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Actor Nicole Kidman has unwittingly secured a 200-metre exclusion zone between her $6.5 million Sutton Forest, Southern Highlands farming property and the nearest coal exploratory drill hole in the area.
The joint venture partners of the coal exploration project, Cockatoo Coal and the South Korean company POSCO, now insist the two drill holes planned for the perimeter of Nicole Kidman’s property have been moved further away than was outlined in mapping in the publicly displayed March 2011 Review Of Environmental Factors.
The nearest drilling hole will now be 200 metres away from Nicole Kidman’s property.

At best it’s only a pyrrhic victory, for Kidman as the miners could go right under her farm property no matter where they drill holes if the residents lose the battle to stop the coal exploration, one Sutton Forest resident says.

The coal mining company issued a press release through its associate Hume Coal to hose down the media interest in the issue after the company directors became concerned with the international attention the matter was attracting. The residents’ battle against the coal mining has been raised in the English and American media since its recent<a target="_blank" title="Coal mine fears for Nicole Kidman" href="https://www.propertyobserver.com.au/news/new-south-wales/coal-mine-anxiety-for-nicole-kidman-s-sutton-forest-property/2011062150555"> Property Observer report</a>.

The map is no longer reflective of where Cockatoo plan to drill the holes.

The company has declined to advise just how many of the other approved 118 holes had also shifted since the February 2011 maps went on public display on the website of the NSW Department of Primary Industries in March.

Nor was Hume able to give a date of the decision to move the two holes.

The March report had noted: “The proposed drill sites are specially selected to have minimal impact on the environment and community.”

It is understood the company rejects it had been influenced on the location by Nicole Kidman or husband Keith Urban.

“I’d be amazed if she had ever read the March document,” one insider says.
The press release denial fails to refer to the shift in the two holes’ location, instead merely denying the company has plans to drill on or at the borders of the Sutton Forest property owned by Nicole Kidman and Keith Urban.
“A number of Australian media outlets have incorrectly reported that Hume Coal is preparing to drill on or at the borders the property of Ms Kidman and Mr Urban as part of its exploration project. This is not the case,” it says.
Hume Coal holds an exploration licence covering an area of 115 square kilometres in the Southern Highlands of NSW.
Authorisation for exploration in the Hume Project area was first granted in 1967, and various exploration programs have been undertaken since then.
The press release also claims many of the holes would only be 10 centimetres in diameter and are considered very low impact.
Exploration holes could, however, require a disturbance area of 25 metres x 25 metres.
The first 30 holes of this program started last month within the Belanglo State Forest.
All exploration works will adhere to strict regulatory controls and ongoing monitoring by the NSW Department of Trade and Investment, Regional Infrastructure and Services and the Sydney Catchment Authority. Each site will be fully rehabilitated on completion.
“Coal mining has been an important part of the Southern Highlands economy since the 1800s,” the press release says.
“The Berrima Colliery, adjacent to the Hume Coal Project, has been operational for 85 years and has had minimal environmental impact on the area.”</body></html>

jchancellor-FAypfDUnLy

Nicole Kidman's Highlands retreat given reprieve – for now – as coal company shifts exploratory holes

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The Queensland government’s decision to cut the stamp duty concession from August 1 will definitely hurt the property market in the short term, according to the Real Estate Buyers' Agents Association of Australia president Byron Rose.
Queenslanders thinking of upgrading homes can avoid higher stamp duty fees if they exchange over the next month.
But suggestions there will be a flurry of buying activity in the market appear premature, with Rose warning that buyers need to be careful they don’t get caught up in a pricey rush to snap up properties before the changes to stamp duty kick in from August 1.
Rose’s comments come in the wake of the Queensland government’s recent decision to scrap the stamp duty concession for people trading up or downsizing to an existing home.
Under the new regulations, stamp duty on the purchase of a $400,000 home will increase from $5250 to $11,825, and those buying a $540,000 home will pay an extra $7,175 from August 1.
Stamp duty fees on a $1.5 million property will increase from $57,250 to $64,425 once the new rules come into effect.
Brisbane has a $430,000 median house price, according to the latest RP Data research.
The budget included a $140 million stimulus package of grants to first- and new-home buyers, but the trade-off was higher stamp duty on sales of most established houses.
“The decision to cut the stamp duty concession so swiftly is like ripping off a Band-Aid,” Rose says.
“If the Queensland government wants to kickstart the building industry, why doesn’t it provide concessions to the building industry rather than penalising aspiring home owners trying to step up the property ladder?
“REBAA believes that a confident and recovering housing market would deliver more to the Queensland economy than any short-term measures.”
The property analyst Michael Matusik has noted that although the stimulus measure is likely to boost construction of new homes, the stamp duty hike is yet another impost on the market.
“It’s sad that stimulus has been found from within the industry. In other words, they’re robbing Peter to pay Paul. It may backfire,” he says.
Matusik suggests stamp duty generally does not have much impact on sales prices, but the current buyers’ market means sellers might have to discount their properties further to clinch a deal.
He says the transfer tax system needs an overhaul, as it is holding people back from moving around the state.
REBAA Queensland spokeswoman Liz Wilcox says stamp duty is an unwelcome burden for anyone who wants to buy a home and fails to recognise the challenges that modern buyers face.
“As lenders demand greater deposits, buyers are already struggling to pay the huge capital outlay that stamp duty demands without an additional increase,” Wilcox says.
“It would be fair to say that stamp duty is one of Australia’s most unpopular taxes and is widely regarded by those buyers who pay it as being punitive and a serious impediment to anyone wanting to buy their own home.
“The decision to abolish the stamp duty concession in Queensland is a tax on ambitious home owners with no other purpose than to give the government as much cash from as many people as they can.
“The government should be doing more to aid housing affordability rather than encouraging more barriers to entry,” Wilcox says.
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Stamp duty rise will hurt Queensland, says buyers' agents association

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5 Torrington Road, Maroubra, NSW, 2035
Not far from the picturesque Maroubra coastline, this four-storey contemporary home has been sold for $2,395,000. It comes with roof terrace and  four double bedrooms. It sold through <a target="_blank" title="Century 21" href="https://www.century21.com.au/southcoogee/">Century 21 Coastline Properties </a>agent Richard Movsessian. It last sold for $2.35 million in September 2008.
 
 
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Pretty as a picture in Maroubra

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Greg Medcraft, the chairman of the Australian Securities and Investments Commission, has welcomed the Federal Court’s decision in its case against eight directors and former executives of Centro Properties Group, citing it as a landmark decision in Australian corporate governance. Justice John Middleton’s judgment on the legal duties of directors and management sends a clear message to boardrooms across the country about corporate accountability, according to Medcraft. “The central question in the proceeding was whether the directors were required to apply their own minds to, and carry out a careful review of, the proposed financial statements and the proposed directors’ report, to determine that the information they contained was consistent with the directors’ knowledge of the company's affairs, and that they did not omit material matters known to them or material matters that should have been known to them,” Medcraft said. Middleton ruled: “A director is an essential component of corporate governance. Each director is placed at the apex of the structure of direction and management of the company. The higher the office that is held by a person, the greater the responsibility that falls upon him or her.  The role of a director is significant, as their actions may have a profound effect on the community, and not just shareholders, employees and creditors.” Medcraft says the case also highlights the danger of boards uncritically relying on management, or the auditors. “Each member of the board must bring and apply their own skills and knowledge when declaring financial statements are true and fair. This is not a responsibility company boards can delegate or merely rubber stamp.
“Directors are an important gatekeeper for our markets,” Medcraft says.
ASIC alleged that the seven directors of Centro Properties Group and Centro Retail Group failed to discharge their duties with due care and diligence in approving the financial reports for Centro Properties Ltd, Centro Property Trust, and Centro Retail Trust for the year ended June 30, 2007. ASIC also contended that the directors and the former chief financial officer knew that the entities had very significant short-term interest bearing liabilities and should have known that these liabilities were incorrectly classified in the 2007 financial reports. The defendants to ASIC’s civil penalty action were: ·        Brian Healey, former chairman and non-executive director ·        Andrew Thomas Scott, former chief executive officer and managing director ·        Samuel Kavourakis, a former non-executive director ·        James William Hall, a non-executive director ·        Paul Ashley Cooper, a non-executive director ·        Peter Graham Goldie, a former non-executive director ·       Louis Peter Wilkinson, a former non-executive director; and ·       Romano George Nenna, former CFO. ASIC sought orders to disqualify the directors and officers from managing corporations and asked the court to impose pecuniary penalties on them. At the commencement of the trial Nenna filed an amended defence, admitting most of ASIC’s allegations against him.
A penalty hearing is to be scheduled.
The Australian Institute of Company Directors says company directors continue to be concerned about the ongoing confusion between the roles of non-executive directors and management.
The AICD points to Middleton's comment that “there has been no suggestion that each director did not honestly carry out his responsibility as a director”.
"We also note that the Federal Court has not determined whether any defendant should be relieved from liability and also whether any penalties should be imposed," the AICD says.
The AICD says it is important for all company directors to have an understanding of the business which they oversee, as well as a basic understanding of the financial position of the company.
“However, in an environment where the complexity of financial reporting standards and their application continues to increase, the role of company directors continues to become even more onerous.
“The judgment reminds directors that they are entitled to rely on specialist knowledge and advice provided by management and external advisors but cautions directors that there are limits to that reliance,” the AICD says.
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Centro directors needed to act as 'gatekeepers': ASIC

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China’s property boom is shifting away from Beijing and Shanghai to its secondary cities, according to Liu Li-Gang, the chief China economist at ANZ in Hong Kong.
Government measures to curb the market haven’t kept prices from rising in the secondary cities, according to the Bloomberg report.
New home prices rose in 67 of 70 cities in May. Prices increased the most in smaller cities as developers held off price cuts, even as existing home prices cooled following higher interest rates and down-payment requirements.
“Purchase restrictions in the major cities drove speculators to second- and third-tier cities,” Liu says.
New-home prices in Beijing rose 2.1% in May from a year earlier, while those in Shanghai climbed 1.4%, the National Bureau of Statistics says. Existing home prices in Beijing fell 0.2% from April, and those in Shanghai increased 0.2%.
The biggest gains in May were in new-home prices in smaller cities including Urumqi, Mudanjiang, Lanzhou and Qinhuangdao, which all posted increases of at least 7.7% Prices in north-eastern China’s Dandong rose 9.7% in May, the most among the 70 cities monitored.
Compared with the previous month, new home prices fell in nine cities in May, the same number as in April.
Liu says he expects two more interest rate increases in China this year, one this month, and the other in the third quarter, after the recent announcement that inflation in May reached 5.5%, a 34-month high.
May's economic data indicates that the overall economy in China is moderating, with both industrial production and retail growth softening slightly, but investment demand remained stubbornly strong.
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China's property boom heads to smaller cities

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Investment banker Mike Fitzpatrick, the chairman of the Australian Football League, and his wife, Helen, have bought in the Melbourne suburb of South Yarra for close to $9 million.
It’s a 1930s house on 693 square metres in the Domain precinct, which the Fitzpatricks bought from interior designer Melissa de Campo. De Campo paid $3.45 million for the property in 2003.
Not quite within a drop punt of the MCG, but the Royal Botanic Gardens is almost their front yard.
Designed by architect Marcus Martin, the four-bedroom recently renovated house on a cul-de-sac had been listed for March tender through Kay &amp; Burton South Yarra's Michael Gibson and Ross Savas with $10 million hopes.
The house comes with a north-facing garden, study and casual family area that opens to a deck and pool. The property also has open fireplaces.
Rumours have been rife of the prominent couple’s purchase since its May 30 exchange, with the price yet to be revealed.
At the $10 million asking price being initially sought, the pricing represented $14,430 per square metre. At $9 million it reflects $13,000 per square metre. In 2004 a street sale equated to a local record of $6,160 per square metre. In 2000 the keen punter and former Crown Casino boss Lloyd Williams secured a then record $3,099 per square metre for his family house on the street.
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AFL chairman Mike Fitzpatrick spends close to $9 million in South Yarra

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Tasmania’s clean environment has prompted the Sustainable Agricultural Fund to recently expand its farming investment, snapping up two dairies totaling 485 hectares, with the potential to milk about 1,200 cows.
The $10 million acquisition adds to last year’s nearby $16 million purchase of 640 hectares, with the potential to milk about 1,700 cows.
The latest acquisition of the dairies in northern Tasmania near Devonport were purchased through Harcourts rural director John Hewitt from the Dawson family, who developed the farms from small-scale dairies over 25 years.
SAF executive chairman Arthur Apted says institutional investors are looking for a long-term return of 10% (including growth in capital).
The fund raised $145 million from a small number of institutional and wholesale Australian investors, including AFL chairman Mike Fitzpatrick, who invested $3 million in 2009.
It is an unlisted fund that invests in land ownership and husbandry.
SAF mainland ownership includes the North Star aggregation in NSW, a 9,719-hectare mixed agricultural farm bought from five different vendors near Moree.
Most of the cropping land at Moree was purchased from farmers looking to exit the industry, which included 50- plus farmers whose children don’t want to follow them into farming.
Meanwhile, Australia's largest dairy farmer, 185-year-old Tasmanian-based Van Diemen's Land Company, which owns 23 farms in the Circular Heads area including the historic Woolnorth properties, has surpassed the 5 million kilogram-milk solids (kgms) production mark for the first time.
Van Diemen's Land Company is owned by New Zealand's Tasman Farms Ltd, with significant investor Taranaki Investment Management Ltd.
Production on the farms totalling 19,000 hectares in Tasmania's northwest corner previously peaked at 4.2 million kgms in 2008-09.
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Tasmanian dairy farms draw mainland green investment

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The big-spending, international polo-playing tycoon Urs Schwarzenbach has bought another NSW rural holding.

Schwarzenbach, rated the 83rd-richest person in Britain by the Sunday Times Rich List with a $740 million fortune, has spent $2.02 million to buy a further 400 hectares at Harden in the Southwest Slopes region of NSW.

This is his first purchase for four years, as Schwarzenbach last bought a nearby 1,062-hectare holding for $5.77 million in 2007.

Despite his slow pace of acquisition, Schwarzenbach has helped turn southern NSW into a billionaires' billabong since Romani Pastoral Company, directed by the 62-year-old Zurich-born businessman and his Sydney-born wife Francesca Schwarzenbach-Mulhall, commenced its rural consolidation in 1987.

Romani has spent more than $35 million in rural property, with the initial $21 million spent between 1987 and 1992.

It has about 50,000 hectares of NSW farmland, mostly between Harden and Jugiong, which includes showpiece polo-playing estate Garangula, and Redbank, the homestead briefly owned by impresario Robert Stigwood.

The couple maintain Redbank, the $5.1 million Jugiong property purchased in 1999, as the pastoral company's headquarters.

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Redbank was held by the Osborne family for 145 years before being sold for $2.8million in 1981 to the Stigwood, who bought the property on Rupert Murdoch's recommendation while in Australia attending the premiere of the movie Gallipoli. It sold again in 1984, and again in 1988, for $4.69 million.

Redbank hosted England's Prince Harry as a jackaroo in 2003.

Romani’s priciest acquisition was elsewhere in NSW, the 13,700-hectare Windy Station on the Liverpool Plains, which cost $19 million in 1996 when bought from the Elders subsidiary the Australian Agricultural Company.

The couple have lived at Thames Side Court at Lower Shiplake, near Henley-on-Thames outside London, for about two decades. They also own nearby Culham Court, a red-brick 1770 Georgian residence on 260 hectares, which was bought through Knight Frank in 2006 for £32.9 million via a British Virgin Islands-registered company.

They also have a retreat in Marrakesh, the 19th-century Morocco palace Palais Layadi, which was built by Caid Layadi, a Northern African tribal lord.

In early 2011 the Schwarzenbachs bought an $11 million property along the Balmoral cliff top overlooking Middle Harbour in Sydney. They bought the property from the Watson family through Raine &amp; Horne agent Brendan Warner, and it adjoins the Schwarzenbachs' long-standing Australian base, which cost $3.9 million in 1988.

It takes their Burran Avenue residential compound in Mosman to 2300 square metres.

It was Schwarzenbach who called the intensive-care ambulance that saved Kerry Packer from his heart attack while playing polo in 1990.

The son of a print shop owner, Schwarzenbach  made his fortune from foreign exchange trading after founding his own company, Intex Exchange.
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Currency trader Urs Schwarzenbach expands NSW farm holding

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<img style="float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">It was a busy night for the actor Michael Caton, sage of the TV reality show Hot Property, and his wife, Helen, when their Bondi Beach apartment (pictured above) went to auction Thursday night. It clashed with the long-overdue Hot Property series return on Channel 9.
Caton, who also stars in Channel 7’s Packed to the Rafters, secured $938,000. That represents a pretty respectable 7.9% annual appreciation since the Sir Thomas Mitchell Road apartment was bought in 2000 for $400,000. It is a top-floor two-bedroom unit that comes with study, deck and 46 square metres of floor space in the block of four known as Sunnyhurst. Sandy Kogan at Richardson &amp; Wrench Bondi Junction was always confident she’d get the couple more than $900,000, allowing them to upgrade in the locality. Caton was as cool as a cucumber in the packed auction room, and why wouldn’t he be, given there were three bidders.
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<img style="float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">The former Hawthorn footballer-turned-sports commentator Dermott Brereton secured $1.79 million post-auction for his near-new Brighton duplex (pictured above), not far from both the Bay and Church street retail strips in the bayside suburb of Melbourne.  Hocking Stuart Brighton agent John Clarkson had $1.7 million  hopes for the two-storey, three-bedroom house with a double garage, pool and terrace. James Bidderman of the ever-present James Buyers Advocates notes that the lone bidder went inside for negotiations before the sold sticker went up. Brereton had paid $1.81 million for the property in 2009.
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<img style="float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">Title Tattle aims to tell you as soon as we know – often before it happens – so the word from Mosman is that the UBS boss Matthew Grounds may be set to upgrade to a $15 million abode. It’s all a bit speculative partly because it involves an option to purchase, rather than an outright exchange on the Kirkoswald Avenue residence overlooking Middle Harbour in Sydney. The deal’s paper trail leads back to the maiden name of Matthew’s wife, Kimberly Simpson-Morgan, perhaps to avoid any immediate link to the investment banker. And the paperwork Title Tattle has sighted gives her only contact details as care of Edney Ryan Legal.
Of course her father, Fred Simpson Morgan, worked between 1959 and his 1989 retirement at the estate agency Peter Hill First National. In late 2007 Grounds paid $11 million for their current Mosman home, and he calls the tennis player Lleyton Hewitt a neighbour at his Palm Beach weekender bought in 2005 for $4.3 million. Grounds, described as Australia’s pre-eminent investment banker in a SMH Business Day profile, is the adviser of choice to James Packer, close enough to having attended his wedding on the Cote d'Azur in June 2007.
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<img style="float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">Alistair Brae, the restored Scottish-influenced 1904 Queen Anne-style Pymble house (pictured above) on 2,032 square metres in Sydney’s leafy north shore, has been sold. Its single-level layout includes a grand reception hall, formal rooms, several family rooms, five bedrooms and three bathrooms. Verandas surround the house and overlook the gardens, pool and sandstone garage. Its LJ Hooker Pymble agent Julie Bennett had revised $3.3 million hopes in April. There were $4 million plus hopes on its initial April 2010 listing with another agent.
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<div>It was one of the first homes built in Pymble and much admired given its six-metre-long domed leadlight ceiling in the foyer. It last sold at $1.2 million in 1992. The first owners of Alistair Brae were Samuel and Annie Head, naming it to commemorate Annie’s maiden name, McAlistair.</div>
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<img style="float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">There was no success for bestselling author Janine Shepherd when Carradon, her 1880s Burradoo, Southern Highlands weatherboard home, went to mid-week auction. Set on a 6,500-square-metre garden estate, it was passed in on a $1.8 million vendor bid. Shepherd bought the property from the comedian Billy Birmingham in 2007 for $2 million. The property was listed through Bill Bridges of Ballard Property Group inc onjunction with Bowral agent Ian Rayner  with $2 million plus hopes.  Shepherd's next book, titled The Gift of Acceptance, will be published in February.
 
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<img style="float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">The head of Royal Bank of Scotland's Australian equities operations, Randolf Clinton, and his wife, Sally, have spent $4.85 million to buy at Palm Beach (pictured above). They bought from the expatriate hedge fund boss Paul Henry and his wife, Belinda, who had bought the Florida Road house for $4.1 million in 2006. It was sold through LJ Hooker agent David Edwards after the Henrys spent $14 million on a Pacific Road residence.
Clinton sold his modern Mosman mansion set on a 1,671-square-metre block with a tennis court and pool last month. It had been listed with expectations of more than $10 million through LJ Hooker Mosman agents Geoff Smith and Richard Harding, but it's understood the sale figure fell somewhat short of these hopes. Title Tattle has been around long enough to remember that it was Marco and Angela Belgiorno Zegna of the Transfield empire who sold the property in 1999 to the Clintons for $2.3 million. Clinton was at ABN AMRO as head of institutional sales around that time. Set on the McLean Street with northerly views across Middle Harbour, the house was designed by Alex Popov three years ago set in gardens designed by landscape guru William Dangar.
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<img style="float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">Charles Owen, who undertook the interiors at the Bronte, Sydney and Brooklyn, New York properties of the late actor Heath Ledger, secured $1.16 million pre-auction for his Cremorne apartment with Sydney Harbour glimpses (pictured above). The three-bedroom, two-bathroom Sutherland Street unit just fell short of the $1.2 million hopes expected through Jasmine Dimitriou at Belle Property Neutral Bay. The apartment occupies 200 sq m and Owen has overseen the contemporary living refurbishment with an Armani Casa-style palette. Owen, from Charles Owen Design, and his wife, Nicolette, had paid $735,000 in 2007.  Perhaps it was his reputation but 93 groups went through the Sutherland Street apartment during the four week marketing campaign.
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<img style="float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg"><a target="_blank" title="Auction wrap" href="https://www.propertyobserver.com.au/residential/auction-wrap-monday-june-20/2011062050539">Melbourne had the weekend’s highest sale</a> last weekend when a renovated Victorian house on 371 square metres in South Yarra (pictured above) sold under the hammer. It was sold for $4.85 million by Ken and Cathi Biddick, directors of Conquest Sports, which are the exclusive distributors and wholesalers of Converse in Australia and New Zealand. They had paid $1.95 million in 2002 when bought from Wayne McMaster, partner at Mallesons Stephen Jaques and often regarded at the pre-eminent intellectual property lawyer in the country, and his wife, Lyn.
It was announced on the market at $4.8 million, with competition from two bidders for the two-storey 1895 house offered by Marshall White agents Andrew Hayne and Peter Bennison.  In the prized Domain precinct, this impressive Victorian double-fronted property is trimmed with wrought-iron lace and anchored by bluestone foundations and towers. The Park Street property comes with 12 glamorous rooms, with the first floor containing five bedrooms. It had been expected to fetch $4.5 million plus.
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<img style="float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">Former 500cc motorcycle world champ Wayne Gardner has accepted $482,000 for his Darlinghurst studio investment. Set in a cosmopolitan inner-city location, it was a terrace-style studio marketed with a flexible commercial/residential zoning. It could be a boutique design studio or a dwelling, according to Ballard Property Group agent Michael Khouri.  The Liverpool Street property development was constructed by Gardner with five mixed-use commercial spaces along with parking for two cars. It was unsuccessfully listed in one line in 2008, with a $143,000 annual gross rental. The Liverpool Street site was bought for $1,325,000 in 2002.
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<img style="float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">And don’t say that Title Tattle told you, but apparently Hugh Sheridan, the Packed to the Rafters star, has been scouting around the beachside South Australia village of Carrickalinga. The NIDA-trained Logie winner has been looking to buy an investment property in the picturesque south coast district, apparently with an eye to using it eventually as a holiday home away from the highlife of Sydney. Local agents say the Adelaide-born Sheridan has "always had a soft spot" for the suburb.
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Hot Property's Michael Caton triumphs at his own auction: Title Tattle

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Melbourne loves its property television shows more than Sydney. 
This was evidenced again with the return of Michael Caton’s Channel 9 television series Hot Property.
Hot Property attracted 357,000 Melbourne viewers, compared with 266,000 Sydney viewers.
Hot Property sat in the eighth spot for the night, with 898,000 national viewers watching auctions unfold in Brunswick in Melbourne and Kellyville in Sydney.
But it appears the viewers like renovation dramas even more, with the fourth night of The Block sitting in third place in Thursday night’s ratings with an audience of 1.13 million.
It was a slight jump on the 1.11 million on Tuesday and Wednesday nights for The Block, which premiered with 1.34 million on Monday night.
Part of the reason for Melbourne’s higher ratings is that The Block is set in Melbourne this year, the first time in its four series that it has been based outside Sydney.
“Hot Property looks at the highs and lows, the elation, the success and the disappointment of the real estate game,” Caton says.
The first episode featured a Brunswick unit that sold for $386,000 through Barry Plant, having been bought for $237,000 in 2007.
It was in a block of eight, all sold at the same time in 2007, and the new owners formed close friendships.
At Kellyville there were hopes of $800,000 for the single-story house, which sold post-auction for $785,000 through  Gilmour &amp; Orley Real Estate.
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Melbourne tunes in to property TV

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.

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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.

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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;

[smartcode_project:default project_id=140818 project_image_fid=366480]

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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