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Klaric Partners, the upmarket Sydney northern beaches estate agency, has joined the McGrath Estate Agents network.
The Klaric agency was established in 1997 by Robert and Leonie Klaric.
“Both Leonie and I are extremely proud of all our achievements since establishing the business and are very excited about the future now with McGrath,” Robert Klaric says.
“The opportunity to merge with McGrath now presented to us an outstanding opportunity to expand our reach and professional services beyond Klaric Partners.”
There will be sales offices at Seaforth and Balgowlah, and Klaric’s property management will be conducted from the McGrath Manly office.
McGrath Estate Agents’ most recent office expansion was the opening of a new office in Newcastle, with principals Alex Myers, Sean Redpath and Andrew Robinson heading the new McGrath office located at The Junction.
The company clocked $5.7 billion in residential sales for the 12 months ending June 30, 2011 from 5,993 properties. This compared with the corresponding $5 billion from 5,095 properties in the previous financial year and $3.25 billion from 3,485 properties in the 2008/2009 financial year.
In the last financial year the group opened four new offices.
Its office network performances included McGrath Wollongong, which sold $77 million from 141 sales, compared with $21 million in financial year 2010.
McGrath Castle Hill sold $155.6 million from 169 sales, compared with $96 million in 2010. McGrath Sylvania sold $97 million from 105 sales, compared with $69 million in 2010. McGrath Hunters Hill sold $361 million from 285 sales, compared with $287 million in 2010. McGrath Parramatta sold $112 million from 192 sales, compared with $92 million in 2010. McGrath Cronulla sold $197 million from 241 sales, compared with $171 million in 2010. McGrath Inner West sold $589.5 million from 573 sales, compared with $568.5 million in 2010.
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jchancellor-FAypfDUnLy

Upmarket Sydney estate agency joins McGrath

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The five-star boutique Hilton Auckland has been put up for sale in an international campaign.
The luxury five-star hotel features 165 guest rooms, plus bar and restaurant and conference facilities, located 330 metres out into the harbour.
Offered for sale by international expressions of interest closing August 24, Dean Humphries, Jones Lang LaSalle Hotels' executive vice-president, has been appointed to sell the property.
Humphries says Hilton Hotels will manage it for the new owner.
Auckland Council records show the Hilton, at 141 Quay St, was valued at $44.6 million in July 2008.
All the wharf properties are on leases set to run for another 84 years.
The top floor of the development is the vast apartment of bankrupt property developer David Henderson, whose Kitchener Group developed all six buildings on the wharf. Henderson still lives in the apartment after failed attempts to sell it for about $10 million.
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Luxury Hilton Auckland on the market

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As dwelling prices fall, household net worth is continuing to decline, according to graphs released by the Reserve Bank of Australia.
It notes that household liabilities remain fairly steady.
The data release from the RBA comes the day after the bank took the unusual step of revealing it considered pushing up interest rates at its board meeting.
It noted it held off primarily because of “acute uncertainty” over debt problems in Europe and the US.
Peter Martin, the Age economic commentator, writes he believes the board had before it an open recommendation from governor Glenn Stevens, meaning it was able to make a decision at the meeting rather than simply accept or reject a recommendation.
Martin writes that the international situation dominated the board’s discussion and a consensus was reached that the outlook was too uncertain to make it safe to increase rates, as RBA staff believe will soon be necessary.
The statement released by the governor after the meeting expressed concern about inflation but noted employment growth was slowing, households were cautious, government spending was abating, credit growth was weak and house prices were soft.
<img style="outline-style: none; outline-width: initial; outline-color: initial; padding: 2px; border: 0px initial initial;" src="/images/stories/rbaaugust33.jpg">
 
The RBA believes inflation is lower than the official figures suggest, giving it more time before acting than market economists appreciate. The latest consumer price index had inflation at 3.6%, beyond the RBA's 2 to 3% target band. Underlying measures of inflation were also high, at a quarterly rate of 0.9%. But the RBA believes those measures were distorted by several unusual price measurements and puts the true rate of inflation at a more moderate 2.5% to 2.75%.
<img style="outline-style: none; outline-width: initial; outline-color: initial; padding: 2px; border: 0px initial initial;" src="/images/stories/rbaaugust32.jpg">
 
The data – a series of graphs that summarise macroeconomic and financial market trends in Australia – would have helped frame the recent speech entitled The Cautious Consumer by the Reserve Bank governor Glenn Stevens at his annual engagement for the Anika Foundation.
In his speech, Stevens said measures of confidence are down and there was an evident sense of caution among households and firms.
“It seems to have intensified over the past few months,” he says.
“There are a number of potential factors to which we can appeal for an explanation of these recent trends. The natural disasters in the summer clearly had an effect on confidence, for example.
“Interest rates, or intense speculation about how they might change, are said to have had an impact on confidence – even after a period of more than a year in which the cash rate has changed only once, the most stable outcome for five years.
“Increasingly bitter political debates over various issues are said by some to have played a role as well,” he says.
“The global outlook does seem more clouded due to the events in Europe and the United States.
“We could note, on the other hand, that the Chinese slowdown we have all been anticipating seems to be relatively mild so far – that country has continued to expand at a pretty solid pace as measured by the most recent data,” Stevens says.
“But these days, mention of the Chinese expansion reminds people that the emergence of China is changing the shape of the global economy and of the Australian economy.
“And structural change is something people rarely find comfortable in the short term, even though a capacity to adapt is a characteristic displayed by the most successful economies.
“So the description of consumers as ‘cautious’ has become commonplace.
“It is not one I disagree with. Indeed the RBA has made such references on numerous occasions over the past couple of years,” Glenn Stevens notes.
<img style="outline-style: none; outline-width: initial; outline-color: initial; padding: 2px; border: 0px initial initial;" src="/images/stories/rbaaugust31.jpg"> 
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Household net worth and dwelling prices continue to fall: RBA

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The naïve, and often cruel, hand of government intervention has shown itself following the raft of state budget initiatives aimed at aiding the property industry.
On June 14 the Queensland Treasurer Andrew Fraser unveiled his $10,000 new home building boost grant.
And the home building industry immediately went dead because its introduction date wasn’t until August 1.
Accordingly Queensland led a national fall in dwelling approvals in June, with an 18.6% fall compared with May.
Urban Development Industry Association Queensland chief executive Brian Stewart says he expects Queensland new home sales to have fallen further in July.
This is flood-devastated Queensland, where the desire for new homes ought be creating record volumes.
Instead there was an immediate restraint shown by Queenslanders.
The Treasurer and his departmental boffins got the desired one-day headlines, but at remarkable cost.
New home approvals in June dropped 18.6% in Queensland, followed by decreases in South Australia of 12.2% and in Tasmania by 8.1%, according to figures released this week by the Australian Bureau of Statistics. There were 1,448 new detached homes approved in Queensland in June, according to the ABS.
Developers claim the mid-June announcement of the $10,000 Building Boost halted sales, threatening not only their cash-flow and also their capacity to embark on new projects.
It's not just the developers caught in the mess.
Builders, architects, estate agents, home ware retailers and so on all caught up in the seven-week-long ripple effect.
There was much exasperation when Property Observer correspondent Andrea Dixon spoke to the Master Builders Association of Queensland chief executive Graham Cuthbert, who says his association members are suffering record liquidations and losses.
“This is astonishing, since 7,000 houses experienced total inundation during the floods and 23,000 sustained water damage,” he says.
Of the 700 quotes the MBAQ prepared for flood-affected housing, only 20 contracts have gone ahead.
Cuthbert believes that the state government flood assistance cap of $80,000 for repairs was too low and people are doing what they can on the cheap and spending the majority of the money elsewhere.
“The government is not insisting the grants go toward a rebuild. People must be taking a holiday with the money, because our members are not getting the work,” Cuthbert says.
Even the fact that the $10,000 boost grant only runs until January 31, 2012 creates distortions and appears far too short a time frame for roll out of such importance.
Ill-considered government meddling with the property markets are nothing new.
NSW property investors will never forget the 2.25% vendors exit tax which last from June 2004 until August 2005.
The vendors tax initiative was potentially a great revenue funding idea – once the freeze on sales ever is defrosted  – but it required a national imposition, as one state going it alone cost NSW heavily to this day.
More recently the Keneally government decided it could coax NSW retirees into selling their oversized houses and downsizing to newly built residences, in a two-year plan aimed at boosting the new homes industry in the June 2010 budget.
It ignored the fact that the elderly generally don't like making complicated financial decisions. They don't want to leave their neighbourhoods and certainly not for greenfield developments. It ignored the fact that elderly are wary of off-the-plan, and perhaps even of new homes.
But the over-65s were being offered stamp duty savings up to $22,490 to encourage them to move into newly constructed houses and units, off-the-plan acquisitions, and house-and-land packages.
The senior downsizers will pay zero stamp duty on property purchases up to $600,000.
NSW Treasury expected between 1,000 and 2,000 seniors over 65 to take up the offer annually following its July 1, 2010 start date.
But just 249 retirees had taken up the stamp duty-saving initiative in its initial 10 months.
The scheme was billed as an Australian first by the then premier Kristina Keneally.
The incoming O'Farrell government has extended the scheme to people aged 55 years or older, which ought to increase the numbers marginally.
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State government initiatives cost the housing market dearly

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The 2261 postcode – on the Central Coast in New South Wales – dominates the list of the top 10 longest property listings produced by SQM Research.
The listings date back to 2008.
The listings are at Long Jetty and Magenta.
“SQM Research has explored this theme before and what we have found most interesting is that often the properties that have been sitting on the market the longest aren’t actually the most discounted,” says SQM director Louis Christopher.
“In fact, only one of the properties featured in the list has featured in our top 10 most discounted properties at Swan View.
“Most of the stale homes have only been discounted minimally if at all,” Christopher says.
Some of these properties might have been withdrawn temporarily and put back on the market at some point during the time they have been listed, he says.
“It’s almost considered common sense – not only to the astute investor that if your property is not selling after a considerable amount of time on the market, it may be a good idea to lower your asking price.
“When you have properties such as <a target="_blank" title="188 Liverpool ROad, Goolwa" href="https://www.domain.com.au/Property/For-Sale/House/SA/Goolwa-North/?adid=2006953157">188 Liverpool Road Goolwa</a>, which have been sitting on the market for over 1000 days yet only discounted by 16%, one can't help but feel very little sympathy for vendors who obviously can see that their current asking price isn't working for them and still refuse to bite the bullet and slash it,” Christopher says.
1
<a target="_blank" title="11 Ottiwell Street" href="&lt;http:/sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007103693">11 Ottiwell Street, Woorim, QLD, 4507</a>
On the market since: April 19, 2008
Initial asking price: $560,000
Current asking price: $499,000
Reduction: 11%
Days on market: 1,192
 
<h2 style="outline-style: none; outline-width: initial; outline-color: initial; font-size: 18px; font-family: Georgia, Utopia, Palatino, 'Palatino Linotype', serif; line-height: 21px; padding: 0px; margin: 0px;">2</h2>
<h2 style="outline-style: none; outline-width: initial; outline-color: initial; font-size: 18px; font-family: Georgia, Utopia, Palatino, 'Palatino Linotype', serif; line-height: 21px; padding: 0px; margin: 0px;"><a target="_blank" title="188 Liverpool Road" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2006953157">188 Liverpool Road, Goolwa, SA, 5214</a></h2>
On the market since: April 24, 2008
Initial asking price: $950,000
Current asking price: $800,000
Reduction: 16%
Days on market: 1,187
 
<h2 style="outline-style: none; outline-width: initial; outline-color: initial; font-size: 18px; font-family: Georgia, Utopia, Palatino, 'Palatino Linotype', serif; line-height: 21px; padding: 0px; margin: 0px;">3</h2>
<a target="_blank" title="19 Wellington Street" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007854879">19 Wellington Street, Oatlands, TAS, 7120</a>
On the market since: May 22, 2008
Initial asking price: $260,000
Current asking price: $205,000
Reduction: 21%
Days on market: 1,159
 
<h2 style="outline-style: none; outline-width: initial; outline-color: initial; font-size: 18px; font-family: Georgia, Utopia, Palatino, 'Palatino Linotype', serif; line-height: 21px; padding: 0px; margin: 0px;">4</h2>
<a target="_blank" title="1403 Magenta Drive" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007162731">1403 Magenta Drive, Magenta, NSW, 2261</a>
On the market since: May 22, 2008
Initial asking price: $600,000
Current asking price: $535,000
Reduction: 11%
Days on market: 1,157
 
<h2 style="outline-style: none; outline-width: initial; outline-color: initial; font-size: 18px; font-family: Georgia, Utopia, Palatino, 'Palatino Linotype', serif; line-height: 21px; padding: 0px; margin: 0px;">5</h2>
<a target="_blank" title="290 Viveash Road" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007193295" style="outline-style: none; outline-width: initial; outline-color: initial; text-decoration: underline; color: #6888b1;">290 Viveash Road, Swan View, WA, 6056</a>
On the market since: June 5, 2008
Initial asking price: $2.29 million
Current asking price: $1.5 million
Reduction: 34%
Days on market: 1,145
 
 
<h2 style="outline-style: none; outline-width: initial; outline-color: initial; font-size: 18px; font-family: Georgia, Utopia, Palatino, 'Palatino Linotype', serif; line-height: 21px; padding: 0px; margin: 0px;">6</h2>
<a target="_blank" title="4/57-59 Eloora Road" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007886563">4/57-59 Eloora Road, Long Jetty, NSW, 2261</a>
On the market since: June 5, 2008
Initial asking price: $379,000
Current asking price: $340,000
Reduction: 10%
Days on market: 1,143
 
<h2 style="outline-style: none; outline-width: initial; outline-color: initial; font-size: 18px; font-family: Georgia, Utopia, Palatino, 'Palatino Linotype', serif; line-height: 21px; padding: 0px; margin: 0px;">7</h2>
<a target="_blank" title="1302 Birkdale Place" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007217761">1302 Birkdale Place, Magenta, NSW, 2261</a>
On the market since: June 17, 2008
Initial asking price: $700,000
Current asking price: $500,000
Reduction: 29%
Days on market: 1,131
 
<h2 style="outline-style: none; outline-width: initial; outline-color: initial; font-size: 18px; font-family: Georgia, Utopia, Palatino, 'Palatino Linotype', serif; line-height: 21px; padding: 0px; margin: 0px;">8</h2>
<a target="_blank" title="15/57-59 Ocean Parade" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007897626">15/57-59 Ocean Parade, The Entrance, NSW, 2261</a>
On the market since: June 19, 2008
Initial asking price: $289,000
Current asking price: $259,000
Reduction: 10%
Days on market: 1,129
 
<h2 style="outline-style: none; outline-width: initial; outline-color: initial; font-size: 18px; font-family: Georgia, Utopia, Palatino, 'Palatino Linotype', serif; line-height: 21px; padding: 0px; margin: 0px;">9</h2>
<a target="_blank" title="30 Charles Street" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2006717702">30 Charles Street, Triabunna, TAS, 7190</a>
On the market since: June 22, 2008
Initial asking price: $235,000
Current asking price: $195,000
Reduction: 17%
Days on market: 1,128
 
<h2 style="outline-style: none; outline-width: initial; outline-color: initial; font-size: 18px; font-family: Georgia, Utopia, Palatino, 'Palatino Linotype', serif; line-height: 21px; padding: 0px; margin: 0px;">10</h2>
<a target="_blank" title="22 Beach Street" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2006781491">22 Beach Street, White Beach, TAS, 7184</a>
On the market since: July 1, 2008
Initial asking price: $250,000
Current asking price: $195,000
Reduction: 22%
Days on market: 1,119
SQM Research also offers a list of the <a target="_blank" title="SQM Research" href="https://www.sqmresearch.com.au/top100bargains.php" style="outline-style: none; outline-width: initial; outline-color: initial; text-decoration: underline; color: #6888b1;">Top 100 Biggest Bargains in Australia </a>for sale.
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NSW Central Coast dominates top 10 longest property listings

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{yoogallery src=[images/stories/august3barnesy]}

Rock legend Jimmy Barnes and his wife, Jane, have listed their NSW Southern Highlands riverfront weekender, Riverbend, at Berrima with $2.5 million hopes.

The Barneses, who live in a Botany warehouse compound, just don’t make enough use of the sandstone house on 2,758 square metres, especially now that’s Jimmy’s back on the tour road.

The Berrima house cost the Cold Chisel frontman $1.85 million in 2008.

Gwen Meredith, the scriptwriter for Australia's longest-running and much-loved radio serial Blue Hills, once owned the property on the Wingecarribee River, a retreat from her Seaforth home, Braybrook.

It is located in a quiet setting just a short stroll from the historic village.

Listing agent Drew Lindsay at Drew Lindsay Bowral describes it as three solid sandstone pavilions linked by long covered verandas that jut over the river.

It features a renovated cook's kitchen, four bedrooms and bathrooms, a pool, a jetty, and stone walkways through established gardens.

Notably missing is a recording studio, a feature in Barnes' current Botany property and his earlier Southern Highland retreat.

<h2>Properties you may be interested in:</h2>

[smartcode_project:default project_id=24323]

[smartcode_project:default project_id=6912]
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Jimmy Barnes lists Highlands weekender on eve of Cold Chisel tour

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Property prices continue to fall as preliminary estimates show that the price index for established houses for the eight capital cities decreased 1.9% in the year to June quarter 2011.
Annually house prices decreased in Perth by 4.1%, Brisbane by 3.6%, Darwin by 3.0%, Adelaide by 2.1%, Melbourne by 2%, and Sydney by 0.7%.
The only two cities to record a rise were Hobart, where prices rose 2.8% and Canberra, where prices rose 2.2%.
In the June quarter the price index for established houses for the eight capital cities decreased 0.1%.
The capital city to decrease for the quarter were Perth, -1.0%, Adelaide -0.8%, Brisbane -0.3%, Melbourne -0.1%, Darwin -1.6%, and Hobart -0.1%.
Sydney prices were up 0.4% for the quarter, and Canberra’s prices were up 1.1% in the June quarter, the only two capital cities to record rises.
Westpac notes the official ABS measure of house prices was somewhat surprisingly more stable than private sector measures in the June quarter.
With prices down 1.9% for the year, it was a touch better than most private sector measures.
“The ABS index is not our preferred benchmark for prices or price inflation as it is prone to revision, only covers detached homes and often exaggerates price swings when there are compositional shifts,” Westpac says.
“Private sector measures suggest prices were a touch soggier in the June quarter with declines of between 0.6% quarter and 1.7% quarter.
“The variation across capital cities was consistent with private sector measures,” it notes.
Westpac notes that previous estimates had been revised.
The national index showed a 1.1% fall in the March quarter revised from the preliminary 1.7% fall published previously.
Monique Sasson Wakelin, managing director of property investment advisors Wakelin Property Advisory, says the index for the June quarter was further evidence that the dire predictions of a rout in property prices in 2011 had not occurred.
“Taking the capital cities together, property prices have fallen just 1.9 per cent over the last 12 months,” Sasson Wakelin says.
“After all the talk of ‘bubbles bursting’, a ‘collapse in prices’ and the ‘market in peril,’ we can see that nothing of the sort has happened. Rather, property prices have softened mildly in the last 12 months after a strong run in 2009 and early 2010.”
The latest ABS data reinforces evidence of a slightly softer market emanating from the commercial data providers, according to Sasson Wakelin.
“There is a great similarity between the results coming out ABS, RP Data, Residex and Australian Property Monitors. They are all reporting a small annual fall in national or capital cities prices of somewhere between 1 and 2%.”
 <table style="width: 470px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="109" valign="top">
Provider
</td>
<td width="184" valign="top">
Quarterly change
</td>
<td width="304" valign="top">
12-month change
</td>
</tr>
<tr>
<td width="109" valign="top">
ABS
</td>
<td width="184" valign="top">
-0.1%
</td>
<td width="304" valign="top">
-1.9%
</td>
</tr>
<tr>
<td width="109" valign="top">
RP Data Rismark
</td>
<td width="184" valign="top">
-0.90%
</td>
<td width="304" valign="top">
-2.00%
</td>
</tr>
<tr>
<td width="109" valign="top">
Residex
</td>
<td width="184" valign="top">
-0.83%
</td>
<td width="304" valign="top">
-1.19%
</td>
</tr>
<tr>
<td width="109" valign="top">
Australian Property Monitors
</td>
<td width="184" valign="top">
-0.80%
</td>
<td width="304" valign="top">
-2.00%
</td>
</tr>
<tr>
<td width="109" valign="top">
Average of four reports
</td>
<td width="184" valign="top">
-0.66%
</td>
<td width="304" valign="top">
-1.77%
</td>
</tr>
</tbody></table>
Source: Wakelin Property Advisory
Sasson Wakelin says she hopes the recent data might give the property debate a less shrill tone. “There have been a few commentators out there who have enjoyed their Chicken Little role, predicting that the sky is falling in on property. It is not and less sensationalism from these parties would be a more credible position.”
“I anticipate the market will continue to track sideways until at least the end of 2011. Unless a major hike in interest rates or a GFC Mark II materialises, I expect this stability will underpin confidence and possibly give prices a lift in 2012 off the back of strengthening demand. Smart investors and first home buyers should be seizing the current opportunity.”
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House prices continue to fall in June quarter

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The asking price for the Auckland average house fell by 2% in July to $NZ522,803, but Auckland home buyers are facing a looming shortage of available properties.
Despite the small drop in prices, the New Zealand Real Estate Institute is heralding a return to a sellers’ market, given the speed at which houses are now being purchased.
There were 8966 new listings in July, 11% fewer than the same month last year, but the estimated time to sell has decreased.
The number of weeks to clear available inventory was down to 24 weeks, some 33% lower year on year, which realestate.co.nz chief executive Alistair Helm said indicated an emerging sellers’ market.
At the end of July the available inventory was 10,685 properties across Auckland, Helm says.
"In the space of four months, Auckland has moved from being a buyer's to a seller's market," Helm says.
"If you go back to the early part of the year you had inventories up at about 50 weeks, well above long-term average."
The NZ national average for clearing inventory was down 18% year on year to 38 weeks.
"Auckland remains the epicentre of this trend and where available inventory of property for sale is the lowest seen since this recent property malaise began back in 2007," said the report .
There were only 295 new listings in Auckland's apartment market - a 15% fall year on year - with an average asking price of $340,344.
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House prices down slightly in Auckland, but housing shortage looms

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Brisbane appears to be the frontrunner for the next location in the international Jamie’s Italian restaurant chain being set up by Britain's Jamie Oliver.
The Pacific Restaurant Group director Adam Heathcote confirmed a representative of Jamie's Italian International had been in Australia looking at its next site, including two strong prospects.
It is set to open Australia's first Jamie’s Italian on Sydney's Pitt Street (pictured) in October.
PRG holds a franchise for the brand in Australia and New Zealand.
Adam Heathcote confirmed to The Australian food writer John Lethlean that the organisation had a hot prospect.
The speculation was also that there could be another Sydney eatery, with a Melbourne location also mooted.
"As far as Melbourne's concerned, it's really a matter of identifying the right site more than anything else," Oliver told Lethlean.
Due to open its doors in October, Australia's first Jamie's Italian will seat 180 with a mezzanine floor that includes an antipasto bar.
Its head chef David Clarke, who graduated from PRG's Chophouse, is in Britain for further training.
Jamie Oliver has defied the European recession by cooking up a 170% rise in profits at his restaurant empire, according to the London Mirror newspaper.
Figures reveal his chain of 25 Italian eateries made £4.6 million in 2010 – up from £1.7 million the year before.
Jamie also raked in £8 million from books and TV shows – up 40% on 2009. It means he is now worth an estimated £100 million, the Mirror reports.
Oliver, the Channel 4 star, is planning to use some of the cash to open more restaurants across Britain including one opposite rival Gordon Ramsay near St Paul’s Cathedral in London as well as one in Dubai.
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Jamie Oliver rumoured to have a taste for Brisbane

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The stately Sydney mansion Boronia House in Mosman has become available for 10-year lease, with the new tenant set to take occupancy in April 2012 after conservation works are undertaken by Mosman Council.
It has been a popular restaurant and function centre for many years. The Victorian filigree-style mansion sits on a 2,400-square-metre Military Road block and comes with 500 square metres of internal space plus verandas of 140 square metres.
Boronia is one of two almost-identical neighbouring freestanding houses built by two Newtown carriage builders, James and John Keary, as residences for themselves with a common garden and entrance.
It was designed by Sheerin &amp; Hennessy in 1885, with a Clive Lucas &amp; Partners restoration in 1985.
The 1890s depression hit the Keary business so badly that all their houses had to be sold.
Boronia House remained virtually unaltered until it was acquired by Mosman Council in 1952, at which time it was considerably modified for occupation by the Mosman Municipal Library.
Between 1978 and 1985 the building was used as offices and further altered. During 1985 Boronia was restored, reconstructed and adapted for use as a restaurant.
Expressions of interest close with council August 24, but they do not require any rental figure offer at that state of the tender process.
The other Keary residence was Telopea on Cowles Road, which is now altered, and its garden has been removed and now used as a car wash.
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Heritage Mosman restaurant premises available for lease

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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