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Coal mining executive Peter Bond has snappily sold the Watsons Bay harbourfront semis he only bought a year ago for $4.25 million.
The chief executive of Linc Energy bought the adjoining two-bedroom properties with approved plans for one residence from thoroughbred horse breeder Jocelyn May.
But <a href="https://www.mcgrath.com.au/buy/house-watsons-bay-nsw-2030/227280/?searchID=40143361" target="_blank">James Dack of McGrath Estate Agents sold them</a> well ahead of the scheduled 21 June auction where Bond had reported hopes of recouping his purchase price.
No sale price has been given, but prospective buyers were being told they'd need to better $4.7 million.
Title Tattle recalls the pair of semi-detached cottages failed to sell at 2012 auction when listed with $6 million price hopes. 
Owned by the May family for more than 50 years, the properties have DA approval to combine them into one house with a main bedroom suite upstairs.
The properties are on the beachfront strip fronting a boardwalk near the landmark Doyles restaurant.
In 2007, Jocelyn May sold another pair of semi-detached cottages on Marine Parade for $6 million to developer Graham Werry.
Peter Bond has also listed<a href="/expert-insights/investing/linc-energys-peter-bond-lists-redfern-post-office-premises"> the Redfern Post Office office premises</a>.
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jchancellor-FAypfDUnLy

Linc's Peter Bond sells beachfront Watsons Bay semis in quick flip

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A modernist house designed by architect Peter Hirst at Pymble on Sydney's upper north shore has finally been sold.
<a href="https://www.realestate.com.au/property-house-nsw-pymble-116529043" target="_blank">No price indication</a>, but it was listed with reduced $2.95 million plus hopes several months after having a $3.25 million asking price after failing to sell at its early-2013 auction.
The Peter Hirst-designed house, built in 1969 for the Blunt family, sold through the<a href="https://www.domain.com.au/property/for-sale/house/nsw/pymble/?adid=2011083969&amp;autoplayvideo=1" target="_blank" style="line-height: 1.3em;"> </a>Modern House agency.
"Gere and Anne Blunt commissioned the architect Peter Hirst to design a house in Pymble located next to PLC on a battleaxe block that affords extreme privacy," their marketing advised.
It is the home of George Pethard, owner of steel-manufacturing business Nevco Engineering, and his wife, Karen, who bought the property for $2.8 million in 2007 from the Heath family.
Set a 2,384 square metre block with a heated swimming pool, level lawns and established gardens, the Pymble Avenue property was renovated in 2006.
The renovation was undertaken by the lawyer Derek Heath and his wife, Elizabeth, by Lesiuk Architects. 
<a href="https://www.modernhouse.co/wp-content/uploads/2014/02/Floor+Site-Plan_31-Pymble-Av_BLUNT-HOUSE_vf.pdf" target="_blank">The five bedroom, two bathroom house</a> comes with a Carrara marble kitchen, plus large formal and informal living areas that flow onto the garden.
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Peter Hirst-designed modernist Blunt House, Pymble finally sells

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The proportion of loss making real estate re-sales has peaked, according to the latest RP Data report covering 64,518 residential property resales nationally over the first quarter of 2014. <div class="layoutArea">
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Nationally 9.8% of all homes which sold over the three months to March 2013 incurred a gross loss, just a tweak above the 9.7% in the December 2013 quarter.
It compared with a recent peak of 13.1% of re-sales over the three months ending January 2013.
With around 6.5% of all capital city re-sales recording a gross loss, capital city have had a lower proportion of loss making re-sales than the national average since early 2009.
The report coincides with record lows for subprime RMBS housing loans, as measured by Standard &amp; Poor's Performance Index (SPIN).
<img src="/images/2014/06/16/pain-june-16-one.gif" alt="">
Source: RP Data
The lowest proportion of loss making re-sales were in Sydney at around 3%.
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Over the three months ending March 2014, 6.5% of all capital city re-sales recorded a gross loss compared to 16.0% of sales at a loss across the combined regional areas. Loss-making re-sales are down from 9.4% a year ago across capital cities and down from 18.2% in regional markets. 
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Huge loss making re-sales are being recorded within the regional Queensland marketplace and in Tasmania.
Queensland’s Wide Bay region has recorded the largest proportion of loss making resales, with 30.6% of all March 2014 quarter re-sales transacting at a price lower than what the home was purchased.
The weakness in these two regions is mostly reflective of the conditions across the lifestyle markets where the correction in home values has been more significant, Tim Lawless at RP Data has previously advised.
Of those homes sold at a loss across Australia, those held for a short period of time have been more susceptible to loss despite home values having risen over the past year.
<img src="/images/2014/06/16/pain-june-16-two.gif" alt="">
Source: RP Data
Around 12% of owners who purchased and sold in the same year, sold at a gross loss, the RP Data Pain/Gain report noted.
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"Keep in mind that the actual number of homes re-sold in less than a year is very small," Tim Lawless noted earlier this year.
But a greater proportion of loss making sales has occurred across those homes re-sold after three to five years (19.4%). 
"If an owner wishes to double their initial outlay upon re-sale they generally need to hold the home for at least a decade," Tim Lawless advised earlier this year.
The December quarter report showed 55.1% of homes re-sold between 10 and 15 years after purchase sold for double the purchase price and 95.1% of resales after 15 years were for more than double the initial purchase price.
The gross value of losses on homes re-sold over the March quarter was recorded at $381.1 million and the average gross loss per loss making transaction was $60,544.
Some 90.2% of all re-sales over the March quarter of 2013 transacted at a gross profit, with 30.6% of all re-sales at least doubling their money compared with their original purchase price.
The gross profit on these re-sales was $12.2 billion and the average gross profit per profit making transaction was $225,088.
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Sydney at record low loss takers, with Queensland's Wide Bay the worst: RP Data

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Concerns about building approval lapses in the Mackay region has prompted the Queensland Housing and Public Works Minister Tim Mander to review certification requirements in high wind areas.
A compliance audit by the Queensland Building and Construction Commission inspected 112 properties and identified 11 which failed to meet acceptable framing requirements.
“Those results are unacceptable which is why we need to take a close look at the certification system as a whole,” Tim Mander said.
There are currently approximately 409 licensed building certifiers in Queensland, which represents about one third the number of certifiers registered within the states of New South Wales (1,298 certifiers) and Victoria (1,206 certifiers).
Due to the lower numbers, it has been suggested that Queensland’s certifiers are on average subjected to higher workloads than those practising within New South Wales and Victoria. The lower numbers have raised concerns about the capacity of Queensland certifiers to adequately undertake their legislative responsibilities, such as on-site inspections. 
Mander said the review would examine probity, conflicts of interest, quality and accountability for private certifiers to ensure the certification system was responsive to the needs of consumers and the industry.
“As well as looking at certification the review will examine potential improvements to the Building Act that will further cut costs and reduce delays,” he said.
The review will be led by construction-law barrister and licensed builder Andrew Wallace.
<a href="https://www.hpw.qld.gov.au/SiteCollectionDocuments/ReviewOfTheBuildingAct1975AndBuildingCertificationInQueenslandDiscussionPaper.pdf" target="_blank" style="line-height: 1.3em;">A discussion paper is available</a> with comments being sought until 25 July, 2014.
About 40% of the complaints about private certifiers received by the Commission relate to building development approvals being given without the prerequisite planning approval or in ways that are inconsistent with planning scheme provisions. 
There are approximately 409 building certifiers currently licensed in Queensland. Of these, around 347 are private certifiers. Australian Bureau of Statistics data suggests there were up to 108,877 building approvals issued last year in Queensland. The majority of these approvals are believed to have been issued by private certifiers as most local governments have withdrawn from providing in-house certification services. 
Private certification has reduced the income of local governments. 
The Commission currently receives 56 complaints about private certifiers per year (40% of total complaints received) related to planning matters, mostly from local governments. The matters are usually related to a certifier allegedly misinterpreting a local government planning scheme.
The discussion papers noted a perceived flaw with the system of private certification as the potential for conflicts of interest.
"As private certifiers perform a regulatory role, they must act in the public interest.
"However private certifiers usually have ongoing commercial relationships with individual builders who engage them to provide certification services.
"A potential conflict of interest may arise where a certifier may be tempted to enforce the building standards less strictly in order to preserve that commercial relationship."
Despite the potential for some improvements, there appear to be comparatively few complaints about certifier conduct in Queensland.
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While there were up to 108,877 building approvals issued last year in Queensland, the Queensland Building and Construction Commission receives on average 140 complaints per year about building certifiers. 
Of the total average complaints received, only 35% (or 49 per year) resulted in a negative decision and disciplinary action being taken against the certifier. This broadly equates to one complaint per 2,222 approvals per year.
The building legislation provides that buildings must be inspected throughout construction at the stages generally stated within the building development approval. It is usually the building certifier who decides what inspections will be required for any given project.
However, for detached houses, sheds, carports (class 1a and 10 buildings and structures) the building legislation prescribes minimum inspections to be conducted at certain stages. These mandatory, or “critical” inspections must be conducted at footing, slab, frame, and final stage. There is also a mandatory inspection for temporary fence stage inspections (swimming pools only).
Inspection guidelines assist certifiers to fulfil their legislative obligations regarding the critical inspections.
"Despite the existing inspection regime, the Commission encounters recurring building defects relating to wet area waterproofing, waterproofing of exterior decks and balconies and fire-separating wall construction. With the recurring nature of these defects, consideration may be given to increasing the number of mandatory inspections," the discussion paper noted.
The Building Act 1975 was introduced in Queensland in 1975 and prescribed, for the first time, standard building by-laws for all building work in Queensland. It commenced on 1 April, 1976.
The Building Code of Australia (now known as the National Construction Code) was introduced in the early 1990s and replaced the standard building by-laws. It introduced a nationally consistent set of minimum building standards.
In 1998, the system of private certification commenced in Queensland with the aim of improving efficiency and flexibility within the construction industry, and introducing competition into the choice of service providers. The system also reflected National Competition Policy reforms at the time.
There have been a number of reviews of the Building Act 1975 and the system of private certification since their introduction, including in 2003 and 2006. These reviews implemented a number of improvements including mandatory planning and regulatory training for certifiers, amendments to the certifier’s code of conduct, improved documentation requirements and introducing on-the-spot fines for building certifiers who failed to meet their legislative obligations.
In August 2011, the Queensland government commenced a further review of building certification and released the discussion paper Improving building certification in Queensland for public consultation. The results of the consultation and proposed improvements were being considered by government but the review process was put on hold when the Parliamentary Inquiry into the former Queensland Building Services Authority was announced. The discussion paper was subsequently referred to the inquiry for consideration.
On 2 August 2012, the Legislative Assembly directed the Transport, Housing and Local government Parliamentary Committee to inquire into and report on the operation and performance of the Queensland Building Services Authority in its regulation of the construction industry.
The Parliamentary Committee tabled its report in November 2012. The report contained 41 recommendations based on the information received throughout the public briefing, the public hearing process and written submissions.
The Queensland government provided its response to the report in May 2013 in the form of a Ten Point Action Plan released by the Minister for Housing and Public Works, the Honourable Tim Mander MP.
An implementation committee was established to oversee the implementation of all items in the Ten Point Action Plan and report back to government.
Action Item 9 of the Ten Point Action Plan committed the government to undertake a review of the role of private certifiers practising in Queensland. The item places an emphasis on probity, conflicts of interest, quality and appropriate accountability for private certifiers to ensure they adequately perform their functions. 
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High wind residential building lapses prompts Queensland inquiry into private certification

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Foreigners’ access to the $5,000 New Home Owner Grant will be scrapped in ­tomorrow’s state budget.
Foreign investors have been able to secure $5,000 for each new home purchase. They represented 1.3% of the scheme's take-up.
The decision, heralded in today's Daily Telegraph, follows <a href="https://www.dailytelegraph.com.au/realestate/buying/foreign-buyers-are-cashing-in-on-nsws-new-home-grant-scheme/story-fni0cate-1226817098977" target="_blank">a campaign by the The Daily Telegraph since February</a> which secured the support of Opposition Leader John ­Robertson.
The grant will be only available to individuals who are Australian citizens or permanent residents.
The Telegraph's state rounds reporter Andrew Clennell published previously unavailable data that showed some $2 million has been paid out to non-residents.
“We’re all about making sure these grants help those in our own backyard,” NSW Treasurer Andrew ­Constance told the News Ltd audience.
Since the New Home Owner Grant scheme was instituted in July 2012, there have been 429 ­recipients who are non-residents — or 1.3% of recipients.
The figures come despite NSW Premier Mike Baird expressing recent concern about the lack of official information on foreign investment residential purchases in NSW.
His concerns were made to <a href="/expert-insights/investing/nsw-treasury-in-the-dark-with-firb-foreign-buyer-data">the House of Representative inquiry into foreign ownership of residential property</a>.
The scheme began after the government scrapped first homeowner grants for existing properties and raised them for newer properties.
There have also been a small number of multiple applications.
From now on the New Home Grant will be restricted to one grant per person per year.
Opposition Leader John ­Robertson called in February for the government to change the New Home Grant scheme.
“The O’Farrell Liberal government is paying $5000 to overseas property investors to buy homes and land in Australia – that’s money taken straight out of the pockets of young first home buyers,” Opposition Leader John Robertson said at the time on the then O'Farrell government policy.
“Young couples doing the right thing and working flat-out to save for that deposit are paying the price for the O’Farrell Liberal government’s bungling of this scheme."
Last week John Robertson noted ABS figures showed that just 1,099 first home buyers received financing to purchase a home in April 2014 – down from 1,191 in March 2014 and less than half the level of the 2,415 who received financing in March 2011 before the Liberals came to power.
“Mike Baird has been patting himself on the back over the weekend for extending the threshold for first home buyers purchasing new properties – the ABS has confirmed that he is locking more young families out of owning their own home.
“First home buyers now represent only 7.6% of the NSW housing market – they have plummeted from 18.3% share of the market in March 2011."
The Shadow Treasurer Michael Daley accused the government of giving a leg up to overseas speculators – "and people buying their second, third or tenth property."
The grant is paid as a discount on stamp duty for properties worth up to $650,000 and vacant land worth up to $450,000. 
<a href="/expert-insights/building/nsw-first-home-buyers-can-buy-up-to-750-000-under-extended-fhog">The grant will be extended to new home purchases up to $750,000 in another pre-budget advisory</a>. 
The prospect of overseas non-citizens buying up newly built houses and apartments in bulk - all receiving multiple $5,000 grants under the NSW New Home Grant Scheme - was alarmingly raised in the Daily Telegraph.
<a href="/news/stay-calm-local-buyers-dominate-in-sydneys-sutherland-shire">It was wrapped within the now refuted suggestion that these Chinese investors were keeping first home buyers out of the property market</a>.
 
 
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Foreign buyers to be denied NSW new home owners grant

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Northwood Farm, a stud in the making given its location within Victoria’s thoroughbred horse breeding heartland, has been listed for sale.
Northwood Farm, which has been a cattle grazing property, has as its immediate neighbour Eliza Park Northwood, one of the breeding properties of the Eliza Park group owned by Hong Kong based Sun International. Just a short distance away is Darley Stud, which has recently undergone a major development by the Al Maktoum family, the ruling family of Dubai.
A little further north on the same side of Northwood Road are to be found the further acclaimed thoroughbred studs and breeding farms including Yarran and the major Swettenham Stud.
Its impressive stone and timber homestead was designed by French architect Claudine Dublier with granite stone sourced locally from Oak Valley in the nearby Strathbogie Ranges for the vendors Tony and Cathy Blazey who selected the land when it was just vacant farm land in 2000.
With direct frontage to the Goulburn River, the Northwood Farm at 60 Johnsons Lane has been listed for 28 June auction <a href="https://www.prh.com.au/property-details?listing_id=1333" target="_blank">through agent Bart O'Sullivan at Pat Rice &amp; Hawkins</a> with expectations around $2 million.
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Northwood Farm, Seymour farm offering

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Toni Collette and her musician husband, David Galafassi have secured a small reduction in the damages they must pay in their legal battle over abandoned plans to buy a Paddington terrace.
After a two day hearing, the NSW Court of Appeal ruled on Friday that the couple pay $602,500 to Industrie clothing label founder Susan Kelly for reneging on <a href="/expert-insights/investing/actor-toni-collette-and-muso-david-galafassi-fall-for-the-charms-of-contemporary-inner-city-paddington">their 2011 agreement to buy Kelly's double fronted Stewart Street property</a> (pictured in gallery above).
The revised damages bill represents a reduction of $212,407 on the original damages bill of $814, 907 ordered by Supreme Court Acting Justice William Windeyer last year.
The purchase price under the contract was $6,350,000, of which the purchasers paid a 5% deposit ($317, 500). The date fixed for completion under the contract was 30 December 2011.
But on the morning of 30 December 2011 the purchasers' solicitors advised that the purchasers did not have the funds necessary to enable them to complete and that they would not be able to proceed with the purchase.
The vendor responded that she did not accept the purchasers' apparent repudiation and intended to institute proceedings for specific performance.
On 4 January 2012 the purchasers' solicitors again advised that the purchasers were not financially capable of completing the contract and that they would be unable to comply with an order for specific performance.
On 20 January 2012 the vendor commenced proceedings in the Equity Division of the Supreme Court seeking orders for specific performance and, in the alternative, damages.
On 24 January 2012 Mrs Galafassi sent an email to the vendor and her husband apologising for their failure to complete. 
The email explained that the purchasers had been unable to sell their own home and had instead agreed to a property swap arrangement with the vendor of a different property, and in the process they had lost all their savings, meaning that they were unable to go through with the purchase. 
On or about 24 February 2012 Mrs Galafassi sent a further email again stating that there was no way they could comply with an order for specific performance if such an order was granted because they did not have the means to raise the funds to complete.
But the Galafassi couple pursued the latest court hearing where the NSW Court of Appeal ruled that Mrs Kelly was not entitled to "special condition interest", which is paid in cases where completion of a property deal is late.
The court found that since completion of the sale had not occurred, special condition interest did not apply.
But Ms Collette and Mr Galafassi will still have to forfeit their $317,500 deposit, taking the total bill to more than $920,000. Plus much of the legal expenses of Ms Kelly.
Ms Collette and Mr Galafassi had agreed to buy the terrace in September 2011 for $6.35 million, but when due to settle three months late they backed out.
"We feel sick about this, you and the vendors nothing but great and we apologise profusely," the couple said in an email to the McGrath selling agent Ben Collier.
"David and I feel absolutely sick about not being able to go through with the purchase of your house. We had every intention of doing so and it has broken our hearts. We can't apologise enough and totally empathise with your position. We are mortified. If we had the money we would happily be living in it by now," she emailed the Kelly's.
The Purchasers' email concluded with the plea: "Please reconsider taking us to court. It just makes a very sad situation much worse. We can no longer buy your beautiful house. Again, we apologise profusely. We don't have the finances to go through with the purchase. For the sake of both our families, I implore that you find a way to settle this less publicly. Understandably, all of this is not your concern. You thought you had sold the house and the sale has fallen through. We sincerely hope that you can understand our position and find it in your hearts to deal with this in another way."
The email contained the postscript: "ps...our lawyer was not entirely comfortable with us writing this letter and does not want it used against us. His advice is to state that this "appeal" is without prejudice and should not be used in a legal case against us, or in the press, and is very much confidential."
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On or about 24 February 2012, Mrs Galafassi sent a further email to the vendor's husband referring to recent publicity in the press and stating: "... I wanted to write to you in the hope that we can try and sort something out before good press becomes bad press. We are truly sorry for the position that we put you in last year, we can't stress that enough, but there has to be a way that this matter can be resolved. 
"If we can't settle it commercially, quickly, rather than legally, slowly, the value of Paddington may well be jeopardised once our legal teams get in to the Court room and the media have a field day. I am being perfectly honest when I say that there is no way that we could comply with an order to complete the purchase of Paddington if your order was granted. We don't have the means to raise the funds to settle on Paddington. When Bronte Road didn't sell at auction last November, we were very worried. 
"I fully appreciate that I am not in a good position but, without admitting that I am liable for anything, I understand that if you were to sell Paddington now, it is likely I would have to find the difference to satisfy a claim of damages if the price came in under the contract price that we signed. 
"So you would be in the same position as you would have been had you sold to us at the end of last year. Whether that happens or not, that all makes sense to me but what doesn't make sense is that the longer this matter is dragged out through legal processes (at least another month), the more damage it will do when the property is finally listed. 
"It would become like a forced sale and the media coverage would not force the price up! At the moment you have $315,000 and you still have the house, so in essence you are in a better position than you were at the end of last year. In my humble view I wouldn't put that position at risk."
Mrs Galafassi's email continued: "I am due to settle on the sale of our Bronte Road house in the next few days. As the article in the media said <a href="/news/actor-toni-collette-changes-her-mind-over-paddo-and-buys-again-in-bronte-title-tattle">we have 'swapped' our house for one not too far away</a>, and at the moment the story that we wanted to stay close to the ocean with our young family, is not too far from the truth. 
"My view is that if that story was maintained in the press, rather than coverage of all the details of a litigious battle, you will get a far better result than if you pursue me in the Courts. If you listed Paddington for sale now, who knows, you may get more than the price we agreed to pay. You just don't know. But if you don't get a higher price, well, then Dave and I may have to suffer the consequences of a damages claim. 
"Either way, you really are not going to be any commercially worse off, but we all will have avoided some of the stress, anxiety, time and effort that inevitably go hand in hand with litigation. I am not trying to avoid the consequences of our action but trying to consider more commercial and realistic options with more satisfactory outcomes for everyone, rather than paying lawyers to follow procedures and argue legal points on our behalves."
At trial the Galafassi couple contended, unsuccessfully, that these two emails were "without prejudice" and should not have been admitted into evidence.
About two months after the second email, the Kellys sold the house to Ernst &amp; Young accountant Ian Ball for $5.5 million. Ben Collier had shown the property to nine interested purchasers between January and April 2012; and that the offer ultimately accepted from Mr Ball on 24 April 2012 of $5,500,000 was an increase of $200,000 on his first offer.
Mrs Kelly then sued for the difference plus interest and land tax that arose on the December 31, since they had already bought their next home in Vaucluse.
Ms Collette wrote to Mrs Kelly's husband Nick in 2012, urging the couple not to proceed with the court case.
"I wanted to write to you directly in the hope that you will understand," she said in an email.
"We can no longer buy your beautiful house. We don't have the finances to go through with the purchase. For the sake of both our families I implore you to find a way to settle this less publicly."
The court has yet to finally decide on legal costs indicating that Ms Collette and Mr Galafassi should pay 65% of Mrs Kelly's costs though the parties are to be given the opportunity to make further submissions on costs, the chief Justice Thomas Bathurst and Justices Julie Ward and Fabian Gleeson proffered.
David Galafassi (First appellant) and Toni Galafassi (Second appellant) were represented by solicitors: YBR Solicitor and counsel: J Stoljar SC with J C Hewitt.
Susan Kelly engaged B A Coles QC with C G Carroll who were advised by solicitors, Osborne Lawyers. 
There were 66 prior cases cited in the matter which was first ruled on in May last year.
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Toni Collette's appeal secures reduced Paddington property sale damages legal bill

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The legendary outback World Safari filmmaker Alby Mangels has yet to sell his 110 hectare Meningie, South Australia retreat.
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The Princes Highway property, which sits on the<a href="https://www.propertyobserver.com.au/https://www.facebook.com/pages/The-Coorong/703697082992807" target="_blank"> Coorong</a> lagoon eco-system, was listed with $1.2 million hopes in April last year, but is now listed <a href="https://uniqueestates.com.au/Homes/Detail.aspx?id=ue323&amp;wlid=b747346f-8e3a-40e2-b96e-11684997e04c" target="_blank">through </a><a href="https://uniqueestates.com.au/Homes/Detail.aspx?id=ue323&amp;wlid=b747346f-8e3a-40e2-b96e-11684997e04c" target="_blank">Nicolette van Wijngaarden at Unique Estates</a> at $1 million plus.
But in the meantime his shed contents <a href="https://www.mgs.net.au/auction/catalogue?d=1860" target="_blank">are listed for 19 June MGS auction</a> - full of travel and movie memorabilia, sailing and navigation equipment, and movie making equipment.
There's a large selection of carved wooden and stone statuettes as presented by Kalahari Bushmen, Massai, Zulu, Indonesian, Samoan, New Guinea, South American tribes people, tapa cloth, and African dyed prints.
His <a href="https://www.theneedles.com.au/?call" target="_blank">2010 documentary, Call of the Coorong</a> was done on the <a href="https://www.theneedles.com.au/?gallery" target="_blank">property</a>.
Alby Mangels has owned the three bedroom house with light plane airstrip on the property for more than two decades.
He built the two storey home from mostly recycled stone, timber and iron materials in the mid-1990s including the old wool stores in Port Adelaide.
Known for his World Safari adventure conservation travel documentaries in the 1970s and 1980s, Mangels listed the property because he is contemplating a move closer to Adelaide.
The Netherlands-born Mangels, who also divides his time between the Philippines, Micronesia and the South American nation of Suriname, says the memorabilia was sitting in the shed doing nothing.
The proceeds will go to his preferred current charity, to help build an orphanage for the children of the typhoon-stricken Philippine city of Tacloban.
Unique Estates noted an adjoining 600 hectare property to the north was also available (same owner) by separate negotiation, currently being used as a working Dorpa stud. 
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Outback film-maker Alby Mangels lists shed contents of his Coorong, SA property

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The Cotton On model Lara Bingle's Darling Point apartment offering failed to find a buyer at its damp Sydney auction.
And with the vendor uncontactable overseas, there was no chance for immediate price negotiations around the undisclosed written reserve.
Bingle, spotted this week holidaying in Capri, Italy with partner Sam Worthington, subsequently accepted a post-auction offer Saturday evening, but too late to be included in <a href="https://domainmastheads.homepriceguide.com.au/saturday_auction_results/Sydney.pdf" target="_blank">the Fairfax Media auction results</a>.
Property Observer gathers $875,000 was secured, slightly less than its $882,000 sale in 2010.
The top auction bid was $855,000 from one of the two bidders at the crowded 10.30am auction in the 65 square metre one bedroom apartment. The onsite bidding opened at $825,000 with a vendor bid subsequently placed by the McGrath auctioneer Scott Kennedy-Green at $850,000. Property Observer counted around 25 at the auction. There appeared to be three interested buying parties.
<img src="/images/2014/06/16/bingle-june-16-one.jpg" alt="">
The weekend Sydney auction clearance rate weakened slightly from the late May fillip to 75.6% on higher than normal winter volumes, according to Australian Property Monitors, with sales between $180,000 in Blacktown and $5.25 million in Mosman. 
McGrath Estate Agents had, in the lead up to the Bingle auction, revised its price expectations to more than $850,000 for the Darling Point apartment.
The agency initially was quoting more than $825,000 for the stylish one-bedroom, with one car space that was listed<a href="https://www.mcgrath.com.au/buy/apartment-darling-point-nsw-2027/225301/?searchID=39312079" target="_blank"> through Richard Bonouvrie</a>. 
The marketing campaign was not assisted when <a href="/news/fairfaxs-domain-tips-lara-bingle-will-secure-1-million-plus">Fairfax Domain</a> speculated, seemingly of its own volition, that it could fetch $1 million plus.
The model bought it from interior designer Blainey North for $882,000 in 2010, soon after Bingle's break-up with Test cricket captain Michael Clarke.
Blainey North moved into a $2.2 million Potts Point apartment.
The Bingle apartment is the Goomerah Court company title art deco apartment apartment with city and harbour views from most of its 65 square metre space.
<img src="/images/2014/06/16/bingle-june-16-two.jpg" alt="">
It came with American oak parquetry floors, DeGourney silk wall panelling, Kreon lighting and Vola tap ware. Its quarterly levy was $2000.
There had been two other McGrath sales in the cul de sac block when $925,000 was secured for <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/apartment-darling-point-nsw-2027/76865" target="_blank">a two bedroom unrenovated listing</a> and then a <a href="https://www.mcgrath.com.au/buy/apartment-darling-point-nsw-2027/193910/?searchID=38820498" target="_blank">renovated two bedroom sale last October</a> at around $800,000 which explained the initial pricing estimate.
It was Bingle’s brother, and former reality show co-star, Josh Bingle who endeavoured to represent his sister at the auction. The listing had $850,000 plus price guidance on the McGrath website immediately after the onsite auction, and the McGrath weekend sales advisory did not give any update at close of business Saturday afternoon. However it was sold Saturday evening with the price undisclosed.
Of course the building is best known for its long association with Jean Wright, regarded as the doyenne of magazine stylists.
She was responsible for many of the upmarket glossy pages in local and international magazines and books with her trademark look, contemporary classicism, all the time operating out of a small, modern, all-white apartment there in Darling Point after her move from Melbourne. 
The Melbourne weekend auction clearance rate, according to APM, was 73.8%, with prices between $262,000 at Seaford and $4.65 million at Hawthorn East.
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Buyer secures slight discount on fashionista model Lara Bingle's Darling Point apartment

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The adjusted price expectations that Lynas Corporation rare earth mining magnate Nick Curtis and wife Angela issued last month for their trophy Woollahra abode has secured a sale.
<a href="https://bradfieldcleary.com.au/4144844/133-Queen-Street-Woollahra" target="_blank">The Queen Street house </a>was initially marketed with hopes that it might go close to $12 million in February. There were then adjusted $10 million plus indications. No sale price has been indicated for Thursday's private treaty sale, but Property Obsever would suggest around $10.5 million given what was being told to other prospective buyers.
It last traded in 2004 when bought from the 2SM radio broadcaster John Laws and wife Caroline for $7.7 million.
Laws had purchased the 961 square metre Queen Street property in 1981 for $264,000 and then commissioned a two-storey house, with separate staff quarters and garaging for six cars, behind its high fence.
There is also a separate two bedroom cottage.
All just footsteps from all the village amenities. 
Nick Curtis has been leading Lynas Corporation since mid-2001 with a career spanning more than three decades in the resources and finance industries.
Lynas’ business relies primarily on the production and sale of Rare Earths products. Last month Lynas raised about $40 million through a discounted share purchase plan and placement to assist its endeavours.
Lynas provided the first new source of supply of Rare Earths outside of China when production came online in 2012. 
Lynas owns the richest known deposit of Rare Earths at Mount Weld in Western Australia. The Chinese government is actively cracking down on illegal RE mining to improve the environmental and safety compliance of the RE industry.
China consumes 50-60% of global RE production and it is expected to continue to grow, due to fast growing Chinese domestic demand. 
Despite the name, Rare Earths are relatively abundant in the earth’s crust, however they are rarely presented in economic concentrations. Rare Earths are not found as free metals but rather as an ore consisting of a cocktail of Rare Earths elements that need to be separated for their individual or combined commercial use. 
The Queen Street trophy mansion sold through BradfieldCleary agents Bob Guth and Georgia Cleary who marketed it as "a blue ribbon retreat with comfort and convenience."
Woollahra's record sits with a 2008 sale when engineer John Grill paid $16 million on Rush Street.
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Adjusted expectations secures sale for miner Nick Curtis on Queen Street, Woollahra

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.

[smartcode_project:default project_id=140755 project_image_fid=354809]

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."

[smartcode_project:default project_id=140755 project_image_fid=366267]

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.

[smartcode_project_cta:default project_id=140755]

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."

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/X8K0Bozug7A?si=Puwc6vx_ZO0qQZF8" title="YouTube video player" width="560"></iframe>

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.

[smartcode_project:default project_id=342 project_image_fid=364553]

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.

[smartcode_project:default project_id=342 project_image_fid=357510]

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."

[smartcode_project:default project_id=342 project_image_fid=336455]

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.

[smartcode_project_cta:default project_id=342]

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.

[smartcode_project:default project_id=151921 project_image_fid=370263]

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.

[smartcode_project:default project_id=151921 project_image_fid=367468]

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.

[smartcode_project:default project_id=151921 project_image_fid=367810]

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.

[smartcode_project:default project_id=151921 project_image_fid=367796]

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.

[smartcode_project:default project_id=151921 project_image_fid=370253]

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.

[smartcode_project_cta:default project_id=151921]

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.

<img alt="Scion" data-entity-type="file" data-entity-uuid="64dc359d-736b-43b8-87a8-70a8285cab47" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-25%20at%208.47.01%E2%80%AFPM.png?VersionId=PXh.m8id_aevBPHEckPf88wQ2RQThPos" />

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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