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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>.
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Justin North's restaurant group collapses

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

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

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

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

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

The Gold Coast economy has grown by 25 per cent since 2020/21 to surpass $55 billion, but perhaps the more significant story is what sits behind the headline number.

For decades, the Gold Coast has been viewed through the lens of tourism, lifestyle and population growth. The latest State of the City Report suggests that perception is increasingly out of step with reality.

Released by Invest Gold Coast, the report ranks the Gold Coast as Australia's largest non-capital city economy and, perhaps more notably, second nationally behind Sydney for Economic Complexity, a measure that assesses the diversity and sophistication of an economy.

It's a result that places the Gold Coast ahead of Melbourne, Brisbane, Perth and Adelaide, highlighting the extent to which the city's economic base has broadened beyond its traditional industries.

Today, the Gold Coast supports more than 350,000 jobs, is home to over 83,000 businesses and generates $19 billion in annual exports. Manufacturing now accounts for 62 per cent of international export growth, while sectors including health, education, advanced manufacturing, technology and professional services are becoming increasingly important contributors to the local economy.

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Gold Coast Mayor Tom Tate said the report confirmed the city's evolution into one of Australia's most significant economies.

"The Gold Coast economy continues to grow at an incredible pace. This is no surprise to those of us who have watched the evolution up close," Mayor Tate said.

"As one of the most entrepreneurial, investment driven and opportunity focused economies in the country our ambition has been realised and possibilities are endless.

"The Gold Coast has built a reputation as the city that says yes. We say yes to investment, yes to opportunity and yes to people who want to build something.

"It's this mindset helping us drive major growth across health, advanced manufacturing, screen production, marine, technology and the knowledge economy."

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While population growth has been one of the defining stories of the past decade, the report points to a broader economic transformation taking place.

The city's knowledge economy now contributes $7.9 billion annually and supports around 31,000 jobs, while the health and wellbeing sector contributes $5.2 billion and employs more than 42,000 people. Together, the six priority sectors identified in the report account for almost $24 billion in economic output and more than 145,000 jobs.

One of the strongest examples is the Gold Coast Health and Knowledge Precinct at Southport. The 200-hectare precinct now contains more than $5 billion worth of health, education, research and innovation infrastructure and supports over 16,000 jobs.

The report also highlights the growing role of advanced manufacturing, particularly in aerospace, defence and modular construction.

Gold Coast-based Gilmour Space Technologies recently became the first Australian commercial company to attempt an orbital launch, while companies including Modscape and ModnPods are helping establish the Yatala-Stapylton corridor as one of Australia's fastest-growing advanced manufacturing hubs.

The city's entrepreneurial culture is also translating into business growth.

Since 2019/20, the number of businesses operating on the Gold Coast has increased by 22 per cent, while firms employing more than 200 people have grown by 80 per cent. The report suggests the next challenge is converting more local start-ups and medium-sized businesses into nationally significant companies.

Development activity remains another key indicator of confidence.

There are currently more than $23 billion worth of major projects underway across the Gold Coast, supported by a record 75 active cranes, a figure that now exceeds Brisbane and represents a 150 per cent increase since 2016.

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Importantly, the report notes the next phase of investment will need to extend beyond residential development.

While 93 per cent of crane activity is currently tied to housing, Invest Gold Coast argues future investment will increasingly need to focus on cultural, civic, infrastructure and industry-enabling projects that strengthen the city's long-term economic resilience.

Invest Gold Coast Chair Will Hodgman said the city was now benefiting from years of economic diversification.

"What is happening on the Gold Coast is the result of the city's economic base broadening, fuelled by industries with long-term, high-growth potential," Mr Hodgman said.

"This is no longer a secondary Australian economy, the Gold Coast is becoming a globally connected city with deeper capability across health, knowledge and creative industries, advanced manufacturing, technology and exports."

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Looking ahead, the Gold Coast's population is projected to exceed one million residents by 2046.

For a city that was once largely defined by tourism and lifestyle, the latest figures suggest the Gold Coast is becoming something more significant, one of Australia's most diverse and economically sophisticated urban economies, and increasingly one that national and international investors can no longer afford to overlook.

Joel Robinson

75 cranes, $23 billion pipeline and a $55 billion economy: Inside the Gold Coast economic boom

Ron Bakir's Homecorp has sold more than 75 per cent of the apartments in its wellness-driven Florence Residences in Surfers Paradise following its first weekend release.

The <a href="https://www.apartments.com.au/new-apartments/florence-residences-24-monte-carlo-avenue-surfers-paradise-qld-4217">26-storey project on Monte Carlo Avenue</a>, which commenced construction earlier this year, has seen a flurry of buyers secure their slice of the Gold Coast's latest wellbeing-focused offering in one of the nation's most competitive property markets.

Since the pandemic, the Gold Coast's population has grown by more than 11 per cent, a rate approximately four times faster than Sydney's, driven largely by lifestyle changes and interstate migration. While buyer activity has moderated in some markets nationally, demand for newly built dwellings on the Gold Coast continues to gain momentum as purchasers increasingly prioritise lifestyle, amenity, wellbeing, liveability and long-term investment potential.

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Homecorp CEO Ron Bakir says buyers today are looking for more than just a home.

"What we are seeing is a shift in how people define value in property," Bakir says.

"What attracts residents to new developments is a desire for more than just a residence. They are looking for a place that complements their lifestyle, supports their wellbeing and reflects the way they want to live into the future.

"Lifestyle, longevity, proactive health, wellbeing, connection and a sense of community are increasingly shaping purchasing decisions, particularly on the Gold Coast, where these factors continue to be a major drawcard."

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Bakir says Homecorp is responding to this shift through an approach that places greater emphasis on design, amenity and experience working together to create places that feel considered, connected and enduring in value.

Inspired by Eastern European design, Florence Residences will comprise 120 apartments alongside a private residents-only wellness club featuring a resort-style rooftop pool, hot and cold plunge pools, a spa retreat, contemporary gymnasium, and a spacious yoga and Pilates studio.

The development will also feature a residents-only lounge with private dining facilities and a rooftop bar, premium outdoor entertaining areas, a hotel-style lobby lounge, generous bike parking, and pet-friendly amenities including a heated dog wash.

[smartcode_project:default project_id=150414 project_image_fid=372742]

A limited number of apartments remain available, with an exclusive collection of four-bedroom sub-penthouses set to be released in the coming months.

Florence is one of the latest additions to Homecorp's expanding multi-billion-dollar property portfolio, which also includes plans for a <a href="https://www.apartments.com.au/news/qld/homecorp-lodges-plans-for-260-million-moroccan-bathhouse-inspired-tower-in-budds-beach">$260 million development in Budds Beach</a> tailored to the growing wellness market.

A development application has been lodged for a 27-storey, 156-residence tower at 8–10 Acacia Avenue and 25–27 Oak Avenue, featuring a residents-only Moroccan spa-inspired sanctuary.

Apartments at Florence Residences are priced from $1,249,000, with construction expected to be completed by late 2027.

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Buyers rush to Homecorp's Florence Residences as Gold Coast wellness trend gains momentum

The NSW Government has expanded its $1 billion Pre-sale Finance Guarantee program, broadening access for affordable housing providers and smaller residential developments as it seeks to accelerate housing delivery across the state.

The Minns Government says the program has already helped bring forward more than 600 homes across Sydney and regional NSW since launching in September 2025, with similar models now adopted in South Australia and Western Australia.

The latest changes, announced by Treasurer Daniel Mookhey and Minister for Planning and Public Spaces Paul Scully, are designed to improve access to finance for projects that have planning approval but are struggling to secure funding.

Among the key changes is an expansion of support for community housing providers. The program will now support up to 100 per cent affordable housing projects valued at up to $30 million when delivered by not-for-profit providers, while support for larger affordable housing developments will increase for projects worth up to $80 million.

The government says the changes will help accelerate the delivery of housing for low-income workers, older people, people living with disability, and those at risk of homelessness, while reducing reliance on direct grants or subsidised loans to bridge funding gaps.

The eligibility criteria for smaller residential developments have also been broadened. The previous $5 million minimum project value threshold has been removed and replaced with a requirement that projects deliver at least four homes.

Support has also increased for projects delivering fewer than 20 homes, with the guarantee now able to cover up to 75 per cent of dwellings in a development, capped at $30 million per project.

The changes are expected to particularly benefit smaller-scale and regional developments, which often face greater challenges meeting pre-sale requirements imposed by lenders.

Treasurer Daniel Mookhey said the scheme demonstrates how government can use its balance sheet to stimulate housing supply without relying solely on taxpayer-funded grants.

"The Pre-sale Finance Guarantee shows how this Government is using its balance sheet to reduce risk and unlock private investment, enabling new homes to move from design to construction faster," Mookhey said.

"This landmark reform allows us to deliver homes for working families at a lower cost to taxpayers, while also maintaining strong financial discipline."

Planning Minister Paul Scully said the program had already proven effective in bringing stalled projects to market.

"The Pre-sale Finance Guarantee has already proven it can unlock stalled projects and accelerate housing delivery by giving lenders the confidence they need to back good developments," Scully said.

"These changes will allow more affordable housing and smaller developments to access support so more homes can be built faster where communities need them most."

Housing Minister Rose Jackson said the expansion would help community housing providers overcome financing barriers that often delay projects.

"We know community housing providers are ready to build more homes, too often they're held back by barriers to finance," Jackson said.

"Expanding the Pre-sale Finance Guarantee helps remove those barriers so more affordable homes can get off the ground sooner."

The announcement was welcomed by the Property Council of Australia, which has long advocated for measures aimed at improving project feasibility and access to finance.

Property Council NSW Executive Director Katie Stevenson described the expansion as a practical intervention that addresses one of the most immediate constraints on housing delivery.

"This is exactly the kind of practical intervention we need right now, focused on getting projects out of the ground, not just approved," Stevenson said.

"It builds on a model the Property Council has worked closely with government to develop following calls for such a scheme ahead of last year's NSW Budget, so it's great to see it being expanded."

Stevenson said the reforms would help unlock projects that are ready to proceed but have been delayed by financing challenges. However, she noted that broader feasibility issues remain a significant barrier to increasing housing supply.

"The biggest challenge in NSW housing today is delivery. Too many projects have planning approval but are simply not financially viable to proceed under current settings," she said.

Speaking at the Property Council's NSW Housing Summit, Housing Minister Rose Jackson acknowledged that feasibility and financing pressures continue to constrain housing delivery, while reaffirming the government's commitment to work with industry on solutions.

Stevenson said the government's recognition of those challenges was encouraging ahead of next week's state budget.

"It's positive to see the government clearly recognising that feasibility pressures are now a binding constraint on supply," she said.

"With the Budget just days away, the focus must be on backing delivery, making sure projects stack up, finance can flow, and more homes can move from approval to construction."

The expanded Pre-sale Finance Guarantee forms part of the NSW Government's broader housing agenda, which also includes planning reforms, the NSW Housing Pattern Book, and a series of rezonings intended to increase housing capacity across the state.

NSW expands Pre-sale Finance Guarantee to unlock more affordable and regional housing

Design-led developer-builder Lowe Living has unveiled its latest residential development, Jardin House, marking its first foray into Melbourne's blue-chip City of Boroondara.

Located a short walk from Camberwell Junction, <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House</a> has been designed to appeal to affluent local downsizers and established families seeking a low-maintenance alternative to the large homes that have long defined Camberwell and surrounding suburbs.

The project will comprise a collection of two and three-bedroom apartments ranging from 92 sqm to 280 sqm, alongside a limited number of penthouse residences featuring rooftop terraces spanning more than 100 sqm, with optional private pools.

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Lowe Living Co-Founder and Managing Director Tim Lowe said Camberwell represented a natural next step for the developer as it expands into some of Melbourne's most tightly held residential markets.

"Jardin House is an important project for our team as it marks the next evolution of our portfolio into different well-established blue-chip pockets of Melbourne," Lowe said.

"Camberwell, with its incredible walkability, family-led neighbourhood feel and superb access to education and transport, makes it a natural choice for us."

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Designed by Tristan Wong Architects, with interiors by Hecker Guthrie and landscaping by Acre, the development takes inspiration from the Art Deco architecture that remains a defining feature of many of Camberwell's established streets.

A curved facade, arched openings, textured brickwork and sculpted forms reference the suburb's architectural heritage, while extensive landscaping softens the building's presence and creates a strong connection to the surrounding tree-lined streetscape.

The project will be set behind a secure gated entrance, with residents arriving through landscaped gardens designed to create a transition between the public realm and private residences.

Inside, the residences feature natural stone and timber finishes, full-height glazing, Miele appliances and generous open-plan living areas designed for long-term owner occupation.

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While the apartments themselves have been designed to attract discerning owner-occupiers, it is the amenity offering that sets Jardin House apart from many other boutique projects currently launching across Melbourne.

The centrepiece is a 350 sqm private bathhouse curated in partnership with Aurora Spa &amp; Bathhouse founder Lyndall Mitchell.

The wellness precinct includes mineral pools, hydrotherapy experiences, a Himalayan salt room, sauna, steam room, cold plunge pools and dedicated relaxation spaces, creating what Lowe Living describes as a private wellness retreat exclusively for residents.

[smartcode_project:default project_id=146717 project_image_fid=372222]

The collaboration follows Lowe Living's recent partnership with Aurora at Maison Savoy in Brighton, although Jardin House is the first project to incorporate both indoor and outdoor wellness experiences.

Emma Lowe, Co-Founder and Managing Director of Lowe Living, said wellness was becoming an increasingly important consideration for apartment buyers.

"Collaborating with Lyndall Mitchell from Aurora Spa &amp; Bathhouse for a second time is an intentional nod to creating residences that are more than just homes, but a way to enrich the lives of our residents through wellness and longevity," Lowe said.

The amenity offering is complemented by a Technogym fitness studio, residents' lounge, private dining spaces and concierge services.

The launch comes as developers increasingly target Melbourne's established eastern suburbs, where rising land values, ageing housing stock and growing downsizer demand are creating opportunities for boutique apartment projects.

Lowe said the company expects significant generational wealth transfer across suburbs such as Camberwell in coming years, creating further demand for luxury apartment living.

"Camberwell is a blue-chip suburb where homes regularly transact for multiple millions of dollars," he said.

"The generational change of wealth in these locations expected in the coming years is significant, so we see an opportunity to create exclusive residences that appeal to older families and downsizers in order to meet this demand."

Apartments at Jardin house start from $1,195,000. The project forms part of Lowe Living's near-$1 billion portfolio of new developments across Melbourne.

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Lowe Living launches Jardin House in Camberwell

As <a href="https://www.apartments.com.au/developments/north-sydney-nsw-2060">North Sydney</a> continues its transition from a commercial centre into a more layered residential and lifestyle precinct, a new generation of apartment developments is reshaping expectations around scale, amenity, and long-term liveability.

Improved transport connections through the Victoria Cross Metro, continued investment in dining and public spaces, and a constrained supply of new luxury apartments have sharpened demand for homes that combine proximity to the CBD with the privacy and outlook traditionally associated with harbourside houses.

At 177 Walker Street, <a href="https://www.apartments.com.au/developers/aland">ALAND</a>’s new apartment development <a href="https://www.apartments.com.au/new-apartments/the-walden-north-sydney-177-walker-street-north-sydney-nsw-2060">The Walden</a> enters the market with a distinctly residential approach to high-rise living. The 30-level tower will deliver 161 residences, ranging from one-bedroom apartments through to sub-penthouses and a full-floor penthouse, all oriented to capture uninterrupted views across Sydney Harbour, the Opera House, and out toward the Pacific Ocean.

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Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, the project takes advantage of the site’s natural topography and elevated position above the harbour. Rather than relying on density alone, the architecture focuses on outlook, orientation, and spatial flow, with every apartment occupying a corner position to maximise natural light and cross ventilation.

Rothelowman says the site itself shaped much of the architectural response.

“The site has a long history in terms of its inevitable transformation and when we came in, we took inspiration from the idea of reestablishing a sense of the site’s natural terrain and fall. Our scheme aims to integrate with the terrain and the landscape, using the undulating site to slowly reveal glimpses and views of the harbour. The rotation of the tower off grid means every apartment has a view and is naturally cross ventilated. The building's colour palette is quintessentially Sydney, with bronze and sandstone and a luminescent green colour in the glass, making it very earthy and grounded in its location.”

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Inside the residences, the emphasis moves toward larger-format living typically associated with standalone homes. Kitchens sit at the centre of the apartments, connecting directly to open-plan dining and living areas before extending outward into expansive winter gardens and balconies. Calacatta marble, bespoke joinery, integrated appliances, and custom metal detailing are used throughout, while three distinct interior palettes, Terrace, Opera, and Harbour, allow buyers to personalise the spaces without compromising the architectural consistency of the project.

The larger residences place particular attention on separation between entertaining and private zones. In many apartments, master suites occupy the outer corners of the floorplates, allowing bedrooms to benefit from floor-to-ceiling glazing and harbour outlooks independent of the living spaces. Dressing rooms and ensuites continue the material palette through fluted detailing, freestanding baths, and layered stone finishes.

Rothelowman says the design intent centred on creating homes that feel enduring rather than transient.

“Our philosophy is all about the way people live in these spaces, and we wanted to create homes that reflect the quality of life in this unique Sydney location. The apartments showcase expansive living spaces that are generous, sophisticated, and bold, with the ability to connect with views throughout each apartment.”

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A separate four-storey amenity building known as The Pavilion expands the residential offering beyond the apartments themselves. Positioned alongside the tower, the building consolidates wellness, recreation, and social spaces into a dedicated resident retreat. Facilities include a 20-metre rooftop pool and sundeck, sauna, spa, ice bath, wellness studio, gymnasium, concierge service, wine cellar, residents’ lounge, private dining spaces, and dedicated co-working areas with meeting rooms and boardroom facilities.

The amenity mix reflects the buyer profile emerging in North Sydney, where owner-occupiers and downsizers are increasingly prioritising convenience, apartment scale, and long-term usability over purely investment-driven decisions.

The Walden also represents a significant milestone for ALAND, marking the company’s first major move into Sydney’s inner-city luxury apartment market after more than two decades delivering large-scale residential communities across Greater Sydney. Founder Andrew Hrsto says the Walker Street site stood apart because of both its positioning and its rarity.

[smartcode_project:default project_id=134323 project_image_fid=6390]

“As a company, we had been searching for a site in one of Sydney’s blue-chip locations, spanning the Eastern Suburbs, the Sydney CBD and the North Shore, and when we had the opportunity to purchase this site, we immediately recognised that it could be something iconic.”

At launch, The Walden recorded more than $103 million in sales, with buyers drawn to the project’s harbour positioning, apartment scale, and proximity to the Metro, which now connects North Sydney to Barangaroo in three minutes and Martin Place in five.

ALAND has commenced construction, and is expecting a completion date in 2028.

[smartcode_project_cta:default project_id=134323]

Cara Waters

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