<html><body>
{yoogallery src=[images//stories/august30aguilera]}
Singer Christina Aguilera has sold her Sunset Strip, Los Angeles home for <a href="https://www.propertyobserver.com.au/https://www.redfin.com/CA/Los-Angeles/1443-Devlin-Dr-90069/home/7121123" title="Christina Aguilera" target="_blank">about $4.65 million</a>.
The 1960s modern-style 604-square-metre post-and-beam house has a recording studio, screening room and walls of glass opening to a pool, a 12-person spa and a fireplace.
There are four bedrooms and seven bathrooms.
Aguilera, who sits among the world's best-selling recording artists with sales of more than 50 million records, bought the property in 2003 for $5 million. The Los Angeles Times reported Drew Fenton and Justin Paul Huchel of Hilton &amp; Hyland, Beverly Hills, were the listing agents and Peter Lavin of Links Commercial Real Estate represented the buyer.
</body></html>

jchancellor-FAypfDUnLy

Christina Aguilera loses almost $400,000 selling her house

<html><body>
Buying one of Morry Schwartz's 77 Falls Creek apartments, which sold for between $30,000 and $410,000 at the weekend's no-reserve auction, was the easy part.
Selling them down the track might be the challenge.
And not just because of the seasonality of the snow, the emerging climate change issues and the international competition for the snow dollar.
The sheer volume of the weekend offering will play havoc with the distant ski market destination’s property market for years to come, as it was at least three seasons’ worth of stock.
There's also the encroaching diminution of the apartments being on 40- to 50-year leaseholds.
To say nothing about the weekend’s realised prices being well below previous sale and or recent asking prices.
However following a $12.5 million sellout, Morry Schwartz expressed his satisfaction.
<img src="/images/stories/morryschwartz.jpg">
Minutes before the auction, Schwartz (pictured above waiting for bidders to arrive) had been telling friends there would be "pandemonium" given his innovative use of the Helmsman auction method, which is more typically for rowdy lifestock sales.
"We won't go out with a whimper," he suggested.
After a lengthy two hours 21 minutes the auction did almost fade away, but Mark Williams from Ray White Commercial, who was overseeing the auction, notes they extracted every possible bid that was within room, or on the phone.
Williams says there were been 20,000 visitors to the sale's designated website, with 1,200 interested parties who then made email contact with him and the conjunctional agent RT Edgar Alpine agent Christa Zirknitzer.
There were about 350 people at the auction, with some 300 registrations.
Pre-auction interest came from well-known Melbourne names, some long associated with the snow, that included Norbury, Ivany, Newton-Brown, Lasky, Marriner and Cellante. But many of the buyers were locals from northeastern Victorian.
The three properties developed over five years by Zacamoco, a joint venture founded in 2004 between Schwartz’s Pan Urban and Schwartz's son-in-law architect, Callum Fraser of Elenberg Fraser architects, had added 100-plus apartments to Falls Creek’s 4,500 beds.
Season 2011 asking prices from other vendors in the same complexes on the mountain would have suggested price outcomes of $85,000 to $700,000 at best.
Schwartz denies a report by The Age that Schwartz expected prices between $100,000 and $1 million.  But he was quoted as acknowledging he expected discounting: “But I don't think it will be dramatic,'' Schwartz adds.
The auction’s top sale was $410,000 for a 157-square-metre three-bedroom, three-bathroom St Falls West apartment, W102. Between June 2010 and May 2011, its income was $32,000 and its outgoings were $42,000. The cheapest St Falls West unit was $110,000 for a 64-square-metre one-bedroom, one-bathroom unit, which had a recent $36,000 income with $26,000 in outgoings.
Some 40 of the St Falls East and St Falls West block came with strict bidder registration requirements given they were in the managed pool.
Bidders were required to have annual $250,000 incomes or $2.5 million in net assets given they are being offered under an unregistered management investment scheme operated pursuant to Australian Securities and Investment Commission instrument 11-0572.
Those 80 pre-approved bidders were the well-dressed cashmere cardigan camp.
At the other end of the auction room was the snowboarding contingent, prepared to bunk it during the season.
The overall cheapest buy was $30,000 for a 13.5-square-metre unit in the Silverski complex. Silverski's lot 105 had $11,500 annual income and $9,300 outgoings.
Some 23 of the listings at the resort – which lies between an altitude of 1,210 and 1,830 metres – attracted at least 18 bids, with the most sought-after getting 35 bids.
There were also four commercial offerings.
The 235-square-metre restaurant fetched $150,000.
The 322-square-metre ski hire premises fetched $270,000, having been rented at about $32,800 gross per annum.
The 67-square-metre Huski food outlet fetched $125,000.
The 150-square-metre three-apartment Narrailla lodge with 60-square-metre basement fetched $270,000.
Many of the buyers were planning their next 345-kilometre trip from Melbourne next weekend, given it’s been the best snow fall in 30 years.
Most buyers no doubt had the cash, and therefore won't run into the hurdles of bank valuations and financing of National Park Crown land leasehold purchases, let alone within the new calibrated pricing scenario.
But buyers were given the names of six bankers with alpine transaction experience: ANZ Wodonga banker Kevin Wescott; Bendigo &amp; Adelaide Bank Albury banker Michael Monaghan, Bendigo &amp; Adelaide Bank Shepparton banker Jim Guilline; St George Bank Shepparton banker Keith Rae; National Australia Bank Richmond banker Scott Ewan and Bendigo Bank Private banker Nerida Killender.
Of course following the 60-day settlement there will be not much income until next July, given the apartments sit mostly idle, with year-round tourism still to really come to fruition.
The official snow season for 2011 began on the Victorian Queen’s Birthday long weekend June 13 and lasts until Sunday, October 2.
</body></html>

Falls Creek snow bargains for the brave, beautiful and blinkered

<html><body>
The Boston-based international real estate advisor Pembroke Real Estate, on behalf of an affiliate, has bought 20 Martin Place, Sydney from the ANZ Bank reputedly for about $95 million. Some 19 offers were received for the office block, which has been owned by ANZ since its 1973 completion.
Located in Sydney’s CBD core, the property features 21 floors of offices and prime retail.
Pembroke, which joins the growing long list of foreign buyers of prime CBD office blocks undeterred by the strong Australian dollar, invests the private capital of FMR LLC (Fidelity Investments) and FIL Ltd (Fidelity International) in long-term opportunities in markets typically focused on Europe, Japan and the United States.
Offering a substantial refurbishment opportunity, 20 Martin Place is the first acquisition in Australia for Pembroke and its affiliates. The purchase highlights the trend towards buying assets that offer development potential – that is core-plus categories, where tenants are leaving and the site is earmarked for upgrade.
It will be refurbished by Pembroke following ANZ’s relocation in 2013 ANZ Tower at 242 Pitt Street, developed by Grocon. It is to be leased to ANZ until June 30, 2013 with options, providing initial net rental income of $8.5 million per annum.
ANZ has agreed to take a long-term lease over new banking chambers in the proposed Martin Place project.
It was sold through CBRE agents Rob Sewell and Josh Cullen in conjunction with Jones Lang LaSalle, represented by John Talbot and Rob Harris.
Both ANZ and Pembroke have agreed not to officially disclose the purchase price.
Offers were due June 8, with Pembrooke pinpointed as its likely buyer on July 6 in the Australian Financial Review.
“Domestic superannuation funds and trusts were all in a very competitive bidding process alongside local and offshore core plus funds,” Sewell notes.
Talbot suggests the sale reinforced the near domination of offshore buyers in the current cycle, with virtually all the recent transactions recorded in the Sydney CBD sold to offshore investors, both institutional and private.
It has 15,542 square metres of office and retail accommodation.
“We look forward to opening a new retail bank branch at this key location post refurbishment,” Kate Langan, ANZ Group general manager of property, says.
It was valued at $70 million in 2002.
In 2009 ANZ Bank confirmed it would relocate its NSW head office to a new premium-grade 43-floor office building, having outgrown its NSW head office at 20 Martin Place.
ANZ negotiated exclusive naming and signage rights on the building and 22,000 square metres of the total office floor space, or about half of Grocon’s $800 million tower at 242 Pitt Street, where GPT Group and LaSalle are also stakeholders.
The 20 Martin Place office will the escape the wrecker’s ball, but will be stripped back to its steel core and then rebuilt to a five-star green rating.
</body></html>

Overseas investors buy ANZ Sydney headquarters for refurbishment

<html><body>
<img src="/images/stories/danwhite2.jpg">
<img style="float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">Dan White, the great-grandson of the founder of the Ray White real estate empire, and his wife, Sam, are selling their abode set high above Tamarama beach in Sydney (pictured above and below). With bespoke, imported finishes throughout, the house has large living areas that flow out to an entertainment terrace with beach and ocean views.
<img src="/images/stories/danwhite.jpg" style="border-style: initial; border-color: initial;">
The house, sits in William Dangar-designed gardens with courtyard and lap pool. The four-bedroom, four-bathroom residence has been scheduled for September 21 twilight auction through Ray White Double Bay agents Elliott Placks and James Keenan. Presumably they are aiming for $7 million plus result given Marco Rossi, the brother of the motorcycle racer Valentino Rossi, bought his nearby Thompson Street residence for $11 million in 2008.
<img src="/images/stories/hale.jpg">
<img style="float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">Hawthown player David Hale has sold his Kensington townhouse (pictured above) at a reported $737,000 through Rendina Real Estate agent Charles Bongiovanni. The two-storey, three-bedroom property, which comes with a central courtyard and garage, had been tipped to fetch more than $700,000 for the Hales, who are wanting to upsize as they have a baby girl.
<img src="/images/stories/balmoral1.jpg">
<img style="float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">Software entrepreneur Simon Clausen, who debuted on the 2009 BRW Rich List with a $180 million fortune after selling his software company, has abandoned construction plans for an expansive three-level Balmoral Slopes, Mosman, residence. Two vacant blocks have now been listed for sale (pictured above and below).
<img style="border-style: initial; border-color: initial;" src="/images/stories/balmoral3.jpg">
It continues a marked reversal in intent for the high-flyer, who until late 2009 was on a spending spree of Sydney property. His 17 acquisitions totalled $60 million over just three years. His recent sell down of a couple of properties includes a Balmain house that was bought for $1.66 million in 2008 and sold at recent Cobden and Hayson auction at $1.91 million.
The 2,560-square-metre vacant Balmoral Slopes holding now listed through McGrath agent Nigel Mukhi cost $19 million in 2008 and 2009. It included a since demolished new home that was offloaded by developer Albert Bertini, onetime star of The Secret Millioniare.
Clausen retains the neighbouring $12 million heritage-listed house, which is not listed for sale, and which has reputedly been leased to one of Sydney's bigtime gamblers. The vacant hillside Arbutus Street holding has approved architect plans for a stunning 10-bedroom home with 10-car garage and swimming pool in Peter Fudge-designed gardens. The BJP Architects-designed house with a gross floor area of 940 square metres, which got approval in May last year, had an estimated $7.5 million completion cost.
His first purchase was a $1.35 million Balmain terrace in 2004 with his wife, Alexandra. On Sydney's Pittwater, the Clausens’ Clareville architect-designed weekender – featuring glass, copper, sandstone and timber – is nearing completion after the couple paid $2.7 million for the property in 2009. BJP has done an $800,000 project at Clareville. Clausen debuted on the BRW Rich List with a $180 million fortune in 2009, after selling out of PC Tools, the company he co-founded in 1998, but didn't make the list's $185 million cut-off the next year. It is understood that the Clausen family are now spending more time in Europe following changed extended family circumstances.
<img src="/images/stories/markread.jpg">
<img style="float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">A year on and bookmaker Mark Read has yet to sell his surplus acreage at Cooroy Mountain in Queensland (pictured above). Read had once run his business out of the Cooroy Mountain property but now resides in Victoria, after moving his stable of racehorses to a property in the Yarra Valley. The 44-hectare cattle stud, known as Beauty Falls, sits in the Noosa hinterland. For horse lovers, it has an Olympic dressage arena, 18 seven-metre stables with four full-size horse boxes, separate tack room, wash bay and a 75-sqare-metre holding yard and water. The 10-year-old, double-story Queenslander residence has 1,340 square metres of space. It is for sale through Unique Estates agent Nicolette van Wijngaarden at $4,875,000.
<img style="float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">Title Tattle aims to tell you as soon as it’s known - and sometimes before – so the word from the NSW Southern Highlands is that John Hewson – yes, the onetime prime ministerial aspirant – has become a serious property player in the rural district. He of course has long loved the place, having first bought back in 1977. His home has since 2004 has been Invergowrie, the Tudor-style Exeter estate built in the 1930s for the BHP industrialist Sir Cecil Hoskins in Paul Sorenson gardens.
His latest property foray involves the nearby Mittabah, one of the Southern Highlands’ great estates. The property, also at Exeter, has been sold for $9 million by the Vertzayias family to a syndicate headed by Hewson along with Karl Martin-Weber and Michael McPhee as its three directors. There are three companies as shareholders of the overarching Mittabah Holdings Pty Ltd company:  Bangaline Pty Ltd, Keber Investments and Mix Investments, with all three being defined as non-beneficial entities.
Mittabah was previously sold in 2005 through Drew Lindsay Real Estate for $8.65 million by the Scottish-born businessman Sir Arthur Weller and Lady (Marea) Weller. Intriguingly, two of the syndicate, Hewson and McPhee, along with Mosmanite William King, have also turned up as directors of the company that has spent $8.5 million buying the Vertzayias family's Globe Projects Wongabri retirement village development site at Burradoo. And apparently some the syndicate have even got involved in Globe Project's Bundeena property, the redevelopment of the former Uniting Church property.
<img style="float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">And don't say that Title Tattle told you, but the Packer family has being shuffling some paperwork at their Bellevue Hill compound, Cairnton. They have transferred the estate at a $43 million value from Consolidated Press Holdings Pty Ltd into the more familial Cairnton Pty Ltd.  Cairnton is the name of the long-time home of tycoon James Packer's mother, Ros. The Packers hold about 11,000 square metres atop Bellevue Hill, the result of nine acquisitions since the original purchase in 1935 by James's late grandfather, Sir Frank. The initial one-acre cost £7,500, with Sir Frank making five other purchases costing £28,000.  In a classic case of like father, like son, Kerry added four more that cost about $9 million.
I've never been inside but recall the chilly night I spent outside. It was 24 years ago this weekend when the Krug champagne flowed for the 21st birthday party of Ros and Kerry's only daughter, Gretel, who poured into a spectacular red-and-black spotted outfit. All the 1987 guests left richer when they were given mementoes – gold medallion necklaces for the ladies, gold cufflinks for the gents. Kerry's daughter was wearing her gift – a $290,000 Cartier diamond choker and earrings. flown in the week before from Hong Kong. At midnight, when the then psuedo Cleo journalist turned 21, Dire Straits' Money For Nothing was spinning on the turntable of MTV's video jockey, Richard Wilkins, in the ballroom marquee. Having dined on the Peter Rowland-catered Tasmanian smoked salmon, beef, Peking duck, the Liberal Party war horse Sir John and Lady (Susan) Atwill were among the first to depart. Around 1.30 am Sir Peter Abeles drove his wife Kitty home to Vaucluse. Bob and Hazel Hawke stayed until 1.30 am, with Kerry waiting on the then Prime Minister when he wanted a mineral water. The Bulletin columnist David McNicoll drove his Sigma home around 2.20 am. It was well after 3 am before the Breretons – Laurie and his sequinned wife Trish –got home to Kensington. About 50 revellers appeared keen on staying for breakfast. And I filed something for the Fairfax press.
<img style="float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">One person who possibly skipped the Packer party was the colourful bookmaker and car dealer Harry Barrett, who died earlier this month. He was among the last of the colourful bookmakers, and in the early 1990s, he had an annual turnover of about $200 million, bolstered by the combative Kerry Packer's passion for the punt. Barrett briefly enjoyed the property limelight when he paid $6.1 million for Altona through W. J. Bridges Real Estate in 1991. He thought he got a good buy, and his wife, Pat, jestingly thought he was off his trolley. Within a year the Barretts decided to stay at the Strathfield house they'd bought 17 years earlier for $112,000 and Altona was sold to Matt Handbury and his wife, Fiona. Rival bookmaker Mark Read once accused Barrett of wearing the same tie for 20 years. But as Fairfax Media racing writer doyen Max Presnell recently recalled Barrett countered: "I've only got one neck".
</body></html>

Packers shuffle the paperwork, John Hewson a major property player: Title Tattle

<html><body>
Developer and publisher Morry Schwartz is selling all 77 of his Falls Creek apartments within the Huski, Silverski and St Falls complexes this weekend.
It is the biggest single auction of alpine property the country has seen.
It’s been billed as a no-reserve auction, although technically the bidding starts at $10,000and initial bidding will proceed in $10,000 bids from there, until otherwise decided by the auctioneer.
The offerings range from bunk studios that typically sell for $85,000 to a three-apartment-in-one-line virtual lodge.
They are offered through Ray White Commercial in conjunction with RT Edgar Alpine.
But some of the most expensive offerings in the St Falls East and St Falls West block also come with strict bidding requirements.
Any bidder for the 40 of the luxury apartments that are in the managed pool within the drive in-drive-out St Falls complex must prove that they have annual $250,000 income or $2.5 million in net assets given they are being offered under an unregistered management investment scheme operated pursuant to Australian Securities and Investment Commission instrument 11-0572.
The letter to prospective purchasers also says participation in the St Falls management scheme could be limited to people who have paid more than $500,000 for their unit, although Schwartz has indicated that sales will proceed possibly at less than this given there is no reserve.
There are 13 units that are not within the management pool and therefore don’t need to match any regulatory requirement.
The properties, developed by Zacamoco, a joint venture founded in 2004 between Schwartz’s Pan Urban and Schwartz's son-in-law architect, Callum Fraser of Elenberg Fraser architects, will be sold individually via the Helmsman Auction method, more commonly used for livestock.
St Falls was one of three Saints’ properties underway in the Victorian Alpine region, but St Buller in Mount Buller and St Hotham in Mount Hotham never got further than the drawing board.
The apartments and three retail spaces are set for Sunday August 28 auction.
"It's not a fire sale," Schwartz recently told The Australian.
"It's a proper and pure no-reserve auction. With these sorts of auctions, if you get enough people in the room, you'll get a market price.
"That doesn't mean that some people won't get a bargain."
“Playing a key role in the development of Falls Creek as one of the country’s leading snow destinations has been a rewarding experience,” says Schwartz, who is perhaps not as welcome now on the mountain given his decision floods the market with an estimated three years’ worth of listings.
“I’m immensely proud of the three projects we have created with Zacamoco, which have elevated Australia’s alpine accommodation and facilities to be on a par with the finest ski resorts anywhere in the world,” Schwartz says.
“Now however, my focus is on the boutique property markets in Melbourne and potentially Sydney. So, even though Falls Creek is enjoying the best snow season in years, it’s time for me to move on.”
“We would expect keen interest in any property developed jointly by Pan Urban and Elenberg Fraser,” says Mark Williams from Ray White Commercial, who will be overseeing the auction. He says the interest has been enormous.
 
<hr class="system-pagebreak">
 
HUSKI
Huski was Zacamoco's first Falls Creek project, which turned a rundown apartment block into the recipient of Wallpaper magazine's 2006 best ski resort in the world award. There are 14 apartments in the $25 million project, with its design inspired by the geometry of a snowflake. The upcoming offering is three studios apartments, one three-bedroom apartment and a retail premises
Schwartz's offerings include lot number 102, a studio of 33 square  metres,  has had a recent annual $34,000 gross rental, with outgoings of $25,000 leaving a net income of $8,349.19. Studio 104 had a $7500 after net income of $26,000 gross outgoings and a gross income of $33,000. Studio 202 had a $6300 net income after outgoings of $23,000 and $30,000 gross income. Huski 2A has recently reported $18,000 annual gross income and outgoings of $38,000.
There are other listings by other vendors at the moment. They include the three-bedroom, two bathroom 201 Huski apartment has been recently listed through RT Edgar at $649,000. RT Edgar recently sold a one-bedroom 203 Huski unit under mortgagee instructions. Huski 301 is listed at $575,000, having grossed over $75,000 in 2009 holiday bookings. The unit 301 was a sub-penthouse with two bedrooms, two bathrooms with an extra third mezzanine-style bedroom. A Huski studio apartment has a $190,000 asking price through RT Edgar. It configures two to four people with a split queen bed and a fold-out sofa bed and was approximately 33 square metres.
Huski 304, which is two-bedrooms, two-bathrooms is for sale at $620,000. There’s a $649,000 asking price on Huski 205, which features a master bedroom with ensuite, plus a double bedroom, and a bunk room that sleeps four that is listed through Falls Creek Real Estate Bright agent Ted Weeks. There are retail premises available for sale. Pursuant to clause 3.2 of the Management Agreement, the purchasers can reserve the apartment for their own use either for specific weeks, or for an extended period.
SILVERSKI
 The $10 million refurbishment at Silverski, a 38-room boutique hotel featuring five penthouse apartments, includes the award-winning Japanese restaurant Oshii.  There  are 28 apartments listed by Schwartz in Silveski, with 20 studios and three one-bedrooms, two two-bedrooms and three three-bedroom apartments.
Other vendors' listings include Silverski 207, a bunkbed studio unit, is listed through RT Edgar at $92,500. Silverski 208 is for sale at $100,000. Silverski 209 is listed at $85,000.
ST FALLS
There will be eight one-bedroom, 19 two- bedroom and 14 three-bedroom apartments offered for sale in St Falls, the $65 million 63-apartment project now managed by Mirvac Hotels and Resorts under its five-star Quay West brand. But to bid for St Falls apartments prospective purchasers must meet pre-qualification requirements under the managed investment scheme guidelines.
It took its architectural inspiration from the Bogong Moth of local Dreamtime legend. It is Australia’s only drive-in, drive-out, ski-in, ski-out, five-star alpine resort and spa. It partially opened in June 2009 and completely by the 2010 snow season. A three-bedroom, two-bathroom apartment E504 has been recently for sale at $577,000 through RT Edgar Alpine. Unit 502, a two-bedroom, two-bathroom unit has been listed at $610,000 by a private vendor. Unit St Falls 407, which is three-bedroom two-bathroom apartment in the east wing, has a $695,000 asking price, also through a private vendor. The three-bedroom, two-bathroom apartments range in size from 90 square metres to 113 square metres, all with balconies from nine square metres to 23 square metres with views down the valley. Its two-bedroom, two-bathroom apartments range in size from 75 square metres to 92 square metres all with balconies from 15 square metres to 88 square metres. The one-bedroom apartments are typically 56 square metres with a 14-square-metre balcony.
St Falls fronts the Bogong High Plains Road on one side and the foot of the Falls Express quad chairlift and Wombat's Ramble ski run on the other. With features including a Turkish-style hammam, lead architect Callum Fraser visited 60 alpine resorts from Aspen and Whistler in North America to the Swiss and Austrian Alps to study what made them so attractive. The luxury apartments available for sale in the St Falls West building were released in March 2007 when limited apartments remained available for sale in the St Falls East building. The 2007 sales agents were Rob Moore and Ted Weekes and Christa Zirknitzer at RT Edgar Alpine.
NAARILLA
There are three two-bedroom,  one-bathroom apartments are available for sale in the five-apartment complex of Naarilla. Originally the Naarilla building was used as accommodation for the Snowy Mountain Scheme before the building was relocated to Slalom Street in Falls Creek. These three apartments are being sold in one line. The total outgoings for all three was $33,844.
“We would expect keen interest in any property developed jointly by Pan Urban and Elenberg Fraser,” says Mark Williams from Ray White Commercial, who will be overseeing the auction. 
“The nature of the Helmsman Auction allows bids to be submitted for multiple properties simultaneously and also opens up the possibility for investors to purchase multiple adjoining apartments or the entire portfolio if desired,” Williams suggests.
The auction takes place at 11am on in the Promenade Room at Crown Casino in Melbourne. There will be a 60-day settlement period for all properties sold.
</body></html>

Developer releases avalanche of ski properties for weekend auction

<html><body>
The slowing property market conditions along with increased costs of moving are triggered a big jump in stay-putters.
RP Data says the typical hold property period has jumped from 6.8 years to 8.6 years over the past decade.
Melbourne and Sydney home owners tend to remain in their homes the longest, according to RP Data research analyst Cameron Kusher.
"This is likely due to higher purchase prices of homes which then results in higher transaction costs," Kusher says.
But the cheaper capital cities including Darwin, Adelaide and Hobart now tend to sell homes on a more frequent basis.
<img src="/images/stories/holdperiod.gif">
Monash in southeast Melbourne has the longest average hold period among the sellers of last year, at 12.6 years.
The mining region of Port Hedland in northwest Western Australia had the nation's shortest average hold period over the past year at just 4.7 years.
"Mining regions feature heavily in the list of regions with the shortest average hold period," Kusher says.
The longer period of time between sales was also a growing phenomenon with units.
Ten years ago, the average Australian unit was selling after an average of 6.1 years, and now it is 7.5 years, Kusher says.
RP Data calculates the average hold period as the average time frame between actual residential property sales, therefore excluding those who continue to hold.
</body></html>

Slowing market convincing home owners to stay put

<html><body>
Receivers have appointed CB Richard Ellis to sell Updown Court in Surrey, once tipped to be the UK's most expensive house.
They will now try to sell the 103-room Windlesham mansion some nine years after Irish Nationwide took a charge on the property.
The building society lent £63 million to the project over several years as joint venture partners.
Irish Nationwide once held a board meeting there.
Apart from the five swimming pools, the property also has a bowling alley, a cinema and an indoor squash court.
It failed to sell in 2005 for a price tag of £70 million.
The London papers suggest the house's developer, Leslie Allen-Vercoe, was not personally liable for any of the debts.
Allen-Vercoe has suggested NAMA decided to appoint a receiver, it would be against the interests of Irish taxpayers as stamp-duty tax advantages could be lost.
The Irish National Asset Management Agency appointed Tim Perkin of CB Richard Ellis as lead LPA receiver, according to Property Week.
The house was redeveloped in 2002 by a joint venture between Allen-Vercoe and Irish Nationwide Bank, which has now been nationalised and its loans transferred to NAMA.
It has been suggested because of the discount applied to loans when they are transferred to NAMA, the house was likely to be put up for sale for significantly less than the initial asking price.
<a target="_blank" title="UK's most expensive house sells for 140 million9" href="https://www.propertyobserver.com.au/news/uk-s-most-expensive-home-rumoured-to-have-sold-for-%C2%A3140-million/2011081451149">The current most expensive property in the UK is rumoured to have sold for £140 million.</a>
</body></html>

Updown Court, once UK's most expensive house, for sale

<html><body>
Home alterations and additions have escaped the fiscal consumer tightening, with a 4.5% annual jump in spending during the June quarter.
With an Easter and onwards fillip in alteration work around the home, some $1.72 billion was spent during the June quarter.
It was the highest June quarter outlay since 2008.
With spring in the air, and in the lead up to Christmas, the December quarter has always rated as the busiest quarter since ABS records began in 1987.
The only exception was in 2000 when – with the GST looming – the June quarter topped that year's quarterly outlay with $1.64 billion on alterations and additions.
In the 2010-11 financial year Australians spent $6.8 billion on alterations and additions.
It was $6.52 billion in 2009-10 and $6.64 billion in 2008-09.
The details were in the ABS preliminary statistics for the value of work done in Australia during the June quarter.
</body></html>

Spike in renos undeterred by property gloom

<html><body>
Auction volumes have being falling away during the past four weeks, according to RP Data.
“We have recorded 4,607 auctions across Australia’s capitals compared with 5,245 auctions over the same period last year,” RP Data research director Tim Lawless says.
“With the housing market in the doldrums and only half of the auctions being held clearing, it is logical to assume that fewer vendors are selling their home via an auction campaign.
“Based on rough calculations, around 24% of homes being sold in June were taken to auction while during the same period one year prior the figure was up around 30%,” Lawless notes.
He says that auction clearance rates across the major capital cities have held fairly steady around the 50% mark since late last year.
During the height of the market back in 2009, as many as 80% of auctions were clearing.
“That was just before the first interest rate rise was announced, and from that time clearance rates trended downwards in line with the market slow down,” he says.
<img src="/images/stories/rpdataaugust251.jpg">
“During the GFC clearance rates fell as low as 42% across the combined capital cities, so the auction results being recorded currently aren’t far off that mark.
“The lowest clearance rate recorded during the year so far has been 43% in late April.
“The key to a successful auction in this depressed market comes back to ensuring an appropriate marketing campaign is in place and the reserve price is set realistically,” he suggests.
<img src="/images/stories/rpdataaugust252.jpg">
</body></html>

Auction volumes significantly down: RP Data

<html><body>
Upmarket London developer Nick Candy met executives from US private equity giant Blackstone Group, owner of Goldfields House redevelopment site, on his recent trip to Australia.
The coveted 25-storey Sydney property overlooking Circular Quay has some of the best views in town and has been mooted for a luxury residential redevelopment for the past few years.
It has been suggested that Candy brothers Nick and Christian might see the coveted harbourfront site as their envisaged first Australian project.
Blackstone now has control of its future following the exit of Valad. The 1966 office block's most recent valuation was $290 million.
A Candy spokesperson has confirmed that he met Blackstone executives, but would not comment on "specific deals" when asked by The Australian.
The brothers are known for One Hyde Park, the world's glitziest apartment blocks in the well-heeled London suburb of Knightsbridge.
Prices for the 86 apartments start from £6.75 million ($10.6m) for a one-bedroom flat.
Its penthouse set a record, selling £136 million in April.
It was a joint venture between Christian Candy's Guernsey-based CPC Group and Waterknights, owned by Qatari Prime Minister Sheikh Hamad bin Jassim bin Jabr Al Thani.
Nick Candy came to Australia recently with his partner, the Australian actress Holly Valance.
"We would love to do the One Hyde Park in Sydney," Nick Candy said last month.
"We bring development management expertise, understanding how to build for the super wealthy.
"But we would want to have a local partner because of the planning laws and construction."
Previously local developers including Grocon, Lang Walker, Mirvac and Lend Lease have expressed interest in the site.
Blackstone awaits development approval from the Sydney City Council for two residential towers with about 40,000 square metres of residential space.
Valad bought the site in 2006 for $274 million and sold a 40% stake to the Dutch pension fund APG in 2008.
In May, when Blackstone’s takeover offer was mooted, Valad said that the Sydney Local Environment Plan 2005 (Amendment No. 2), which was previously approved by the Sydney City Council, had been gazetted by the government.
''This enables Valad to pursue development approval for the redevelopment of Goldfields House,'' Valad's then acting chief executive Clem Salwin said.
 
</body></html>

Luxe London developer Nick Candy might see Goldfields House as a sweet possibility

ASX-listed developer <a href="https://www.apartments.com.au/developers/stockland">Stockland</a>&nbsp;is continuing its push back into the new apartment market, filing plans for a prominent gateway site between Collingwood and East Melbourne.

The development giant, which moved back into the new apartment space when it announced Stanton Place in Sydney's Rosebery and have since filed plans for a 50-storey tower, are jumping into the off the plan Melbourne market.

They are hoping to create a mixed-use neighbourhood precinct for <a href="https://www.apartments.com.au/new-apartments/79-81-victoria-parade-collingwood-vic-3066">79-81 Victoria Parade</a>, replacing an existing commercial building with a scheme by <a href="https://www.apartments.com.au/architects/john-wardle-architects">Wardle</a>&nbsp;for 478 apartments,&nbsp;ground-floor retail, new public open spaces and a publicly accessible pedestrian laneway.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="72dbbca9-3918-4073-afad-a0c0c35be8e7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20pers.png?VersionId=bzMVUKKxvwuNK1m0v_td126Rgct32uk_" />

The design report identifies the public realm as a central driver of the proposal.

"Collingwood has limited access to high-quality parks and public open space, and the proposal delivers valuable new areas for respite, social interaction and fine-grain retail activity."

The development would deliver a diverse mix of housing, including studio, one, two and three-bedroom apartments alongside townhouse-style residences. Two basement levels are proposed beneath the development, providing resident and retail parking as well as extensive bicycle facilities.

Wardle's design draws heavily on Collingwood's industrial character, using articulated building forms, brickwork and robust materials inspired by the suburb's warehouse and manufacturing heritage. The built form has been broken into a series of smaller volumes to better respond to the surrounding streetscape while extensive communal gardens, rooftop amenities and shared resident spaces are integrated throughout the project.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="7b2135ed-65df-4253-ad53-f216f06bd467" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20podium.png?VersionId=l1B6Hqn8zs772VxH6L1fDPg0KHshan9v" />

The planning documents describe the existing office building as offering little engagement with the public realm, with the redevelopment intended to create a more permeable and active neighbourhood destination.

"The proposed scheme presents a significant opportunity to deliver a vibrant retail plaza and a local neighbourhood hub serving both existing and future Collingwood residents."

The 79–81 Victoria Parade site occupies a strategic location about 1.5 kilometres east of Melbourne's CBD, at the threshold between Collingwood and East Melbourne. It is well served by tram services along Victoria Parade and sits within walking distance of St Vincent's Hospital, Fitzroy Gardens, the Fitzroy activity centre and a broad range of employment, retail and hospitality destinations.

Joel Robinson

Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site

An 1880s timber cottage that has survived Kangaroo Point's transformation from riverside suburb to high-density apartment precinct is set to become the centrepiece of <a href="https://www.apartments.com.au/developers/zephyr">Zephyr Group</a>'s proposed Banksia development.

Rather than see the locally heritage-listed Alpha Cottage as an obstacle to navigate, plans integrate the landmark home into a new 18-storey residential tower, giving one of the suburb's oldest surviving residences a new role as the project's communal hub.

The development application covers a 1,177 sqm amalgamated site at 127-133 Lambert Street and 30 Shafston Avenue, where Zephyr Group plans to deliver 64 apartments above three basement levels. Designed by <a href="https://www.apartments.com.au/architects/joe-adsett-architects">Joe Adsett Architects</a>, the proposal carefully weaves the retained heritage cottage into a contemporary residential scheme, with the tower elevated above the historic building to preserve its presence within the Lambert Street streetscape.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="f9dc5bdb-d691-4c60-bf2b-c3ed405a3e75" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Banksia.png?VersionId=Jh4bjlewU.o8HXWt0V4KaFA_lPcF7KWM" />

Named after the native Australian Banksia flower, the project draws inspiration from its distinctive form through curved balconies, sculpted planter boxes and cascading subtropical landscaping that soften the building's profile.

As the design report explains: "The tower's identity is defined by its feature facade, drawing direct inspiration from the Banksia wildflower. The building departs from traditional rigidity through the use of elegant, GRC-moulded planter boxes that appear as if shaped by the breeze."

Plans propose 64 apartments, comprising 32 two-bedroom and 32 three-bedroom residences, across an 18-storey tower. Residents would have access to rooftop amenities including a swimming pool, spa, gym, sauna, private cinema, dining spaces and landscaped recreation areas, while more than half the site is dedicated to planting and open space.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="16041b5f-033e-47fa-8fbe-9886e072c1f2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pool.png?VersionId=kpx5w4EbLx0_TdWfDoD1vrSs0_cZ5Ao1" />

The heritage component is the defining feature of the proposal. Constructed in the early 1880s and occupied from at least 1883, Alpha Cottage is recognised by Brisbane City Council as an important surviving example of Kangaroo Point's nineteenth-century residential development and as a representative transverse-gable timber cottage. Despite extensive redevelopment across the peninsula, the building has retained a high degree of its original form and internal fabric.

As part of the redevelopment, the cottage will be carefully relocated a short distance within its original allotment to facilitate construction before being returned to a prominent position along Lambert Street. Original verandah elements will be dismantled, catalogued and reinstated, while significant internal features, including timber flooring, wall linings, joinery, doors, windows and hardware, will be retained. Later additions, including the enclosed rear verandah, will be removed to better reveal the building's original form.

Once restored, Alpha Cottage will accommodate the building manager's office, mail room and parcel facilities, providing an active everyday use that supports its long-term conservation rather than preserving it as a static display. The heritage strategy also maintains landscaped space around the building, allowing it to remain visually distinct beneath the new tower.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="43b027e1-576e-4624-a66c-7cc54ea8b7be" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/banksia%20tower.png?VersionId=2W6E2yfkj2AQlWlLeV986grA5zB9f817" />

The Heritage Impact Assessment concludes that "the proposal secures the ongoing occupation, maintenance and conservation of Alpha Cottage," finding the development would result in "no more than a minor impact on the cultural heritage significance" of the building while ensuring its long-term future.

Joe Adsett Architects have designed the tower to sit above the heritage building rather than overwhelm it, creating a clear visual separation between old and new. The development's flowing balconies, integrated planting and organic façade respond to Brisbane's subtropical climate while complementing the restored cottage below.

Banksia occupies a prominent corner in Kangaroo Point within walking distance of the Kangaroo Point Bridge, Brisbane River, ferry services, QUT, the CBD and the Woolloongabba precinct. The site also benefits from direct access to active transport infrastructure and sits within an area earmarked for continued higher-density residential growth.

Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage

Buying into a masterplanned community often means committing to a vision still years from taking shape. At <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>, that vision is already visible.

Residents have moved into the completed first stage, landscaped spaces are established, and the next chapter is now underway. Stage 1 has been completed and settled, with Stage 2 now selling off-the-plan.

Designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a>, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> combines attainable apartment living with sustainability initiatives rarely seen at this price point, including rooftop solar, battery storage and a resident EV-sharing program.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/6RNt3AvtBpI?si=JUhuCV2ZRXsYaoJZ" title="YouTube video player" width="560"></iframe>

Located on Schofi​elds Road, just moments from Tal​lawong Metro Station and Schof​ields Train Station, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been designed to appeal to a broad mix of buyers, from first-home purchasers looking for a foothold in Sy​dney's property market to downsizers seeking a connected, low-maintenance lifestyle.

<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been conceived as a thoughtfully planned masterplanned community that will evolve over multiple stages, with buyers now able to secure one, two and three-bedroom apartments within a neighbourhood that is already beginning to establish its identity.

One of the project's defining features is its focus on sustainability. Solar energy systems, battery storage and future EV charging infrastructure have been incorporated throughout the development, reflecting a long-term approach to both environmental performance and everyday convenience.

Sustainability sits at the centre of the development's vision, with solar energy systems, battery storage and future EV charging infrastructure integrated throughout the community.

That emphasis on future-ready living extends beyond the technology. Landscaped communal gardens, outdoor gathering spaces and plans for a future retail precinct aim to create a neighbourhood where residents can access daily conveniences without travelling far from home.

[smartcode_project:default project_id=149637 project_image_fid=351027]

The apartments themselves have been designed with liveability front of mind. Rather than chasing maximum density, the focus has been placed on creating practical homes with generous natural light, usable layouts and strong connections to outdoor space.

Importantly, these design principles have been applied consistently across the one, two and three-bedroom apartment offerings.

The appeal of <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> is also closely linked to its location within Syd​ney's rapidly evolving north-west growth corridor. Over the past decade, major infrastructure investment has transformed the area, with new transport links, business precincts and community facilities reshaping suburbs like Talla​wong and Schofiel​ds.

The agent says buyers are increasingly recognising the area's long-term potential.

"Typical buyers that we're finding across <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> especially are your first-home buyers, your investors, your upsizers as well as your downsizers," Hawes says.

Connectivity remains one of the project's strongest drawcards. Residents have access to both Tallaw​ong Metro Station and Schofi​elds Train Station, providing links to the Sydn​ey CBD, Norw​est Business Park, Macquari​e Park and other major employment hubs. Retail centres including Rous​e Hill Town Centre and Sch​ofields Village are also nearby, alongside schools, parks and future healthcare infrastructure.

[smartcode_project:default project_id=149637 project_image_fid=351031]

For Stage 1 resident Roji, it is the balance between convenience and comfort that has defined the experience of living at Kew.

"For me, it's a balance of quality and convenience," she says. "Everything I need is right here."

"If I wanted to catch the train, Scho​fields Station is just around the corner. Tallaw​ong Metro connects me to the city."

More importantly, she says, the development has delivered something that cannot be measured in floorplans or specifications.

"<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> feels like home."

[smartcode_project:default project_id=149637 project_image_fid=351024]

As Stage 2 enters the market, that lived experience may be one of the project's strongest selling points. Buyers are not purchasing into an untested concept or a future promise. They are joining a community that is already taking shape.

Ongoing investment in transport, retail, healthcare and public open space continues to strengthen the appeal of Syd​ney's north-west growth corridor, while <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>'s established first stage provides buyers with a tangible sense of the community's future direction.

For a limited time, buyer can secure a new home at <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> with just a $10,000.

[smartcode_project_cta:default project_id=149637]

Kew Tallawong: A growing community taking shape in Sydney's north-west

<a href="https://www.apartments.com.au/developers/freecity">Freecity</a> has received development approval for its 51-storey mixed-use tower at 153-157 Walker Street, North Sydney, set to be one of the tallest mixed-use residential-led buildings in one of Sydney’s most sought-after commercial and residential addresses.

Lodged as a State Significant Development Application (SSDA) through the Housing Delivery Authority (HDA) pathway and approved by the NSW Department of Planning, Housing and Infrastructure following a comprehensive public exhibition and submissions process, <a href="https://www.apartments.com.au/new-apartments/153-walker-street-north-sydney-nsw-2060">the project</a> will deliver 296 apartments, alongside a 170-room, luxury hotel, activated retail and significant public domain improvements.

Situated just 200 metres from Victoria Cross Metro Station, on one of the largest developable sites in North Sydney, the development will rise to 234 metres, making it one of the tallest buildings in the suburb. With an end value of approximately $1.5 billion, the project responds directly to the NSW Government’s mandate to accelerate housing delivery in well-located, transit-connected areas.

<img alt="Freecity gets green light for mixed-use residential and hotel tower in North Sydney" data-entity-type="file" data-entity-uuid="192ec455-94bf-4e01-83ef-922b1b269d67" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Freecity%20-%20Walker%20Street%20North%20Sydney%201%20RESIZED%20.jpg?VersionId=Bzqp0SBHCDvLAHjA4QXkjuGoOEIh73Jl" />

The apartment mix will cater to a broad range of buyers, with 65 studio and one-bedroom apartments, 139 two-bedroom residences, 35 three-bedroom apartments, 48 four-bedroom homes, and nine penthouses. Residents will have access to a dedicated amenity level on Level 33, featuring a swimming pool with views towards the Harbour Bridge, Sydney Opera House and North Sydney CBD, as well as a gym, library, shared kitchen, lounge and outdoor entertaining areas.

The hotel will occupy the lower six levels of the building and include meeting and function spaces, a wellness centre with gym, yoga studio, swimming pool and sauna, further strengthening North Sydney's growing hospitality offering.

At ground level, the development has been designed to improve pedestrian connections through the precinct. More than 700 sqm of retail space will activate the street frontage, while a landscaped through-site link connecting Walker Street, Little Walker Street and Doris Fitton Park will provide new public open space with seating, paving and extensive native landscaping.

Freecity Group Co-Founder and Joint CEO Tony Sun said the project represents one of the most significant development opportunities currently available in North Sydney.

"This is one of the most significant development sites in North Sydney and it comes at a pivotal moment for the precinct," Sun said.

"North Sydney is undergoing a genuine transformation, and this project will contribute housing the city urgently needs while creating a landmark destination."

Executive Director of Development Michael Romano said demand for both residential and hotel accommodation would continue to strengthen as the Metro precinct matures.

"The structural demand for high-quality housing and hotel accommodation in North Sydney is compelling, and will only grow as the precinct continues to evolve around the new Metro station," Romano said.

Architectus has designed the tower, orientating the apartments to maximise views towards Sydney Harbour while introducing a sculpted façade intended to respond to light, wind and the surrounding skyline.

Architectus Principal Marko Damic said the design sought to create a tower that contributes to the public realm as much as the skyline.

"We wanted to design a tower that doesn't just sit in the skyline but actively participates and contributes to city life," Damic said.

First look: Freecity gets green light for mixed-use apartment and hotel tower in North Sydney

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and <a href="https://www.apartments.com.au/developers/perifa">PERIFA</a> have celebrated the topping out of <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf,</a> marking a significant milestone in the delivery of one of Syd​ney's most anticipated waterfront communities.

Located on Sydney's harbourfront at <a href="https://www.apartments.com.au/developments/putney-nsw-2112">Putney</a>, the project has now reached its highest structural point, with construction progressing strongly towards completion in 2027. 
&nbsp; 
The milestone was celebrated on-site with project partners Phoenix Property Investors, Mitsubishi Estate Asia, Versatile Construction, <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, consultants and stakeholders, to recognise the collective effort behind the transformation of the historic waterfront site into a vibrant new residential, marina and lifestyle destination.

[smartcode_project:default project_id=13962 project_image_fid=362240] 
&nbsp; 
<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will deliver a mix of waterfront residences and terraces, complemented by a private 36-berth marina, waterfront dining opportunities and a revitalised foreshore designed to reconnect the community with the river's edge. 
&nbsp; 
Abadeen Executive Chairman and Founder Justin Brown said the project represented a rare opportunity to create the next chapter in Sydn​ey's long history of successful waterfront precincts. 
&nbsp; 
"Throughout Sydney, some of the city's most sought-after addresses have emerged from carefully considered waterfront precincts such as Woolloom​ooloo Wharf, Walsh Bay and Breakfast Point," Brown said.

[smartcode_project:default project_id=13962 project_image_fid=362566] 
&nbsp; 
"What makes these places so successful is that they become much more than residential developments," Brown said.

"They bring together homes, hospitality, marina facilities, public spaces and a strong sense of community in locations where future supply is incredibly limited."

Brown has long described absolute waterfront land in Sy​dney as "finite."

"Once these opportunities are developed, they are rarely replicated. That's why Syd​ney's waterfront precincts have consistently demonstrated strong demand and long-term value growth over many decades. 
&nbsp; 
"<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is one of the few remaining opportunities to secure a residence within a masterplanned waterfront community that combines direct water access, marina ownership opportunities and a genuine village lifestyle just moments from the Sy​dney CBD."

[smartcode_project:default project_id=13962 project_image_fid=362564] 
&nbsp; 
PERIFA Founder and Managing Director Fabrizio Perilli said the project reflected a shared commitment to delivering exceptional places that create long-term value for residents and the broader community. 
&nbsp; 
"The topping out milestone is a significant achievement for the Versatile Group and a testament to the collaboration between all project partners, consultants and contractors involved," Perilli said. 
&nbsp; 
"Beyond the residences themselves, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will establish a new waterfront destination that celebrates the history, character and lifestyle of this unique location while creating a lasting legacy for future generations."

[smartcode_project:default project_id=13962 project_image_fid=291195] 
&nbsp; 
Construction is being delivered by <a href="https://www.apartments.com.au/builders/versatile">Versatile Construction</a>, with structural works now substantially complete across the precinct. Attention will progressively shift to the construction of the waterview terraces, apartment façades, services and interior fit-out works over the coming months. 
&nbsp; 
With limited residences and marina berths remaining, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> continues to attract strong interest from owner occupiers and downsizers seeking a premium waterfront lifestyle within close proximity to Putne​y Village, Rh​odes, Top Ry​de and the Syd​ney CBD. 
&nbsp; 
As one of the last opportunities to secure a residence within a new masterplanned waterfront community on Sy​dney Harbour, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is expected to remain a highly sought-after address for years to come.

[smartcode_project_cta:default project_id=13962]

Jonathan Chancellor

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News