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<img src="/images/stories/flagtitletat.jpg" style="float: left; margin: 5px;">One of Sydney Harbour’s longest property owners, Sir William Tyree, the founder of a 1940s electrical transformer manufacturing company, has listed his $40 million plus Darling Point harbourfront residence.  Sir William - who briefly dabbled in fm radio licences in the late 1970s - gave his address as Darling Point when he was knighted in 1971 for philanthropic services. In the early 1990s Sir William successfully resisted attempts by Woollahra Council to turn his foreshore land, which has unrivalled boating facilities, into a harbourfront open space linking to nearby McKell Park. Sir William has engaged three agents Bill Bridges of Ballard Property, Ken Jacobs of Christies International and Michael Dunn from Richardson &amp; Wrench to find its buyer.
The imminent marketing follows his recent $7 million apartment purchase in the Rose Bay harbourfront Wintergarden complex through Richardson &amp; Wrench Double Bay agents Michael Dunn and Jane Ashton.  The Wintergarden purchase is the apartment designed in the late 1980s for its developer Sid Londish with the size and scale of a house.
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<img src="/images/stories/flagtitletat.jpg" style="float: left; margin: 5px;">Seek co-founder Matthew Rockman has listed his four-bedroom Toorak home (pictured above and below) with $3 million hopes through Kay &amp; Burton’s Gerald Delany and Nicole Gleeson. The contemporary house was designed by SJB Architects. It comes with formal sitting room, vast open-plan living and dining zone, adjoining alfresco deck and pool area. It has four bedrooms plus study. The house has four-car accommodation. The Rockmans are building nearby, hence the listing.
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Rockman co-founded Seek with brothers Andrew and Paul Bassat in 1997 and managed to survive the tech wreck of 2001, with a 2003 decision by Kerry Packer's PBL to buy a 25% stake in the firm increasing the collective’s net wealth by $40 million.
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<img src="/images/stories/flagtitletat.jpg" style="float: left; margin: 5px;">The Millers Point, Sydney apartment (pictured above) of cattlewoman and heiress to the UBD directory fortune Leonie Lawson was withdrawn from its mid-week auction through Ballard Property agents Clint Ballard and Bill Bridges with price hopes of more than $3.5 million. Occupying the entire 10th level of The Georgia, a prestigious building in Kent Street, it has 230 square metres of space with three bedrooms, three bathrooms and formal living and dining areas opening to a terrace with views to the Opera House, Harbour Bridge and Circular Quay.
Standing on the site of the circa 1907 Dumbarton Castle Hotel, which was demolished in late 1996, The Georgia is a 28-storey building designed by acclaimed architect Ercole Palazzetti, built by Multiplex and completed in 1998. Lawson, who owns an extensive rural holding at Oberon, has listed her apartment because she wants to upgrade her city pad.
This week came news as reported by veteran SMH reporter Malcolm Brown that the “glovebox Gregory's”, which has guided Sydneysiders on roads for 75 years, has been published for the last time before being swallowed up by its big brother, the UBD Street Directory. It seems Navman, Google Maps and Whereis.com on iPhones has spelt the end of the print directory, which was started by a Bathurst journalist, Cecil Albert Gregory, in 1934 after he came to Sydney to work and had trouble finding his way about. The directory eventually peaked at sales of 150,000 a year.
 
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<img src="/images/stories/flagtitletat.jpg" style="float: left; margin: 5px;">Art collectors Dr David Rosenthal and Professor Doreen Rosenthal have a $2.95 million post-auction asking price on their Malvern home (pictured above), which has doubled as their private gallery for more than 40 years. The classic four-bedroom Victorian on Winter Street has period features including ornate ceilings, marble fireplaces, a double-arched hall and a hand-painted stained-glass entrance. At the back of the corner block is a north-facing garden, a heated swimming pool and a workshop-studio. It was 45 years ago when the Rosenthals moved into the property that had been a family-run boarding house. Its Marshall White agent, Dean Gilbert, had been quoting $2.4 million-plus pre-auction.
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<img src="/images/stories/flagtitletat.jpg" style="float: left; margin: 5px;">Channel Seven Sydney sports presenter Tony Squires and his wife, Kate Pascoe, are selling their house at Clovelly (pictured above). The large three-bedroom Federation semi has open-plan living and dining areas overlooking the ocean. More than $1.7 million is expected for the Surfside Avenue property set for August 27 auction through Debbie Donnelley at goodyerDonnelley Real Estate. Squires and Pascoe are upgrading to a larger $2.6 million house as they want more space for their young son. It was the three-level residence at Bondi Junction sold by the art gallery owner Richard Martin through Ben Collier at McGrath Eastern Suburbs.
<img src="/images/stories/flagtitletat.jpg" style="float: left; margin: 5px;">Title Tattle aims to tell you as soon as we know – often before it happens –so the word is that Byron Rose will be stepping down as president of the Real Estate Buyer’s Agents Association of Australia after two years in the job. Warwick Brookes is tipped as its next president. Brookes is from the Melbourne-based Domain Property Advocates and a licensed agent with more than 12 years’ experience in real estate. He joined the REBAA Executive in 2009 when he was elected vice-president. There are about 75 to 100 firms around Australia acting exclusively as buyer’s agents, nearly half of those are in New South Wales, compared with just two 10 years ago.
Rose has been around the Sydney scene since 1990 and as a buyers’ agent at Rose &amp; Jones since 1998, and his most high-profile representation was at The Block auction in 2003 at Bondi when he represented the Fairfax Media Group’s purchase of the top-floor French provincial-style property of Phil Rankine and Amity Dry for $655,000 for a Sun Herald marketing promotion.
<img src="/images/stories/flagtitletat.jpg" style="float: left; margin: 5px;">And don’t say that Title Tattle told you, but it was the Paul and Sandra Salteri  who bought the Quay apartment overlooking Circular Quay in Sydney from racing enthusiast Geoff White and his wife, Beryl. They paid $9.85 million for the whole-floor, 414-square-metre apartment, which had been the Whites’ Sydney home since 1991, when they paid a record $3.75 million in the 29-storey Concrete Constructions-built 1984 residential block.
With an estimated $975 million net worth, Paul Salteri chairs Tenix, an industrial services company. The bulk of the philanthropic family's wealth comes from the sale of its defense businesses in 2008 to BAE Systems and Lockheed Martin. The family patriarch, Carlo Salteri, an Italian immigrant who cofounded the business in 1956, died aged 90 in October 2010.
The sale was through City Living agent Bruce Fallshaw, who was under instructions not to reveal its final sale price. The initial hopes were $20 million last year, which were revised down to $11.5 million in March this year. The sale price of the 27th-floor four-bedroom, six-balcony apartment reflected $23,800 per square metres. The unit had been purpose-built by the developer in 1985 with two separate entrances off its own lobby.
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jchancellor-FAypfDUnLy

Sir William Tyree lists $40 million mansion in Darling Point: Title Tattle

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Coal mining magnate Tony Haggarty has become a luxury Manly property developer after foreclosing on the Bower Street development site of property developer Matt Savage.
Haggarty’s private investment company HHTT Pty Ltd had limited equity in the project by Matt Savage’s Savage Property Enterprises Pty Ltd.
Haggarty sold the first of the four apartments at 110 Bower Street, Manly, earlier this month at $7.53 million through McGrath agent Jake Rowe, with two others set to be marketed later this year. Haggarty, who was born in Dungog, was the co-founder of Excel Coal.
Haggarty collected $225 million through the sale of Excel, the Hunter Valley mining company, to US giant Peabody Energy, when it sold for $2 billion in 2006.
A bankruptcy sequestration order was made against the estate of the Orange-based Matt Savage on June 30, 2011 following an application by the body corporate at his nearby earlier development.
The former lawyer turned property developer completed his initial luxury apartment complex at 92 Bower Street, where two of the three leasehold apartments sold for $8 million off the plan in 2007 to Haggarty and $7 million to financial adviser Nigel Flowers. Savage kept the third after its 2008 completion, which is still in his name, albeit with six caveats on title from aggrieved creditors. Several are from the architect Don Bianchino.
Savage once noted the project came about after he went to a real estate agent looking for a beautiful townhouse in the area. "I was told such a thing didn't exist," he says. "He told me if I wanted one, I'd have to build one. So I did, right on the edge of the cliff on the water."
An ugly, rundown 1920s two-storey block of flats was pulled down, with the new building designed by architect Vince Squillace. With its pool and garden, the $8 million sale was the highest recorded Manly apartment price at the time.
But it was the next project at 110 Bower – now under Haggarty’s control – where Savage came unstuck. Savage paid $8.25 million in July 2007 for his next intended second low-rise development on the waterfront. Subcontractors for its demolition were sought in early 2008. But the replacement of the old block never proceeded, with Savage unable to secure the requisite financing for its redevelopment. Savage had approved plans for four spacious, four-bedroom apartments with 180-degree views over the marine reserve, Shelly Beach, Fairy Bower surf break and the ocean.
Designed again by architect Vince Squillace with a more contemporary design, they will sit 10 metres above the water on the cliff face. Built of sandstone, recycled timbers and copper cladding, with stone tiles, boat deck-style floors, and large decks they were listed for sale for more than $7 million, and due to be finished in late 2010. The two off the plan sales didn’t get to proceed as the delay worsened.
"Fairy Bower is the eastern suburbs of the North Shore but with a north-facing beach over the ocean instead of the harbour," Matt Savage once suggested. His bankruptcy marked a sad twist that began 23 years earlier when as a penniless student Savage proposed to his girlfriend, Lisa, on the sands of Fairy Bower, so-called because of the magical and romantic qualities of the rocky bushland gully and creek than once ran down to Cabbage Tree Bay.
Enchanted by both the place and her suitor, the girlfriend accepted and the couple vowed that one day they'd try to live there.
"But we never thought we'd ever be able to afford it," noted Savage in the 2008 interview. 
Matthew Ronald Savage, was bankrupted by order of Registrar Segal in the Federal Magistrates Court of Australia. It followed a petition by the strata plan owners of his apartment, who were represented by David Le Page.
Other bankruptcy orders had been sought by Australian Unity Funds Management.
The foreclosure documents, which list the property's failed primarily print marketing campaign, are on page 2.
 
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Coal magnate Tony Haggarty turns luxury property developer after Manly foreclosure

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More than 50,000 fans have flocked to Cameron Street in Richmond to inspect the interiors of the four homes renovated for the Channel 9 hit television series The Block during its busy open for inspections.
But only a few have asked to check the depreciation reports for the four homes.
It’s the goldmine for investors seeking to maximise the returns on their likely $800,000 plus outlay when the four newly renovated fully furnished houses go to weekend auction.
All four listing agents have used the reports in their challenge to convince investors to be among the buyers.
The depreciation reports have been prepared by BMT Tax Depreciation Quantity Surveyors, which have inspected the older properties – now renovated – and estimated what a buyer could claim in deductions in his or her tax returns.
It is estimated the renovated house at 43 Cameron Street, renovated by Rod and Tania, could have an initial maximum $29,000 claimable depreciation in its first financial year. Its depreciation would peak in its second financial year at $31,500.
The house renovated by Polly and Waz at 39 Cameron Street could have an initial maximum $27,000 claimable depreciation in its first financial year. Its depreciation would peak in its second financial year at $29,700.
The house at 37 Cameron Street, which Jenna and Josh renovated, has an initial $25,000 claimable depreciation.
The house renovated by Katrina and Amie at 41 Cameron Street could have an initial maximum $28,000 claimable depreciation in its first financial year. Its depreciation would peak in its second financial year at $30,000.
Even though the buyers will not have carried out the work themselves, the  ATO allows property investors to claim a deduction related to the building and plant and equipment items contained within it. It can be claimed by any owner of an income-producing property.
The four houses would need to fetch close to $1 million to break even, given the $3.6 million initial purchase, plus other costs, but the television series is content to make its money from big advertising revenues.
This season of Channel 9’s The Block has rated well, with up to 1.9 million nightly viewers underpinned by about a third of its audience from Melbourne.
The next series of The Block seems set for South Melbourne, with the television show production company spending some $3,025,000 on four unrenovated terraces.
For possible rental yields of The Block cottages, see our <a href="https://www.propertyobserver.com.au/residential/friday-form-guide-yields-of-up-to-7.5-on-the-block/2011081851199?source=flicker1" title="Friday Form Guide" target="_blank">Friday Form Guide.</a>
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Investors tipped to appreciate The Block's depreciation

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Two Southbank listings have made it onto SQM Research's Top 10 Most Discounted Properties list.
The list remains quite steady from last week, but for the new entrant in Melbourne's Southbank precinct. It’s in the Yarra Condos building, which is close to the Arts Centre, Southgate restaurants and shops.
The 10th place property is a $1.1 million Kavanagh Street, Southbank offering. SQM notes it been on the market since September 2010 when it was listed with unrealised $1,565,000 hopes. It represents a 30% decline in expectation for the three-bedroom unit with Botanic Gardens and bay views.
Number nine on the list, 2506/83 Queensbridge Street, Southbank, has been discounted by 30% to $1.5 million plus. This property is some $600,000 less that the vendor's original asking price last October. Ideally the vendor will take $1.65 million.
The week's list is topped by 588 White Beach Road, White Beach in Tasmania.
Discounts in other suburbs are available with a <a href="https://sqmresearch.com.au/homediscounts.php" title="Home Discount Report" target="_blank">SQM Research Home Discounts Report </a>detailing all the properties that have been on the market for a period of over 60 days.
1
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106479093" title="588 white beach road" target="_blank">588 White Beach Road, White Beach, Tasmania, 7184</a>
On the market since: May 23, 2010
Initial asking price: $780,000
Current asking price: $400,000
Reduction: 49%
Days on market: 441
 
 2
<a target="_blank" title="1350 Wynnym Road" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106966579">1350 Wynnum Road, Tingalpa, Queensland, 4173</a>
On the market since: November 6, 2010
Initial asking price: $700,000
Current asking price: $380,000
Reduction: 46%
Days on market: 273
 
<h2 style="font-size: 18px; line-height: 21px;">3</h2>
<a target="_blank" title="3 Boolari Road" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D105832903">3 Boolari Road, Gosford West, NSW, 2250</a>
On the market since: July 8, 2009
Initial asking price: $990,000
Current asking price: $580,000
Reduction: 41%
Days on market: 759
 
<h2 style="font-size: 18px; line-height: 21px;">4</h2>
<a target="_blank" title="1/21 Ocean Drive" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106550670">1/21 Ocean Drive, Coogee, WA, 6166</a>
On the market since: May 23, 2010
Initial asking price: $2.7 million
Current asking price: $1.6 million
Reduction: 41%
Days on market: 441
 
<h2 style="font-size: 18px; line-height: 21px;">5</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008491614" title="25 Vicary Street" target="_blank">25 Vicary Street, Triabunna, Tasmania, 7190</a>
On the market since: August 2, 2010
Initial asking price: $299,000
Current asking price: $189,000
Reduction: 37%
Days on market: 371
 
 6
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D105294317" title="3 Zelma Court" target="_blank">3 Zelma Court, Macleay Island, Queensland, 4184</a>
On the market since: May 23, 2010
Initial asking price: $380,000
Current asking price: $250,000
Reduction: 34%
Days on market: 440
 
7
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106138206" title="1/16 Dewar Way, Ledge Point" target="_blank">1/16 Dewar Way, Ledge Point, 6043</a>
On the market since: November 15, 2009
Initial asking price: $375,000
Current asking price: $250,000
Reduction: 33%
Days on market: 629
 
 8
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106584332" title="102 Countryside Drive" target="_blank">102 Countryside Drive, Two Rocks, WA, 6037</a>
On the market since: June 5, 2010
Initial asking price: $855,000
Current asking price: $570,000
Reduction: 33%
Days on market: 427
 
9
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008659274" title="2506/83 Queensbridge Street" target="_blank">2506/83 Queensbridge Street, Southbank, VIC, 3006</a>
On the market since: October 31, 2010
Initial asking price: $2.15 million
Current asking price: $1.5 million
Reduction: 30%
Days on market: 280
 
10
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106820916" title="195/38 Kavanagh Street" target="_blank">195/38 Kavanagh Street, Southbank, VIC, 3006</a>
On the market since: September 11, 2010
Initial asking price: $1,565,000 
Current asking price: $1.1 million
Reduction: 30%
Days on market: 329
 
 
 
SQM Research also offers a list of the <a href="https://www.sqmresearch.com.au/top100bargains.php" title="SQM Research" target="_blank">Top 100 Biggest Bargains in Australia </a>for sale.
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Southbank luxury apartments on SQM's most discounted list

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The Australian Securities and Investments Commission has warned of unlicensed businesses offering home loans.
Ezy Savings and Caveat Loans ITstrong are not registered Australian companies, and they do not have Australian offices or valid business addresses. 
However, ASIC is aware these two unlicensed businesses are offering services for home loans for an upfront fee. All lenders, brokers and credit intermediaries must be licensed by ASIC in order to offer consumer credit products and services.
Subsequent to ASIC making inquiries in relation to the complaints it received about Ezy Savings and Caveat Loans ITstrong, their websites have disappeared.
But unsolicited telephone calls – known as “cold calls” – to consumers have continued. This involves consumers being subjected to high-pressure and often misleading or deceptive sales methods to persuade them to pay an advance fee towards obtaining a loan. When consumers pay the fee the loan was not provided and consumers cannot contact the business.
All contact with consumers is made by phone, fax or email. The phone numbers appearing on the companies' websites and business documents have been traced to an end-user in India. ASIC inquiries have established that money paid by consumers has been transferred overseas.
ASIC told Property Observer its inquiries were continuing so its didn't have a definitive number on consumers who have lost money.
It says the scam has been running Australia-wide – with its investigators having spoken with complainants from nearly all states It had not been able to establish how the callers know that the consumers wanted a loan.
“It may be, in some instances, that the consumers have simply succumbed to the high-pressure sales tactics,” an ASIC spokesperson says.
Consumers should check basic company and business details by consulting <a target="_blank" title="ASIC" href="https://www.asic.gov.au">ASIC’s website </a>, which contains a listing of all registered Australian companies and businesses.
ASIC’s <a target="_blank" title="Money Smart" href="https://www.moneysmart.gov.au">MoneySmart website</a> also provides information on how to avoid scams.</body></html>

ASIC issues warning over home loan scams

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Paper-based property transactions, including bank cheques, title transfer and mortgage-related documentation, are set to become a thing of the past, with a single national electronic conveyancing system now scheduled for late 2012.
The first property e-conveyancing transactions are set from early 2013. Legislation will need to be passed by each state government before the e-conveyancing platform can be implemented, along with a reliable and trusted structure for digital signatures.
It follows a decision to abandon Victoria's stand-alone pioneering e-conveyancing system, Electronic Conveyancing Victoria, which was announced earlier this week as part of a series of deals leading to the rollout of PEXA or Property Exchange Australia. Despite a decade of endeavours there had been no agreement on a single national system with instead parallel work has been going on in a number of states.
Set to cut the cost of buying a home by between $120 and $130, the national system is expected to begin operating late next year.
It is intended to deliver annual efficiency gains of $240 million.
National E-Conveyancing Development Ltd (NECDL), a company backed by most states and the big banks, will own the national network. NECDL has signed a master agreement with Accenture to design and build the national e-conveyancing platform for Australia.
In return for giving up the intellectual property in ECV, Victoria is understood to have emerged with a dominant 33.7% stake in NECDL.
The delivery of a national e-conveyancing platform forms part of the Council of Australian Governments’ micro-economic reform agenda and is one of the deregulation priorities under the National Partnership Agreement to Deliver a Seamless National Economy.
Australian Bankers’ Association chief executive Steven Münchenberg says a national e-conveyancing system will mean major efficiency gains for the banking sector.
“The ABA has supported this initiative because on delivery there will be many benefits such as faster and more efficient processes, elimination of bank cheques for property transactions, easier co-ordination of settlements and greater certainty for all involved.”
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Conveyancing to become paperless late next year

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The property advertising website operator REA Group posted a 33% rise in net profit to $67.5 million for the year to June 30, saying the result is due to growth in core areas of operations.
Its revenue was up 23% at $238 million compared with the previous corresponding 12 months, with $213 million being drawn from its Australian realestate.com.au clients. Its net profit from continuing operations went up 37% to $67 million.
It noted that its market share of Australia remained flat, with 9,536 paying estate agents.
However, REA’s monthly average revenue per agent was up 15% from $1,267 in June 2010 to $1,456 in June 2011  due to take-up of its new range of depth products.
The web traffic across all Australian sites increased to 9.2 million unique browsers in May 2011, up from 6.7 million in May 2010, based on Nielsen data.
The company operates 13 websites in countries including Italy, France and Hong Kong.
REA Group shares were up 13¢ to $11.77 yesterday.
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Realestate.com.au's REA profits up 33%

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The owner of Crowne Plaza Christchurch, Eureka Funds Management, has confirmed the hotel is to be demolished, following a final ruling by structural engineers that damage sustained during the Christchurch earthquakes in February cannot be repaired.
<img src="/images/stories/crowneplaza.jpg">
Eureka today briefed the hotel’s 160 remaining employees, who have been retained on full pay since the earthquakes, that the Crowne Plaza (pictured above) will not be rebuilt following its demolition.
It joins the Hotel Grand Chancellor in central Christchurch, whose demolition has been pushed back nearly two months by aftershocks. The Canterbury Earthquake Recovery Authority (Cera) has been advised by contractor Fletcher Construction that it could bring down the 26-storey Grand Chancellor building in 37 weeks.
The Crowne Plaza, located on the corner of Kilmore and Durham streets on the edge of Victoria Square, was situated in a section of the CBD that still remains restricted to public access.
“After careful analysis, our structural engineers have reached the conclusion that the building needs to come down.  The structure is noticeably leaning and cannot be restored to the building codes that were in place at the time of the earthquakes.  It’s essentially broken beyond repair,” says Eureka Funds Management fund manager Glen Boultwood.
“We’ve investigated every possible avenue to restore this hotel.  Based on significantly higher construction costs and additional costs resulting from necessary changes to building codes in the city, the fact remains that it is financially prohibitive for us to re-establish the hotel in Christchurch.”
Eureka Funds Management purchased the 23-year old Crowne Plaza Christchurch in 2008.
Intercontinental Hotel Group has operated the hotel in its portfolio of 50 hotels and resorts across Australasia, as part of the world’s largest hotel network by number of rooms.
Christchurch’s occupancy rate jumped 12% to 62% based on the latest preliminary figures from STR Global, with an average $149 room rate.
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Earthquake-damaged Crowne Plaza Christchurch to be demolished

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Bartinon, the seven-bedroom waterside mansion in Sorrento, could enjoy the prospect of the rising price tide on Queensland’s Coast Coast.
It has been sitting on the market since last July, when the highest bid of $7.25 million offered at auction fell short of the $8 million paid in April 2009.
Transport tycoon Douglas Kefford bought it from Cameron Davis, from the Samtay Group, and his wife, Lynette.
Prestige prices on the Gold Coast got a fillip last weekend with a <a target="_blank" title="Paradise Waters sale" href="https://www.propertyobserver.com.au/queensland/paradise-waters-auction-could-put-wind-in-luxury-market-sales/2011081551156">$6.725 million riverfront sale at Paradise Waters</a>, the highest sale for three years.
The seven-bedroom early 1980s house was built by tycoon Sir Justin Hickey and his wife, Lady (Barbara) Hickey.
The name of the one-hectare Riviera estate incorporates the initials of their five children.
Hickey, the Marrickville-born insurance magnate who started his career cutting lawns, moved to the 250-squares house in the early 1980s after selling his Emerstan Drive, Castle Cove, house to businessman Phil Cave.
With 85 metres of frontage, it is one of the largest residential blocks on the Nerang River on the coast.
Davis paid $6,665,000 in 2006 to buy it from former Fraser Island tourism operators Sidney Melksham and Angela Burger.
The 6,500-square-metre riverfront Sorrento property previously sold for $4.25 million in 2001 when offloaded by Indonesian industrialist Alimin Soenario.
Soenario had set a $3,125,000 record in 1994 when he bought it on its then 9,000 square metres.
Kefford, who has spent only four or five weeks a year at the house on Marseille Court, has it listed through Ray White agent Michael Kollosch.
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Gold Coast $9 million offering might benefit from Nerang River rising tide

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Melbourne shopping centre the Jam Factory is to get a $16 million refurbishment due for completion by June 2012.
The largest renovation in the Jam Factory’s 32-year retail history will be the rollout of the first Australian store for global fashion giant Topshop at the Chapel Street, South Yarra site.
Topshop is a leading UK-based high street retailer, with over 750 stores worldwide.
Its 1,600-square-metre concept store will house both the Topshop and Topman brands, and is expected to open for trade prior to Christmas 2011.
“The revamp is a major milestone in our longer term redevelopment plans,” Challenger Diversified Property Group fund manager Trevor Hardie says.
He says many existing Jam Factory retailers are expected to introduce new concept store format to complement the extensive renovation.
Target has also chosen the Jam Factory for its late August launch of Urban by Target – an inner-city compact concept store carrying Target’s core range of apparel and soft home wares.
Existing Jam Factory retailers are expected to introduce new concept store format to complement the extensive renovation
Current tenants include Nando’s, CUE, Village Cinemas, Boost, Steve Madden and TGI Friday’s.
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Jam Factory set for $16 million makeover as Topshop moves in

Burgeoning South East Queensland developer <a href="https://www.apartments.com.au/developers/frank-developments">Frank Developments</a> is continuing to pad out its capital city development pipeline.

The developer, led by Frank Licastro, has its sights set on Kingsford Smith Drive in Hamilton, where it is planning <a href="https://www.apartments.com.au/new-apartments/avela-60-kingsford-smith-drive-albion-qld-4010">AVELA</a>, a 166-apartment development across three towers that tier down from 28 storeys to 19 and 17.

The towers will rise above the iconic Breakfast Creek Hotel.

Frank has brought on Melbourne architecture practice <a href="https://www.apartments.com.au/architects/rob-kennon-architects">Kennon</a> to design the building, conceived as a “defining architectural marker where the airport corridor meets the inner city.”

<img alt="First look: Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway" data-entity-type="file" data-entity-uuid="e787c64e-f0a4-4725-891e-e86b40ee5c5c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/AVELA.png?VersionId=1ulwuZ9w2vQ2td7v.J2zUI7Ih_DT4Kwz" />

Kennon describes the project as a once-in-a-generation opportunity.

"Positioned at the northern gateway of Brisbane's primary CBD corridor, this project represents a singular moment in the city's urban evolution, one that will not come again," the architecture practice said in the documents submitted to the Brisbane City Council.

"Where the airport and world beyond meets the city, the building will rise as a sculptural landmark, a defining piece of architecture that signals arrival into Brisbane and anchors the connection between the city and the communities to its north."

<img alt="First look: Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway" data-entity-type="file" data-entity-uuid="d572bf62-a98d-4847-95d0-889e3d3283e1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/AVELA%20podium.png?VersionId=6.Ax4jBzTbY5ahm55iaMWNR03ODhDQSm" />

The development is centred around owner-occupier apartments, with a mix of two, three and four-bedroom residences designed to capitalise on city and river views.

Four basement levels accommodate resident parking, allowing the podium to prioritise pedestrian activity and public-facing uses like ground-floor retail, a cafe, a&nbsp;neighbourhood grocer, and a public accessible indoor pickleball court and event space.&nbsp;

There will be nearly 2,000 sqm of communal wellness and recreation facilities across three levels.

<img alt="First look: Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway" data-entity-type="file" data-entity-uuid="c5ac3cbf-3c11-4219-89f3-e12d9e0f9ffd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/AVELA%20podium%20A.png?VersionId=_.4zd1HLCKa1s6I_oxkY4NNqX6o3Yevn" />

&nbsp;

Frank Developments has increasingly focused on design-led residential projects across South East Queensland.

AVELA is Licastro's second on Kingsford Smith Drive following <a href="https://www.apartments.com.au/new-apartments/alba-92-kingsford-smith-drive-hamilton-qld-4007">Alba</a>, 85 apartments just down the road. The developer has <a href="https://www.apartments.com.au/new-apartments/mira-61-garfield-terrace-surfers-paradise-qld-4217">MIRA</a> and <a href="https://www.apartments.com.au/new-apartments/myst-burleigh-heads-270-the-esplanade-miami-qld-4220">MYST</a> on the Gold Coast, as well as <a href="https://www.apartments.com.au/new-apartments/murano-teneriffe-37-wyandra-street-new-farm-qld-4005">Murano</a> coming up in Teneriffe and <a href="https://www.apartments.com.au/new-apartments/bel-air-33-oxlade-drive-new-farm-qld-4005">Bel Air in New Farm</a>.

Joel Robinson

Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway

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.

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.

Jonathan Chancellor

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