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A Cottesloe home sold twice this year in Perth, perhaps the only property to head upwards in price too.
The <a href="https://www.realestate.com.au/property/13-pearse-st-cottesloe-wa-6011" target="_blank">13 Pearse Street</a> holding sold for $7.05 million in June, then again for $7.55 million last month.
The latest buyer was a company co-directed by mining magnate Kerry Harmanis, which owns three neighbouring properties on the street.
The windfall came to Colin Herdman who had bought the property from the Kidd family in June.
It faces onto Avonmore Terrace.
<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/2016/12/23/Cottesloe-2.jpg" alt="">
Harmanis bought the corner home on 1000 square metres, prompting the Perthnow website to speculate Harmanis may seek to create a luxury redevelopment on the four blocks.
The largest block, at a little over 1000 square metres, cost $10.5 million in 2007. 
Harmanis founded the nickel miner Jubilee Mines in 1987. It was acquired by mining giant Xstrata in 2007 for $3.1 billion.
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jchancellor-FAypfDUnLy

Kerry Harmanis secures Cottesloe house that sold twice in 2016

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Rona at Bellevue Hill, which was the big springtime prestige listing, nears year-end still for sale.
The 1880s Bellevue Hill hilltop estate joined the already plentiful harbourfront offerings, including John Symond's $100 million plus Wingadal at Point Piper, the Fox trucking family's Elizabeth Bay Spanish Mission home, Boomerang and Elaine at Double Bay which the Fairfax family have been seeking to sell for the past three years.
The modernised Rona, a Victorian Rustic Gothic Revival style abode has been home for the past 12 years to the property developer Terry Agnew and his wife, Kyril. 
Rona remains listed through veteran agent, Bart Doff at Laing &amp; Simmons Double Bay inconjunction with Ben Collier whose is departing McGrath Estate Agents after 23 years.
<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/2016/12/23/Rona-2.jpg" alt="">
He has two days to add it to his personal annual sales tally which came in at $278 million in 2015, up from $216 million in 2014. McGrath's 700 agents sell $7 billion plus annually.
McGrah's Central Coast agent Mat Steinwede ranks as the group's top seller, with his recent sales including more than $7 million record secured by property developer Jason Gazal for a three-year long Pacific Street, Wamberal property listing.
Sydney's eastern suburbs star performer has been - as far as taking public credit - Alexander Phillips at the Phillips Pantzer Donnelley agency which looks set to narrowly fall short of a record $1 billion in sales this year. 
Phillips' personal tally has risen from $200 million in 2013 to $390 million last year.
<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/2016/12/23/Rona-3.jpg" alt="">
Altona was the big Sydney sale when the Point Piper harbourfront fetched $61 million plus in mid-November, with its selling agents yet to take credit.
The CoreLogic report, Best of the Best 2016 detailed Point Piper's median house price as $6.62 million. 
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Bellevue Hill's Rona remains for sale

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The retired champion footballer, turned Fox Sports commentator Braith Anasta stood on the sidelines when auction offerings were knocked down at big prices this year.
He missed out on several eastern suburb coastal Sydney apartments, but has finally managed to put his name on a signed contract.
It was a three bedroom <a href="https://www.realestate.com.au/sold/property-apartment-nsw-coogee-123612010" target="_blank">Coogee apartment</a> with Gordon Bay views.
The devoted father snapped it up within a few days of its recent private treaty listing. 
The Anasta clan were previously spotted missing out on the Bondi Beach garden apartment offering of the Greater Western Sydney AFL star Shane Mumford and fiancee Eva Konta which sold for $2,155,000.
<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/2016/12/23/Coogee-2.jpg" alt="">
Anasta had moved into his mother's now sold Malabar house after his separation from actor Jodi Gordon this time last year. Anasta had been looking too for his mother, Kim, too, since she sold earlier in year at Malabar through Jason Black from Black Lifestyle Property.
Braith and Kim turned up to the Tamarama auction of the Kiwi film director Dame Jane Campion mid-year when the 241 square metre investment property sold for $2.55 million through Bethwyn Richards of McGrath. 
They were the underbidders at $2,545,000.
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Fox Sports commentator Braith Anasta buys Coogee apartment

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The $300 million Australian Pub Fund run by John Singleton, Geoff Dixon and Mark Carnegie has sold three Sydney hotels.
The off-market sales totalled a combined $47 million.
The Feros family's JDA Hotels bought the Peakhurst Inn in Sydney's southern suburbs for $22.5 million in a deal negotiated by Andrew Jolliffe of Ray White Hotels.
The Bristol Arms on Sussex Street in Sydney and the Como Hotel in the Sutherland Shire were sold to the family-run Oscars Hotel Group for $19.5 million and $5.6 million respectively, in deals negotiated by JLL Hotels &amp; Hospitality Group's John Musca.
The prices offered for all three pubs were at cap rates below 8%, Geoff Dixon, the former CEO of Qantas told The Australian Financial Review.
APF will soon begin on-market campaigns to sell Newtown's Marlborough Hotel and Kinselas in Surry Hills, with expectations of about $60 million - more than double what they were acquired for by the fund.
Kinselas enjoys strong food and beverage patronage. It also has 30 gaming machines that contribute more than $3 million in annual revenue.
"Capital continues to find its way to the sector where a 400-500 basis point spread still exists between sustainable earnings and the cost of debt. This is an attractive proposition for not just experienced operators but increasingly syndicators as well," Musca said.
The Lone Pine Tavern in Rooty Hill was sold in December by the Feros family after being marketed with expectations above $30 million.
Also in December, Merivale boss Justin Hemmes paid $37.05 million for The Tennyson Hotel in Sydney's south.
<img src="https://www.urban.com.au/images/2016/12/02/Screen%20Shot%202016-12-02%20at%2011.54.15%20AM.png" alt="">
The Tennyson, whose design is illustrative of a Sidney Warden-designed inter-war functionalist structure, fetched a record hammer price for hotels. 
The Ray White Hotels Asia Pacific director Andrew Jolliffe listed the top 100 gaming property, The Tennyson Hotel at Mascot.
Set on Botany Rd, the Tennyson Hotel is a popular hotel with 30 gaming machines.
"Notwithstanding the latest ranking at 87 in NSW, the hotel requires an upgrade," Jolliffe advised. 
The leading hotel architect Paul Kelly has designed a renovation which has DA approval for the vendor John Feros of JDA Hotels.
<img src="https://www.urban.com.au/images/2016/12/02/Screen%20Shot%202016-12-02%20at%2011.53.59%20AM.png" alt="">
The hotel, even in its currently unrenovated state, attracts in excess of $8 million in annual receipts from predominantly high gross profit margin revenue centres.
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Kinselas next hotel to be sold by Singo's Australian Pub Fund

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The luxury cruise ship, The World of ResidenSea arrives in Sydney for New Year's Eve after its apartment dwellers have cruised round Australia from Broome.
With more Sydneysiders than ever now among the owners aboard, it will be the place to be seen over its four day stay.
The 12-deck, 196-metre vessel first set sail in 2002 and officially sold out four years later.
Matriarch Ros Packer is likely to be aboard in an apartment that was a gift several years ago from son, James. The double apartment then got a serious makeover.
Property developers Bob and Margaret Rose are owners. Ditto Bill and Imelda Roche, the developers of the Hunter Valley gardens estate, on the stern of The World.
Motivational speaker John Demartini outlaid $3 million on his glamorous cabin, a one-bedroom apartment.
It was bought with his late wife, Australian astrologer Athena Starwoman, after selling their Trump Tower apartment, unnerved after the September 11 terrorist attacks.
Demartini will be giving lectures in Sydney in early January.
The late engineer Bob Sparke, from Belvedere estate at Burradoo in the NSW Southern Highlands, enjoyed time onboard until his 2013 death.
<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/2016/12/23/RESIDENSEA-2.jpg" alt="">
Sparke's acquaintanceship with mining tycoon Gina Rinehart had blossomed and they regularly followed the sunsets from a ninth-floor apartment.
Rinehart, who of course can’t help working, has had government ministers aboard for dinner at its Chinese restaurant.
Richard Penn, the one-time Gutbuster entrepreneur, and his wife, Heather, are among the owners who can access the facilities that include two pools, a tennis court, virtual golf, gym, library, chapel, deli and even House of Graff jewellers.
There is a net worth threshold of at least a $10 million required to join The World.
At last count, the residents comprise around 130 families from 19 different countries with an average age around 64 years.
Initially The World was overrun by rowdy short-stay tourists invited aboard by the ship's financially challenged operator to help fill the many unsold apartments.
Paying guests are no longer taken.
I was aboard The World of ResidenSea the first time it sailed into Sydney Harbour in 2003, albeit on the rather quick Melbourne to Sydney voyage. 
The ship has since visited more than 900 ports. Its 2016 journey started in Antarctica, and the journey continues in early 2017, again to Antarctica.
By next November, the ship will be in Cuba then an end-of-year celebration in Miami.
This article was first published in The Sunday Telegraph.
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The World of ResidenSea arrives in Sydney for New Year's Eve

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The Federal Court has found that Peter Charles Drake, Francene Maree Mulder and Eghard van der Hoven did not breach their duties as directors of LM Investment Management Ltd (LMIM).
ASIC had alleged that Drake used his position to gain an advantage for himself and that each of the former directors of LMIM breached their director’s duties by failing to act with the proper degree of care and diligence regarding transactions involving the LM Managed Performance Fund (MPF), an unregistered managed investment scheme with about 4,500 investors.
The MPF loaned funds to Maddison Estate Pty Ltd, to complete a property development on the Gold Coast known as Maddison Estate. ASIC's case focused on a decision of the directors to extend the loan in 2012.
ASIC is reviewing the court's decision and deciding whether it wishes to appeal.
LMIM was the responsible entity for seven registered managed investment schemes as well as the trustee for MPF. More than $400 million was invested in MPF. In total, LMIM was responsible for managing at least $800 million on behalf of approximately 12,000 investors in Australia and overseas.
ASIC's claim against Simon Ticker and Lisa Darcy was dismissed by consent on 12 September 2016.
ASIC has taken other action and has been involved in other court proceedings arising out of the collapse of LMIM.
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ASIC loses Federal Court case against LM's Peter Drake on Maddison Estate

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A historic cable tram shed and workshop in North Melbourne that has been converted into a family home remains for sale.
There had been a scheduled pre-Christmas auction marketing campaign that did not yield a buyer.
It was bought three years ago for $3.35 million by car collector Chris Page because he wanted to grow his car collection.
He and his family moved from their Carlton home and renovated <a href="https://www.realestate.com.au/property-house-vic-north+melbourne-124078490" target="_blank">the historic 1918 building</a> which had previously sold in 1978 at $155,000.
It is a vast five bedroom home with a big garage downstairs as well as a street-facing mechanic business.
<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/2016/12/22/North%20Melbourne-2.jpg" alt="">
Page still hopes that another like-minded car enthusiast will secure the property which was also advertised as <a href="https://www.realcommercial.com.au/property-industrial+warehouse-vic-north+melbourne-502177718" target="_blank">a development site</a>.
The property first began as a cable tram shed in the 1920s before being converted into a tramways administration office and then finally into a Mediterranean grocer before being converted into the current home.
The reported pre-auction price indications were $5.5 million for the property that includes the mechanic business space.
The business owner would be happy to stay if the new owner wishes.
<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/2016/12/22/North%20Melbourne-3.jpg" alt="">
The property is offered through Jellis Craig agents John Morello and Simon Mason.
A neighbouring office building on a 500 square metre block at 16 Howard Street sold earlier this year at $4.4 million.
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No buyer yet for historic North Melbourne car paradise

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The Clovelly Hotel has been sold to Solotel, headed by the hospitality duo, Bruce Solomon and Matt Moran.
The sale of the hotel, marketed by Daniel Dragicevich from CBRE and Andrew Jolliffe of Ray White Hotels Australia, did not come with a formal price advisory.
Iris Capital acquired the hotel in 2008 for $22.5 million and extensively renovated it in 2012. 
The price has been speculated as in excess of $30 million following other Eastern Suburbs pubs, the Coogee Pavilion, Newport Arms and the Bondi Hotel, trading at $36 million, $46 million and $43 million respectively in recent years.
It attracted "considerable" interest from both domestic and overseas based groups.
Situated upon a commanding 1708 sqm beachside block with Pacific Ocean views, the legendary multi storey "Cloey", the agents suggested "the astute hospitality and business prowess of Solotel was the successful party; and, clearly, a most applicable suitor for the next chapter in the hotel's life."
"With the recent success of Justin Hemmes' nearby Coogee Pavilion, as well as Chris Cheung's Coogee Bay Hotel, Kim Maloney's Bondi Hotel and Arthur Laundy and Fraser Short's Watsons Bay Hotel, the opportunity to acquire this "once in a generation" hotel icon was simply too good for many to refuse.
Solotel are the owners of numerous hospitality businesses around Australia including Opera Bar, recently refurbished Aria restaurant at Sydney's Circular Quay and The Paddington Inn; as well as Double Bay's The Sheaf and Woollahra's Chiswick, leaving many industry observers salivating at the prospects of the future shape the business is likely to take.
Speaking on behalf of Solotel, Solomon says hey are thrilled to be taking over "such a well-loved pub that really is the full package- it has a brilliant location, ocean views and a great pub culture."
Clovelly Hotel owner Iris Capital, led by successful entrepreneur Sam Arnaout, rejected several other offers for the property, ensuring that Solotel became the successful party.
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Solotel buy the Clovelly Hotel from Iris Capital

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Lija and John Wilson, who helped established the online Indian dating website, Troozi, have sold their three bedroom South Yarra home.
<a href="https://kayburton.com.au/properties/view/424669-19-lara-street-south-yarra-3141-sale" target="_blank">The modernised 1890s Lara Street offering</a> came with a $1.95 million asking price after it was passed in at Kay &amp; Burton auction last month at $1.75 million. 
It last sold at $1,242,000 in 2012 when sold by Jim Gall, the co-founder of agribusiness marketing agency Redhanded Creative, and wife, Suzanne, a former publishing executive.
They had renovated in 2010 using the architecture studio MAKE and landscaper and horticulturalist Lachie Anderson.
Lija Wilson was working previously for Fairfax on RSVP.com.au.
This article first appeared in The Weekend Australian.
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Troozi co-founder sells South Yarra trophy home

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The 18-office Victorian estate agency Buxton has a new ownership group.
Buxton Corporate will now have seven directors.
The directors include Mark Earle, David Hart, Ben Riddle, Craig Williamson, Chris Hassall and Nathan Jones.
"We are also excited to announce that we have secured <a href="https://www.linkedin.com/in/nigel-o-neil-6a932813" target="_blank">Nigel O’Neil</a> who will join us as managing director," Mark Earle advised staff this week.
"Nigel has nearly a decade of experience leading and developing another real estate group and brings a wealth of knowledge to that role.
"The new leadership team is extremely excited about the future at Buxton and we look forward to sharing more in 2017."
O'Neil's appointment comes after his rapid exit from hockingstuart in February after 8 and a half years’ service.
"When these discussions commenced, the most important aspect for me was for Buxton to remain as Buxton," Earle added.
"Albeit the last few years have been very strong, we firmly believe our best days are ahead of us.
"Our aim is to make Buxton even more of an attraction brand for vendors, landlords and agents."
The first Buxton office was established by the company's founder John Robert Buxton in South Melbourne in 1861.
Buxton has offices across many key inner-suburban and bayside locations, including the Mornington Peninsula and Greater Geelong.
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Nigel O'Neil appointed to lead Buxton in directorship reshuffle

A mix of Gold Coast locals, fly-in, fly-out purchasers from Sydney and Melbourne, and Brisbane-based families has driven early sales success at Broadbeach's newest apartment tower, Lumara.

The 26-level project, a joint venture between builder-developer 5Point Projects and Bourke Projects, comprises just 37 luxury residences and is attracting a buyer profile that is looking for exclusivity, above the most amenity-rich suburb on the Gold Coast.

[smartcode_project:default project_id=150454 project_image_fid=364156]

Jamie Bourke, Director of Bourke Projects, says every buyer secured so far intends to use Lumara as a lock-up-and-leave residence, combining holiday use with the ability to work remotely when required.

“The size of the apartments, both half- and full-floor options, and the different zones within the floorplans, lends itself perfectly to dedicated home office setups and multi-generational family holidays,” Bourke says.

That flexibility has become a key drawcard for affluent buyers seeking a second residence on the Gold Coast without sacrificing the ability to conduct business away from their primary home base.

The absence of holiday letting within the building has also resonated strongly with purchasers.

“This type of buyer doesn't need to generate holiday rental income,” Bourke says. “They're paying for exclusivity, privacy and certainty around who their neighbours are.”

[smartcode_project:default project_id=150454 project_image_fid=366491]

The strong demand comes amid broader shifts in the high-end apartment market following the Federal Budget announcements in May.

“We were already seeing strong enquiry from high-net-worth buyers, but that has only accelerated since the policy changes,” Bourke says.

“A lot of those buyers are looking to place more capital into premium lifestyle assets rather than investment-grade stock that has been targeted by the Federal Government.”

[smartcode_project:default project_id=150454 project_image_fid=366486]

Designed by Cottee Parker, Lumara adopts a slender, sculpted form with an emphasis on natural materials suited to its beachfront setting. The architectural approach draws on coastal influences, with a palette of stone, timber and concrete selected for durability and the ability to weather over time.

Apartments are limited to three and four-bedroom configurations, with a maximum of two residences per floor through the mid-levels and a selection of full-floor and dual-level homes in the upper levels. All apartments are oriented to the north to maximise natural light, cross-ventilation and views across the ocean, city skyline and hinterland.

A two-level amenity offering is positioned high within the building on levels 20 and 21, conceived as a sky wellness retreat. Facilities include a magnesium pool, spa, sauna and steam rooms, alongside more social spaces such as a private dining room, resident lounge, workspaces and outdoor barbecue areas integrated with landscaped greenery.

The uppermost levels are reserved for larger-format residences, including several full-floor homes and a dual-level penthouse with its own private wellness features and recreational spaces.

&nbsp;

To give buyers confidence, 5Point and Bourke commenced construction ahead of the apartments launching to the market, a sure-fire way to prove they mean business, and the building will be delivered. They are targeting a 2028 completion date.

[smartcode_project_cta:default project_id=150454]

Joel Robinson

Locals, interstate holiday makers, drive early sales at Lumara, Broadbeach's newest luxury apartment tower

Often when it comes to purchasing property, the biggest barrier to entry is the deposit. Buyers of established homes typically aim for a 20 per cent deposit to avoid the added cost of Lenders Mortgage Insurance, while most property transactions require around a 10 per cent deposit when contracts are exchanged.

The off-the-plan market works differently, with buyers typically paying a deposit during construction and settling the balance upon completion. As completion approaches at <a href="https://www.apartments.com.au/new-apartments/fabbrica-fitzroy-369-gore-street-fitzroy-vic-3065">Fabbrica Fitzroy</a>, developer <a href="https://www.apartments.com.au/developers/pace-development-group">Pace</a> is making it easier for buyers to secure a residence through a deposit-matching incentive. Purchasers need only contribute a five per cent deposit*, with Pace matching the remaining five per cent.

The offer comes as Pace unveils a completed display apartment and townhouse, now available for inspection by appointment ahead of the project's Spring completion.

[smartcode_project:default project_id=139552 project_image_fid=371009]

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/winwood-mckenzie-architecture">Winwood Mckenzie</a> and landscaping by <a href="https://www.apartments.com.au/landscape-architect/acre">Acre</a>, Fabbrica draws on Fitzroy’s industrial and manufacturing history, incorporating references to the former Argyle Shirt Factory and Life Savers Confectionery Company that once occupied the site.

The development comprises 85 residences, spanning low-maintenance apartments through to larger-format townhouses with private street access and double lock-up garages, a relatively uncommon offering in Fitzroy’s higher-density apartment market.

Pace says the project has been designed to appeal to buyers seeking inner-city convenience without sacrificing space, flexibility, or amenity.

[smartcode_project:default project_id=139552 project_image_fid=371016]

Inside the residences, Winwood Mckenzie has focused on adaptable layouts and integrated detailing, with features including custom joinery, and concealed storage solutions. The material palette leans into warm, tactile finishes intended to complement the building’s industrial architectural language.

Fabbrica’s rooftop amenity is a key part of the project offering. Spanning around 800 sqm, the communal rooftop includes a private dining room, communal kitchen, lounge spaces, work-from-home zones, and outdoor dining areas overlooking the Melbourne CBD skyline.

[smartcode_project:default project_id=139552 project_image_fid=371017]

Landscape architecture studio Acre has introduced a layered rooftop garden designed to soften the urban setting while creating a more communal environment for residents.

The Fitzroy location also positions residents within walking distance of Brunswick Street, Smith Street, parks, cafés, galleries, and public transport, while remaining only minutes from Melbourne’s CBD. The project has an enviable Walk Score of 96.

[smartcode_project:default project_id=139552 project_image_fid=371025]

Pace, which is also delivering the project as builder, has developed more than 100 projects across Melbourne over the past three decades. The vertically integrated approach has become increasingly common among developers seeking greater control over construction delivery amid broader market pressures affecting the apartment sector.

The strikingly contemporary Gore Street development is now around 70 per cent complete, with purchasers expected to move into their new homes in Spring 2026. A limited number of residences remain available under the current deposit match offer.

*Conditions apply in relation to the deposit match offer.

[smartcode_project_cta:default project_id=139552]

Pace offers five per cent deposit match at Fabbrica Fitzroy ahead of Spring completion

Sydney developer Hyecorp's roots on the Lower North Shore stretch back three generations, and that deep understanding of the market continues to shape where and how it develops today.

From high-rise towers to boutique apartment projects, the family-run developer has built its reputation by focusing on a part of Sydney it knows intimately. Founded by Michael Abolakian in the early 1990s, Hyecorp is now led by his sons Stephen, Troy and Patrick.

Stephen Abolakian, joint managing director alongside Troy, has spent more than two decades in the business, overseeing development, planning, finance, marketing and sales.

Abolakian says the developer's disciplined focus on where it chooses to operate has been, and continues to be, one of Hyecorp's greatest strengths.

“We know the buyer profile exceptionally well,” Abolakian says.

“The demographics between places like Willoughby, Chatswood, St Leonards and Roseville are very similar. There are nuances between suburbs and projects, but culturally and from a buyer perspective, there’s a strong overlap.”

That buyer has historically been overwhelmingly owner-occupier driven.

Unlike many Sydney apartment developers that have traditionally relied heavily on investor demand, Hyecorp’s projects have typically attracted downsizers, upsizers, rightsizers and family owner-occupiers seeking long-term homes rather than short-term investments.

“Historically, investors have been a much smaller portion of our demand profile,” Abolakian says.

“We design for owner-occupiers. We don’t design for yield, we design for comfort, amenity, family living and long-term usability.”

That philosophy extends well beyond apartment layouts.

From landscaping and communal gardens to shared amenities and circulation spaces, Hyecorp’s developments are designed around how people actually live, something Abolakian believes has become increasingly important in Sydney’s apartment market.

“There was probably a period where having an approved project in market was enough,” he says.

“There wasn’t as much competition and if you built it, buyers would come. That’s no longer the case.”

“There’s more supply in the pipeline now, particularly with TOD precincts and low and mid-rise reforms opening up opportunities across Sydney. Buyers have more choice, so if you get the product wrong, they’ll simply go elsewhere.”

[smartcode_project:default project_id=110379 project_image_fid=311393]

The shift has forced developers to become more sophisticated in how they approach apartment design, particularly as owner-occupier expectations continue to rise.

For Hyecorp, that means thinking beyond who the buyer is today and designing for who they may become in five or 10 years' time.

“People buying now often aren’t moving in for several years,” Abolakian says.

“You might have a young couple buying today, but by the time they move in they may have children, older children, or changing lifestyle needs. You’ve got to think about how families evolve.”

That thinking also shapes Hyecorp’s approach to amenity, which positions wellness at the forefront.

[smartcode_project:default project_id=149594 project_image_fid=362634]

While resort-style facilities have become increasingly common marketing tools across Sydney apartment developments, Abolakian says the challenge is ensuring amenities are genuinely usable and appropriate for the scale of the project.

“If amenities are done right, they can materially improve the living experience,” he says, adding however that if you&nbsp;overdo it or get it wrong, you can end up with facilities nobody uses that simply create ongoing strata costs.”

That balance is something Hyecorp is aiming to strike with projects like Roseville Avenue, one of the group's upcoming Lower North Shore developments, which Abolakian describes as bringing a resort-style living experience into a metropolitan setting.

“It’s about creating something that feels special without being excessive,” he says.

“Good gardens, quality apartments, thoughtful amenity. Creating that resort feeling in a metro location.”

<img alt="Hyecorp" data-entity-type="file" data-entity-uuid="13c4c0f3-b1b7-44cf-9344-0b3d1d07797a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-02%20at%2012.14.57%E2%80%AFPM.png?VersionId=9OLWjyj2bYkDV35F78WJnyMSPfc2bJ2z" />

The focus on owner-occupier product comes as Sydney’s apartment market continues to navigate a difficult development environment.&nbsp;For Hyecorp, maintaining an in-house operating model across construction, sales, marketing and development management has become increasingly important in navigating that environment.

“We’ve always believed in keeping a lot of the process in-house,” Abolakian says.

“It creates efficiencies, but it also creates quality control. You can make faster decisions and ensure the end product stays aligned with the original vision.”

Despite the challenges, Abolakian believes demand for quality owner-occupier apartments across Sydney remains strong beneath the surface, particularly across established Lower North Shore suburbs where downsizers continue to seek new housing options close to existing communities.

“There are definitely people waiting,” he says.

“Once some of the broader uncertainty settles, whether that’s the global environment or some of the local economic noise, I think the right projects will perform very strongly.”

Hyecorp currently has three residential developments on the market across Sydney’s Lower North Shore.&nbsp;Audrey, St Leonards, positioned opposite Newlands Park, is nearing completion and preparing to welcome its first residents, with the project now almost sold out.

Hyecorp has also recently launched&nbsp;<a href="https://www.apartments.com.au/new-apartments/celine-chatswood-37-archer-street-chatswood-nsw-2067">Celine Chatswood</a>, an architectural tower, while continuing to deliver&nbsp;<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet Roseville</a>, a more boutique scale of development with just 34 apartments.

Why Hyecorp continues to back Sydney's Lower North Shore apartment market

South East Queensland’s apartment market is entering a new phase defined by rising prices, constrained affordability, and mounting pressure on the construction pipeline, according to RPM Group’s latest SEQ Apartments &amp; Townhomes Market Report.

The May 2026 report highlights a widening divide between what buyers can afford and what developers can viably deliver, with detached house prices continuing to push more buyers toward apartments across Brisbane, the Gold Coast, and the Sunshine Coast.

RPM says Brisbane’s median house price has reached around $1.5 million, accelerating the shift toward higher-density housing as buyers are increasingly priced out of the detached market.

[smartcode_project:default project_id=135094 project_image_fid=356540]

Median unit prices rose across all three major SEQ markets in the March quarter. Brisbane City recorded the strongest annual growth, with median unit prices climbing 21 per cent to $862,000, while the Gold Coast reached the highest overall median at $950,000, up 17 per cent year-on-year. The Sunshine Coast followed at $870,000, representing annual growth of nine per cent.

RPM noted the affordability gap between houses and units remains significant, with detached homes commanding premiums of 67 per cent in Brisbane and 68 per cent on the Gold Coast relative to apartments.

The report suggests this price disparity is increasingly consolidating buyer demand within the apartment market, particularly among downsizers and owner-occupiers.

“Demand is real. Supply is moving. But they’re operating on different timelines and the gap between what’s being built and what buyers can afford is the defining tension in this market right now,” RPM Queensland and NSW Managing Directors Peter Neale and Clinton Trezise said in the report.

[smartcode_project:default project_id=150787 project_image_fid=366230]

While approvals and commencements are strengthening, RPM argues the delivery pipeline remains constrained by construction costs, labour shortages, and extended build timelines.

Apartment approvals across Queensland increased 86 per cent over the year to February 2026, reaching 12,682 approvals, the highest level recorded since 2016. Brisbane overtook the Gold Coast as the state’s most active apartment approval market, with nearly 5,000 apartments approved over the past 12 months.

Unit commencements also strengthened considerably, rising 48 per cent year-on-year to 5,453 commencements in the December 2025 quarter, the highest level since 2018.

However, RPM’s research found apartment delivery timeframes have expanded sharply compared to the previous cycle. Projects are now averaging around 30 months from approval to completion, compared to roughly 20 months a decade ago.

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The number of units under construction has climbed to approximately 31,530 dwellings, nearing the previous 2016 peak, though projects are remaining in the pipeline for considerably longer.

Construction costs continue to weigh heavily on feasibility. RPM found the average apartment construction cost in Greater Brisbane reached $630,000 per dwelling in 2025, exceeding both Sydney and Melbourne. Coastal Queensland markets, including the Gold Coast and Sunshine Coast, were even higher at an average of $817,418 per apartment due to the prevalence of larger premium product.

The report also points to increasing pressure from Olympic-related infrastructure spending ahead of Brisbane 2032, with labour competition expected to intensify over the next several years.

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ANZ Associate Director of Property Daniel Gradwell said the underlying demand drivers across South East Queensland remain strong, supported by interstate migration, downsizers, and population growth.

“The challenge is bringing enough supply to market to meet that demand, and nothing on the horizon makes that straightforward,” Gradwell said.

RPM’s analysis found the affordability challenge is becoming more pronounced in the new apartment market itself, with only three per cent of surveyed new apartments priced below $1 million.

Instead, the market is increasingly concentrated in higher price brackets, with the most common new apartment price band across SEQ sitting between $1.5 million and $1.75 million. Around half of all new apartment stock surveyed is priced below $2 million.

The report suggests developers are not necessarily avoiding lower price points by choice, but because current construction economics make delivering affordable apartments increasingly difficult at scale.

Rental conditions also remain tight across the region. Median rents for one-bedroom apartments rose 12 per cent in Brisbane over the past year to $580 per week, while Gold Coast one-bedroom rents increased nine per cent to $630.

Despite rising rents, RPM noted bond lodgements have generally trended downward over the past five years, indicating more apartments are being absorbed by owner-occupiers rather than retained as investor-held rental stock.

Looking ahead, RPM expects projects targeting the mid-market owner-occupier segment between $1.25 million and $2 million to remain the most viable part of the market, while premium projects in highly constrained coastal or riverfront locations continue to attract demand.

“Construction costs are rewriting the feasibility rulebook across Greater Brisbane, and with little relief in sight, only projects in the right price band, right location, and with presales secured early will make it through,” the report concludes.

SEQ apartment demand outpacing affordable supply as construction timelines stretch: RPM

Camberwell Junction has long been the epicentre of amenity in Melbourne’s Boroondara region.

For nearly a century, it has drawn both locals and visitors, anchored by the Camberwell Sunday Market, which first operated in 1929 and quickly became a fixture of the suburb’s identity. Over time, the Junction evolved into one of Melbourne’s most established retail and lifestyle precincts, now comprising more than 400 stores and over 300 commercial businesses.

Despite that depth of amenity, one thing has remained notably limited: the supply of new apartments.

In a suburb defined by its heritage streetscapes and tightly held residential stock, new development opportunities have been scarce, particularly within the core of the Junction itself. That lack of supply has left a gap in the market for larger, design-led apartments suited to downsizers and owner-occupiers wanting to remain in the area.

Boutique developer Above Zero identified that gap when it secured a prime site on Burke Road, in the heart of Camberwell Junction.

[smartcode_project:default project_id=4896 project_image_fid=368543]

The site has a long planning history. Various proposals have been put forward over more than a decade, many of which were knocked back by the City of Boroondara, with initial applications dating back to 2015. Above Zero acquired the site in 2022 and returned with a revised scheme, refining both the building’s height and its ground-level interface to better align with Council expectations.

That process has culminated in approval for Camberwell House.

The Cera Stribley-designed development will deliver 57 residences on a 1,950 sqm site within the Camberwell Activity Centre, placing it directly within one of Melbourne’s most established retail and transport hubs.

It is expected to be one of the only new apartment developments to launch in the Junction in recent years, reinforcing the rarity of new supply in the precinct. Currently, there are just a handful of projects on the market in Camberwell, underscoring the significance of a development of this scale and positioning.

[smartcode_project:default project_id=4896 project_image_fid=368544]

Camberwell House has been conceived with a clear focus on larger-format apartments. The project will offer a mix of two-, three- and four-bedroom residences, alongside a limited number of penthouses, targeting owner-occupiers seeking scale rather than volume-driven product.

The building’s vertical presence will also set it apart.

Positioned on Burke Road, the development is set to become one of the taller buildings in its immediate context, allowing for elevated outlooks across Melbourne’s CBD skyline and toward the Dandenong Ranges. In a precinct characterised by lower-scale built form, that height provides a point of differentiation, particularly for buyers seeking outlook and natural light.

[smartcode_project:default project_id=4896 project_image_fid=368568]

Architecture has been led by Cera Stribley, with interiors by GOLDEN and landscape design by Florian Wild. The design approach centres on material consistency and restraint, with residences oriented to maximise light, ventilation and connection to outdoor spaces.

Full-height glazing and generous terraces form a key part of that strategy, allowing apartments to extend beyond their internal footprint and engage with the surrounding environment.

Beyond the private residences, a significant component of the project is its amenity offering.

Above Zero has positioned Camberwell House as a “complete living environment”, incorporating a full floor dedicated to resident facilities. At the centre of that is a wellness zone, including a 12.5-metre lap pool, spa, sauna and treatment spaces, alongside a gym and recovery-focused amenities.

This level of amenity is more commonly associated with inner-city developments, rather than established middle-ring suburbs like Camberwell.

[smartcode_project:default project_id=4896 project_image_fid=368588]

Additional shared spaces include a private library lounge, dining and entertaining areas, and an indoor golf simulator. A self-contained guest suite has also been incorporated, allowing residents to accommodate visiting family or friends without impacting their primary living space.

The inclusion of these facilities reflects a broader shift in buyer expectations.

As more downsizers look to transition from larger family homes into apartments, there is increasing demand for developments that offer not just a residence, but a lifestyle. That includes access to wellness, social and entertaining spaces within the building itself, reducing the reliance on external amenity while still maintaining proximity to established precincts.

Camberwell House is positioned to benefit from both.

Its location places it within immediate walking distance of Camberwell Junction’s retail and dining offering, as well as public transport connections, including tram and train services. That combination of internal amenity and external convenience is central to its appeal.

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Jellis Craig Projects Director Stephen Bowtell is handling sales for the project and says Camberwell House offers a rare entry point into one of Melbourne’s most tightly held markets.

“Buyers are recognising that Camberwell House offers something they simply haven’t seen before in Boroondara,”&nbsp;Bowtell&nbsp;says.

“It combines a level of resident amenity and service typically associated with Melbourne’s premium inner-city developments, while being positioned right in the heart of Camberwell Junction.

“The response to the concierge offering has been particularly strong. Buyers appreciate not only the convenience, but also the sense of security and peace of mind that comes from having a dedicated presence in the building every day.

“When you combine that with the wellness facilities, the exceptional arrival experience, and panoramic views across both the CBD skyline and the Dandenong Ranges, it creates a lifestyle proposition that is genuinely unique within the local market.”
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[smartcode_project_cta:default project_id=4896]

Jonathan Chancellor

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