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The next series of Channel Nine's hit renovation show, The Block, seems set for South Melbourne, with the television show production company spending some $3.8 million on four unrenovated terraces.
<img src="/images/stories/blocksouthmelb2.jpg">
The Dorcas Street terraces have potential for a third-storey addition which will have city views, and the installation of front balconies.
The current series of The Block, in Richmond, Melbourne, has been a ratings winner for Channel 9, although the renovators will face a testing auction market.
Historically known as Emerald Hill, the South Melbourne area was first settled by Europeans in the 1840s. During the Victorian gold rush of 1851 a tent city known as Canvas Town was established.
The district remains notable for its well-preserved Victorian-era streetscapes.
The four terraces, which are diagonally opposite former 1877 hotel The Star and Garter, have been tightly held, with the last-known recorded sale being at about $360,000 in 1999.
The Catholic church of Father Bob Maguire, St Peter and St Paul, overlooks the acquisition, which sold through Buxton Albert Park agent Karl Gillon pre-auction.
The terraces have three bedrooms and one bathroom each, with just the one terrace on the Montague Street corner coming with off-street car parking.
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jchancellor-FAypfDUnLy

The Block sticks with made-in-Melbourne formula 

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Swashbuckling West Australian property developer Warren Anderson has been bankrupted.
His fortune – estimated at $190 million by BRW in 1989 – had been amassed over 20 years spent consolidating supermarket sites for Coles and speculative office market construction.
He invested his profits into his passion for trophy properties filled with the finest of antiques. He was also passionate about animal welfare and preservation.
“You don't get a feed in the bush by making a lot of noise as you go through," Anderson once said of his predilection for privacy.
But when Anderson had issues with bankers knocking on his front door after the 1990s property downturn, the tycoon famously fought to maintain his Elizabeth Bay residency, the Spanish Mission-style trophy home Boomerang, on the front page of the Sydney Morning Herald.
Boomerang had been repossessed by the Bank of New York in 1993 but Mr Anderson's security guards briefly took over the property before the bank regained possession after a $56 million demand notice.
Boomerang was then auctioned after a last-minute court challenge failed to stop the mortgagee sale.
The Bank of New York also started proceedings over another Anderson property, the historic Fernhill mansion at Mulgoa in Sydney's outer west, but Anderson managed to maintain its ownership.
Anderson, whose developments include about 70 shopping centres, six office towers and Northern Territory's parliament house, was almost brought to his financial knees by the Rothwells-Westralia Square fiasco.
Builder Warren Sizer was the petitioning creditor at the June 21 sequestration hearing with Mark Conlan appointed his insolvency trustee.
Sizer launched proceedings over unpaid bills for work on a half-finished Johnston Street, Peppermint Grove project.
Anderson has put the bankruptcy down to losing control of his finances after receivers took over all the family trust assets following a messy public divorce.
Receivers Korda-Mentha have now placed Fernhill, his $50 million plus place of residence, for sale through Colliers. The antique contents were auctioned last year.
During the early proceedings with Sizer, he showed unusual signs of weariness towards the ongoing court battles and lawyers' fees.
"If you don't have money, you don't get justice because the lawyers absolutely devastate you with fees," he suggested.
Now he concedes: “The whole bloody shooting match is up in the air and beyond my control.”
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WA property tycoon Warren Anderson bankrupted

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The property development industry’s pursuit of sustainable development practices is years ahead of other industries, yet this has not been rewarded with any government compensation scheme for the carbon tax, the Urban Development Institute of Australia says.
“New home buyers who make a concerted effort to embrace sustainability, such as the purchasing of energy-efficient homes, should not be subject to the effects of a carbon tax,” UDIA national president Peter Sherrie says.
“The carbon tax should not increase the price of energy-efficient new homes, whilst energy-inefficient existing homes remain unaffected.
“New homebuyers should be compensated for the increased costs of new housing resulting from a carbon tax, by a compensation scheme that extends beyond the realm of carbon emissions and rewards sustainable behaviours and practices as a whole.
“The development industry has played a major role in achieving higher levels of environmental sustainability beyond compliance in recent years through nationally recognised sustainability benchmark rating systems,” Mr Sherrie says.
The government has forgotten about home buyers, according to the Real Estate Institute of Australia (REIA) in its response to the announcement of a new carbon tax.
“The cost of construction of new housing is expected to increase by around $5000 on a new home, according to initial estimates, which can be expected to flow on to the price of existing homes,” says REIA acting president, Pamela Bennett.
“The cost of undertaking renovations for existing homeowners will also increase, with the average kitchen and bathroom renovation to increase by around 2%,” Ms Bennett says.
“When the GST was introduced in July 2000, first home buyers were compensated with the introduction of the first home owner grant.
“Similar compensation to offset the impact on increased costs of building would have been appropriate.”
The government’s proposed carbon tax will hurt homebuyers and small business without any upside for the construction industry, according to Master Builders Australia.
“There is nothing in it for homeowners, small business and the building industry,” says Wilhelm Harnisch, Master Builders Australia chief.
Based on recent independent modelling, the carbon tax is calculated to reduce total building and construction industry output by about 2.5% or $5 billion per annum.
“It is a cascading tax that will flow through the supply chain, adding cost at each point that will hit home buyers and small business,” Mr Harnisch says.
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Carbon-conscious homebuyers should be spared tax: industry bodies

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Waimea House, a Federation Arts and Crafts style residence in Tasmania’s second-priciest suburb, Sandy Bay, has sold for a record $6.06 million.
It has been bought by Sydney property developer Piers Dawson-Damer and his wife Kim.
The couple had moved to Tasmania after selling their Rose Bay, Sydney home to entrepreneur Frank Tagg, the former Western Suburbs first grade footballer who made his money from McDonald's franchises and more recently from his part-ownership of stallion prospect Haradasun.
Waimea was sold by prominent Hobart family, the Nettlefolds, who then sold $1 million-plus of its contents through Mossgreen Auctions.
The Nettlefolds had consolidated the four-block amalgamation over the past 70 years.
The late Len Nettelfold, a successful businessman and Australian amateur golf champion, was the son of Tasmanian Motors founder Robert Nettlefold. The family had the General Motors dealership on the island, which was subject to a 1982 takeover bid by then young entrepreneur Christopher Skase, who made a reputed $1.5 million plus from his brief foray.
The Sandy Bay property was marketed as Hobart's most prestigious and distinguished residential estate by Brian Watchorn of Charlotte Peterswald for Property.
“This landmark property occupies the finest position in Hobart with stunning harbour views, complete privacy and surrounding land with an overall area of 9,726 square metres or thereabouts,” the brochure says.
There is a pool, tennis court, and a smaller second residence with Art Deco influences.
It is believed the highest previous sale was $3.1 million for a Sandy Bay waterfront in 2007.
The median price in 2010 was $665,000 according to the Real Estate Institute of Tasmania from 144 house sales, compared with Battery Point’s $890,000 median from 20 sales.
Tasmania's Bishopscourt on the Sandy Bay hillside was sold in 2004 for about $1.5 million to Melbourne businessman Herman Rockefeller, who was later murdered.
Piers Dawson-Damer’s father was motoring enthusiast and one-time Australian rally championship navigator John Dawson-Damer, who died in a racing accident in England in 2002. His mother Ashley is one of Sydney's most popular social figures.
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Waimea House sale for $6.06 million eclipses Tasmanian record

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<img src="/images/stories/flagtitletat.jpg">Australia’s headline sale during the past financial year was $53 million on Wolseley Road in Point Piper. Villa Veneto, a five-storey Italianate Palladian villa, was sold by recruitment entrepreneur Andrew Banks and his wife Andrea for $53 million through LJ Hooker Double Bay agent Bill Malouf (below).
<img src="/images/stories/bill-malouf-cropped.jpg">
Following the sale he was dubbed the undisputed king of Sydney real estate by the Daily Telegraph, which reported he had made $298 million in sales over the past year. The August exchange, reported in September, was with dentist David Penn and his wife Linda. They settled on Valentine's Day following the payment of the second installment of $44 million to finalise the deal.
Designed by the architect Michael Suttor, the six-bedroom house sits on a 1426-square-metre block, set over five levels. Finished in 2004, it took more than two years to build and possibly $10 million to complete. Although they have taken nearby rental accommodation, Banks spends much of his time working in Hong Kong. Shareholders in his recruitment company Talent2 were advised by the chairman, Ken Allen, that Banks would spend considerable time in Asia working with Hong Kong-based non-executive director Ken Borda.
Banks recently spent $4.8 million on a central Mid-Levels district apartment representing about $26,000 a square metre. The 32nd-floor apartment on Hong Kong Island last sold in 1992 for $1.08 million, reflecting 8.4% annual growth. It first sold on completion in 1991 for $760,000, representing 10% annual growth. Villa Veneto was built after the couple bought the 1424sqm holding for $14 million in 2001, when they gave their address as Trump Tower, New York.
The moving vans came in February, when there was no doubt plenty of Louis Vuitton luggage heading into the imposing mansion – David Penn's passion for vintage luggage is evident at his Double Bay showroom.
The other prestige Point Piper listing, Altona, remains listed for sale through Ballard Property agent Bill Bridges and Bill Malouf and their executive assistants, Meagan Cotten and Emma Prgomelja, with whispers of $50 million-plus interest.
<img src="/images/stories/flagtitletat.jpg" style="outline-style: none; outline-width: initial; outline-color: initial; padding: 2px; border: 0px initial initial;">Title Tattle aims to tell you as soon as we know – often before it happens – so that rumoured prestige sale in Perth has now been confirmed at $13.25 million in the suburb of Applecross. Its Perth’s dearest sale for about two years. The sale betters the suburb’s $11.75 million record, set in 2008, through repeat record-setting agent William Porteous, who wouldn’t reveal its buyer. But Title Tattle now gleans it’s big home builder Ross North and his wife, Catherine, whose nearby house has been listed through Banovich &amp; Hillman.
 
<img src="/images/stories/flagtitletat.jpg" style="outline-style: none; outline-width: initial; outline-color: initial; padding: 2px; border: 0px initial initial;">With pedigree in almost every petal, Kennerton Green (below) ranks among the country's finest garden properties, and it sold recently through Bowral agent Drew Lindsay to Sydney businessman Matthew Csidei and his wife, Lauren Roscoe, for about $1.8 million.
<img src="/images/stories/kennerton3-cropped.jpg">
The magnificent 2.2-hectare Mittagong property, which is Australia's only 20th-century listing in The Oxford Companion to the Garden, was listed for sale by the Ireland family. It comes with a four-bedroom, four-bathroom residence but it's the gardens, which date back more than 100 years, that steal the show. Its past owners include international gardener Marylyn Abbott, of West Green House in Hampshire – an 18th-century English property she rescued. Before her were Lady Susan Renouf, who bought it for $690,000 in 1986 from Lady Marjorie Pagan – the widow of the late Sir John Pagan, whose famous guests left plaques to commemorate their visits. A copper beech in the front yard was planted by Princess Margaret, a catalpa by Dame Pattie Menzies and a maple by Margaret Thatcher.  
<img src="/images/stories/kennerton2-cropped.jpg">
The neighbouring garden property with pavilion (above) remains listed through Lindsay.
 
 <img src="/images/stories/flagtitletat.jpg" style="outline-style: none; outline-width: initial; outline-color: initial; padding: 2px; border: 0px initial initial;">Sahba and Soheil Abedian's Sunland Group take the cake for the culmination of three woeful Sydney acquistions which have all ended in tears, and little shareholder joy. 2010 kicked off when they sold its 107-hectare Tahmoor property, best remembered as the Jay-R Stud, for $4.5 million having been bought from Ross Cribb, former NSW TAB chairman and TNT general manager, for $14.5 million in 2004. Then its luxury Birchgrove apartment complex (below) finally sold out.
<img src="/images/stories/birchgrove-cropped.jpg">
It was 2008 when songstress Kate Ceberano entertained guests at the launch of the six luxury Louisa Road units, which were priced from $6.25 million to $10.8 million. The initial asking prices totalled $48 million, and when the final unit sold last September they had recouped $26.3 million in sales, having paid $13.7 million for the land in 2004. Sunland’s pitiful year was topped off most recently when it sold its Cronulla beachfront residential development to the Mondell development group for $10.2 million. The site had cost $13.4 million to amalgamate between 2007 and 2008.
 
 <img src="/images/stories/flagtitletat.jpg" style="outline-style: none; outline-width: initial; outline-color: initial; padding: 2px; border: 0px initial initial;">It’s perhaps the highest price drop recorded in the recent downturn in Sydney’s eastern suburbs, reflecting a 32% price deterioration over the past three years. It was June 2008 when stockbroker Walter Lewin spent $7.5 million in Double Bay. It was bought from Clare Mulham, the daughter of savvy entrepreneurs Bill and Imelda Roche.
<img src="/images/stories/transvaal-cropped.jpg">
The four-bedroom, four-bathroom Transvaal Avenue residence (above) has been resold for $5.1 million to the Li family.
 
<img src="/images/stories/flagtitletat.jpg" style="outline-style: none; outline-width: initial; outline-color: initial; padding: 2px; border: 0px initial initial;">Queensland’s highest sale price was $10.3 million for the award-winning "H House" at Hamilton, designed by Brian Donovan of Donovan Hill. It’s a real riverfront knockout home. Built for developer Steve Tyson and his wife Karen it won the Royal Australian Institute of Architects National Award for Residential Architecture. It was initially listed for sale in late 2009.
 
<img src="/images/stories/flagtitletat.jpg" style="outline-style: none; outline-width: initial; outline-color: initial; padding: 2px; border: 0px initial initial;">Retired Myer executive chairman Bill Wavish and his wife Yvonne doubled the size of their Kurraba Point, Neutral Bay holding, spending just $8.3 million. The couple had bought the other half of the dual harbourfront townhouse project for $12 million in 2007. The development was undertaken Adam Tolhurst and the longtime Sydney Flying Squadron director Sam Jackson who kept his contemporary townhouse until its recent sale. The development cost $6 million in 2004 when bought from Garry Rothwell's Winten Property Group. Winten had paid $5.1 million in 2000 when the vacant 530-square-metre block was bought from retired solicitor Morgan Ryan. Jackson had wanted $10 million. The unit has been listed for $4500 a week rental.
 
<img src="/images/stories/flagtitletat.jpg" style="outline-style: none; outline-width: initial; outline-color: initial; padding: 2px; border: 0px initial initial;">The Hemmes hotelier clan did well with their $12.6 million purchase of Kianga (below), a five-bedroom Federation house in Vaucluse on the hillside overlooking Sydney Harbour.
<img src="/images/stories/kianga-cropped.jpg">
More than $15 million had been sought for Kianga, which had previously sold in 1989 for $6.2 million, thereby reflecting 3.5 per cent annual growth during the 21 years of Linz ownership. It was freight tycoon-turned-art collector Pat Corrigan who secured the sale just before the early-1990s downturn, scoring an impressive 30% annual growth during his eight-year tenure. The 21-room Kianga was known as Ormond Hall when it traded as Sydney's finest private hotel after being opened in the early 1950s by the Allen family.
 
<img src="/images/stories/flagtitletat.jpg" style="outline-style: none; outline-width: initial; outline-color: initial; padding: 2px; border: 0px initial initial;">The Cowley family took a hit as they exited Mosman to put all their energies into their Hunter Valley vineyard venture. They bought in early 2008 at $5.5 million and sold recently for $4.41 million to the Gale family.
 
<img src="/images/stories/flagtitletat.jpg" style="outline-style: none; outline-width: initial; outline-color: initial; padding: 2px; border: 0px initial initial;">All eyes turned to the Ginahgulla Road, Bellevue Hill hillside following news that businessman Michael Darling had spent $14 million on a luxury condominium site at North Bondi. But his current trophy home isn’t likely to hit the market for some years yet. The oceanfront Ramsgate Avenue redevelopment project, to be undertaken by his son-in-law, architect Nick Tobias, will surely take until almost 2013 for completion. The chairman of Caledonia Investments and his wife, Manuela Darling-Gansser, have resided in colonial Georgian revival grandeur since paying $8.24 million in 1991, when the property was bought from merchant banker James Yonge through Double Bay agent Jane Ashton. It had been built in 1935 to a Hardy Wilson design for Jean Flynn, the grand-niece of George Adams, the Tattersall’s Sweepstake founder. The couple’s North Bondi acquisition was bought from retired IT entrepreneur Neill Miller through Raine &amp; Horne agents Martin Maskin and Mary Anne Cronin. Set on the rock shelf known as Mermaid Rocks, the building now comprises 10 apartments that Miller consolidated at a cost of $14 million between 2006 and 2008.
 
 <img src="/images/stories/flagtitletat.jpg" style="outline-style: none; outline-width: initial; outline-color: initial; padding: 2px; border: 0px initial initial;">Prestige sales have been thin in the Southern Highlands, although retired Compaq executive Ian Penman and his wife, Ayesha, finally sold their Sutton Forest holding, The Chase. The restored and extended five-bedroom 1880s house, which sits on 40 hectares, sold through Bill Carpenter from W. Mcl Carpenter &amp; Associates at Bowral. Its sale price has not been revealed, although the recent marketing indicated the $7 million expectations sought in October 2010 were not being pursued. It had been listed in 2007 with double-digit million hopes and local agents considered a $6 million selling target more achievable, given there had been just three sales at $5 million or higher across NSW’s Highlands since mid-2008. Former AMA boss Bruce Shepherd and his wife Jenny are the latest to try their luck, listing Dalway (below) with $7.3 million hopes through Drew Lindsay Real Estate, and Richardson &amp; Wrench Bowral agent Michael Maloney.
<img src="/images/stories/dalway-cropped.jpg">
The orthopedic surgeon and moleskin millionaire has been a long-time devotee of the highlands lifestyle, so Title Tattle imagines the couple are downsizing.
 
<img src="/images/stories/flagtitletat.jpg" style="outline-style: none; outline-width: initial; outline-color: initial; padding: 2px; border: 0px initial initial;">And don’t say Title Tattle told you, but there’s whispers a Hobart house has been sold for a record $6.06 million. Finally the Apple Isle gets the high-priced mainland disease.
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The Banks buy in Hong Kong after $53 million Point Piper sale: Title Tattle

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Property listings remain some 25% higher within Australia’s capital cities than last year, and 29% higher across the country, according to RP Data.
The 50,854 new house and unit listings over the past month take the total for sale across Australia to 279,605. There were 217,442 listings across Australia this time last year.
“Less than 48% of total listings nationally are within the capital cities,” RP Data research director Tim Lawless said earlier this month.
New listings saw 50,854 properties added over the past month, with the capital city new listing volumes 2.8% higher than the same period last year.
As the winter hibernation sets in the number of new properties advertised for sale increased by 1.8% across the country in the last four weeks, compared to the previous four weeks ending 26 June 2011.
Queensland has the highest number of total listings at 86,188, followed by 73,673 in NSW.
The number of new properties advertised for rent has fallen by 2.7% over the past four weeks.
Capital city new rental listings fell by 3.1%.
Despite the fall, new rental listings nationally are 14.3% higher than the same time last year, and in the combined capital cities they are 11.9% higher.
Rental listings remain at much higher levels than the same time last year, up 12.8% nationally and 10.7% in the capital cities, Lawless said.
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Huge jump in property listings, with Queensland taking the lead 

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The rise of the Australian dollar, and increasing house prices mean Australia now has four of the world's 15 most expensive cities to live in, according to a global living cost survey released by the Economist Intelligence Unit.
Sydney has jumped from 32nd place just two years ago to sixth spot on the list, with Melbourne up from 38th to seventh, with overall living costs some 40% higher than New York.
Perth and Brisbane, which are almost 25% more expensive than New York, are ranked 13th and 14th.
Tokyo, Oslo and Osaka take the top three places overall while Mumbai, Tunis and Karachi are the three cheapest. All four Australian cities are now costlier than London, Rome, Berlin, Hong Kong and Beijing.
The Australian cities' rankings have rocketed sharply over the past decade as Sydney ranked 71st most expensive in 2001 with Melbourne 80th, Perth 91st and Brisbane at 93rd.
Survey author Jon Copestake says the strength of Australia's dollar was partly to blame for soaring living costs.
During the decade the Australian dollar has climbed by about 120% against the US dollar, having bottomed out at US48.4c in 2001.
The Economist's survey compares the cost of living by sampling prices of more than 400 items including food, health, housing, education and transport from 133 cities across the world.
“A fair part of it relates to house prices,” chief Nomura economist Stephen Roberts says, noting the fixed 30-year mortgage rate in the US is about 4.7% compared with 7.8% in Australia.
Melbourne ranked among the most expensive for a daily business trip at $A712 a day – made up of one night's hotel accommodation, two meals, two taxi trips, a daily newspaper and a drink at a bar. Sydney came in at about $588.
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Aussie cities skyrocket on list of world’s most expensive places to live

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Charter Hall has reportedly sold a Hunter Street, Sydney office block at a loss.
Anchored by the Dymocks bookstore on the corner of Pitt Street, the B-grade building was bought for $41 million in 2007 from Dymocks, and recently old at $36 million, according to the Australian Financial Review.
The 1959 office block, which was refurbished in 1997, was on the unlisted fund’s books with a $35 million valuation as at December 2010.
Its buyer, Malaysia-based IGB Corporation subsidiary, Cititel, plans to convert the 12-storey building into luxury hotel, given the city now has a hotel shortage and high occupancy rate.
The building, with 5,436 square metres of space, was listed through Savills, who indicated on its March listing that they were seeking up to $40 million.
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Charter Hall sells B-grade Sydney office block for a loss

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<img src="/images/stories/merton5-cropped.jpg" style="outline-style: none; outline-width: initial; outline-color: initial; padding: 2px; border: 0px initial initial;">
A three-storey Victorian terrace at 79 Merton Street, Albert Park, goes to weekend auction through Michael Coen at Hocking Stuart.
The four-bedroom Merton Street house on 178 square metres was given a price estimate between $2,750,000 to $3 million in the lead-up to its auction.
Guy Angwin from James Buyer Advocates notes its transformation has been extensive, to become a large, light-filled contemporary family home with many extras.
“The ground floor offers you a practical floor plan with the kitchen and family room linking to a rear paved courtyard.
“Families with children will find the extra dining/living rooms at the front of the property a bonus.
“This gives parents an opportunity to entertain with some privacy – away from children as they play in the family room.
“Upstairs all the bedrooms are of a good size, some having access to excellent balconies with views over the city.”
But Angwin suggests an opportunity may have been missed, with the large main bedroom not having an ensuite.
The property is well located and within easy walking distance of shopping, restaurants and public transport.
James Buyer Advocates gives it a 639 rating out of 1000.
“Whilst this property ticks most of the boxes; it's lack of off-street car parking may limit it's appeal,” Mr Angwin says.
<a href="https://www.james.net.au/rating/79-Merton-Street-ALBERT_PARK">https://www.james.net.au/rating/79-Merton-Street-ALBERT_PARK</a>
<img src="/images/stories/merton3-cropped.jpg">
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$2.75 million sought for contemporary Albert Park home

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<img src="/images/stories/barangaroo-cropped.jpg">
The Barangaroo waterfront development project on Sydney’s western CBD foreshore ought to proceed, even if the nearby Wynyard station faces being overloaded after the project’s completion, the project's lead architect says.
“Would it be better with more public transport? The answer is yes,” Lord Richard Rogers said when asked if there was a public transport deficit surrounding the project.
“You have to go ahead, even without it, as otherwise the precinct will be even less sustainable,” Lord Rogers said in an interview proceeding the release of the NSW Auditor-General's report that suggests an extra 13,000 commuters a day will pass through Wynyard station to get to work at Barangaroo within a decade.
The Auditor-General's report highlighted the transport challenge of delivering 22,700 people to Barangaroo, with the former government lacking any specific transportation initiatives.
“It was a pity they (the Labor government) haven’t done more and I hope [the Coalition government] go ahead now, especially with the light rail,” Lord Rogers said.
He said all he could assume was if the density was increased “then ideally a visionary government will put the public transport”.
“It will all help – using the harbour more would be wonderful. I don’t understand why it’s used so little,” he said.
Lord Rogers describes the renewal of the 22-hectare stretch of concrete and East Darling Harbour wharves as ''turning Sydney's back door into another front door''.
“The water is critical, the public space is critical, the city is growing and you need more public space,” he says.
The Barangaroo Development Authority has set a target that 63% of commuters will travel to the precinct by train.
“You could also persuade people to go by bicycle … and you wouldn’t have a congestion problem here if 37% went by bike like in Copenhagen.
“It would help if Sydney had more walking, better roads, beautiful trees and safer footpaths,” he says.
“I have been delighted to see there’s a lot of stress on new infrastructure and public transport (from the new government), which I think is really critical,” Lord Rogers says.
“It would be wrong to restrict the development to existing infrastructure,” said Ivan Harbour, a partner at London-based architectural firm Rogers Stirk Harbour + Partners, whose design was selected for the project.
Lord Rogers spoke about the development when he was in Sydney in May to review the project and to meet NSW Planning Minister, Brad Hazzard.
Wynyard, which opened in 1932, averages about 108,000 passenger movements a day between Monday and Friday. As the third-busiest station on the CityRail grid, it has more than 37,000 people arrive there every morning.
The Auditor-General’s report revealed that even without the Barangaroo development, Wynyard would hit capacity by 2017.
''The success of Barangaroo depends very much on people being able to get there and leave with ease,'' Auditor-General Peter Achterstraat says.
The NSW Planning and Infrastructure Minister, Brad Hazzard welcomed the AuditorGeneral’s report on Barangaroo, stressing it highlighted issues Labor failed to address when in government.
“Barangaroo is a bold project for Sydney and this report confirms the government’s view thatthe former Labor government failed to address all aspects needed to maximise the potentialof this project,” Mr Hazzard says.
“The report also confirms the government was right to instigate a ‘short?sharp review’ of theprocesses involved in Barangaroo.
“What is contained in the Auditor-General’s report comes as no surprise to the newgovernment, but is a very valuable tool in ensuring the best possible outcome forBarangaroo.
“Barangaroo is a golden opportunity for world?class development and working with Lend Lease, the NSW Government will ensure Sydney becomes number one again.
“I will be working with my colleagues, including Transport Minister, Gladys Berejiklian toaddress the issues necessary to make the outcome of Barangaroo the very best.”
The Australian Institute of Architects NSW Chapter says there is an urgent need to analyse the transport requirements for the development site and for the government to be satisfied that the requirements would be met within the timeframe of the proposed development of Barangaroo South.
“A full transport plan is required,” the institute says in its submission to Brad Hazzard’s review of the project.
“The government has an obligation to co-ordinate adequate infrastructure to respond to the transport needs of the site’s development.
“While the proposed ferry service will be a welcome addition to the transport mix, what is needed for the anticipated peak-hour demand is a second heavy rail line or a Metro, and possibly both.
“There is a possibility at Barangaroo of creating a new precinct that fundamentally alters the public/private transport mix in favour of public transport.“But a shift of this kind requires careful long-term planning and infrastructure funding.
“The Transport Management and Accessibility Plan submitted with the developer’s concept plan modification proposal was largely completed in 2008, prior to the cancellation of the City Metro.
“The 2010 update acknowledged the need for a new high-volume pedestrian tunnel from Barangaroo to Wynyard Station and George Street and two bridges over Hickson Road.
“The problem is that Wynyard Station is known to be over capacity already.
“The design of the platforms has been assessed as being critically narrow to the point of risk to life.
“There needs to be an analysis of the loading capacity of light rail from the CBD to Circular Quay via Sussex Street and Hickson Road and of the ferry service to and from Margaret Street, particularly at peak hours.
“In addition, an appropriate area needs to be set aside for transport purposes at the southern end of the site to safeguard future heavy rail and future metro services,” the institute says.
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Barangaroo must proceed, even with Wynyard woes: Lord Rogers

International developer&nbsp;<a href="https://www.apartments.com.au/developers/spg-land">SPG Land</a> is preparing to re-launch its long-awaited $1.5 billion <a href="https://www.apartments.com.au/new-apartments/paradiso-place-surfers-paradise-103-ferny-avenue-surfers-paradise-qld-4217">Paradiso Place</a> development at Budds Beach, bringing a new price point to the Surfers Paradise apartment market.

The developer will release one-bedroom apartments from $825,000 and two-bedroom apartments from $1.24 million in the three-tower development.

According to Urbis, the starting price for the two-bedroom apartments is more than $400,000 below the weighted average sale price for comparable two-bedroom apartments in Surfers Paradise during 2025, which was pinned at $1.7 million.

&nbsp;

Urbis reported quarterly average sale prices for new two-bedroom, two-bathroom apartments ranged from around $1.2 million to $1.7 million throughout 2025, peaking in the December quarter.

[smartcode_project:default project_id=106566 project_image_fid=185853]

Paradiso Place is now moving into its formal sales campaign, with a limited early-release opportunity available ahead of the public launch.

The development will comprise 845 apartments across three towers rising 40, 41 and 44 storeys from a 1.15-hectare site spanning an entire city block. The towers will sit above a new retail precinct.

"Paradiso Place represents a rare opportunity in today's market, offering premium apartments at a price point that is significantly more competitive than anything else currently available," SPG Land Sales Director Brad McMahon said.

"When you look at comparable new developments across Surfers Paradise, Main Beach and the Southern Beaches precinct, buyers are typically paying hundreds of thousands more for a similar product.

"The scale of this project and the developer-builder construction model allows us to unlock efficiencies that smaller developments simply cannot achieve. We are passing those benefits directly to buyers, while still delivering a five-star residential experience with an unmatched lifestyle."

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Each of the three towers designed by Rothelowman will have its own podium, connected by an elevated skybridge network to create a beachside village for residents. The resident amenity has been designed to rival a five-star hotel, with private dining rooms, resident lounges and entertainment spaces.

McMahon said the pricing strategy was a deliberate response to the current market.

"What Paradiso Place offers is a unique balance, genuine value within a premium market. Buyers are not compromising on quality, design or amenity, they are gaining access to it at a more competitive price point at a time when prices across the Gold Coast continue to reach new highs."

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Located around 100 metres from the beach and within walking distance of the Surfers Paradise North light rail station, Paradiso Place occupies one of the Gold Coast's most tightly held beachfront precincts.

Construction is continuing to progress, with eight of the project's 112 foundation piles now complete. Excavation has also commenced on the first diaphragm wall panel, with the first concrete poured on 15 June, marking a key milestone in the project's early works program.

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Joel Robinson

SPG Land launches $1.5 billion Paradiso Place at attractive price point

Luxury developer-builder <a href="https://www.apartments.com.au/developers/lowe-living">Lowe Living</a> has achieved a new Victorian benchmark for an off-the-plan apartment, with the sale of two penthouses at its ultra-exclusive Maison Savoy development in Brighton.

The two penthouses achieved a combined sale rate of $49,926 per sqm. Both transactions eclipsed the previous identified Victorian off-the-plan price-per-square-metre benchmark, set by the 449 sqm apartment at Como Toorak, which sold at $46,659 per sqm.

[smartcode_project:default project_id=140818 project_image_fid=366473]

<a href="https://www.apartments.com.au/new-apartments/maison-savoy-brighton-150-esplanade-brighton-vic-3186">Maison Savoy</a>, Lowe Living's redevelopment of the former Brighton Savoy Hotel on absolute beachfront land at 150 The Esplanade, Brighton, has gained significant momentum since launching just eight weeks ago. Around 30 per cent of the project's 19 residences have already been secured, generating approximately $45 million in sales.

"Securing two of the three penthouse sales at this stage, within eight weeks of launching to market speaks to the confidence our clients place in Lowe Living," Lowe Living co-founder Emma Lowe said.

"They know we'll be with them through every stage of the journey, and that assurance is something we've worked hard to earn and never take for granted."

[smartcode_project:default project_id=140818 project_image_fid=366474]

Lowe said Maison Savoy was conceived as a genuine alternative to a prestige Brighton home, combining house-scale proportions with the convenience, security and lock-up-and-leave appeal of apartment living.

Lowe Living co-founder Tim Lowe said the early sales success demonstrated the resilience of Melbourne's prestige market and highlighted the growing demand for house-sized apartments among ultra-high-net-worth buyers.

"The Melbourne market has definitely been tested in recent years, with interest rates and global economic factors all creating a period of uncertainty across the real estate sector. The sales success at Maison Savoy however demonstrates that confidence remains exceptionally strong at the top end of the market.

"The prestige market is being driven by long-term lifestyle decisions rather than short-term market sentiment, which continues to create a level of certainty that befits an absolute beachfront property in a blue-chip location like Brighton.

"Brighton's fundamentals remain among the strongest in Melbourne, with limited new supply, enduring demand from an overwhelmingly local owner-occupier market, and a rare combination of beachfront amenity and proximity to the CBD."

[smartcode_project:default project_id=140818 project_image_fid=374378]

According to Cotality, Brighton remains one of Melbourne's most tightly held prestige suburbs, with an average ownership tenure of 15.3 years for houses and 12.3 years for units, while more than 73 per cent of homes are owner-occupied.

Tim Lowe said selling two of the project's three penthouses so early in the campaign was an uncommon result.

"This sales result is a reflection of quality and understanding the local market. It's incredibly rare to transact the penthouses so early in a sales campaign in any project so to have sold two of the three penthouses at Maison Savoy so soon after launch, all in-house without any external sales agency appointed, is reflective of our careful consideration of our buyers' needs and lifestyle.

"This is knowledge that is accumulated not just from data and demographic analysis, but via a deeply embedded understanding of how this type of buyer wants to live and feel in their home. We pride ourselves on getting to know our clients personally, and over the last 10 years we have been able to refine our product offering by talking one-on-one with our clients about their design and floorplan preferences.

"Being a fully integrated developer-builder with an in-house design and sales team allows us to lead every part of the process and ensure the highest quality of product and service at every touchpoint. It's a really important part of our DNA and the recent sales success at Maison Savoy indicates that our clients and purchasers are resonating with this point of difference.

"It reinforces that demand remains strong for thoughtfully designed residences that offer rarity, lifestyle and long-term value in tightly held locations, which ultimately validates Maison Savoy's positioning as creating a new benchmark for house-scale, wellness-led apartment living on Brighton's beachfront."

&nbsp;

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The residences at Maison Savoy start from 295 sqm, with most enjoying uninterrupted views across Port Phillip Bay. The project sits moments from the Brighton Bathing Boxes, Royal Brighton Yacht Club, Middle Brighton Baths and Church Street's retail and dining precinct.

A key feature of the development is its private residents-only bathhouse, curated by the founder of Aurora Spa &amp; Bathhouse and modelled on traditional European bathing rituals and the award-winning Sorrento bathhouse.

The wellness offering includes a hydrotherapy pool, salt room, sauna, steam room, cold plunge pool, foot activation zone and a Vichy rainfall bed, one of only a handful in Australia. Residents will also have access to a Technogym studio, lounge spaces and a dedicated concierge service offering everything from morning coffee delivery and restaurant bookings to dry cleaning and home coordination.

"Wellness-led design has become a defining factor for luxury buyers," Emma Lowe said.

"Purchasers increasingly value homes that enhance wellbeing through thoughtful design, private amenity, privacy and liveability."

The penthouse purchasers are now undertaking a bespoke customisation process curated personally by architect Pete Kennon and the Lowe Living team, one of the developer's signature service offerings.

Construction on the $160 million transformation of the former Brighton Savoy Hotel site commenced last month, with completion expected in early 2028. The project has secured funding from NAB alongside development partner Monark.

Just one penthouse remains available, along with a limited number of two and three-bedroom residences starting from $3.75 million.

Lowe Living currently has eight projects on the market across Melbourne and recently celebrated its 10th anniversary, having grown a $1 billion development pipeline alongside a $350 million construction pipeline.

&nbsp;

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Lowe Living set new Melbourne off the plan apartment record

For more than three decades, Hyecorp has been delivering residential projects across Sydney's Lower North Shore, building a portfolio centred on design-led apartment living in some of the city's most established neighbourhoods.

Hyecorp recently launched the latest in its long line of apartment developments, Celine, a 29-storey tower on Archer Street in Chatswood. Like the majority of the developer's projects, Celine caters to a broad buyer demographic, offering a mix of one, two, three and four-bedroom apartments, all designed with owner-occupiers in mind.

Functionality and flexibility are often buzzwords in the new apartment market, but they sit at the core of Hyecorp's design philosophy.

Hyecorp Joint Managing Director Stephen Abolakian says the developer understands it isn't designing apartments for today's needs alone, but for how buyers will live several years into the future.

"When we launch our projects we need to be aware that these developments aren't finished for several years," Abolakian says.

"That home office in the here and now might be a nursery by the time the project completes for a prospective buyer, so we need to think about how the apartment spaces function for future uses so there's longevity in the ownership."

Celine's architects, Fuse, followed the same philosophy, saying the design extends well beyond aesthetics.

"Celine focuses on timeless architectural form and functionality, with a strong emphasis on light, proportion and materiality. The design responds to the urban context of Chatswood while delivering calm, highly liveable interiors that feel both contemporary and enduring. The floorplans have been carefully resolved to maximise usability and outperform typical market offerings in terms of efficiency and liveability."

Most apartments incorporate multipurpose rooms designed for flexibility. Each includes an integrated desk and a standard Murphy pull-down single bed, allowing the space to transition from a home office or study to guest accommodation as needs change. The layouts have also been designed to maximise natural light, storage and overall functionality.

One and two-bedroom apartments feature Miele appliances, while three and four-bedroom residences are appointed with integrated Gaggenau appliances and Taj Mahal stone benchtops.

Buyers who purchase early in the construction process can also take advantage of Hyecorp's "Live Your Way" interior design service, allowing them to personalise finishes and tailor elements of their home to suit their own lifestyle. It's a feature designed to appeal to owner-occupiers who want their apartment to feel uniquely theirs from the day they move in.

[smartcode_project:default project_id=149594 project_image_fid=362614]

While flexible floorplans have become a hallmark of Hyecorp's apartment design, the developer has also continued to place significant emphasis on resident amenity.

As buyers increasingly expect more from apartment living, shared spaces have evolved beyond a gym and barbecue area. They are now an extension of the home, providing spaces to relax, exercise, entertain and connect with neighbours.

At Celine, the resident amenity has been designed with a focus on wellness, centred on the level six podium. An infinity-edge swimming pool, spa, sauna and fully equipped gym are complemented by barbecue facilities and a residents' lounge, creating a range of spaces for relaxation, recreation and social connection above the streets of Chatswood.

Practical conveniences have also been integrated throughout the building, including EV charging provisions, smart parcel lockers, bicycle storage, a pet wash station and dedicated car wash bays, reflecting the project's focus on making everyday living as seamless as possible.

[smartcode_project:default project_id=149594 project_image_fid=362633]

"Celine has been designed to deliver a refined residential experience that reflects the evolution of Chatswood into a premium urban centre,"&nbsp;Abolakian says.

"With over 30 years of experience delivering projects across Sydney's Lower North Shore, Hyecorp brings a deep understanding of what local buyers value. Every detail has been considered to balance luxury, functionality and long-term liveability. This is not just about apartments, but about creating a lasting residential address for discerning buyers."

Hyecorp, vertically-integrated builder-developer, is anticipating construction commencement later this year.

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Hyecorp brings 30 years of Lower North Shore experience to Celine in Chatswood

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>.

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.

Jonathan Chancellor

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