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Property agents in Poland, Russia, Canada and Brazil reported the biggest decline in the availability of distressed property during the 2011 first quarter.
The pace of distressed property listings also fell in Australia, Malaysia, Hong Kong and Scandinavia, according to an international survey.
Ireland, South Africa, the US and Spain reported the largest increase in the number of distressed property listings, according to the survey that tracks 25 commercial property markets across the globe.
It revealed that although the pace of rising distressed property levels slowed in the first quarter of 2011, rising interest rates in many markets posed new challenges and weighed heavily on the outlook for commercial property.
The survey also suggests that lenders are becoming less lenient with borrowers, as more countries reported that the speed at which lenders start foreclosing increased: 13 countries, up from 10 in the December 2010 quarter.
Of the 25 countries included in the report, 15 reported growing levels of distress, according to The Global Distressed Property Monitor, issued by the Royal Institute of Chartered Surveyors.
It found half the countries surveyed reported a moderation in the pace of distressed property listing coming to market, but that two-thirds are expecting an increase in distressed listings in the second quarter.
The RICS defines a distressed property as one that is under a foreclosure order or is advertised for sale by its mortgagee.
The report also found significant imbalances between the supply and demand for distressed properties.
In China, Hong Kong and South Africa, demand outweighs the expected supply, and the same is true to a lesser extent in Germany and Australia.
Survey questionnaires were sent to real-estate organisations in March, with 411 company responses received across the world.
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jchancellor-FAypfDUnLy

Distressed property listings slow in Australia: Survey

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{yoogallery src=[images/stories/ramsgate]}
Michael Darling, the chairman of Caledonia Investments and scion of the establishment pastoral and mining family, and his wife, Manuela Darling-Gansser, have spent $14 million to buy a prized oceanfront North Bondi Beach residential building site.
The somewhat neglected five-storey apartment block – most likely to become a luxury condominium compound for the Bellevue Hill family – was recently bought from the retired IT entrepreneur Neill Miller.
Set on the rock shelf known as Mermaid Rocks on the ocean shore at North Bondi, the building now comprises 10 apartments that Miller consolidated at a cost of $14 million between 2006 and 2008.
The Art Deco 1930s Ramsgate Avenue block was marketed as the only privately owned apartment building with direct ocean access on the Ben Buckler peninsula through <a href="https://www.105ramsgate.com.au/" target="_blank" title="105 Ramsgrange">Martin Maskin at Raine &amp; Horne Double Bay in conjunction with Mary Anne Cronin at Raine &amp; Horne Bondi Beach</a>.
It had initial $15 million-plus hopes but sold pre-auction at a then undisclosed price.
Aboriginal rock carvings are etched into sandstone near the site, which has prompted some residents to regard the whole area as a place of cultural significance, but interested parties were advised an Aboriginal archaeological and cultural heritage assessment report had concluded that any development was unlikely to have an adverse impact.
The urbane Oxford- and Harvard-educated businessman is regarded as one of Australia’s savviest investors, having sold the family’s 41% equity in the finance house Clayton Robard for about $200 million shortly before the 1987 stock market crash.
Darling, a descendent of the pioneer John Darling and the son of long-time BHP director L Gordon Darling, was a McKinsey &amp; Company consultant in the mid-1970s. He once climbed Mount Everest as far as Camp 3.
From 1979 to 1987 he was managing director of Clayton Robard Limited, the funds management and life insurance group. In his seven years as managing director he oversaw a lift in its asset values from $3 million to $350 million.
He was also an outside director of the Australian Stock Exchange from 1986 to 1987.
He has been a trustee of the National Gallery of Victoria, a director of the Museum of Contemporary Art and chairman of Art Exhibitions Australia.
The Bellevue Hill family retains a family retreat on the Tilba Tilba coast in southern NSW. Architect Nick Tobias, of Tobias Partners, and Darling’s son-in-law, is in the box seat to undertake any new development.
Miller briefly envisaged the demolition of the building, excavation of the sandstone bedrock beneath and construction of a part three-storey, part six-storey residential apartment block made up of three units, four car spaces and two swimming pools. The plans were drawn up by Puflett Associates and Brian Myerson Architects.
During its marketing campaign, Martin Maskin said: “The ultimate would be the creation of one single residence, ranking it amongst the world’s unique homes.”
“Or there is the option to build up to five luxury apartments with vast internal and external living and entertaining areas with breathtaking ocean and Bondi Beach views.”
There are two approved plans allowing for the development to be divided into either three apartments with four internal car spaces, lift, plant room and boat house; or five apartments with lift and four external car spaces.
Mary Anne Cronin says: “This opportunity comes along once in a lifetime.
“When is there going to be another actual waterfront block of units available in Bondi? I don’t think anything like this could ever come up again.” Cronin notes.
“This is being pitched internationally as well as nationally, and I think a few interesting people will really see the value in this.
“Just about every image you see of Bondi Beach has this building in it, and Bondi is becoming bigger than the Harbour Bridge for people around the world.”
Miller moved to Sydney in the early 1980s, having started an IT database system in a garden shed in South Africa with his first cousin Derek Miller.
Since November 2010 Miller has been involved in Energy &amp; Carbon Intelligence System, an enterprise software solution that streamlines for businesses the capture, reporting and management of environmental data such as energy, fuel, water and carbon emissions.
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Michael Darling buys North Bondi apartment block for $14 million

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Peter Lowy, the Los Angeles-based co-chief executive of the Westfield Group and son of the veteran shopping centre tycoon Frank Lowy, has spent $10.35 million on Sydney harbour-front residence.
The Double Bay purchase signals the likelihood that Peter Lowy and his wife, Janine, will be spending more time in Sydney. The couple have resided in the United States for the past 21 years, where he helped oversee the expansion of the Westfield Group into one of the world’s largest publicly traded real-estate companies, with investment interests in 119 shopping centres in the United States, United Kingdom, Australia and New Zealand. 
The property was recently sold by McLean family through LJ Hooker Double Bay agent Bill Malouf.
The four-bedroom house that sits on a 570-square-metre block was previously traded in 1998 for $3.25 million when sold by the late former chairman of the Maritime Services Board, John Barraclough, and his wife, Lois.
The house is set on a cul-de-sac close to the ailing heart of the cosmopolitan Double Bay village.
It comes with northerly harbour views, a sprawling grassed garden to the water's edge and a nearby berth for a small boat or dinghy.
The <a href="https://www.latimes.com/business/lat-fi-taxshelter_j69z80nc,0,469337.photo" title="Los Angeles Times" target="_blank">Los Angeles Times</a> has reported that Peter Lowy took American citizenship. The couple own a seven-bedroom, nine-bathroom Beverly Hills house, which was built in 2004 with 1,200 square metres of living space. The 4,460-square-metre block cost $US6.6 million in 2000. It currently has an estimated value of US$10.3 million, according to Zillow, the United States price estimate website. Its value at the peak of the property market in America was put at $US14 million.
<img src="/images/stories/lowy2.jpg">
Peter Lowy's two brothers have owned Sydney harbour-front homes for many years. Stephen is at Watsons Bay and the eldest, David, who recently stepped down from Westfield board after 34 years, is at Vaucluse. Their parents, Frank and Shirley, live on the harbour front at Point Piper.
In May Peter and Steven Lowy took over day-to-day control of Westfield Group as Frank stepped back from the company he founded in 1959.
Frank Lowy, 80, assumed the role of non-executive chairman.
Peter and Steven Lowy have served the company for 28 and 24 years respectively.
Both held operational management roles with the company early in their careers, with Peter starting as assistant treasurer in 1983 and Steven as manager of Garden State Plaza shopping centre in New Jersey in 1987. Both then spent time in leadership positions in operations, development and finance before progressing to more senior country head roles and then joint group managing directors.
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Peter Lowy buys harbour-side Sydney house

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Ingleby, the Denmark-based worldwide group headed by Hans Henrik Koefoed that acquires farms, has paid $10 million for the Tasmanian pastoral farm Symmons Plains.
It was sold by the Youl family, who had resided at the property since the 1820s. The Georgian house dates back to 1839. The property's vendors were Tasmanian tennis player Andrew Youl and his wife, Audrey, a former Tasmanian Olympian and Commonwealth Games medallist swimmer.
In 1960, racing car driver John Youl provided the nearby land for the development of the Symmons Plains Raceway, which now hosts V8 Supercars.
Harcourts Rural agent Michael Warren sold Symmons Plains, with rumours subsequently spreading its buyer was novelist J.K. Rowling.
“There’s certainly plenty of urban myth regarding the sale,” one local agent says.
It was the fourth major property purchased by Clovelly Tasmania Pty Ltd, a subsidiary of Ingleby. The group bought its first Tasmanian property in 2005, which was the 1,800-hectare Bridport property Bowood, for $7.75 million through Roberts agent Peter Stackhouse. Bowood dates from 1838 and had only been sold once before, in 1933.
The company also has properties at Gladstone and Tomahawk.
Under manager Stephen Creese the company breeds livestock and grows potatoes.
Ingleby manages 11 farms in Australia totalling more than 16,000 hectares across four states.
Its daily operation are run by local farm managers.
With farms also in Argentina, New Zealand, Romania, Uraguay and the US, Ingleby employs 180 people worldwide. 
Creese is also connected with Mercer Creese Farming, which offers structured arrangements to suit the landowner, whether it is farm business tenancies, joint ventures or contract farming.
Roger Mercer and Stephen Creese formed a farming partnership in 2008 to invest in the ownership and development of farms in Australia.
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Ingleby buys Symmons Plains

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Expatriate Australian billioniare Michael Hintze has added another NSW property to his rapidly expanding east coast farming portfolio. It's a $1.4 million 410-hectare farm at Munderoo in the south-east of the NSW Riverina.
The London-based hedge fund founder has amassed one of Australia’s fastest-growing farm portfolios, with acquisitions totalling about 45,500 hectares since 2007. His private pension fund, MHPF, has spent about $120 million on the land and water purchases.  
Further acquisitions are still expected by Hintze, who is the founder and senior investment officer of CQS Management, a London-based hedge fund with assets of $US10.5 billion.
The latest NSW purchase is close to the 1,733-hectare Rippling Waters grazing property, which was bought in late 2010 from the failed Willmott Forests timber investment group for $5.7 million. The Upper Murray property was sold by Willmott Forests, now in receivership, three years after it was bought for $7.7 million from Veall Limited, the publicly listed Toorak investment company.
The Hintze portfolio has been accumulated and managed by Richard Taylor, a director of Growth Farms Australia. MHPF has been described as "a newly diversified agricultural force taking shape in eastern Australia" by <a target="_blank" title="The Land" href="https://theland.farmonline.com.au/">The Land</a>'s agricultural writer, Peter Austin. It has 11 properties in NSW and <a target="_blank" title="Michael Hintze buys Queensland sugar properties" href="https://www.propertyobserver.com.au/news/sweet-deal-for-michael-hintze/2011053050346">recently added two sugar cane farms in north Queensland</a>, which marked a shift away from its weighting towards the southern NSW mixed farming of wool, prime lambs, cattle and winter cropping.
The fund has also recently purchased three farming properties totalling 7,980 hectares on the Barwon River in the Walgett district in northern NSW,  with the reported $11 million plus sale negotiated by Moree Real Estate, which advertised the properties for sale in conjunction with Kelly’s Property Sales.
 The purchases have been driven by the view that rural land in Australia now represents good value, in light of the strong global demand for “soft commodities”. A key strategy of the group has been to aggregate parcels of land where possible to achieve efficiencies of scale and cross-property synergies.
Hintze's buying spree began when he spent $12.5 million for a Breadalbane property in July 2007. He has spent another $818,000 on a neighbouring 350-hectare portion of the Goulburn district grazing property Little Wollogorang in 2008. However, in 2009 Lee Macarthur-Onslow, a descendent of the colonial pastoralist John Macarthur, outbid Hintze on another portion of Little Wollogorang. Despite his acquisitions Hintze is not likely to join the Australian Farm Journal's top 10 landholders, since other new players, Macquarie Group and the British private equity company Terra Firma Capital Partners, have between them spent $740 million buying vast chunks of northern Australia. Mr Hintze's biggest purchase was the 7700-hectare grazing property Warrane, west of Armidale, costing $22 million in late 2007.
Hintze's wealth has been estimated by Forbes magazine at $US1.4 billion as at early 20111. Rare with his public pronuncements, Hintze has said he was not just looking for capital gain from the properties. He seeks solid returns on production.
''I'm not a farmer, but I do the numbers. It's got to make money.'' The hedge fund chief, who spent 12 years at Goldman Sachs in roles such as head of European emerging markets, left Sydney in 1980 for Salomon Brothers in New York. Trained as an engineer, Hintze served in the Australian army and started his firm, CQS, in 1999. Its short for "Convertible &amp; Quantitative Strategies." He is a well-known philanthropist with beneficiaries including the University of Sydney.
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Hintze adds another string to his NSW bow

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There is always something causing the rural sector some concern, Herron Todd White valuer David Shuter says.
"If it’s not drought, it’s floods, or locusts.
“Currently it’s mice."
The rodents have inundated west of Wagga Wagga, the Albury-based valuer says.
The official figures suggest more than a million hectares of crop across NSW, <state>South Australia</state>, and <state><place>Victoria</place></state> have been treated with various rodenticides to protect valuable crops and farm infrastructure from mice.
The mouse plague, initially noticed in March, regularly follows major drought.
Mouse numbers can increase rapidly. with litters of up to 11 babies, or “kittens”, every three weeks. NSW Primary Industries Minister Katrina Hodgkinson, says demand for baits over the past fortnight has not kept up with supply from bait manufacturers. NSW has not experienced a significant mouse plague since the early 2000s. NSW mouse numbers are at their highest in key cropping areas within the central west, western, Riverina, <place>Lachlan</place> and now Hume regions.
“The Hume region of the state has seen an increase in activity over the past month, particularly in northern and western cropping areas of Temora, Coolamon and Wagga Wagga,” Hodgkinson says.
“Crop losses continue to occur in a number of the state’s hotspots, including <city>Warren</city>, <city>Wellington</city>, Young, Forbes, Deniliquin and <city><place>Griffith</place></city>.
“Canola, wheat and barley crops are being targeted, with some farmers needing to completely re-sow paddocks.’’
Wet and cold conditions have only a small impact on mouse numbers, and spring could potentially bring more rodents.
“This pest remains a major problem for both our winter crop sowing and for summer harvest, though good planning and control measures will lessen impacts,” Hodgkinson says.
As farmers have spread baits to prevent the mice eating the grain and shoots, Shuter says the mice haven't had any impact in terms of market sale activity.
"There have been some sales, which show that the market looks to be holding steady,” Shuter says. "Although, if the properties for sale keep increasing, we may see the market decline in the short term."
Serious mouse infestations have occurred in grain-growing areas for more than a century.
On average, serious mouse infestations occur about once every four to 10 years and last up to two years.
Infestations are common after good cropping seasons, which was generally the case in 2010-11.
Primary industry officials said traditionally landholders have only reacted to major outbreaks when mice infest buildings, overrun crops or are seen in large numbers on roads. "Mouse numbers can exceed 3,000 a hectare in these situations,” the department guide says.
"However, it is now recognised that reacting to ‘plagues’ may be too late to prevent damage to crops."
Commercial manufacturers supply grain coated in zinc phosphide as mouse bait to rural merchants.
Landholders will then arrange to purchase bait for application by ground rigs or through aerial application.
A major plague of extremely high infestations has the potential to destroy 10 to 12 kilograms of crops per day.
Maximum densities in crop of about 2,700 mice a hectare can occur.
"Severe economic losses over thousands of kilometres are possible," the Department of Primary Industries noted.
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NSW rural sales squeaking through

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I have been writing about property for more than 25 years, and I've learnt that getting passionate about property is easy. Getting it right is trickier. I intend for Property Observer to be property central, providing the essential news and analysis on the ins and outs of property. We will cover the capital cities, up and down the coast, and inland to the regional towns and the bush.
We will offer plenty of authoritative coverage about the homes we live in and the investments that top up our incomes.
Property Observer will showcase the best houses and apartments and all the big-name buyers and sellers. We will also keep a watchful eye on new developments, and the plush over-55 developments that seek out the growing band of empty nesters.
Property Observer will capture the changing seasons – we will write about snow homes, vineyards, fishing lodges, marinas and even the occasional beach bathing box. We aim to be of interest to the owner-occupier and the investor, given that population and investment funds are more fluid than ever.
I intend for commercial investment property to be a key component, especially the opportunities on high street –  retail neighbourhood shops, small strata offices, pubs and industrial strata. All are suitable for the self-managed super fund investor.
The website will offer wisdom on winning ways with property commentary from key economic and industry practitioners. We won’t overlook the property fundamentals, conveyancing clues, legal rulings and tax advice.
We want input from readers on market prices in their local patches, facilitating shared knowledge through dialogue, so <a href="mailto:news@propertyobserver.com.au">let us know</a> about your stories, insights and properties.
It's not just about bricks and mortar, as Property Observer will personalise property with interviews of the movers and shakers.
We want our readers to get wisdom, not clichés. And that way we’ll all be the wealthier.
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Welcome to Property Observer

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Queensland’s sugar cane fields have attracted the investment of expatriate CQS Management hedge fund founder Michael Hintze. His acquisitive personal pension fund has spent about $6.8 million on 300 hectares near Ayr in far north Queensland.

The Townsville district investment is understood to be the first outside of NSW for the Michael Hintze Pension Fund, which is managed for London-based Hintze by Growth Farms Australia.

The purchases were negotiated by Ferry’s Property, according to the Australian Financial Review.

“MHPF is very interested in diversifying its agricultural interests,” Hintze says.

“To that end, sugar seemed a sensible investment.”
The best use of the property at the moment is sugar, but Growth Farms is prepared to shift to other crops if sugar prices change.

Recent nearby cane field sales included a 98-hectare lot with Burdekin River frontage that sold for $1.55 million, which was initially listed for sale in 2009 at $1.85 million. It was bought by Sucrogen subsidiary the Haughton Sugar Company. Sucrogen is now part the Singapore-based Wilmar International, following the 2010 sale of CSR Ltd's sugar division.


Sucrogen has now taken its holdings to about 2500 hectares of farm land. It also controls two harvesting groups, each harvesting about 150,000 tonnes of cane annually.

Queensland Department of Natural Resources records show $14.32 million changed hands in the past seven sales of cane properties, representing 969 hectares from Port Douglas south to Sarina, over the past few months.





Sucrogen bought the priciest property which was a 325-hectare parcel at Upper Haughton for $5.35 million.
 It last sold for $5 million in 2007.
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Sweet deal for Michael Hintze

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."

[smartcode_project:default project_id=106566 project_image_fid=374280]

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."

[smartcode_project:default project_id=106566 project_image_fid=362498]

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.

[smartcode_project_cta:default project_id=106566]

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;

[smartcode_project_cta:default project_id=140818]

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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