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The West Melbourne, Festival Hall, owned by the family of the legendary sports impresario John Wren since 1915, is set to be listed for sale with redevelopment plans.
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Cousins Chris and John Wren – directors of the business that operates Festival Hall – have lodged plans with the City of Melbourne for a two-tower $65 million redevelopment.
The Wren family plan to sell it with a permit for the mixed-used scheme designed by architects Rothelowman.
"We're not developers," Chris Wren, a planning lawyer and director of the family owned Stadiums Pty Ltd, told The Australian Financial Review. 
The premises opened with a boxing match on Cup Eve 1913 under the stars. During Wren's ownership there was boxing on Friday nights, wrestling on Saturday, with Wenesday's a mix of vaudeville or light boxing matches.
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<div><img src="http://www.afr.com/content/dam/images/h/0/n/4/m/l/image.imgtype.afrArticleInline.620x0.png/1516690901987.jpg" alt="A two-tower development with 1400 square metres of commercial space and 179 apartments is planned." width="620" data-src="http://www.afr.com/content/dam/images/h/0/n/4/m/l/image.imgtype.afrArticleInline.620x0.png/1516690901987.jpg"></div>
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<div>A two-tower development has been proposed with 1400 square metres of commercial space and 179 apartments.</div>
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At a time when many moralists regarded gambling as a racket, John Wren obtained great power and wealth over the decades until his death in 1953.
He was the thinly disguised subject of author Frank Hardy's 1950 novel Power Without Glory.
His 2004 biographer James Griffin wrote that Wren's defamations were still current - and even this week one national newspaper described Wren inappropriately as a "crime boss." 
Chris Wren said John Wren (top and below) would not have been sentimental about the site.
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<div>"He would have told us to sell the place ages ago," he said.</div>
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<div>The City of Melbourne has placed an interim heritage order on the site, which they hope to have overturned.</div>
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<div>The building on the site was rebuilt to host boxing events in 1955 after fire destroyed the original structure.</div>
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<div>It has since hosted bands including the Beatles, The Seekers and the Rolling Stones.</div>
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<div>Music guru Molly Meldrum said it would be a shame to lose the 5400-person hall which had lost business since the completion of a retractable roof on the Margaret Court Arena in 2014 drew acts and promoters away.
Festival Hall is the last of a string of event venues the family business once owned in the east coast capitals including premises at Rushcutters Bay in Sydney and Brisbane.
The Collingwood based John Wren bought the three boxing stadiums in 1915 from silver medial Olympian boxer, R L "Snowy" Baker and undertook the Festival Hall roofing at a 230,000 pounds cost.
Sydney held 11,000, Melbourne 7,000 and Brisbane held 5,000.
Laid off work during the 1890s depression, Wren launched his Johnston Street totalizator with a stake bolstered by his 1890 Carbine Melbourne Cup victory gambling coup.
In Victoria his probate was valued at £1,003,946.
 
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jchancellor-FAypfDUnLy

John Wren's family up for fight with Festival Hall redevelopment proposal

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The stockbroker Bell Potter has moved to recommend its clients sell shares in the McGrath Estate Agent group.
The publicly listed estate agency jumped 1 cent in trade today to 51 cents.
The all time low was yesterday's 50 cents which followed board level turmoil which saw founder John McGrath take back the reins at the agency.
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But Bell Potter now expect it to fall to 45 cents. Fellow stockbroker Shaw Partners suggests the share price could fall by half, again.
Bell Potter advised clients that it had lost its confidence in McGrath's ability to "forecast earnings."
It has downgraded its earnings forecasts for the next three years, predicting a loss in the 2018 fiscal year.
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Meanwhile John McGrath has described the tumultuous start to the new year as the "best few days" of his life as he steps in to steer the business.
McGrath was fronting around 1000 agents and team members at the agency's annual "kickstart" event at Royal Randwick Racecourse in Sydney.
<div id="plista_widget_outstream_5a66e8427e93280" class="plista_widget_outstream" data-widget="">"We will be moving forward at a pace not seen before. This business has incredible greatness and resilience," Mr McGrath said, according to a copy of remarks provided to Fairfax Media by the company which now has a $72 million market capitalisation.</div>
"We will be laser-focused, customer-centric, fast, agile and our innovative heritage will once again come to the fore.
''I have more passion and determination than I have ever had.”
“It’s the best few days of my life rather than what could’ve been the worst,” he said, thanking the team for their support.
Bell Potter, along with investment bank JP Morgan, underwrote the sharemarket listing of property agent McGrath in December 2015 at $2.10 a share.
Last January Bell Potter told its clients that McGrath shares were a "hold" with an 86 cent a share 12 month price target, having previously had the shares as a buy.
Broker Bell Potter upgraded its recommendation from a 'hold' to 'buy' at 61¢ a share in February last year. Analyst Chris Savage titled his February 2017 report on the stock "Calling the Bottom".
The much anticipated return of John McGrath to lead the McGrath Group was announced yesterday morning after a shock leak of its fall from profitability emerged in a Stockmarket update.
The stock market was told that McGrath was headed back to running the company he founded in 1988 in Paddington.
The statement read:
"As noted in November, part of Stage Two of the Company’s structural review examined costs in noncustomer facing roles, including among the Company’s board and executive management level and roles where key expertise was unlikely to be required in the medium to long term. That expertise includes material expansion of Company owned offices and growth-oriented M&amp;A initiatives.
Pending interim executive chairman, Mr McGrath said “Like all shareholders I am very disappointed with the performance of the Company over the last two years.
"Now is the time for a new approach. Despite the challenges we have endured since listing, McGrath remains one of the best real estate businesses in Australia with outstanding talent throughout the Company.
"I am very excited and proud to once again be leading the team in the future.”
“Our investors and team have exhibited great patience and loyalty during this difficult time and I intend to work very hard to repay them for their confidence in the Company.
"I have a clear plan to rebuild momentum but I will let our results speak for themselves from here.” 
Chairman Cass O’Connor, who has resigned alonged with non-executive directors Elizabeth Crouch and Cath Rogers, said John McGrath was well placed to take back the reins.
The former McGrath franchisee Shane Smollen has also backed John McGrath to turn around the company he founded 30 years ago.
"There's no reason why John with the right management team can't turn around McGrath," Smollen, its third biggest shareholder, told The Australian Financial Review.
But The Australian reported Smollen has rebuffed suggestions that he is part of a plan to ­return embattled McGrath Real Estate to private hands.
He was McGrath's largest franchisee before selling his network of 10 Sydney offices back to McGrath ahead of the November 2015 IPO for $31.5 million in cash and $21 million in shares, reportedly the highest price paid for a residential real estate business in Australian history.
 
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McGrath Group is a "sell" says float stockbroker Bell Potter

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Sydney's fresh 2018 listings remain subdued, but the backlog of 2018 remains a weight on the increasingly challenged residential market.
There are currently more than 19,000 properties listed for sale across Sydney, which is 29 percent up on the same time last January, according to Corelogic.
It suggests vendors have unrealistic price expectations, possibly above what buyers are prepared to pay, and also possibly above what banks are prepared to lend on the homes.
There have been 3000 fresh listings in the past four weeks. This sits as six down on the same time last year in Sydney.
Hobart, the countries hottest property market, is also the tightest market.
CoreLogic say the overall 987 offering is down 38 percent on the same time last January.
Click here <a href="https://www.propertyobserver.com.au/images/2018/1/22/corelogics.jpg" target="_blank">to enlarge. </a>
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Although it is a quiet month, Sydney's values have been weakening. The annual growth rate has eased to 1.9 percent. Melbourne remains the leader at 8.4 percent t annualised growth.
Click here <a href="https://www.propertyobserver.com.au/images/2018/1/22/corelogics2.jpg" target="_blank">to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/1/22/corelogics2.jpg" alt="">
January is a slow time of the year when agents are still away which has seen the typical days of market jump.
Perth remains the slowest capital with houses typically selling after 74 days and units taking 87 days. Brisbane's unit market is the second slowest at 82 days.
A recent Perth sale saw an <a href="https://reiwa.com.au/39-knebworth-avenue-perth-3953974/" target="_blank">1890s home modernised by CNN Architects</a> (top) take 124 days before it sold for $835,000. It initially had a $899,000 to $949,000 guide.
CNN Architects were behind the Fremantle Wool Stores and the Old Treasury Building.
Click here <a href="https://www.propertyobserver.com.au/images/2018/1/22/corelogics%203.jpg" target="_blank">to enlarge.</a>
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Sydney's unsold property offerings remain high, but with fewer fresh listings

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Deteriorating trading results in the McGrath estate agency finances have emerged in an internal document obtained by The Australian Financial Review.
The Fairfax newspaper advised it had obtained a document, McGrath Group Report November 2017, that showed McGrath Limited had sunk to a $1.3 million loss as it suffered from falling commission income from residential sales, against the targeted $3.3 million net profit after tax between July and November 30.
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A leak also advised there had been infighting within the publicly listed company board, and even "threats by the board to resign en masse over the Christmas holiday."
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<div>There was a McGrath board meeting on Friday but no announcements made to the stockmarket. It comes just hours before John McGrath was taking back the reigns of the McGrath Group.</div>
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<div>"It is understood the majority of the board clashed with Mr McGrath over the wording of the next trading upgrade to the ASX," The Australian Financial Review reported.</div>
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The loss for the first five months of the financial year compared to a $2.7 million net profit in the six months to December 2016.
Since listing in December 2015 McGrath has delivered several profit warnings prompting McGrath shares to be trading at around 57¢, well below its IPO price of $2.10. It has previously traded as low as 52 cents and fell back to 52 cents this morning.
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The emerging financial position could ignite more privatisation expectation of the agency which has a $76 million market capitalisation ahead of trade this morning.
John McGrath, who holds 26 per cent of the company, is now in a better position to lodge any bid, following his resignation last week from the board of the REA Group after 18 years. He holds $10.8 million REA Group shares which could be more readily sold given he was no longer a director the realestate website publishing group.
The internal documents show McGrath missed its internal forecast for earnings before interest, tax, depreciation and amortisation (EBITDA) by more than 80 per cent in the five months to November to generate $1.3 million instead of $7.8 million it had earlier expected. 
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The documents reportedly show the McGrath balance sheet has been hit by a large depreciation of its rent roll asset (or property management operations).
Operational expenses met budget expectations.
But there was a blowout in doubtful debts and legal fees due to an increase in legal action.
McGrath's earnings are substantially below forecasts by equities analyst Bell Potter, which estimated the group earnings of $16.6 million in 2018.
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<div>The board indicated in an update to the market last November that the agency might miss analyst targets.</div>
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"FY18 earnings could be 20 per cent to 25 per cent lower than the current analyst estimate, due to high restructuring charges and a partial year of cost savings," the company said.
When approached by the Financial Review, McGrath declined to comment over the weekend.
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"McGrath declined to comment other than to say the company is well aware of its continuous disclosure obligations which we take very seriously," a spokeswoman said.
The board, chaired by Cass O'Connor, has just five members including John McGrath. The other there directors are Elizabeth Crouch, Nigel Dews and Cath Rogers. Cameron Judson is the chief executive officer, Glynn Wright, the chief financial officer and Morgan Sloper, its head of corporate services/company secretary.
Several former Mcgrath executives have run a clandestine campaign of denigration against the group over the past year.
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Extraordinary McGrath Group leak suggests board in turmoil

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Harry Dent, one of the world’s most controversial economic futurists, will be touring Australia again in February.
He will be in Australia from February 24 to March 2 to discuss his latest research findings on the future of the economy.
His pitch will be how to build and protect your wealth during uncertain times which he describes as the greatest social, economic, and political upheaval since the American Revolution.
“I’m convinced that the combination of cheap money, inflated debt, declining demographics and politics will ultimately lead to a (stock) market crash worse than any we’ve ever seen.
"But that doesn’t mean you can’t still make some money in stocks right now. You see, the same forces that will ultimately lead to the next (stock) market crash are also the same forces that continue to drive this bull market “ says Harry.
He suggests Australia is a relative "safe haven."
But he will presumably offer his advice on exiting Australian property markets to a potentially understandably sceptical audience.
Last time he toured in 2014 Harry Dent's worst case scenario was for a post-China bubble burst impacting on Sydney with property prices possibly set to collapse by as much as 60 percent or so.
His controversial forecasts were labelled as "scaremongering" by commentator Chris Joye.
As he did on Harry Dent's earlier 2011 crash forecast, the founder of listed wealth manager Yellow Brick Road Mark Bouris also countered the claims. 
Bouris always maintained that Australia was well-positioned to navigate international turbulence.
In 2011 remarks on David Koch’s Sunrise program, Dent begged viewers to sell their homes before the 50 percent crash in prices arrived at their doorsteps.
Dent’s claim was that Australian dwelling values were “9.5 times family incomes”, and should, in his view, be about “half” that level.
Dwelling prices in Sydney now have an $895,000 median, up from $610,000 in early 2014, according to CoreLogic, who have noted a 2 percent fall over the past quarter.
It represents a 46 percent rise since Dent's 2014 warning. Sydney's median dwelling price was around $500,000 in 2011.
Blogger Pete Wargent noted in 2014 Dent's "track record has been wildly inaccurate."
<a href="https://harrydentlive.com" target="_blank">Next month</a> Harry Dent starts in Perth on Saturday 24th February, then Melbourne Monday 26th February, Sydney Tuesday 27thFebruary, Brisbane Wednesday 28th February and even Newcastle on Friday 2ndMarch. 
All attendees get copy of Dent’s new best seller Zero Hour.
The early bird pricing is $47.
Ofcourse Dent's most noted tip was that Japan, then on top of the economic world, would suffer a slowdown lasting more than a decade.
It is still pretty much in a coma, he notes, some two decades after the 1991 peak.
Last time he toured he told his audience: "You can't keep bubbles from bursting for ever."
Dent made headlines when he remarked that the Australian property market was like popcorn popping - different markets bursting at different times, noting the high risk of the expansionary China collapse in hurting Australian property prices.
"There is no way there will be a soft landing in China." he suggests even if the government seeks it. 
"China's blow will really hit Australia," he said.
Asked on his hit and miss success rate, Dent was forthright.
"I am likely to get 30 or 40% of forecasts wrong in the timing," he said.
His US critics point to his 2005 forecast that the Dow would hit 40,000 by the end of the decade. His local critics point to his 2011 call that property in Australia was set to crash.
Saying it often can be just one piece of information that can provide the clue, his late 1980s Japanese forecast was based on his premise that people slow in spending way ahead of retirement, from 46 years onwards.
Asked how much understanding the pysche of the population of a city or country was helpful in understanding market movement, and he agreed.
"You are right, yes markets do go up and down together, but to different degrees.
"But the bubble will be here and there, say Melbourne and Brisbane."
Harry is the founder and senior editor at Dent Research, where he seeks to identify and study demographic, technological, consumer spending and geopolitical trends to forecast economic booms and busts well ahead of the mainstream.
His latest publicity blurb put out by Max Markson seeks to address his many critics.
"Mainstream media pundits are calling me crazy, an idiot, and a quack.
"But that’s nothing new…
"After all, I’ve been making predictions that people are sceptical of for decades… but one after another keeps coming true anyway!"
{mijopolls 149}  
 
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With a 46 percent property price rise, will anyone believe futurist Harry Dent on his Australian tour next month 

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The residents of idyllic Hyams Beach, the NSW South Coast town, are unhappy with the torrent of summer tourists drawn to their picturesque beach.
"We need to close the village when the village is full," Lois Sparkles, a committee member of the Hyams Beach Villagers Association told Fairfax Media.
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"We need a system to limit the number of cars coming in," she says.
Tourism and infrastructure spending has helped make Hyams Beach one of the hot spots of the NSW tourism industry, if international tourists can't get to Whitehaven in Queensland.
Recently it was declared Hyams didn't have the whitest sand in the country, it was likely a beach in WA.
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A NSW tourist campaign has promoted the beach on the back of Sydney buses while false claims spread on the internet suggest that Guiness World Records had declared it the whitest beach in the world.
The permanent population of 112 jumps to 4000 people some summer evenings, and the streets become overwhelmed with traffic, according to residents.
This Australia Day weekend could be its busiest ever.
The lobby group got <a href="http://www.southcoastregister.com.au/story/5153312/popularity-of-hyams-beach-hideous-for-residents/" target="_blank">local Fairfax Media coverage</a> in the South Coast Register, with four articles early in the new year including <a href="http://www.southcoastregister.com.au/story/5159181/hyams-beach-traffic-debate/" target="_blank">pictures of the traffic</a> after rangers were forced to turn visitors away, some of whom had travelled three hours for a Hyams Beach experience. 
Then the issues appeared on the Domain website, without reference to Fairfax's South Coast Register, and has since escalated nationally after the CommBank chairperson Catherine Livingstone and her husband, Michael Satterthwaite were smartly spotted amid a nondescript photo of the annoyed activists by the Australian Financial Review's<a href="http://www.afr.com/brand/rear-window/livingstone-maybe-and-choueifate-try-new-roles-20180115-h0inwy" target="_blank"> Rear Window column</a>.
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"She's here quite a bit," said Morgan Sant, the president of the villagers association advised. "Like everybody else she wants to enjoy the ambience that Hyams Beach has most the year all year around."
They paid $940,000 in 2002, securing a $200,000 renovation approval in 2005.
It had previously been a rental known as Watermark.
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Amanda Findley, the local mayor, said the Shoalhaven City Council hopes to find a solution by Easter.
Mayor Findley recommended Callala Beach and Bay, which has the same white sand, and peaceful bay without the congestion, with plenty of parking spaces.
Ms Livingstone suggests a shuttle from a carpark outside the village, which is hemmed in by pristine bushland. 
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<div>Commonwealth Bank chairman Catherine Livingstone wore dark glasses for a photograph of Hyams Beach residents upset with congestion.</div>
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Offering direct beach access to Hyams Beach from its exclusive position, nearby <a href="https://www.realestate.com.au/sold/property-house-nsw-hyams+beach-125796122" target="_blank">94 Cyrus</a> recently sold for a record $3.5 million.
The home was only completed in June and was built and fully landscaped by Tim Clout, one of the best builders in Jervis Bay.
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It last traded for $1.7 million in 2014 as a vacant 880 sqm land parcel.
The home has four bedrooms, three bathrooms, a large front deck, covered walkways and a swimming pool.
Comparable homes in Hyams Beach would generate over $110,000 per annum, with a peak weekly rate of around $6,500, according to the marketing.
South Coast Properties agent Craig McIntosh sold the home after $3.5 million hopes.
Cyrus Street is the localities millionaire's row. The top 10 most expensive homes in the area have sold on the street.
94 Cyrus would set the price record that has barely been challenged since 2007 when Elandra, a seven bedroom home seven doors down sold for $3.44 million.
It was bought by former bankrupt Keddies partner Scott Roulstone and wife Kathryn.
Last year another Cyrus Street home fetched $2.86 million. 
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Mayhem at Hyams with CommBank's Catherine Livingstone turning activist

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The anticipated rescue of auction house Mossgreen is not happening.
Its 330 plus creditors were advised Mossgreen founder Paul Sumner had indicated his proposed deed of arrangement was not proceeding.
Instead Sumner will do everything in his power "to help creditors, to maximise what they receive,’’ he told Fairfax Media.
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Some $5.8 million is owed to clients who sold paintings, books, cars and other collectibles through the company over recent months.
Around 30 of the firm's 40 plus staff were made redundant by administrators on Wednesday.
The remaining staff will do a stocktake of items still being held on premises.
The items are not considered Mossgreen assets having been consigned goods, although their return will be delayed until a full stocktake is complete, a statement said.
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The former backer Jack Gringlas's Jadig Investments is the major secured creditor.
The secured loan facility from Jadig was provided to fund its expansion with interest being charged at $40,000 a month
The auction house fell into voluntary external administration last month.
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Mossgreen, known for its Armadale tea rooms at 926-930 High Street, and single-owner house content sales, owes $5.8 million to auction clients, plus $6 million to its former part-owner, Jack Gringlas.
There were 330 creditors identified at the meeting last week who were told no law required trust accounts for the auction proceeds.
The names of the creditors are a who's who from across Australia, ranging from passionate collectors, socialites, low key business tycoons to deceased estates.
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The biggest unsecured creditor stemmed from the auction of a book collection.
Some $1.75 million is owed to the family of <a href="http://www.mossgreen.com.au/content/event/the-collection-of-martin-copley-am/" target="_blank">the late wealthy insurance underwriter Martin Copley</a> who auctioned off the books in October.
The second biggest client was another deceased estate, that of the late South Australian building industry icon Alan Hickinbotham and his late wife Margaret. 
It was billed as the highest value collection ever to be sold in Adelaide when auctioned in May by Mossgreen's chief, Paul Sumner.
Mossgreen's most recent auction on December 7 last year was the contents of the Sheehy family with just 274 of the 438 lots being sold. The family, who are owed $45,000, inquired at the meeting whether Sumner's passport would be surrendered.<a href="https://www.mossgreen.com.au/content/event/the-ralph-drexel-collection-online-part-6/" target="_blank"> </a>
The collapse of the much heralded restructuring plan means that an earlier hope of the gallery's co-founder to return all vendor money is now uncertain, according to Fairfax Media.
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"When I said that vendor creditors would be paid 100 cents in the dollar and staff would keep their jobs, it was based on a witnessed agreement with the secured creditor," Sumner told The Australian Financial Review on Wednesday.
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But when previously asked the about creditors' chances of getting their money back, Gringlas had officially noted Sumner had "written to every vendor and told them they're going to get 100 cents in the dollar ... that he is putting in place arrangements to ensure that they all get paid. So he must believe it. I don't know where that money is coming from because there isn't the money in the company, so I can only assume he's planning to bring more money into the company."
Gringlas sold the leased High Street, Melbourne premises mid-last year for around $10 million to John Karkar.
The collapse of this supposed agreement with Jadig Investments, which Sumner declined to detail to The Australian Financial Review, means the distribution of funds is in the hands of administrators.
The inside suggestion is 20 cents in the dollar.
In a statement, the administrators said they would now "begin the process of an orderly wind down of the business. Notwithstanding this, a sale will be considered and expressions of interest shall be sought."
Mossgreen was founded in 2004 by Sumner and wife Amanda Swanson.
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Mossgreen administration gathers no white knight

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Estate agent John McGrath is departing the board of the REA Group.
He has been on the board since its 1999 float. He was its chairman for four years until 2007.
McGrath was an early adopter of new technology, instrumental in seeing the digital real estate website eventually succeeding in what had been a sales industry slow to embrace change. In 2000 McGrath convinced Lachlan Murdoch to take equity, in a deal that saved the small internet start-up from a dotcom implosion. Pamela Williams' book, Killing Fairfax noted the two young men had met on the board of the Museum of Contemporary Art Young Patrons group.
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REA Group announced that McGrath will step down from the board on 16 January 2018.
Chairman Hamish McLennan acknowledged McGrath’s service to the Board.
“Mr McGrath’s lengthy contribution to the REA Group has been highly regarded by the board.
"I am particularly grateful for his invaluable industry knowledge.
"He leaves the group with a multi-billion dollar market capitalisation and we wish him the best of luck”. 
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A search for a new independent director is now being undertaken. 
McGrath has been the only board member directly connected to the Australian real estate industry since the 2012 departure of Sam White.
McGrath's final director's interest statement advised he had 146,000 shares which were trading at $74 a share.
McGrath, who began his now listed estate agency in 1988, remains an executive director at the McGrath group.
The REA Group's humble beginnings in 1995 was a garage in Doncaster, in the Eastern suburbs of Melbourne, as noted in Killing Fairfax: Packer, Murdoch and the Ultimate Revenge by Pamela Williams, published by HarperCollins in 2013.
Martin Howell and Karl Sabljak, who had been working at the Royal Melbourne Institute of Technology (RMIT) as computer systems administrators, registered the realestate.com.au URL in August 1995.
In August 1999 Andrew Barnes oversaw negotiations for Macquarie Bank to to buy a controlling stake of 51 per cent for just under $1 million.
With Andrew Barnes as chairman, and 15 million shares issued at 50¢, realestate.com.au was admitted to the Australian Stock Exchange in December 1999.  
While it opened at $1.50 a share in December, 1999, it was trading between 15¢ and 20¢ in 2000.
On November 30, 2000, News Limited announced it had invested cash of $2.25 million in realestate.com.au, plus advertising, marketing and other contra for a total investment worth $10.75 million in the deal negotiated by Lachlan Murdoch.
In 2013, Rupert Murdoch expressed his delight at having its REA investment.
"And I don’t remember Lachlan even asking me about it,” he added.
News Limited took an initial 44 per cent stake with an option to acquire a further 10 million shares over the next five years.
Macquarie Bank would remain a shareholder but News would acquire the outstanding amount of Macquarie’s loan facilities. 
The digital website company now has a $9.75 billion market capitalisation. News Limited holds 61 percent.
The Domain website at John Fairfax &amp; Sons was launched in October 1999, four years behind realestate.com.au.
In May 2001 Red Sheriff, a company which audited website traffic statistics, revealed realestate.com.au had shot past Fairfax’s domain.com.au with more visitors to its site. 
"Horrifyingly for Fairfax, domain.com.au had fallen to second place," Pam Williams wrote.
"It was a moment in time when the advertising world that had been comprehensively dominated by Fairfax showed its first cracks," she wrote.
Now listed separately, Domain's market cap is $1.9 billion.
 
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John McGrath exits REA Group board after 18 year stint

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The creditors who attended the first Mossgreen creditors' meeting last week have been advised no law required trust accounts for the auction proceeds.
The auction house Mossgreen fell into voluntary external administration last month, and its creditors anxiously await a rescue package with the promised full repayment from its founder, Paul Sumner.
Sumner told media outlets - ahead of the 1.30 hour meeting which he did not attend - that no creditor would be out of pocket. 
Inside the meeting there was a sense of forbode.
"Looking at the present figures, it appears that the best case scenario for creditors is no return," one of the despondent 330 creditors represented at the meeting suggested.
Sumner, the son of art and antique dealers, said the administration was due to debts following the company's rapid expansion and the withdrawal of its key investor, Jack Gringlas, who is the major secured creditor.
In July last year, Sumner and his wife, Amanda Swanson bought back Gringlas' share of the business.
"Since then, we've been advised to take the [voluntary administration] course, as the best way to clear historical debt – associated with previous investors – out of the business, and restructure the company and move forward," Mr Sumner told his local paper, The Age.
"Not one vendor or one buyer will lose one dollar in this process," he said.
"Mossgreen is a business that relies on trust, so when you do something like this, your reputation will be affected, by how you deal with your vendors and buyers."
“It is the best was to clear historical debt, accrued through previous investors,” Sumner also told the rival Herald Sun.
He even told the Sydney Morning Herald Private Sydney gossip columnist Andrew Hornery: "I want to assure every vendor that they will get their money ... every cent of it."
Mossgreen, known for its Armadale tea rooms at 926-930 High Street, and single-owner house content sales, owes $5.8 million to auction clients, plus $6 million to the former part-owner, Jack Gringlas with interest being charged at $40,000 a month.
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The first creditors' meeting was told the assets were $1.6 million cash in the bank along with $1.2 million owed by auction lot buyers, who have a legal binding contract that can not be terminated by the administrators.
The staff are owed possibly around $1 million. The company's superannuation and tax obligations were indicated as "relatively" up to date.
College Capital came forward at the creditors' meeting asking to be noted as a secured creditor. The secured Westpac amount was a $12,000 credit card facility.
The biggest unsecured creditor stemmed from the auction of a book collection.
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Some $1.75 million is owed to the family of the late wealthy insurance underwriter Martin Copley who auctioned off the books in October.
The first question at the creditors' meeting asked on the status of any auction sale proceeds.
The meeting chairman advised "that the company was not required by law to operate a trust account."
The administrators were exploring whether a constructive trust arrangement existed.
It was likely they would approach the courts to rule on the matter.
This course was challenged by Minter Ellison lawyer Lindsay Powers, on behalf of art collector Michele Asprey, who suggested "this was the clearest case of a trust relationship he has encountered." 
The chairman advised that initial legal advice had been obtained and it was considered necessary to obtain directions from the court "due to the various classes of creditors, the estimated shortfall to creditors and the overall complexity of the matter."
The chairman, James White from BDO, indicated his personal view was that unsold goods held on consignment remained the property of the vendors. 
The chairman indicated the administrators were not planning to hold any auctions. The Queen Street, Woollahra premises were to be vacated. It was the intention of the administrators to advertise the business for sale/retructure. Unsold consignment items will be available for collection from January 15 in an orderly way.
In August The Australian Financial Review reported Mossgreen was shedding more than a dozen staff, adding Sumner advised it is business as usual at the Melbourne-based auction house, "which continues to line up sales at a frenetic pace."
Sumner said the staff restructure reflected the firm's increasing focus on single-owner collections and higher value lots following its expansion in recent years - including the merger with the Charles Leski stamp auction group in 2013 and the takeover of New Zealand's Webb's in 2016.
"We've probably grown a little bit fast considering that the market plateaued," Sumner told the mainstream media late December after the news emerged pre-Christmas on Property Observer of the administrators being called in.
"I'll be the first to say that that's the case," he advised.
"What we're doing now is the opposite. We're restructuring, taking out some of the costs of our business, so that we are a much leaner, healthier business starting from the first of February." 
The media also reported Sumner said Mossgreen did not plan to close any outlets.
The creditors' meeting chairman noted the current situation was that "the company had a high cost base with substantial rent costs, a large number of employees and was funding the losses of the New Zealand business."
The NZ business was indebted to the company for inexcess of $1 million.
"Auction monies were essentially used to fund the working capital and trading losses of the business," the creditors were told by the chairman as he closed the meeting.
Asked by a creditor on the 100% repayment advisory from Sumner, the chairman replied: "This was the view of Mr Sumner and did not reflect the administrators' position."
Creditors departed, concerned that the limited known available proceeds will be reduced by administration fees and court costs.
 
 
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Creditors told no law required auction trust accounts before Mossgreen administration

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Peter Rowland, the Melbourne society catering company ranks among the top six unsecured creditors, after the auction house Mossgreen fell into voluntary external administration last month.
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Mossgreen, known for its Armadale tea rooms at 926-930 High Street, and single-owner house content sales, owes $5.8 million to auction clients, plus $6 million to its secured creditor, the former part-owner, Jack Gringlas.
The assets have been advised as $1.6 million in the bank and $1.2 million owed by auction lot buyers.
Around $166,000 is owed to the catering company who sent its executive director Steven Abela to the first creditors' meeting. There were 330 creditors identified at the meeting last week who were told no law required trust accounts for the auction proceeds.
The names of the creditors are a who's who from across Australia, ranging from passionate collectors, socialites, low key business tycoons to deceased estates.
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The biggest unsecured creditor stemmed from the auction of a book collection.
Some $1.75 million is owed to the family of <a href="http://www.mossgreen.com.au/content/event/the-collection-of-martin-copley-am/" target="_blank">the late wealthy insurance underwriter Martin Copley</a> who auctioned off the books in October.
The British-born Copley, but Perth-based businessman, remembered for founding the Australian Wildlife Conservancy (AWC), died in 2014.
His auction items included John Gould's monumental The Birds of Australia, a large folio in eight volumes with 681 hand-coloured lithographed plates, bound in dark green morocco by Riviere, an original subscriber's set, which sold at $446,400 including premium.
Martin's daughter, Sophie Chamberlain sits on the board of AWC.
The second biggest client was another deceased estate, that of the late South Australian building industry icon Alan Hickinbotham and his late wife Margaret. 
It was billed as the highest value collection ever to be sold in Adelaide when auctioned in May by Mossgreen's chief, Paul Sumner.
The family are still owned somewhere between $960,000 and $1.2 million. The sold works included a Russell Drysdale, Grandma’s Sunday Walk, which had an estimated value of $1.8 million to $2.2 million. It was one of the last masterpieces painted by acclaimed Australian artist just before he lost his eyesight — selling for $2.97 million, the fifth-highest price for any Australian artwork at auction.
The total collection in <a href="http://www.mossgreen.com.au/content/event/hickinbotham-collection/" target="_blank">the Unley Park home</a> sold for $4.35 million.
Sydney's society Coppleson family were listed as owed $465,000, the third highest-owed creditor.
It followed the sale of the contents of the Macleay Regis penthouse, home of the late esteemed gynaecologist Professor Malcolm Coppleson and his late wife, Patricia, who was Vogue Living’s editor-at-large.
The 172 lots (<a href="http://www.mossgreen.com.au/content/event/the-malcolm-and-patricia-coppleson-collection/" target="_blank">pictured above onsite</a>) included the sale of a $192,200 Ian Fairweather work which had an $80,000 to $120,000 price guidance. A Tim Maguire fetched $117,800.
Trevor Chappell, the Sydney-based property developer, is owed $130,000, having developed a strong appreciation of Aboriginal art with wife, Carole before they then diversified into modern Western art. The works were initially displayed at the couple's Sydney home but as the collection grew it went on show at the company's offices and then toured community groups across Australia.
The collection was offered following a review of the Chappell family's estate planning.
Mossgreen's most recent auction on December 7 last year was the contents of the Sheehy family with just 274 of the 438 lots being sold. The family, who are owed $45,000, inquired at the meeting whether Sumner's passport would be surrendered.
<a href="https://www.mossgreen.com.au/content/event/the-ralph-drexel-collection-online-part-6/" target="_blank">Ralph Drexel</a> was listed as being owed $43,000.
<a href="https://www.propertyobserver.com.au/https://www.mossgreen.com.au/m/view-auctions/catalog/id/472?page=2&amp;cat=1056" target="_blank">The Jelbart family</a> were owed $50,000 after the sale of the contents of the trophy Eltham home, Kinloch.
Torbjorn Von Strokirch is owned $225,000.
Perth socialite Rhonda Wyllie is owed $145,000. Ruth Rosalion owed $43,000.
Leonie Weldon ranks among the creditors owned $32,000. 
Tom Frommer is owed $17,000. <a href="http://www.mossgreen.com.au/content/event/tom-frommers-airmails-part-ii-famous-pilots-famous-flights-international-australia-new-guinea-papua/" target="_blank">Frommer's collection of pioneer Australian air mails</a> was billed as one of the more important events in the philatelic calendar.
Deeta McGeogh, Michele Asprey, Patsy Kentwell, Vernia Bullivant, Bill Curry, and Ellen Kronen (the Waterhouse family collection) were owned between $1000 and $10,000.
Likewise Rex Dupain after the sale of <a href="http://www.mossgreen.com.au/content/event/the-max-dupain-collection-2/" target="_blank">Max Dupain works</a>.
Sam Gazal, Judy Roach, Michael Greenhalgh and Manuela Bennett are among the creditors owed $1000 or less. There was also Garry Hounsell.
John Gould was owed $862. 
Paul Sumner, who opted not to attend the meeting, and his fellow director, and wife, Amanda Swanson were listed as being entitled to $470.
Sumner, the son of art and antique dealers, took his first auction at age 17.
Judi Hausmann appears on the creditors list without any amount showing, as did Antony Loneragan.
Businesses owed money include Grace Worldwide owed $43,000, Courtney Colour catalogues $62,000 plus, Talisman Art owed $176,000, Exhibitions &amp; Trade Fairs owed $90,000 and the ad agency Spinach owed $50,000.
Brooklands Classic Cars owed $48,000 has asked the BDO administrators to seek out the motor car trader guarantee fund.
After attracting financial backing from Melbourne developer Mohan Du, Peter Rowland Catering, Melbourne’s longest running hospitality group, was acquired by investment firm Capital Alliance last September, allowing it to continue trading after personal circumstances and poor management had resulted in it posting financial losses.
The Age reported Peter Rowland Catering had been quietly placed into administration last August.
Rowland sold his $8.6 million Toorak mansion he and his wife had built – "the business paid for the house, so I thought it was right that the house should support the business," he said – and used the money to bail out the beleaguered business.
The catering company employs more than 100 full-time staff and 2000 part-timers throughout the year and Rowland said only about half a dozen jobs had been lost as a result of the acquisition.
After all the catering company turmoil, most of all, Rowland, who remains chairman, but without equity, indicated he wanted to be able look people in the eye.
"I am part of Melbourne. Melbourne is my town," he said.
"I don't want to walk away from it."
 
 
 
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Peter Rowland Catering caught amid the Mossgreen auction house administration creditors

<a href="https://www.apartments.com.au/developers/consolidated-properties">Consolidated Properties Group</a> (CPG) is approaching the launch of its latest Brisbane riverfront development, Castile, on the dress circle Skyring Terrace in Newstead.

VIP buyers are now being engaged, with a full public sales launch coming later this year.

Positioned as the final opportunity to secure a new absolute riverfront residence on the East bank of Newstead, Teneriffe or New Farm, Castile at 47 Skyring Terrace has been designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> as a timeless addition to the Brisbane skyline.&nbsp;

[smartcode_project:default project_id=150489 project_image_fid=371113]

The name Castile draws on themes of permanence, sophistication and legacy, reflecting a broader vision centred on enduring architecture and timelessness in the rarest of riverfront positions.&nbsp;

CPG Chairman and CEO Don O’Rorke said the project had been envisioned as a future Brisbane icon.&nbsp;

“With 47 metres of direct river frontage and never to be built out views, 47 Skyring Terrace is the definitive address on the Brisbane River,” O’Rorke said.&nbsp;

[smartcode_project:default project_id=150489 project_image_fid=371114]

“Rather than following trend-based apartment design, Castile draws inspiration from Brisbane’s great heritage buildings, reinterpreting classical architecture into a contemporary riverfront landmark designed to stand proudly for the next 100 years,” he said.&nbsp;

The approved development will comprise 227 apartments across a 25-storey tower alongside a boutique six-storey riverfront building of just 12 residences.&nbsp;

Construction is scheduled to commence in September 2026.

[smartcode_project_cta:default project_id=150489]

Joel Robinson

CPG unveils Castile Newstead ahead of upcoming sales launch

Australia’s online shopping habits have shifted dramatically over the last decade. As eCommerce volumes surged, so too did the frustrations that came with traditional parcel delivery: missed deliveries, long Post Office queues, parcel theft and the challenge of being home during business hours.

Australia Post’s Parcel Lockers emerged as one of the more practical responses to that changing consumer behaviour.

What started as a relatively niche delivery option has evolved into a nationwide network of more than 1,400 self-service Parcel Lockers positioned at train stations, shopping centres, supermarkets and Post Offices across the country. The system allows Australians to send, collect and return parcels 24 hours a day, fundamentally changing how many people interact with deliveries.

The appeal is relatively straightforward: flexibility.

Instead of waiting at home for a delivery driver or rushing to a Post Office before closing time, users can direct eligible parcels to a Parcel Locker location of their choice. Once the parcel arrives, Australia Post sends a notification with a collection code or QR access through the AusPost app, allowing customers to retrieve their package at any time within the collection window.

For apartment residents in particular, the system has become increasingly valuable.

Higher-density living has created logistical challenges around deliveries, especially in buildings without concierge services or secure parcel rooms. Missed deliveries are common, while parcel theft has become an increasing concern as online shopping volumes continue to rise.

Australia Post itself has repeatedly highlighted the growing issue of “porch pirates” during peak shopping periods, encouraging customers to use Parcel Lockers as a safer alternative to unattended home deliveries.

That security aspect is one of the key reasons the Australia Post Parcel Locker network has grown so rapidly.

Parcel Lockers are positioned as secure, monitored collection points that reduce the risk of theft while also improving delivery efficiency for Australia Post. Instead of multiple redelivery attempts, parcels can be consolidated into a single secure destination.

The Parcel Lockers themselves are free to use through a MyPost account and support a range of parcel sizes up to 16 kilograms and dimensions of approximately 35 x 44 x 61 centimetres.

Beyond receiving parcels, the system has increasingly become integrated into the broader eCommerce ecosystem.

Customers can now use Parcel Lockers to return online purchases, while retailers have embraced the model as a way to improve delivery success rates and reduce friction in the shopping process. Australia Post has actively expanded partnerships with major retailers and promoted Parcel Lockers as part of a broader out-of-home strategy.

The timing of that expansion aligns with broader changes in Australian shopping behaviour.

The acceleration of online retail during and after the pandemic placed enormous pressure on delivery infrastructure. Parcel volumes reached record highs, particularly during Black Friday and Christmas periods, with Australia Post delivering more than 100 million parcels during peak festive seasons.

That growth forced logistics providers to rethink the “last mile” of delivery, widely regarded as the most expensive and operationally difficult stage of the process.

Parcel Locker systems have increasingly been viewed as part of the long-term solution.

The concept itself is not unique to Australia. Parcel Locker networks have become common globally, particularly across Europe and Asia, where dense urban environments and apartment living create similar logistical challenges. But Australia’s geography and suburban sprawl made adoption slower initially.

Now, however, the convenience factor is driving mainstream usage.

For commuters, Parcel Lockers near train stations allow parcels to be collected on the way home from work. For apartment dwellers, they remove the uncertainty around access and missed deliveries.

The rise of the AusPost app has also streamlined the experience, centralising notifications, tracking and Parcel Locker access into a single platform. Australia Post has increasingly pushed customers toward app-based delivery management, partly as a way to combat phishing scams and fake delivery notifications, which have become more sophisticated in recent years.

The Parcel Locker model is also beginning to influence property development itself.

Parcel management has become a growing consideration in apartment building design, particularly as online shopping becomes embedded in everyday life. Many new residential developments are now incorporating dedicated parcel rooms or Parcel Locker systems into foyers and communal spaces.

For developers, parcel management is increasingly viewed as part of the broader resident amenity offering, alongside gyms, wellness spaces and communal work areas.

That reflects a wider evolution in how residential buildings are designed.

Apartment buyers are placing greater emphasis on convenience, security and operational functionality, particularly in higher-density urban environments. Parcel delivery, once considered a minor operational detail, has become an increasingly important part of that equation.

Australia Post’s Parcel Locker network sits at the centre of that behavioural shift.

What began as a simple alternative delivery option has evolved into a key piece of infrastructure supporting Australia’s growing eCommerce economy and changing urban lifestyles.

And as online shopping continues to expand, the role of Parcel Lockers is likely to become even more embedded in how Australians live, shop and receive goods.

How Australia Post Parcel Lockers changed parcel delivery convenience in Australia

Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Jonathan Chancellor

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