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The future of the Big Prawn at Ballina is now very much in play following the purchase of the site by Bunnings Warehouse group.
The 2.5-hectare site has sold for about $10 million to the hardware retailer, which is unlikely to keep the dilapidated eyesore.
The Wesfarmers-owned Bunnings has yet to reveal its plans for the Pacific Highway site, which had been for sale since early last year.
It last traded in 1999 at $3.6 million, some 10 years after the prawn was built. It has 173 metres of highway frontage at West Ballina.
The roadhouse creators, the builders Glenn Industries and the Goulburn developers Louis and Attila Moknay of LA Developments, famed for two other big daggy icons, the Big Merino at Goulburn and the Big Oyster at Taree, spent $500,000 and six months to erect it in 1989-90.
But it has become an eyesore, with the owner recently required by the council to clean up the graffiti-ridden giant crustacean.
The Ballina Shire approved plans in 2009 for the demolition of the Big Prawn and the petrol station.
It had been listed through Michael Shay at LJ Hooker and North Coast Commercial Real Estate agent Troy Outerbridge. Another bulky goods site on the same stretch as the Big Prawn has been sold by Outerbridge. The 6700-squre-metre site had a $2.68 million asking price.
“Bunnings continues to actively development seek new sites,” its managing director John Gillam told the Australian Financial Review.
“This includes the acquisition of a site in Ballina, which is also the site of the Big Prawn.”
Gillam says the group was now preparing a development application for the site and will “work with the relevant stakeholders to determine an appropriate future for the local attraction”.
The Big Prawn has been a source of colour writing over the years. Writer Dan Silkstone noted after a 2005 visit that the roadhouse had 24 dishes at the all-you-can-eat buffet and “none of them contain prawns, which seems misleading”.
Robert Drewe wrote after its demolition approval debate in 2009 that the man who built the Big Prawn, Tony Grosset, of Glenn Industries, said it would be easy to move.
“The giant tourist-trapping crustacean, 30 metres of pink cement tiger prawn situated on the highway at Ballina, in the Northern Rivers, has ‘gone off’,” Drewe wrote in The Age.
“Three owners and several million fish-and-chip servings later, it no longer looks like fresh seafood, it has gone cross-eyed with fatigue, it's peeling, and its present owner wants to toss it out. “
“Tastes change, even in Ballina, whose most impressive civic structure is the wave-shaped RSL club and where the motorised mobility scooter with its compulsory boxing-kangaroo flag is the vehicle a la mode.
“A month ago it was decided the prawn should be demolished. And when this leading retiree destination decides that something is passe, you can believe its time has truly passed,” Drewe suggested.
Columnist Emma Tom called it “excitingly realistic” in 1995.
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Bunnings shells out for Big Prawn site, but has no plans for Ballina icon's renovation

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Brighton's two priciest homes are directly competing for buyers this spring with a battle to see who retains or secures the suburb’s record price title.
<img src="/images/stories/kinane.jpg">
Kinane (pictured above)  could be back on top with price hopes of almost $20 million, but the Salvo family, who currently hold the record, have now listed their house just two years after they paid $15.6 million for the beachfront reserve mansion.
Set on Glyndon Avenue, the Salvos’ five-bedroom mansion has a 59-metre beach frontage – along with a tennis court, swimming pool, spa, sauna, gym, and rooftop entertainment area – and has been listed by JP Dixon agents Jonathan Dixon and Marcus Gollings and Chris Bevan with $20 million hopes.
Kay &amp; Burton Brighton agent Ian Jackson is marketing Kinane, with offers due by September 7.
Kinane is set on the corner of The Esplanade and Kinane Street, fronted by Canary Island palms. The landmark Max Beck-built residence has been extensively renovated since it last sold for a record $11.2 million in 2006.
After its 1988 completion by the then Becton chief, the locals dubbed it the Brighton Town Hall because of its imposing size and prominent position on almost an entire block of the Esplanade.
The six-bedroom four-level house sits on a 3,200-square-metre block in one of Melbourne's finest beachfront reserve locations, with views over Port Phillip Bay.
It has been listed by businessman Russell Small, who retired last year from the board of the telecom and utilities industry services provider Service Stream, and his partner, Belinda Ding.
<img src="/images/stories/salvohome.jpg">
Mario Salvo and his family paid $15.6 million for the Calman family’s waterfront mansion on Glyndon Avenue in the suburb's "Golden Mile" (pictured above). It comes with home theatre, gymnasium, sauna, pool, tennis court and rooftop entertaining area,
It was bought through JP Dixon from the Calmic cleaning chemical magnate Michael Calman and his wife, Mary, who had amalgamated two blocks in the late 1990s after they bought the extra block for about $5 million from developer Adrian Campbell.
Brighton’s third-place sale was when the St Kilda Football Club president Rod Buttress sold in 2007 for $11 million to Catherine O’Halloran, wife of the solicitor John O’Halloran.
Both are hoping the property status will assist in defying economic and share market turmoil with hopes of snaring the record price.
The Salvos’ property has been included in a portfolio of properties JP Dixon will market at the China International Luxury Property Show in Shanghai next month.
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Brighton behemoths battle it out for priciest home crown

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A Perth family has warned about rent-to-buy property schemes after a tenant removed their pool and sold it illegally while they were overseas.
The family had been unable to sell their Quinns Rocks home at their desired $429,999 asking price until they responded to a roadside "we buy homes fast" sign as a last solution.
Under the ensuing deal, the tenant was to pay rent with the intention to buy the home after a year at around the revised $389,000 asking price.
Two weeks later the Clintons, who’d travelled to Ireland for family reasons, got a text message from frantic neighbours saying the pool was gone.
It transpired that the tenant, who had no authority to modify the house, sold the pool and pool fence for $3,000.
The rent-to-buy contract was terminated earlier this year, and the Clintons have since returned to the home.
The Western Australian Consumer Protection Commissioner Anne Driscoll has warned against rent-to-buy schemes, which are promoted as a way to get into the property market or sell in the current slow market.
Driscoll says the rent-to-buy schemes were not linked to the <a target="_blank" title="Nigerian property scam" href="https://www.propertyobserver.com.au/residential/absentee-investor-alert-nigerian-scammers-sell-%24410000-house-they-didnt-own/2011081751195">recent sale of two Perth properties in elaborate Nigerian scams</a>.
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Tenants sell landlords' pool in rent-to-buy swindle

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<img src="/images/stories/scam4.jpg">
It was marketed by LJ Hooker under the ironic headline “LOOKS CAN BE DECEIVING!!!”
And RP Data shows it sold within six days of its initial marketing in March at the lower end of its $410,000 to $440,000 price estimate.
But Perth police now suspect another Nigerian scam has taken place following the sale of a brick Ballajura house in the 6066 postcode 14 kilometres north of Perth.
The $410,000 property had been owned by absentee investors, who’d put it with the LJ Hooker leasing department’s rental pool in 2008 at $400 a week.
The snappily sold house (the marketing said “FIRST TO SEE WILL GRAB IT!”) – settled in April through LJ Hooker Settlements – was done so without the knowledge of the landlord owner, who has since complained to the fraud police. The unknowing buyer has also complained to police as being caught in the scam.
Absentee owners, especially investors with unencumbered titles, ought to be very vigilant given it’s the second time since June 2010 that such a scam has been successfully carried off.
“As far as we are concerned we have done nothing wrong,” the LJ Hooker agent told Property Observer.
The sale seemingly mimicked the 2010 case when another Perth property owner was overseas when his house was sold.
Police say early indications suggest there were a number of similarities to the fraudulent sale of Roger Mildenhall's Karrinyup home last year.
Mildenhall lost his $485,000 home when it was sold by scammers in Nigeria.
He has yet to secure any compensation from the state titles register, Landgate. He was shocked when a neighbour informed him his house had been sold, only to then return to Perth and find his second property was also about to be sold.
Up to 400 WA property title transactions are being re-examined, with the incident bringing the real estate and conveyancing industries under increased scrutiny.
Consumer Protection Commissioner Anne Driscoll has warned there could be more cases that have not yet been detected and urged home owners living overseas to make contact with their real estate agents.
Police believe the estate agents acting for the unknowing owner and buyer of the house were conned by a Nigerian-based scam using fake identification despite heightened Landgate security processes implemented after the first fraudulent sale in September last year.
At the time, Detective Senior Sergeant Don Heise said the emails authorising the sale should have raised alarm bells.
"On most occasions the emails show poor English so that's a very solid point that people should look out for when dealing with sales from overseas," Heise says.
He says real estate agents also need to watch out for changes in personal details, especially the notification of a change of address, email address, home address or telephone number before the sale is registered.
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<img src="/images/stories/scamhouse2.jpg">
Lands Minister Brendon Grylls has told State Parliament he is aware of the new case.
"Thousands and thousands of transactions take place on a weekly basis," Grylls says.
"We've had one confirmed issue on this that has been thoroughly investigated and that investigation is ongoing.
"We now have another allegation at the moment, just an allegation."
Both incidences appear to have begun with a Nigerian-based scammer contacting the property's real estate agent and changing the owner's contact details, possibly using fraudulent identification, before requesting a quick sale to fund a petro-chemical project.
The proceeds of both sales were apparently sent to Chinese bank accounts.
Driscoll says it is disappointing that the agents involved had been fooled by a set of similar circumstances within months of warnings being issued following the first case.
Opposition planning spokesman John Hyde hit out at the government who he said had failed to prevent these types of frauds from occurring.
"The government promised to fix the loopholes that allowed alleged false authorisation documents signed with a child-like signature and witnessed with a stamp purporting to be from the High Commissioner of Lagos Nigerian justice system, to secure a sale,'' Hyde says.
"Yet it's failed to fix all the loopholes that allow these scams to operate'' Perth Now reported.
From July 1, 2011 responsibility for the regulation of the settlement industry was transferred from the Settlement Agents Supervisory Board to the Department of Commerce and the Commissioner for Consumer Protection.
Consumer Protection has advised agents to make further inquiries regarding identity and seek additional evidence whenever there has been a recent change in address or other contact details.
Signatures and initials checks ought to be undertaken if possible.
Agents have been advised to make further inquiries if the transaction originates from overseas especially from countries known for scams, such as Nigeria, or if there is a request for funds to be sent to a different bank account normally used by the client, or to offshore accounts including China.
It also suggests agents to make additional inquiries if the sale is urgent as a result of funds being required for investment in a business venture, or email addresses are generic such as Hotmail, Yahoo or Gmail.
"Ultimately, these steps are no guarantee against fraudulent conduct, but they will minimise the chances of these types of scams being successfully carried out," Driscoll says.
"Agents and lenders are reminded they are obliged to provide their services to existing clients with due care and skill under the Australian Consumer Law, for which a range of remedies are available.
"The Real Estate and Business Agents' Code of Conduct also makes disciplinary action available to agents who fail to provide services with due care and skill."
Driscoll has been reported in the Nigerian press as saying there was no current finding the agents involved in this latest transaction had failed to act with due care and skill, but it serves as a timely reminder of agents' obligations.
Consumer Protection, Landgate, REIWA and AIC will be working intensely and cooperatively to define additional practices in the industry that need to be put into action to minimise the likelihood of property fraud in the future.
“In the past we’ve seen scammers target people trying to sell cars or computer consoles online but now the problem’s hit the real estate market,” says WA Scamnet.
“A bogus buyer, who says they’re based overseas, approaches the seller claiming that they want to buy the house, unit or land being offered for sale.
“They may try to convince the seller they have paid a deposit, perhaps by using a stolen or fake credit card or by sending an email linking to a bogus PayPal transaction.
“The scammer could appear to ‘overpay’ the deposit and ask you to transfer back the overpaid amount.
“Only when the overpayment has been returned will the seller realise that the deposit transaction has been reversed because it was made with a stolen or fake credit card or never existed in the first place because the PayPal email was bogus.”
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Absentee investor alert: Nigerian scammers sell $410,000 house they didn’t own

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The average time it takes a couple to save for their first house deposit has eased to 4.1 years, a slight improvement from 2010’s figure of 4.3 years.
But it is still substantially longer than five years ago, when it took first-home buyers an average of 3.8 years to get onto the property ladder, according to a Bankwest survey. 
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/firsthomechart1large.gif"><img src="/images/stories/firsthomechart1.gif"></a>
Source: Bankwest (Click chart to enlarge)
First-time buyers saving 20% of their annual income in Sydney have to save for the longest period of time (5.7 years) to buy a house, followed by Melbourne (5.4 years), while those living in Brisbane, Adelaide and Hobart don’t have to save for quite as long (all four years) to get a foothold on the property ladder.
In Perth, Canberra and Darwin it would take a first time buyer 4.2 years to save a deposit.
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/firsthomechart2large.gif"><img src="/images/stories/firsthomechart2.gif"></a>
Source: Bankwest (Click chart to enlarge)
Saving to purchase a first home in regional areas takes 2.7 years, according to the report.
“Over the past year, all capital cities have seen a modest improvement in the time it takes a first-home buyer to purchase their first property,” Bankwest senior analyst Tim Crawford says.
“But if first-time buyers located in capital cities around Australia started saving now they would be in a position to purchase their first home in early 2016, whereas in regional areas this would be in autumn 2014.”
The report notes that in the past financial year there were 90,210 first-home buyers across Australia, which was 35% lower than the previous year and represented a seven-year low.
Based on a 20% deposit for the median national house price ($437,500), first-home buyers across Australia would need to save an average of $80,500, compared with $62,100 in mid-2006.
Across capital cities, first-time buyers have to save an average of $93,313, which is $24,613 more than five years ago.
The report notes over the past five years house prices have risen by 27% compared with a 21% increase in wages.
It is based on a 25- to 34-year-old couple saving 20% of their combined pre-tax income annually.
“In order for the property market to prosper there needs to be a consistent number of first-time buyers as historically this has been the catalyst for growth in the sector,” Crawford notes.
For apartments, the longest savings times for a deposit for the median unit are in Sydney (4.1 years) and Melbourne (4.1 years).
The smallest savings times for a unit deposit are in Hobart (2.9 years) and Adelaide (3.1 years).
The data for the First Time Buyer Deposit Report was derived from the Australian Bureau of Statistics census, the ABS Wage Price index with house prices from Residex.
Bankwest’s researchers analysed local incomes of potential first-time buyers – measured by census data on incomes of 25-to 34-year-olds – along with local house and unit prices.
Calculations are based on first time buyers saving 20% of the median house or unit price, including available first home owners’ grants.
Deposit savings times have been calculated on the basis of a first time buyer couple setting aside 20% of their combined pre-tax income annually.
The calculation assumes the savings are deposited in an online savings account each month and earn interest on this basis. Interest earned is assumed to be taxed at an individual’s marginal tax rate.
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Couples save for just over four years for first home deposit

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Prime Minister Julia Gillard seems set for new Sydney accommodation. Not Kirribilli House, the picturesque Gothic-style house on the harbour, but rather her Sydney office premises.
The Commonwealth Parliament offices, which house the prime minister and cabinet when they work in Sydney, is contemplating moving into the newly completed Dexus Property-built oval-shaped building at 1 Bligh Street.
Its current premises are Philip Street offices in Charterbridge House, a 14-storey building completed in 1987. The PM has a wood-panelled office dating back to a $250,000 fitout by Bob Hawke in the late 1980s.
The Commonwealth has confirmed it is considering its leasing options.
It ticks all the right boxes for the federal government.
With solar collectors on the roof, black-water recycling in the basement and fresh air in the 135-metre-high atrium, it appeals to the government’s green predilection.
The $670 million tower has been built to be the first high-rise office to win a six-star rating from the Australian Green Building Council.
And there will be a child care centre at ground level. There are bike racks and shower facilities, but only 96 car spaces.
The Labor government would also be supporting its union mates, as the partners with Dexus Property is the trade union backed superannuation fund CBUS Property.
Law firm Clayton Utz, the anchor tenant, committed in 2008 to about half the space.
The Bligh Street office tower has been to have asking rents for the top floors of about $1,100 to $1300, plus outgoings, according to the Australian Financial Review. This is about the second most-expensive office block in Australia. 
The Commonwealth is tipped to be seeking about 4,000 square metres of space.
Leasing agents are continuing to negotiate tenants for the top floors.
Its website says 1 Bligh offers whole floors of 1,637 square metres and suites of 320 square metres for lease in high-rise levels 17-28 through Rob Dickins at Savills and Mark Tindale and Grant Jennings at Cadigal Office Leasing.
The architects, the Australian practice Architectus and the German firm Ingenhoven Architects, came together for the design competition in 2006.
They were selected by a jury chaired by architect Graham Jahn.
The project cost $227 million, according to the latest annual results issued today.
It indicated 1 Bligh Street was 55% leased with a further 11% under advanced negotiations.
The $667 million development has been forecast to deliver a fully leased yield on cost of 7%.
Annual results released by Dexus today revealed a net profit  after tax of $553 million for the year ended June 30, 2011, an increase of $521.6 million over the previous year.
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Prime Minister Julia Gillard seems set for new Sydney office digs

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{yoogallery src=[images/stories/august16mcivor]}
The luxury Gold Coast abode of the recently resigned managing director of besieged Equititrust, Mark McIvor, has been listed for September 18 auction.
It’s a two-storey riverfront home designed by Sydney-based architect Alex Popov on Cronin Island.
It sits on a 1,736-square-metre block with 50-metre frontage onto the Nerang River.
McIvor, now managing director of Landsolve Partners, built the house on the $1 million block, which he bought from a Tokyo couple, Kensuke Haniuda and Nayumi Yoshida, in 1994.
The island’s highest sale was $8 million in 2004, when an older-style house on 2,300 square metres was sold. 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/residential/paradise-waters-auction-could-put-wind-in-luxury-market-sales/2011081551156">$6,725,000 riverfront sale at Paradise Waters</a>, the highest riverfront sale for three years.
McIvor, who founded the Gold Coast's own merchant bank, Equititrust, in 1993, also owns two other houses on the island. They cost $3.6 million in 2002 and $1.7 million in 2003.
There are just 33 houses on the island, including the much-contested home that is in the name of Nicole Perrin, the former wife of the penniless former Billabong surfwear boss Matthew Perrin. Nicole Perrin is fighting a court battle to stop the Commonwealth Bank repossessing her beloved family home, as she claims her husband forged her signature without her knowledge to borrow $13.5 million against the house when it was valued at $15 million in 2008.
Michael Kollosche, the Ray White Broadbeach agent, has the listing.
Equititrust, which became known for using a Roman voussoir arch as its marketing logo to suggest structural stability, was among the many unlisted mortgage funds to take a battering following the 2008 financial crisis.
In April 2011 Equititrust confirmed it had stopped paying income distributions to unit holders in two funds housing more than $300 million worth of assets as it accelerated its debt repayments to its banks.
The company's financial accounts in 2010 revealed that one of its financiers, the Bank of Scotland (HBOS Australia), had demanded a restructure of its business and merger of the two major funds, in return for an extension of its loan.
The $20 million it owed HBOS at that stage was to become repayable by New Year's Eve last year if the conditions were not met.
Equititrust investors have been through hell with their money frozen for more than three years, with interest payments stopped and the value of their units substantially devalue, and with no end in sight.
Lawyers Piper Alderman continues to investigate the merits of a unit holder class action against Equititrust Limited.
The Equititrust board was restructured in June.
“Just as we are unaware of any other fund manager putting the extent of personal financial support behind investors’ interests that Mark McIvor and his family have with the substantial subordinated investment in EIF, we are also unaware of any other fund manager who has installed a totally independent board to the RE as a further step to ensure proper corporate governance where there could be the possibility of a conflict of interest,” the board announcement noted when McIvor stood down.
“Mark McIvor, the founder of Equititrust and through his family companies the largest unit holder in the Fund, will now focus on exploring a range of opportunities and potential proposals.
“Mark is fully supportive of the restructured board,” it said.
It said McIvor had the full support of the board after his resignation was offered effective from Monday, June 13 2011.
Equititrust has recently repaid $9 million of its $35 million finance facility, but the scheme continues as a non-liquid fund.
Hardship payments of $1,564,151 were made to investors during the period.
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Former Equititrust boss Mark McIvor lists Popov-designed Gold Coast home

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Resort Corp receivers are marketing the troubled company's last major asset -- a vacant oceanfront site beside Jupiters Casino in Townsville.
It was consolidated at a $49.5 million cost in 2007 when bought from Consolidated Properties.
Receivers Ferrier Hodgson have listed the five-lot, 2.9-hectare Airlie Beach development site, which had been earmarked by Gold Coast-based company for its Saltwater apartment project on the Townville Breakwater. 
Receivers and managers Greg Moloney and Will Colwell of Ferrier Hodgson have appointed Colliers International agents Steven McDonald, Neville Smith and Darrell Irwin to  market the site on Sir Leslie Theiss Drive. with offers due September 22.
The holding, which has been subdivided to provide a driveway and five lots ranging from about 4,000 square metres to 9,000 square metres, is being offered for sale either in one line or as individual lots.
The original project was earmarked to develop 570 apartments and more than 1,000 square metres of retail space.
In 2007, Resort Corp boasted a development portfolio on the northern NSW and Queensland coasts totalling $1.35 billion.
Linked to Paul Brinsmead and Peter Madrers, the group was placed in voluntary administration in March 2009, declaring debts of more than $300 million.
The site failed to sell after an expressions-of-interest campaign in September 2010.
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Resort Corp receivers list oceanfront Townsville site for sale

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Australand’s Greenhills Beach project at Cronulla in Sydney’s southern Cronulla has achieved quick success, with 31 of its initial 33 lot offering being sold following marketing over the past two months.
There are 236 lots in the Australand precinct, with blocks ranging in size from 550 square metres to 800 square metres.
The price guide for the first release of lots was between $770,000 and the low-$900,000s, for those closer to the beach.
Greenhills Beach is Sydney’s newest suburb, having its name recently approved by the NSW Geographical Names Board last month.
There are two separate residential developments at Greenhills Beach – one by Australand and the other by Breen Property.
More than 100 prospective buyers have paid a reservation fee to secure an appointment when sales officially opened last weekend.
Some 1,200 registered a buying interest in the Australand lost since June.
Greenhills Beach is positioned between Wanda Beach and Botany Bay, with entry from the main access road of Captain Cook Drive.
There will be direct beach access for the residents.
The Australand NSW residential general manager Nigel Edgar says the masterplanned community had no comparable developments that offered beach access in the Sydney metropolitan area.
“Greenhills Beach combines a beautiful beachside environment with natural fauna and flora that forms part of the coastal landscape,” Edgar says.
The precinct will include more than 90 hectares of public open space, including 10 playing fields – baseball, soccer, hockey, cricket and skate park – along with nature reserves with frog habitat ponds that will be dedicated to the Sutherland Shire Council.
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Shire buyers snap up blocks in Sydney's newest beachside suburb

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<img src="/images/stories/block37.jpg">
The projected priciest offering of the four Richmond houses on The Block is 37 Cameron Street (pictured above), renovated by the hometown couple Jenna and Josh, according to James Buyer Advocates. All four properties go to auction this weekend.
<img src="/images/stories/block41.jpg">
The buyers’ agency deemed 41 Cameron Street (pictured above) a close second – the one renovated by sisters Katrina and Amie, who chose Hocking Stuart Glen Coutinho to sell the house.
The key attribute of the likely top seller is its double-fronted façade.  Ruth Roberts of Woodards is quoting the three-bedroom residence at $900,000 to $990,000. Jenna and Josh won the right to choose which of the four houses they wished to renovate.
The ratings difference between the two was 615 out of 1000 and 595 out of 1000 under the James Buyers Advocates rankings system.
<img src="/images/stories/block39.jpg">
Biggin &amp; Scott sales director Russell Cambridge has marketed the listing for Polly and Waz's house at 39 Cameron Street (pictured above), which has a 535 rating.
<img src="/images/stories/block43.jpg">
The lowest ranking of 502 was given to 43 Cameron Street (pictured above), where Clayton Smith of Jellis Craig represents the contestants Tania and Rod.
“As a bit of fun we rated all The Block properties,” James Buyer Advocates principal Mal James says.
“While all contestants had done some great things, we are not sure we would put any on our shopping list.
“The internals may excite but the externals of no car parking, industrial street and commercial neighbours do not,” James says.
James Home Ratings examines pieces of information about a home and matches them against established buying criteria.
A rating below 550 means the property “has issues.” Between 550 and 650 is at the low end of average. Between 650 and 700 is at the high end of average. Between 700 and 800 is well above average. Between 800 and 850 is the best of its type, and above 850 is a rare gem.
“Nobody can predict with complete certainty the behaviour of each individual buyer or seller in a property exchange – however, it is possible to predict with a high level of certainty how large groups of human beings will react to a home.
“That is, there are a body of facts or truths when systematically analysed that show the operation of general laws with regards to home exchange,” James suggests.
The winner of The Block will be determined by the sale price above its undisclosed reserve, which means all four contestant couples have a chance no matter what rankings buyers agents give their renovated houses.
The winners of the Property Observer competition to win two tickets each to The Block are: 
Kaz Chau, who reckons Josh and Jenna's house will win. “It is the only one of the four which is non-pretentious but oozing simple elegance achieved through their attention to detail of the heritage features juxtaposing modern clean lines and practicality.”
Tickets also go to Will McKellar, who reckons Polly and Waz will win, as “with no experience, great attitude, continuous laughter, when they probably wanted to cry, they had quality  execution and determination for a DIY novice”.
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Double-fronted Richmond cottage set to get the top price, but not necessarily the prize, on The Block

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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