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A class action by 2000 small MFS Octaviar unitholders against auditing and accounting firm KPMG has been settled out of court for a reported $20 million plus.
Unitholders in the Premium Income Fund, an offshoot of Gold Coast-based finance, property and tourism group MFS, also known as Octaviar, brought the case against KPMG.
KPMG was the managed investment scheme’s compliance plan auditor.
MFS collapsed in early 2008 owing about $3 billion.
MFS Ltd was a publicly listed company with interests in financial services, travel and leisure and child care businesses. MFSIM was an unlisted public company and wholly owned subsidiary of MFS Ltd (now in Liquidation).
MFSIM was the responsible entity for six unlisted managed investment schemes, including the PIF and the Maximum Yield Fund (‘MYF’).
In late 2009 ASIC commenced its own civil proceedings in the Supreme Court of Queensland against MFS Investment Management Ltd and four former officers and one manager of MFSIM. The proceedings relate to the use of $147.5 million in funds of the Premium Income Fund (PIF), for which MFSIM was the responsible entity at the relevant time.  In taking this action, ASIC stated it was addressing the core obligations of a responsible entity and its directors and officers to operate the fund with care and diligence, and in the best interest of the fund’s members.
From November 2013 to December 2013, the trial was part-heard before Justice Douglas with further trial hearings in April 2014 and May 2014 and further hearings scheduled for August 2014.
Earlier this month the Law360, New York website reported Octaviar Administration Pty Ltd won Chapter 15 recognition in a New York bankruptcy court, six months after the Second Circuit overturned an earlier order granting the relief. Over the objections of Drawbridge Special Opportunities Fund LP, a hedge fund managed by Fortress Investment Group LLC, U.S. Bankruptcy Judge Shelley C. Chapman found that Octaviar meets the provision of the Bankruptcy Code requiring debtors to prove that they have property or a place of business in the U.S.
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MFS Octaviar class action against accounting firm KPMG settled

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Billionaire property developer Bob Ell has relisted his Cremorne mansion building block.
Listed initially for $25 million, the property is spread over four titles which were bought for $16 million in 2008.
The first marketing campaign in <a href="/news/nsw/bob-ell-lists-cremorne-harbourfront-residential-mansion-mega-site">early 2013 targeted Chinese nationals</a> but agent Richard Simeon failed to secure any sale.
The north facing 4,397 square metre block with 2,739 square metre approved mansion on Middle Harbour, <a href="https://www.realestate.com.au/property-house-nsw-cremorne-117251787" target="_blank">has been listed through CBRE agents Colin Griffin and Justin Brown</a> for 18 July registration.
The Lodge Road offering comes with council-approved plans for a eight bedroom, eight bathroom home with a court, pools and parking for eight cars.
Ell and his wife, Bridget bought a $28 million Bellevue Hill home as their Sydney base.
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Bob Ell lists Cremorne harbourfront mansion development site

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Average house price growth will cool to around 2% to 3% year on year, according to the National Australia Bank’s head of retail banking, Gavin Slater.
“The fundamentals are as good as they get,” Mr Slater said in a Fairfax Media report on the current economic conditions.
Mr Slater said these rates would average 2 to 3% annual growth over the next few years which would increase the Reserve Bank of Australia’s capacity to keep interest rates at a record low.
"We don’t believe we have a housing bubble, but our outlook is that increasing house prices will be more modest than they have been in recent times," he said.
House price growth would be restrained by high levels of household debt and cost of living pressures, Mr Slater said.
“Cost of living pressures will also act as a natural hedge to house price inflation,” he said.
“It is well known that in Australia compared to other OECD [Organisation for Economic Co-operation and Development] countries, household debt as a percentage of gross disposable income is very high and we believe that will act as a natural constraint,” he said ahead of a presentation to the UBS Australian Financial Services Conference in Sydney.
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House price growth cooling ahead: NAB

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The Hong Kong-listed development company, Country Garden has emerged as one of the Chinese companies to have expressed interest in buying Harry Triguboff's Meriton.
Country Garden Australia chief executive Johnson Zhang said the group had held preliminary discussions with Mr Triguboff, the Australian reported today.
The reported Country Garden approach was to buy, at least, part of his $6.25 billion Meriton apartment empire.
“We have met him; we have had discussions with him over this. But it is only in the pre­liminary stage. We might be looking for someone else. We are not sure yet,’’ Mr Zhang told the News Ltd paper.
The Chinese property development company bought their first Australian development site in late 2013 at North Ryde. 
The Global Business Park, 63-71 Delhi Road, had approval for a four building commercial development but Jones Lang LaSalle sold the Goodman Group site with potential for the developing 830 apartments.
Country Garden is a property development company based in Guangdong Province, China, owned by Yang Guoqiang's family. It focuses on building high-end residential property.
Founded in 1992 and listed on the Hong Kong stock exchange since 2007, it is controlled by China’s richest heiress, Yang Huiyan.
Wanting to become a major developer in Australia for the long term, Mr Zhang told The Australian the group preferred suburban sites which could sustain large garden areas.
Their newly released Ryde Garden development (pictured above) is a trio of buildings each have its own rooftop garden.
Bates Smart Architects designed 830 apartments for Country Garden’s first Australian project, on a site 50 metres from North Ryde train station. 
<a href="https://www.cpmrealty.com.au/Buying/Search/Detail.aspx?id=3626&amp;wlid=5ad6e8b1-b411-435b-a832-4cc784d50cce" target="_blank">They are for sale through CPM Realty agent Sam Elbanna</a> and JLL with a 2017 completion date, subject to final council approval.
The off the plan begin on Saturday 28 June 2014, conducting the sales day at the Four Seasons Hotel in Sydney’s CBD.
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One, two and three bedroom apartments in buildings A and C - which are two of three proposed towers in the new Ryde Garden community, will be on sale.
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Ryde Garden debut for Country Garden Australia

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Peter Bond, the chief executive of gas company Linc Energy, withdrew the Redfern post office premises from its scheduled auction last night.
The Business Review Weekly rich lister <a href="/news/nsw/redfern-proving-magnetic-for-coal-executives">bought it in mid-2011</a> when <a href="/expert-insights/investing/linc-energys-peter-bond-lists-redfern-post-office-premises">the former post office commercial premises</a> at <a href="https://www.propertyobserver.com.au/new-south-wales/redfern-proving-magnetic-for-coal-execs/2011062250564" target="_blank">113-119 Redfern Street were sold by spruiker Max Markson</a> for $2,125,000.
The building, which has a clock tower and bell, last sold through agents Paul Ephron and Ben Forsyth. Markson had bought it from Sorin Dascalu &amp; Associates in 2006 for $1.9 million.
The former Redfern Post Office, in Redfern, NSW, was built in 1882. It has a two-storey Victorian Italianate building plus a dominant four-and-half-storey corner clock tower. The post office included a telegraph office, parlour, drawing room, three bedrooms, kitchen, a servant’s room, bathroom, scullery, washhouse, fuel shed and two stall stables.
In 1880, £3000 was provided for the erection of the Redfern post office, and then the Public Works added a clock tower for an estimated extra £700.
The building has 480 square metres of internal space on its 330-square-metre Redfern Street block. 
<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-redfern-nsw-2016/227755" target="_blank">It was listed</a> through McGrath agents James Dack and Chris Chung.
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No sale for Linc's Peter Bond Redfern post office offering

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Judit Korner, of the Madame Korner beauty empire, secured a worthy $7.2 million at auction last night for her long-held Double Bay home, having had hopes of more than $6.5 million.
She is the matriarch of the beauty empire, but not the first Madame Korner behind the skin care salons and beauty therapy colleges which have morphed into the online world.
<a href="https://www.rwdoublebay.com.au/1577937/" target="_blank">The spacious Bay Street Raffles</a>-<a href="https://www.rwdoublebay.com.au/1577937/" target="_blank">esque</a> property has been Korner's home since her 1969 marriage to the late George Korner, who had lived there since 1964 when it was bought for £22,000.
Mrs Korner (nee Botta) was a young Hungarian student beautician at the Madame Korner beauty school in Sydney when she met the company's founder, George.
He as was reportedly a dashing chemist almost 30 years her senior when they married with George aged 51 years.
They together built a beauty empire inspired by George's mother, Johanna Korner, a beautician in Budapest, then Paris, who helped him set up a salon in Sydney in 1951.
<a href="https://www.madamekorner.com.au/about/about-us" target="_blank">The </a><a href="https://www.madamekorner.com.au/about/about-us" target="_blank">family had been steeped in the beauty business since 1904</a>, fleeing Europe in 1943.
At its peak Madame Korner - the company credited with introducing European skincare, treatments and beauty regimes to Australian women - had numerous salons across Australia.
Michael Dunn and Robynne Arnouts, of <a href="https://www.rwdoublebay.com.au/1577937/" target="_blank">Richardson &amp; Wrench Double Bay secured the sale</a>. Auctioneer Peter Baldwin announced it on the market at $6.67 million, and Title Tattle spotted the three subsequent bidders..
The five-bedroom home sits on a level 765 square metres opposite Steyne Park with dual street access. 
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Madame Korner sells longtime Double Bay home

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The businessman Lloyd Williams is seeking permission to replace his low-rise corporate headquarters with a 304 apartment, 40-level apartment tower at 248-280 Sturt Street, near the corner of Kings Way.
The 120 metre residential tower will have silver reflective glazing to a Elenberg Fraser design.
With its building form consisting of two dominant floor plates connected by a transitional twist, the tower smacks of cutting edge quality, according to the blog, <a href="https://urbanmelbourne.info/planning/2014/05/20/i-spy-new-planning-applications" target="_blank">urbanmelbourne</a>.
Starryland Melbourne has recently secured permission for its 54 storey apartment block at 84-90 Queensbridge Street, Southbank. Its a 295 apartment Rothe Lowman-designed project.
Meanwhile the listed Malaysian conglomerate PJ Development Holdings has purchased a two-hectare Southbank, Melbourne city fringe car-park site for $145 million.
The 93-119 Kavanagh Street development site (pictured above) was sold by interests associated with the Banco Group directed by Mario LoGiudice.
There are expectations of a $1 billion project by the PJD group.
There has been speculation in Malaysia that there has been speculation that PJD may embark on a corporate exercise to raise funds or to be merged with OSK Property Holdings Bhd to form a bigger entity. 
Both property development outfits are controlled by veteran investment banker Tan Sri Ong Leong Huat who holds 26.8% and 70% stakes in the companies respectively.
The off-market transaction brokered by Knight Frank agent Paul Henley highlights the renewed interest in the precinct by developers.
The two hectare Southbank site occupies the block bound by Kavanagh, Power and Balston streets, the West Gate Freeway and the Citylink Operations Maintenance building.
It is capable of accommodating six residential skyscrapers, with Banco securing permission in 2001 for five mid-rise office buildings. 
Some $400 million of Southbank land sales have taken place in the past year, including a site abutting the West Gate Freeway off-ramp, sold for $7.5 million last week.
It was the 65 Haig Street site of just over 1000 square metres which had potential for a 33 level high-rise.
Longtime Southbank developer Central Equity acquired the 54 Kavanagh Street site for $27 million in May.
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Lloyd Williams joins the latest apartment development push at Southbank

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The recently floated Arena REIT sold 10 Victorian and NSW childcare centres at Burgess Rawson auction today for a combined $14.2 million reflecting an average 6.9% net yield.
Given 16% projected growth in number of children 0-4 years from 2013-2025, yields were as low as 5.4% at <a href="https://melbourne.burgessrawson.com.au/buying/VIC/East/Templestowe/Retail/3P0820" target="_blank" style="line-height: 1.3em;">Templestowe in Melbourne</a> (pictured above) with a $1.73 million sale. The lease was 15 years to Imagine Applied Education Services Inc with two further terms of five years, each with a five year notice period. There are annual CPI reviews with a 2.5% minimum increase, with the next market review date in 2019, when the rent cannot be reduced as a result of market review and is uncapped.
The tenant is responsible for rates, insurance and repairs and maintenance (including structural), management fees and land tax (where applicable). 
The income was $93,102 per annum.
A 9.2% Tamworth childcare centre on a short term lease sold for $620,000.
Six sales came with leases to Australia’s biggest childcare operator, Goodstart. Goodstart is owned by the charitable organisations The Benevolent Society, Mission Australia, the Brotherhood of St Laurence and Social Ventures Australia.
Arena reported earlier this year that it controlled a $325 million portfolio of childcare and healthcare properties with 177 childcare properties.
Morgan Stanley analysts recently advised there were strong fundamentals in the childcare and healthcare sectors, the Australian Financial Review noted.
The listed property trust sector (A-REITs) gained a new participant with Arena floating with a share price of $1.05 in June 2013, representing a premium to its then net tangible assets of $1 per share.
The joint managing directors of the Melbourne-based fund are James Goodwin and Bryce Mitchelson. It was established as an unlisted trust in 2003 investing into childcare centres. 
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Average 6.9% yields as Arena REIT childcare centres sell

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Leighton Holdings Limited has sought expression of interests in their 50.6% investment in Devine. 
The process is preliminary and there are no assurances that a sale of the Leighton investment in Devine will be finalised, the ASX has been notified today.
Leighton Holdings is also seeking a quick sale of its $1 billion-plus John Holland and Services businesses.
The company’s stake in listed firm Macmahon Holdings scheduled for likely sale.
John Holland’s aircraft maintenance business is already for sale.
Leighton also owns 45% of the Middle Eastern construction company, Al Habtoor which is being readied for a possible IPO in 2016.
It's all part of Spain’s ACS restructure of the iconic Australian construction company.
Devine shareholders will <a href="/expert-insights/investing/dismal-devine-limited-attacked-by-shareholder-for-missing-the-housing-boom">await the sale process with interest</a>.
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Leighton looks for Devine stake buyer

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Earlier today Scentre Group, Westfield‘s new Australian and New Zealand shopping mall company, started trading on the ASX, with a $3.21 million debut price Wednesday June 25.
Shares were later trading at $3.11 under the ticker SCG.
Opening at $6.70, Westfield Corporation, which will be the international iconic malls company of the Lowy family, was later trading at around $6.78 under the ticker WFD.
The two new groups are trading on a deferred settlement basis set to commence normal trading on Thursday week.
Scentre Group closed at $3.08 on Wednesday. Westfield Corporation closed trading at $7.05.
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Westfield and Scentre Group start trading anew

Kew has long been regarded as one of Melbourne's premier residential suburbs. It's a location defined by its grand period homes, leafy streets and some of the city's most prestigious schools, yet it has often sat just outside the spotlight cast on neighbouring Hawthorn and Camberwell.

Increasingly, however, buyers are recognising that Kew offers much of what draws people to those suburbs, with a quieter residential setting, exceptional amenity and long-term owner-occupier appeal.

Within a few minutes' walk, residents can access Kew Junction, one of Melbourne's most established village centres. Cafés, bakeries, restaurants, supermarkets, boutique retailers and everyday services are all on the doorstep, with local favourites including Centonove, Adeney Milk Bar Cafe, and Frank &amp; Harri creating the type of walkable lifestyle that has become increasingly difficult to find in Melbourne's inner east. Beyond the immediate neighbourhood, Glenferrie Road's renowned shopping and dining precinct in Hawthorn and the retail, dining and entertainment offerings of Camberwell Junction are both just a short drive or tram ride away.

The suburb is equally well connected. Tram routes 48 and 109 provide direct access to the CBD, while High Street and Cotham Road connect residents to the wider inner east.&nbsp;Nearby access to the Eastern Freeway also places the Yarra Valley, Mornington Peninsula and Melbourne Airport within easy reach, adding another layer of convenience for weekend travel.&nbsp;It's a rare combination of connectivity and tranquillity, where quiet residential streets sit just moments from some of Melbourne's most established shopping and lifestyle precincts.

For families, Kew remains one of Melbourne's most tightly held addresses. Carey Baptist Grammar School, Xavier College, Methodist Ladies' College, Trinity Grammar, Ruyton Girls' School and Genazzano FCJ College are all nearby, while the Yarra River parklands, walking trails and sporting clubs provide another layer of lifestyle appeal.

It's within this established pocket that developer Ricdanic is delivering <a href="https://www.apartments.com.au/new-apartments/wimba-ave-kew-9-11-wimba-avenue-kew-vic-3101">Wimba Ave</a>, a boutique collection of just 13 residences across two buildings named after its location on the tree-lined Wimba Avenue,&nbsp;within one of Kew's most prestigious pockets where homes have been known to sell up to and above $8 million.

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The residences prioritise the space that buyers are increasingly searching for but struggling to find in established suburbs. Living areas extend beyond five metres in width, ceiling heights range from three to five metres, and apartments open onto private gardens averaging around 125 sqm. Selected residences also feature balconies of approximately 60 sqm, while premium inclusions include Miele appliances, double-glazed windows, EV readiness, fully electric systems and a 7.2 NatHERS energy rating.

Architect Chris Idle says opportunities to deliver homes of this scale within established suburbs have become increasingly uncommon.

"There are very few opportunities to do these kinds of developments in leafy, established suburbs," he says. "To get this level of amenity, natural light, and architectural freedom in such a setting is extremely rare."

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The architecture draws on Kew's established character through the use of handmade Krause bricks, while landscaping by John Patrick introduces 23 plant species, including nine native varieties, creating an environment which focuses just as much on nature as it does the building.

Construction on Wimba Ave is well underway by renowned high-end builder Sinjen, with completion expected in late 2027. Prices start from $2.22 million.

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Joel Robinson

The enduring appeal of Kew's tree-lined streets and village lifestyle

"For me, it's the location." That was the first thing Chris pointed to when reflecting on why he and his wife Marita decided to purchase at Candela Ivanhoe, the under-construction new apartment development by Salter Brothers in the heart of the north-eastern M​elb​ourne​ suburb. ​

"We've lived here before… everything is here," Chris said.

"Our doctor is around the corner, there's dentists, pilates, everything we need, restaurants, fast food places, two train stations, Ivanhoe and Darebin, both in walking distance. You don't need anything else."

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Just 10 kilometres from Melbo​urn​e's CBD, Ivanhoe combines direct city connectivity with the amenity of an established village community. Residents have access to highly regarded schools, expansive parklands, public transport, and a thriving retail and hospitality precinct centred around Upper Heidelberg Road, all within a neighbourhood that has retained its leafy character despite its proximity to the city.

<a href="https://www.apartments.com.au/new-apartments/candela-ivanhoe-40-upper-heidelberg-road-ivanhoe-vic-3079">Candela Ivanhoe</a> sits within the heart of this established landscape, positioned just moments from Ivanhoe Village and within walking distance of many of the suburb's most sought-after amenities.

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From Candela, residents can access cafés, grocers, wine bars, restaurants and essential services on foot, while Ivanhoe Station and Darebin Station provide direct connectivity across Mel​bour​ne. The development is also surrounded by some of the suburb's best-known lifestyle destinations, including Pinkie, Laurent, Enni, Docasa and Woodfire Pizza e Cucina, alongside Ivanhoe Plaza, Woolworths, pharmacies and specialty retailers.

Green space is another defining feature of the suburb. Darebin Parklands, Ivanhoe Park, Nellie Ibbot Park and the Yarra River trail network provide extensive opportunities for recreation, while Ivanhoe Golf Course and Ivanhoe Tennis Club continue to underpin the area's long-established lifestyle appeal.

The suburb's education offering further strengthens demand. Ivanhoe Grammar School, Ivanhoe Girls' Grammar School, Mary Immaculate Primary School and Ivanhoe Primary School have helped establish the area as one of Melbou​​rne's most sought-after schooling precincts, attracting families and downsizers alike who want to remain connected to the area.

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While location was the priority for Marita and Chris, the project itself also needed to meet their expectations.

"Whilst location was paramount, I was also looking at design of the environment and Candela ticked every box," Marita said.

"We're just thrilled with our choice."

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Developed by <a href="https://www.apartments.com.au/developers/salter-brothers">Salter Brothers</a>, Candela Ivanhoe has been designed to complement its village setting, with an emphasis on generous floorplans, natural light and practical everyday living.

Residents will have access to a range of shared amenities, including a communal rooftop garden and dedicated residential lounge, complemented by a ground-floor café and lifestyle wellbeing centre, helping foster the sense of community already emerging among future owners.

That approach has resonated strongly with the market. More than 90 per cent of purchasers at Candela Ivanhoe are owner-occupiers, with buyers ranging from downsizers and second-home buyers to young families and first home buyers, creating a genuinely multi-generational community of grandparents, parents and children. It reflects a broader shift across Melbo​​urne's apartment market, where buyers are increasingly prioritising neighbourhood quality, lifestyle amenity and long-term liveability.

Currently under construction by Ironside, Candela Ivanhoe comprises 58 apartments. Candela Ivanhoe is scheduled for completion in the coming months, and residents can move in from September. One to four bedroom residences, prices from $649,000 and limited opportunities remaining.

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Location and lifestyle drive demand at Candela Ivanhoe

As apartment buyers increasingly look beyond the four walls of their residence, the quality and depth of shared amenity has become a defining factor in how developments are designed and experienced, particularly in the high-rise, new apartment development space.

In Southbank, where high-density living continues to evolve, developers are placing greater emphasis on creating environments that support wellbeing, connection, and convenience as part of everyday life.

That approach sits at the heart of <a href="https://www.apartments.com.au/new-apartments/aura-at-melbourne-square-7-hoff-boulevard-southbank-vic-3006">AURA</a>, the latest residential tower in <a href="https://www.apartments.com.au/developers/osk-property">OSK Property</a>’s $3.5 billion Melbourne Square precinct. Rising 67 storeys above Hoff Boulevard, the 673-apartment development has been conceived around what OSK describes as a “vertical wellness ecosystem”, a layered collection of amenities that extends throughout the building rather than being confined to a single podium level.

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The amenity offering begins on the seventh level within the AURA Club, a dedicated resident hub focused on health, relaxation, and daily convenience. Here, residents will have access to an indoor swimming pool, cold plunge, spa, sauna, and steam room, alongside a fully equipped gym, reformer Pilates studio, and yoga room.

The wellness facilities are complemented by a range of spaces that acknowledge the changing ways people live and work. Work-from-home lounges and co-working areas sit alongside a library, music room, games room, cinema facilities, and open-air terrace spaces, providing residents with flexible environments that can adapt throughout the day.

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Beyond the internal amenity, AURA introduces a series of Japanese-inspired gardens that form a quieter counterpoint to the tower’s social spaces.

Landscaped retreats feature curated outdoor dining, tranquil courtyard seating, fire pit, and a tea house pavilion. Rather than functioning as simple recreational areas, the gardens have been designed as places for reflection and informal gathering, drawing on principles of balance, nature, and calm that underpin the project's broader design philosophy.

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The social amenity continues to evolve as residents move higher through the building. Levels 49 and 50 house the Meridian Club, where a lounge bar, conservatory spaces, and private dining rooms take advantage of elevated city views. At the summit of the tower, the exclusive Cumulus Club spans Levels 66 and 67, offering additional lounges, private dining, and meditation and treatment rooms positioned above Melbourne’s skyline.

For OSK Property, the extensive amenity offering reflects a broader focus on wellbeing as a core component of apartment living rather than an added feature.

“Aura stands tall as an exemplar of holistic wellness – its focus on social, physical and mental health culminate in a building that is calming, restorative and relaxing, where residents will have their own sanctuary within the well-connected and sought-after Southbank,” says OSK Property CEO Chong Boon Woon.

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AURA’s amenity strategy extends beyond the tower itself through its integration with the wider Melbourne Square precinct.

Residents will have direct access to Kennedy Park, Southbank’s 3,745 sqm landscaped public park, alongside a full-line Woolworths supermarket, childcare centre, hospitality venues, and approximately 1,600 sqm of additional retail planned within AURA’s lower levels. Together, these elements create a highly connected residential environment where daily needs, recreation, and wellness are woven into the fabric of the community.

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As Melbourne’s apartment market continues to mature, developments are increasingly judged by the lifestyle they provide beyond individual residences.

Through its combination of wellness facilities, landscaped retreats, social clubs, and precinct-wide amenity, AURA represents a shift toward a more comprehensive model of vertical living, one where shared spaces play as significant a role as the homes themselves.

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AURA elevates amenity living at Melbourne Square

Builder-developer Scion is the latest to target Sydney's booming Hills Showground Metro precinct, filing plans for more than 100 apartments within walking distance of the station.

Scion has lodged a concurrent rezoning and State Significant Development Application for <a href="https://www.apartments.com.au/new-apartments/27-33-middleton-avenue-castle-hill-nsw-2154">27–33 Middleton Avenue</a>, where it plans to replace four existing homes with an 11 and 14-storey mixed-use development comprising 109 apartments, six affordable housing dwellings, and a ground-floor café.

Designed by BHK Architects, the proposal includes three levels of basement parking with 174 spaces, more than 1,200 sqm of communal open space, and extensive landscaping across the 3,791 sqm site.

The development has been designed as two buildings connected by a recessed wintergarden spine, with the 14-storey building positioned to the south and the 11-storey building to the north.

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The apartment mix has been weighted towards owner-occupiers, with 13 one-bedroom apartments, 55 two-bedroom residences, 31 three-bedroom apartments, six three-bedroom lofts, and four four-bedroom homes. Six apartments will be dedicated as affordable housing in line with the NSW Housing SEPP.

According to the Architectural Design Report by BKH, the proposal seeks to create "a place-responsive architecture" inspired by the natural landscape surrounding Cattai Creek, while strengthening the public domain through landscaping, active frontages and a neighbourhood café.

Atlas Urban, in its Urban Design Report, says the proposal takes a different approach to increasing density around Hills Showground Station by favouring a more slender, vertically articulated built form over a conventional mid-rise outcome. The report argues this allows for greater deep soil planting, improved solar access and a better public domain outcome, while still delivering additional housing close to rapid public transport.

The site sits around 500 metres from Hills Showground Metro Station, within a precinct earmarked for significant residential intensification following the opening of the Sydney Metro Northwest line. Planning documents accompanying the application note that Greater Sydney's population has grown by more than one million people since planning for the precinct first began, reinforcing the need to accelerate housing delivery around existing transport infrastructure.

Scion is expanding its development pipeline which also includes <a href="https://www.apartments.com.au/new-apartments/chatham-west-ryde-2-6-chatham-road-west-ryde-nsw-2114">Chatham in West Ryde</a>, 62 apartments which are approaching completion. They also have a State Significant Development Application with the NSW Government's Housing Delivery Authority for <a href="https://www.apartments.com.au/new-apartments/96-anzac-avenue-west-ryde-nsw-2114">145 apartments on Anzac Avenue</a>, also in West Ryde.

First look: Scion plots Castle Hill apartment development near Hills Showground Metro Station

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>&nbsp;has unveiled its scaled-back plans for a pair of towers rising up to 49 storeys directly opposite Bella Vista Metro Station.

The builder-developer will deliver 674 apartments and a new mixed-use hub at the gateway to the station precinct.

The State Significant Development Application has been lodged under the Housing Delivery Authority pathway for the 6,979 sqm site at <a href="https://www.apartments.com.au/new-apartments/9-11-mawson-avenue-bella-vista-nsw-2153">9-11 Mawson Avenue</a>, with the apartments sitting above a mixed-use podium. Initial plans were for closer to 900 apartments across two 40-storey towers.

Located around 30 metres from the Bella Vista Metro Station entrance, the development is intended to act as a catalyst for the long-planned Bella Vista Station Precinct, transforming a vacant site into a transit-oriented residential and commercial destination.

Planning documents describe the project as delivering "a high-density mixed use destination that combines housing, retail and community-serving uses in a highly accessible setting."

<img alt="First look: Urban Property Group plans 674-apartment Bella Vista towers opposite Metro station" data-entity-type="file" data-entity-uuid="21c08216-589e-490d-ad08-2d88b6fa62d9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bella%20vista%20podium.png?VersionId=3TnwjjQCNwTsmyQRaWnFrLTSAF0CJeka" />

Designed by <a href="https://www.apartments.com.au/architects/turner-studio">Turner</a>, with landscape architecture by <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>, the project comprises 674 apartments, including 102 affordable housing dwellings representing 15 per cent of the residential floor space. The housing mix spans studios, one, two and three-bedroom apartments, alongside a collection of townhouse-style residences integrated into the podium levels. The development also includes specialist disability accommodation and an elevated provision of adaptable and liveable housing.

The mixed-use podium has been designed to create an active urban centre around the Metro station, incorporating a 1,423 sqm supermarket, a 3,029 sqm gym, specialty retail spaces, a 100-place childcare centre and a publicly accessible "city room" community space. A secondary laneway, active frontages and landscaped public areas are intended to improve pedestrian connectivity through the site and strengthen links between the station precinct and surrounding neighbourhood.

In the project's design report, Turner said the proposal responds to Bella Vista's emerging role as a higher-density centre within Sydney's north-west growth corridor.

"The project transforms a strategically located site into a high-density mixed use destination that combines housing, retail and community-serving uses in a highly accessible setting," the report states.

"Active frontages, a publicly accessible city room, a secondary laneway and a mix of uses including a local supermarket, child care centre and gym create a more complete and socially useful urban environment for residents, workers and the wider community."

<img alt="First look: Urban Property Group plans 674-apartment Bella Vista towers opposite Metro station" data-entity-type="file" data-entity-uuid="0fde6220-82de-4f6a-9b63-d0fd8157acc9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bella%20vista%20da.png?VersionId=7hEmuSutH8plTd_RqqdmPu055F6qe554" />

Urban Property Group has been one of the busiest developers across Greater Sydney this year.

The developer is progressing around 1,000 apartments across <a href="https://www.apartments.com.au/news/nsw/first-look-urban-property-group-plans-next-major-wollongong-tower">two projects in Wollongong</a>, with several thousand more homes in the pipeline across Newcastle, Castle Hill, Little Bay and Penrith.

Jonathan Chancellor

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