treat rare diseases.
Professor Cordia Chu heads the team at Griffith University and she says was “totally shocked” to hear of the allegations against Issakidis.
Chu was quick to distance herself and the university from Issakidis claiming that her involvement with him was limited to that of a “matchmaker”.
“I have only had a couple of casual meetings with Michael and I have nothing to do with him”, says Chu.
“Our university’s only involvement was to introduce [NeuMedix] to an Indonesian university which is researching the impact of melaleuca on Dengue fever.
“So we have no particular dealing with Michael, we just introduced them for this public health issue.”
Chu says she does not know if any of Griffith University’s research is at risk as a result of the alleged transfer of Australian patents offshore and the over inflation of the patents.
“I hope it won’t because the university is looking for a cure for something that is really a tremendous challenge for the world and large populations are at risk,” says Chu.
“I like to stay clear from the commercial side of any venture.”
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/index.php">SmartCompany</a>.
 
 
 
</body></html>

Developer Michael Issakidis' business partners “gobsmacked” at $63 million tax racket claim

<html><body>
The Australian Federal Police have charged developer Michael Issakidis with tax fraud and conspiring to deal in the proceeds of crime after dismantling what it claims is a multimillion-dollar tax evasion and money laundering scheme.
The 67-year-old company director and property developer came to public attention last year when he sued game show legend "Baby" John Burgess for rent he claimed Burgess owed him for living in his Gold Coast penthouse.
Issakidis was arrested on Tuesday following a seven month joint investigation between the AFP and Australian Tax Office under Project Wickenby in the largest tax fraud investigation identified since it was launched in 2006.
More than $40 million of Issakidis’ luxury assets have been seized under Commonwealth proceeds of crime legislation including a number of Rolls Royces, a Lamborghini, an Aston Martin, a Mercedes, a BMW, a number of yachts and “prime real estate” in Sydney and on the Gold Coast.
Issakidis is a former lawyer and listed as the managing director of Queensland-based NeuMedix Health Group, a group of 16 investment and technology companies.
The NeuMedix website describes Issakidis’ role as “work[ing] closely with the scientists and inventors to ensure the integrity of the technology is not compromised”.
“Through his network of professionals and colleagues he provides unprecedented exposure for our innovators to meet industry leaders and influencers.”
The AFP and ATO claim Issakidis used a complex unit trust structure to over inflate the prices of Australian patents once transferred offshore, claiming corresponding depreciation expenses to amass $63 million over a three year period.
The AFP and ATO allege these funds were then laundered through an account in the UK and numerous accounts in Hong Kong before being transferred back into Australia.
NeuMedix was contacted by SmartCompany for comment but did not respond prior to publication.
ATO Commissioner Michael D’Ascenzo says the operation uncovered a serious abuse of the integrity of the tax system.
"Parties who rely on tax driven deals to justify the commercial viability of business transactions are on notice that we will use our anti-avoidance rules to deal with such schemes,” D’Ascenzo says.
“The ATO will pursue all means available, including partnering with other law enforcement agencies, to respond firmly to these tax avoidance and evasion behaviours and protect the public revenue."
AFP Commissioner Tony Negus says the charges demonstrated the ongoing commitment by the police to disrupt serious criminal activity.
“Taking the profit out of crime is the aim of the Criminal Assets Confiscation Taskforce which is targeting organised crime’s deep pockets,” Commissioner Negus says.
The federal government congratulated the AFP on the seizure and Minister for Home Affairs and Minister for Justice Jason Clare says the key was that organised crime is driven by money.
“Take away their money and assets and it reduces the incentive to commit crimes,” Clare says.
“Just like with Al Capone – you can catch criminals by following the money.”
This article originally appeared on <a href="https://www.smartcompany.com.au/index.php" target="_blank">SmartCompany</a>.
 
</body></html>

Fast cars, tax schemes and tech patents: Developer charged over alleged $63 million tax fraud

<html><body>
Confidence in the property industry is increasing while house prices are likely to stabilise, according to a report published today by ANZ.
The Property Council of Australia-ANZ Property Industry Confidence Survey revealed a more optimistic property industry outlook with confidence increasing by six points in the June quarter to 113 compared to 107 in the March quarter.
The 2,300 professionals polled from the property and construction sector tipped house prices to stabilise and their own forward work schedules to lift.
The index shows improved confidence underpinned by an improved outlook for the economy and construction activity and more optimistic expectations for commercial property capital growth and house prices.
House price expectations in the June quarter indicate the property industry see prices levelling out, with 73% of all respondents expecting house prices to increase or remain unchanged in the next year.
With existing underlying housing market pressures, expectations of further rate cuts and a stabilising economic outlook, house price expectations are improving.
On balance, the property industry expects prices to be largely unchanged in the next year.
The majority of respondents to the survey in all states and territories, except Tasmania, expect house prices to be the same or higher in the next year.
Despite a soft labour market and non-residential building approvals running below long-run average levels, the outlook for commercial building activity looks positive.
Almost 60% of those surveyed expected forward work schedules to increase in the coming year.
The most positive forward work expectations were reported by the NT where 83% expect forward work programs to increase, followed by Western Australia, Queensland and New South Wales.
Tasmania reported the weakest forward work expectations, with only 38% of respondents expecting work to increase in the coming year.
Despite weak employment growth through 2011 and job shedding in manufacturing, finance and retail industries, the property industry reported a positive outlook for staffing levels in the year ahead.
Property industry staffing levels are expected to increase across all states and territories, except Tasmania.
ANZ chief economist, Warren Hogan, says the main message from the index was that confidence in the industry is getting better particularly in the outlook for activity and also concerns around house prices.
“The other message is consistent with what is happening in the broader economy with quite a bit of regional diversity with the mining states really going from strength to strength, while a couple of the states are lagging, like Tasmania and Victoria,” says Hogan.
Hogan says while Australia’s mining and engineering-construction sectors boom, retail spending, non-mining related manufacturing, public services and tourism will remain under pressure.
“Hopefully it means the housing market continues to strengthen, particularly from an activity point of view as there has been a concern about a shortage of housing in the country,” says Hogan
The property market seems to be in a recovery after some softness last year.”
“Overall the industry is more confident as acute concerns over global economic conditions ease,” said Property Council chief executive, Peter Verwer.
“Respondents are feeling less buffeted than in previous quarters, where the storm in commodity prices, global economic insecurity and domestic political uncertainty contributed to negative sentiment.”
This article originally appeared on <a href="https://www.smartcompany.com.au/index.php" target="_blank">SmartCompany</a>.
 
 
</body></html>

House prices tipped to stabilise as property industry confidence improves: ANZ

<html><body>
Australia's black economy could be worth up to 30% of the nation's gross domestic product, according to research presented yesterday by RMIT.
Researchers have highlighted ''transfer pricing'' – the manipulation of payments and invoices between Australian companies and related companies in tax havens to minimise tax – as a major drain on government revenue.
Sharif As-Saber, deputy head of research and innovation at RMIT University, says the black market was estimated at around 13 to 15% of the economy but that was just taking into account tax evasion.
“If you add illegal transactions like human trafficking and drugs it could be much higher than this,” says As-Saber.
“These kinds of illegal activities are actually rising which is not actually accounted for in the official estimates.”
The researchers found international business crimes today include a wide range of acts which go beyond the traditional corrupt practices such as piracy, bribing and transfer pricing and may include illegal sports betting, illegal ship breaking, high-sea piracy, human trafficking and money laundering.
They can also involve intellectual property theft, counterfeiting and illegal trading of drugs, arms, artefacts, live endangered animals and even human body parts.
As-Saber says the researchers are working towards a new definition of the black economy and what they term “black international business”.
“We would like to come up with a different perspective within international business because at the moment we just look at businesses that are legal and what we have found out is that there are businesses that are not legal entities and they are also involved in some kind of business across borders,” says As-Saber.
As-Saber cautions that all illicit businesses are not illegal, for example he describes the contracts that US companies got after the Iraq war as “all legal but probably illicit”.
As-Saber says it is difficult to point to one industry or sector which is particularly involved in black international business.
“All industries are involved in this kind of activity,” he says.
As-Saber says it is a “difficult question” to determine what should be done to combat the international black economy.
“Any government actions are reactionary in nature and given the sophistication of technology and all sorts of things, the criminals and gangs are advancing very fast,” says As-Saber.
“The response of governments and the international community is not as fast and they are always lagging behind and that is the problem.”
This article originally appeared on <a href="https://www.smartcompany.com.au/index.php" target="_blank">SmartCompany</a>.
</body></html>

Australia’s black economy worth up to 30% of nation's gross domestic product: Research

Article summary

<ul data-end="785" data-start="311">
	<li data-end="459" data-section-id="5hbcyr" data-start="311">Pikos Group has released the five-penthouse collection at Skye Kangaroo Point, headlined by a two-storey sky home spanning more than 1,000 sqm.</li>
	<li data-end="561" data-section-id="1p7lq8n" data-start="460">Early buyer interest suggests the residences could set a new Queensland apartment price record.</li>
	<li data-end="667" data-section-id="1y70z0l" data-start="562">The collection includes four move-in ready penthouses and the highly customised Skye One residence.</li>
	<li data-end="785" data-section-id="yvm0y1" data-start="668">The release caps one of Bri​sbane's most ambitious luxury apartment developments overlooking the Brisbane River.</li>
</ul>

<hr data-end="790" data-start="787" />
Pikos Group has released the five-penthouse collection at its <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye by Pikos</a> development in Kangaroo Point, with early buyer interest indicating the flagship residences could eclipse every apartment sale previously recorded in Queensland.

The collection crowns the luxury riverfront development with five residences, including four completed penthouses and Skye One, a two-level sky home spanning more than 1,000 sqm that will be tailored to its eventual owner.

[smartcode_project:default project_id=90059 project_image_fid=374075]

Wanting to offer a fully customisable home, Pikos is offering Skye One as a blank canvas, allowing the buyer to work alongside the developer's design team to customise the home's layout, finishes and internal spaces.

The residence will feature a 247 sqm private rooftop terrace with its own swimming pool, sauna, steam room, outdoor kitchen and multiple entertaining areas overlooking the Brisbane River and CBD skyline.

The remaining four penthouses have been completed and are ready for immediate occupation, each offering four bedrooms, expansive open-plan living areas, soaring ceilings and private lift access.

[smartcode_project:default project_id=90059 project_image_fid=374059]

One of the defining features throughout the project is its use of Roman Classic Travertine, with more than 20,000 sqm of the natural stone imported from Italy after being personally selected by Pikos Group Founder and Executive Director Pedro Pikos, interior designer Julie Williamson and third-generation stone specialist Mario Caucci.

Pikos said the penthouse collection represented the culmination of the company's long-term vision for Skye.

"True legacy isn't measured by what we build today, but by what endures tomorrow," Pikos said.

"Our ambition is to create places that become more valuable with time, enrich the lives of generations, and stand as timeless landmarks long after we've stepped away."

[smartcode_project:default project_id=90059 project_image_fid=374060]

Williamson said the interiors were inspired by the natural character of Kangaroo Point and the Brisbane River rather than international design trends.

"Materiality tells the story of a place," Williamson said.

"We looked to the movement of the Brisbane River, the texture of the cliff face and the warmth of the surrounding landscape to create interiors that feel understated, enduring and unmistakably Brisbane."

Positioned above the Kangaroo Point cliffs, Skye places residents within walking distance of Howard Smith Wharves, South Bank and James Street while offering uninterrupted river and city views.

[smartcode_project_cta:default project_id=90059]

Joel Robinson

Brisbane's next apartment price record? Pikos unveils Skye's exclusive penthouse collection

Article summary

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289">DVB Projects is preparing to launch its second Gold Coast apartment development, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443">The 34-level tower will comprise just 49 ultra-luxury residences, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574">The launch follows strong demand at DVB's nearby Sea Glass project, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718">The development adds to the transformation of Old Burleigh Road, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.

The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" />

The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.

“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;

“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."

Brown says the site itself is "exceptional."

"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." />

The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.

A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.

Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" />

Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.

“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.

“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.

“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" />

Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.

With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.

[smartcode_project_cta:default project_id=145141]

DVB Projects to launch second Broadbeach apartment tower as demolition commences

A proposal to redevelop one of North Sydney's ageing commercial buildings has taken another step forward, with plans for a 38-storey mixed-use tower adding momentum to the long-awaited transformation of the Alfred Street precinct.

Now on public exhibition through the NSW Government's Housing Delivery Authority-led State Significant Development pathway, the proposal for 271-273 Alfred Street would replace an underutilised commercial building with 95 apartments, ground-floor retail, commercial space and affordable housing. The proposal was submitted by&nbsp;Tara Shore Pty Ltd, acting for the John Taylor Family Trust.

While the project will deliver much-needed housing on the southern edge of the North Sydney CBD, it also represents another piece of a broader precinct that has spent years in planning limbo.

<img alt="First look: New public domain vision underpins 95-apartment North Sydney tower on Alfred Street" data-entity-type="file" data-entity-uuid="7e1ce1b4-38df-48ab-992f-386814d86308" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Alfred%20St%20da%20podium.png?VersionId=sC_h6w.A9VEoB98qsqowPlIoz__sBZBt" />

Despite its proximity to both North Sydney Station and the Victoria Cross Metro, redevelopment of Alfred Street has progressed slowly over the past decade as broader planning controls, zoning and building heights remained unresolved. The introduction of the Housing Delivery Authority pathway has provided a new avenue for projects to progress, allowing rezoning and development assessment to occur concurrently and unlocking sites that have long been earmarked for renewal.

Designed by Office of Cortese &amp; Gilder, the proposal seeks to do more than replace an ageing office building. The architects have positioned the project as the first stage of a wider public domain vision that would improve pedestrian connectivity and create a more cohesive mixed-use precinct as neighbouring sites are redeveloped over time.

The proposal includes a widened Alfred Street setback, new street trees, landscaping and outdoor seating, along with a landscaped through-site pedestrian link connecting Alfred Street with Little Alfred Street. The connection is intended to become the first section of a future east-west pedestrian network extending across the precinct.

<img alt="First look: New public domain vision underpins 95-apartment North Sydney tower on Alfred Street" data-entity-type="file" data-entity-uuid="8ea39ac3-46ad-4562-b4a0-b862e91c2dda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Alfred%20St%20da%20site.png?VersionId=K7umCd21KpetEFuVfsPlnJKhUOsmTTdV" />

The mixed-use tower would comprise retail space at ground level, commercial uses on level two and apartments from level three upwards.

In total, the development would deliver 95 apartments, including nine one-bedroom, 28 two-bedroom, 56 three-bedroom and two four-bedroom residences. Twenty-one apartments, representing 15 per cent of the residential gross floor area, would be secured as affordable housing and managed by a registered community housing provider for at least 15 years.

Nine basement levels would provide 133 resident car spaces, seven motorcycle spaces and 111 bicycle spaces.

According to the Architecture and Urban Design Report, the public domain strategy is designed to transform what is currently an inward-facing commercial edge into a more active and connected pedestrian environment, creating a stronger relationship between the commercial core and surrounding residential neighbourhoods.

Office of Cortese &amp; Gilder has also prepared a broader public domain framework spanning neighbouring properties between 263 and 283 Alfred Street, arguing that a coordinated approach to redevelopment will deliver better public spaces, improved tower separation and a more connected streetscape as the precinct evolves.

The proposal comes at a time where North Sydney is slated for future residential growth. Commercial developer FiveX has residential plans for the neighbouring site at 275 Alfred Street. They've proposed a 39-storey mixed-use tower with 184 apartments, while Freecity was recently approved for nearly 300 apartments across a 51-storey building on Walker Street.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-freecity-gets-green-light-for-mixed-use-apartment-and-hotel-tower-in-north-sydney">First look: Freecity gets green light for mixed-use apartment and hotel tower in North Sydney</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-plans-39-storey-residential-tower-in-booming-north-sydney">First look: Fivex plans 39-storey residential tower in booming North Sydney</a>

&nbsp;

Alfred Street the latest North Sydney pocket to be transformed by residential development

Buyers considering a residence at boutique Gordon townhouse development <a href="https://www.apartments.com.au/new-townhouses/lume-gordon-43-47-dumaresq-street-gordon-nsw-2072">Lume</a>&nbsp;now have another reason to bring forward their decision.

For a limited time, purchasers of a residence at Lume will receive a BMW iX3 50 electric SUV, valued at more than $120,000, as part of their purchase. The offer is designed to add value for buyers while complementing the lifestyle envisioned for the architecturally designed Upper North Shore development.

Scott Timmins, Development Manager at <a href="https://www.apartments.com.au/developers/winim">WINIM</a>, said the partnership was created to provide buyers with a compelling reason to act.

"In today's market, buyers need a compelling reason to act now, and the BMW partnership was designed to create that catalyst. We wanted to add genuine value for our future purchasers. Choosing the all-electric BMW iX3 50 also reflects the values behind LUME, forward-thinking design, innovation and a more sustainable way of living. It's a premium incentive that complements the lifestyle our buyers aspire to and rewards those who commit early."

[smartcode_project:default project_id=7354 project_image_fid=374893]

Delivered by WINIM in partnership with Burtonwood Investment Partners, Lume comprises 14 architecturally designed two, three and four-bedroom townhomes created for families seeking the space of a freestanding house with the ease of modern, low-maintenance living.

The three-storey residences, designed by award-winning architecture practice <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, have been tailored for families and multi-generational living, featuring private internal lifts, flexible lower-level spaces, generous open-plan living and entertaining areas, media rooms, and landscaped outdoor spaces with custom outdoor kitchens.&nbsp;

Inside, engineered oak flooring, bespoke dining joinery with integrated wine fridges and backlit bars, sculptural porcelain bathrooms, Parisi freestanding baths and Astra Walker tapware create interiors that balance functionality with refined finishes.

Each townhome has been designed to combine generous internal spaces with sustainability initiatives such as EV charging infrastructure, while <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>'s landscaped communal areas, centred around a restored creek line and native planting, encourage residents to connect with nature and spend more time outdoors.

[smartcode_project:default project_id=7354 project_image_fid=269527]

Rothelowman's Gary Tsui said the architecture was conceived to respond carefully to its Upper North Shore setting.

"Our vision was to create elegant, uplifting homes that draw on and positively contribute to the local character through meticulously considered design and an interaction with the surroundings."

The communal landscape has been designed as more than an open space between homes. Arcadia's Ben Newell and Kate Phillips said the adjoining reserve provided an opportunity to create a distinctive natural retreat for residents.

"Just as waterways carve their way through Ku-ring-gai's landscape, a raised boardwalk weaves through the reserve, connecting the homes to this tranquil oasis."

[smartcode_project:default project_id=7354 project_image_fid=374892]

Located just 300 metres from <a href="https://www.apartments.com.au/developments/gordon-nsw-2072">Gordon</a> Village and Gordon railway station, Lume offers convenient access to Sydney's CBD while placing residents close to some of the North Shore's leading schools, including Ravenswood, Pymble Ladies' College and Knox Grammar. Lane Cove National Park, Gordon Golf Club and a range of cafés and restaurants further reinforce the family-focused lifestyle on offer, with the BMW iX3 50 complementing everything from local trips around Gordon to weekend drives and city commutes.

Construction is underway with completion expected in mid-2027.

[smartcode_project_cta:default project_id=7354]

Boutique Gordon townhomes now come with a BMW iX3 50

Two apartments have sold for more than $10 million at EADE Byron Bay, setting some of the highest apartment prices ever achieved in the coastal town and underlining the growing appetite for luxury beachfront apartments in Australia's most popular coastal locations.

The $210 million project by Vitale Property Group has now secured more than $70 million in sales, led by residences that changed hands for $12.75 million and $11.75 million.

The record-breaking transactions reinforce the shift occurring in Byron Bay's premium property market, where affluent downsizers and lifestyle buyers are increasingly opting for high-end apartments over large beachfront homes.

<a href="https://www.apartments.com.au/new-apartments/eade-byron-bay-29-shirley-street-byron-bay-nsw-2481">EADE Byron Bay</a> occupies a rare 6,000 sqm absolute beachfront site on the corner of Shirley and Milton Streets overlooking Main Beach and The Wreck surf break, just 350 metres from Byron Bay's town centre.

The 25-residence development is the first beachfront apartment project approved in Byron Bay in more than a decade and is currently under construction, with completion expected in May 2027.

[smartcode_project:default project_id=145590 project_image_fid=359521]

The project has attracted a mix of local Byron Shire residents downsizing from larger homes, alongside interstate buyers from Sydney, Melbourne and Brisbane seeking a permanent coastal lifestyle without compromising on space.

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a> and with interiors by <a href="https://www.apartments.com.au/interior-designers/alexander-co">Alexander &amp; Co</a>, EADE comprises&nbsp;10 garden apartments ranging from 284 sqm to 622 sqm, nine with private pools, five full-floor apartments and 10 rooftop residences with private plunge pools, expansive outdoor entertaining areas and uninterrupted ocean views.

[smartcode_project:default project_id=145590 project_image_fid=359527]

<a href="https://www.apartments.com.au/developers/vitale-property-group">Vitale Property Group</a> Managing Partner Chris Vitale said the project's combination of scale, location and limited future supply was driving buyer demand.

"There isn't another beachfront holding in Byron Bay of this size and position that could be developed again," Vitale said.

"Buyers are responding to the scarcity and the irreplaceability of a site of this calibre and to floorplans they can't find elsewhere in the market.

"We are seeing buyers place significant value on quality, space, design, resort-style amenities and the rarity of the location. The sales achieved to date demonstrate that discerning purchasers recognise the long-term significance of what is being created at EADE Byron Bay.

"Many are coming from larger homes in the Byron region, or from Sydney, Melbourne and Brisbane, and are after the space, security and convenience, without the upkeep of a house."

&nbsp;

[smartcode_project:default project_id=145590 project_image_fid=359523]

The Byron Bay project follows Vitale Property Group's delivery of the Mondrian Hotel and Private Residences at Burleigh Heads, with EADE continuing the developer's focus on luxury coastal developments.

Residents will have access to a resort-style swimming pool, gymnasium, sauna, cold plunge pool, concierge services and dedicated workspaces, while the project is targeting an 8-Star Green Star rating.

EADE Byron Bay is being exclusively marketed by Projx Australia in conjunction with WHITEFOX Projects.

WHITEFOX National Projects Director Phillip Rand said demand had been driven predominantly by owner-occupiers.

"We are seeing buyers at EADE place significant value on quality, space, design, resort-style amenities and the rarity of this location," Rand says.

"The sales achieved to date demonstrate that purchasers at this level recognise the long-term significance of what is being created at EADE Byron Bay."

Residences at EADE Byron Bay are currently priced between $4.75 million and $15.95 million.

&nbsp;

&nbsp;

&nbsp;

&nbsp;

&nbsp;

[smartcode_project_cta:default project_id=145590]

Cara Waters

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News