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Michael Hintze gets Rich List billionaire status, but Urs Schwarzenbach puts him in the shade with $24 million private art gallery

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Melbourne’s 75.6% weekend clearance rate topped Sydney's 74.9% for the first time this year, according to Australian Property Monitors after a slow-down in sales in Sydney’s mid-price range suburbs.
According to Andrew Wilson, senior economist for Australian Property Markets some Sydney suburbs could have hit the “affordability ceiling” especially around Sydney’s inner west. 
At times pre-Easter there was up to a 11% gap in Sydney's advantage over Melbourne, which has been bouyed by a strong inner south.
The last weekend when Melbourne pipped Sydney was December 21, the last busy weekend before Christmas 2013.
Property Observer has noted revised final figures are deteriorating to sit in the low 70% range in Sydney since Easter.
The 10 May weekend was revised down to 70.3%.
Previously Sydney recorded 10 consecutive clearance rates at or above 80%, on the initial preliminary figures, from 1 February which followed 13 consecutive 80% plus weekend clearance rates reported over spring last year.
Belle Property Wollongong - which sold 11 of 16 auctions yesterday - secured NSW's highest sale when <a href="https://www.belleproperty.com/buying/NSW/Wollongong-and-Illawarra/Mangerton/House/35P0905-2-norman-street-mangerton-nsw-2500" target="_blank">2 Norman Street, Mangerton</a> (pictured below) fetched a record $3.6 million. It was a record for a single dwelling non-waterfront, announced by Cooley auctioneer Damien Cooley at $3 million.
<img src="/images/2014/05/19/wollongong%20may%2019%20one.jpg" alt="">
 
There were six registered bidders at the auction through Belle Wollongong agents Darren Kay and Nicole Kay. The house has ocean views from above the golf course.
Toorak had the nation's highest sale when buyers' agent David Morrell represented the buyer of a $3,955,000, two-storey house at <a href="https://www.realestate.com.au/property-house-vic-toorak-116772171" target="_blank">22 Cole Street, Toorak</a> (pictured in the top gallery above) at its Marshall White auction.
Bidding opened at $3.5 million and three bidders took the price to $3.8 million before the property was passed in for successful negotiations.
“A market is not flying when there are three or four bidders and the property does not sell under the hammer and the property is passed in,” he told the AFR.
“This is not a market that is running away from itself.” The house, which had been a single family home for about 50 years, is on a 817-square metre block of land is likely to be demolished for apartments.
But Mal James, another buyers' agent noted there was momentum.
"We saw a 76% clearance rate on the 34 auctions we covered.
"More than seven out of 10 auctions had more than two bidders, and a quarter were 'volcanoes' with four or more bidders. APM's reports an unprecedented surge in listings for May with well over 2,000 properties set to go under the hammer.
Auction numbers will surge over the next two weekends leading up to the Queen’s Birthday holiday break with over 1,600 properties scheduled to go under the hammer.
Canterbury Bankstown produced the best regional clearance rate at the weekend with a strong 90% result. Next best was the lower north with 84.4% closely followed by the upper north shore with 83.7%, the city and east with 79.6% and the northern beaches with a clearance rate of 76%.
There were 599 properties listed well up on the prior weekend’s 378. 
Auction numbers in metro Melbourne are also set to surge to high levels over the remainder of May leading up to the Queen’s Birthday weekend with up to 2000 properties set to go under the hammer.
There were 860 properties on the weekend, well up on the prior weekend’s 600 auctions.
The outer east remains Melbourne’s best regional performer recording yet another strong 79.7% result.  Next best was the north east with a 79.5% clearance followed by the inner south with 78.1%, the inner east at 77.6% and the west with a weekend clearance rate of 76.5%.
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Melbourne outperforms Sydney's weekend auction clearance rate as Toorak pips Wollongong

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The Danish pension fund Pensionskassernes Administration (PKA) has secured a stake in $60 million worth of Queensland cattle stations.
The stake in around 480,000 hectares, from Blackall to Cunnamulla, is held through the SLM Australia Livestock Fund.
The fund raised $75 million from PKA in 2012 with SLM Partners director Tony Lovell telling the AFR that the SLM fund was still looking to expand.
The market value of the assets managed by PKA across the world was DKK 194 billion (A$38 billion).
The AFR noted SLM Partners kept a low profile as it aggregated its properties.
The Cunnamulla aggregation includes the 43,000ha Padua Park hub purchased for $10 million, sold in part by the Sunshine Coast engineer David Wimhurst. There was also the 49,000 hectare Willacora hub for $9.3 million; the 71,000 hectare Eureka Plains for $7.4 million; the 48,000 hectare Amenda at $11.8 million and the 79,000 hectare Garrawin for $4.3 million.
At Quilpie, SLM put together the 165,000 hectare Colac hub for $6.4 million.
At Blackall it secured the 25,000  hectare Listowel Downs for $11.2 million.
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Danish pension funds take Queensland cattle station stake

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Meriton Group has indicated its support of the current regulations surrounding foreign investment in real estate, but would like their liberalisation.
"Although offshore buyers represent only a small percentage of Australia’s overall sales, this market is an important factor in maintaining business confidence and giving developers the impetus and security to embark on new projects – directly increasing the supply of new housing" the Meriton founder Harry Triguboff advised the House of Representative inquiry into foreign ownership of residential property.
It was among the most diligent of submissions made to the committee which the Treasurer, Joe Hockey asked in March to report back by October. There were an <a href="https://www.aph.gov.au/Parliamentary_Business/Committees/House/Economics/Foreign_investment_in_real_estate/Submissions" target="_blank">underwhelming 15 submissions</a> made on the supposed controversial issue which Liberal MP chairperson Kelly O’Dwyer has tried to make her high-profile cause.
"If Australia wishes to keep housing affordable and to keep developers building, it is imperative that we embrace foreign investment in real estate and the certainty it can bring to industry," the Meriton submission said.
"In light of Australia’s recent Free Trade Agreement with China, this review represents an opportunity for FIRB regulations to in fact be liberalised rather than further restricted."
Harry Triguboff said it was his belief that it was a range of other factors, such as excessive local government planning requirements and fees, that added to the cost of housing and which have seen first home buyers effectively pushed out of the market. 
"There are many possible solutions and alternatives to this problem which do not involve restricting the flow of foreign investment in Australian real estate. 
"The outcomes of this inquiry are of major significance to Meriton, as the nation’s largest apartment developer, and the housing market overall.
"In order to ensure consistent and affordable residential housing supply, it is important that Australia strengthen its ties with overseas markets that are not subject to the ups and downs of the domestic economy. 
"Foreign investment remains a welcome source of support for the local housing and construction industries and any changes to regulation would be keenly felt."
He hopes welcome to discuss this issue with the committee. 
Their submission noted Meriton is Australia’s largest apartment builder, constructing over 2,500 new apartments annually, and accounting respectively for 6.4% and 1.6% of annual dwelling commencements in NSW and nationally. 
Meriton provides employment for around 2,700 people across the building and services sectors. It employs either directly, or as sub-contractors, up to 2,000 people in the construction industry on around 15 active building sites in Sydney, Brisbane and the Gold Coast, and over 700 in the services and tourism sector, contributing significantly to the Australian economy.
Meriton’s forecast turnover for 2014 is some $2 billion. 
"Foreign investors contributed to around 13% of Meriton’s sales in the financial year 2012- 2013, and without securing this initial foreign investment, many of Meriton’s complexes may not have been developed," the submission said.
The submission said foreign investment in Australian residential real estate had often been the subject of political controversy. 
"In the late 1980s, concerns over Japanese investment, particularly in Queensland, led to the amendment of the foreign investment legislation and the establishment of regulatory arrangements which are essentially operating unchanged today," it said. 
Photo of Harry Triguboff courtesy of Wikipedia/Creative Commons.
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Meriton's Harry Triguboff says FIRB regulations should be liberalised, not further restricted

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The federal government intends axing the Tools for Your Trade grants program for a loans scheme because apprentices misused the scheme instead spending the money on tattoos, fancy wheels on their cars, and partying.
The Industry Minister Ian Macfarlane says tax-exempt cash grants of up to $5,500 were paid to apprentices doing training in areas of established skills shortage but without receipt for tools.
"I think the whole skills and training area was just hanging out to be rebuilt or streamlined, and so we’ve stepped in and done that,” he told the Australian Financial Review Weekend.
 “We’ve got evidence that they were spending the money on tattoos and mag wheels for their cars, and birthday parties,” Mr Macfarlane said.
“Because the money was basically being thrown at them they just spent it on whatever they wanted to.
“You certainly didn’t have to provide a receipt for tools. I think the whole skills and training area was just hanging out to be rebuilt or streamlined, and so we’ve stepped in and done that.”
The Coalition will replace Tools for Your Trade with the Trade Support Loans program, which will provide interest-free loans of up to $20,000, similar to HECS for tertiary students, to support them through their training.
It will offer apprentices loans of up to $20,000 at concessional interest rates over a four-year apprenticeship. Apprentices will need to begin repaying their loan when their income exceeds a minimum annual threshold ($53,345 in 2014-15).
The loans will be available to apprentices doing a certificate III or IV qualification that leads to an occupation on the national skills needs list.
The budget papers say that apprentices who successfully complete their training will receive a 20% discount on the amount to be repaid.
The money will be capped at $8,000 in the first year of the apprenticeship, $6,000 in the second, $4,000 in the third and $2,000 in the fourth.
The loan program will cost $439 million over five years.
The budget is set to save almost $1 billion over the next four years by scrapping the Tools for Your Trade program from 1 July this year.
This program was originally introduced by the Howard government.
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Tools for Your Trade federal grants spent by apprentices on tattoos, mag wheels and parties

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Mortgage insurer Genworth is set to list tomorrow on the Australian stock exchange after strong local and international equity interest, the second biggest initial public offering for the year to date. There was a $2.65 per share institutional price.
Genworth plans to list with a market capitalisation of around $1.72 billion. It has a 45% share of the lenders’ mortgage insurance (LMI) market in Australia, in an oligopoly as Genworth and the other main player, QBE LMI, have a combined share of around 78%.
Goldman Sachs and CBA Equities, Macquarie and UBS launched a book build last week following the decision of the US parent to sell down a 34% stake in its Australian subsidiary.
Genworth will raise about $750 million from the float, which was delayed two years ago, following heavy losses in the local LMI arm.
LMI covers lenders when borrowers default on their home loans. LMI is typically required by banks as a result of pressure from the Australian Prudential Regulation Authority and their own boards for risk mitigation when a borrower has less than 20% of the purchase price as a deposit.
Mortgage insurance covers the lender – usually banks – with Genworth the largest Australian provider, with more than 60% of its business coming from loans written by CBA, Westpac Banking Corporation and National Australia Bank.
Genworth said it expected to post a net profit of US$231 million ($248 million) for the year to 31 December, up from US$179 million in 2013.
But CLSA analyst Jan van der Schalk told the AFR the company produces an 11% return on equity, which is a “desperately poor return for a feast or famine business”.
Goldman Sachs has estimated a property price correction of 10% would have a pre-tax impact of $870 million over a two to three year period.
A hard landing for property prices – a fall of 30% – would have a pre-tax impact of $2.2 billion over two to three years.
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Genworth mortgage insurer set for ASX debut

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The expatriate Australian billionaire philanthropist Sir Michael Hintze has added the Goondiwindi district property, Boolarwell to his east coast farming portfolio.
The South Tallwood property totalling 7800 hectares cost $9.2 million.
Talwood is 450 kilometres west of Brisbane, between <a href="/news">Goondiwindi</a> and <a href="/news">St George</a>.
Bought from the Turner family, it is a mixed cropping and irrigation farm using precision agriculture technologies.
The grazing farm in the Boonarga district was pioneered by the Gunn family the 1890s.  
It was Sir Michael's first known purchase since last year when <a href="/news/expat-billioniare-sir-michael-hintze-spends-another-3-75-million-on-nsw-rural-empire">he bought</a><a href="/news/expat-billioniare-sir-michael-hintze-spends-another-3-75-million-on-nsw-rural-empire"> a 609 hectare Wee Waa farm</a> in the New England, NSW district. 
But the London-based hedge fund founder who has amassed one of Australia’s fastest-growing farm portfolios, has in recent times appeared to have an elevated interest in Queensland property.
His other recent purchases in Queensland include a $2.35 million acquisition of a 166 hectare sugar cane farm which took his Horseshoe Lagoon holdings to 572 hectares costing $9.3 million.
His Australian freehold acquisitions total around 60,000 hectares since 2007 through his private pension fund, MHPF, which has spent about $135 million on the freehold land along with an estimated $10 million plus on water licence purchases.
Hintze founded CQS Management, a London-based hedge fund with assets of $US11.5 billion, in 1999. The CQS Directional Opportunities Fund has been ranked by Bloomberg at number three on its list of the 100 top-performing hedge funds, returning nearly 36% net of fees last year.
He was raised in Sydney after the family arrived from China as ethnic Russian refugees in 1953. He holds a BSc in Physics and Pure Mathematics and a BEng in Electrical Engineering, both from the University of Sydney. He also holds an MSc in Acoustics from the University of New South Wales, an MBA from Harvard Business School and received a Doctor of Business and an Honoris Causa from the University of New South Wales. 
Prior to beginning his career in finance, he served for three years in the Australian Army as a captain in the Royal Australian Electrical and Mechanical Engineers. The hedge fund chief, who spent 12 years at Goldman Sachs in roles such as head of European emerging markets, left Sydney in 1980 for Salomon Brothers in New York.
In June 2013 he received a knighthood in recognition of his substantial charitable contributions to the arts in the United Kingdom. 
On the weekend's annual Sunday Times Rich List, Sir Michael was given a £1,055 billion net worth, ranked 92nd richest UK resident, up £155 million from 95th place in 2013.
Hintze, whose wealth had been previously estimated by the rival Forbes magazine list  at US$1.6 billion, has said he was not just looking for capital gain from the properties. He says he seeks solid returns on production.
His purchases have been driven by the view that rural land in Australia represents good value in light of the strong global demand for “soft commodities”. 
Hintze's buying spree began when he spent $12.5 million for a Breadalbane, NSW property in July 2007. <a href="https://mhpremiumfarms.com" target="_blank">The Hintze portfolio</a> has been accumulated and managed by Richard Taylor, a director of Growth Farms Australia. 
''I'm not a farmer, but I do the numbers. It's got to make money,'' Hintze once said.
More recently he noted: “I wish the dollar were lower as it would be easier in farming.”
He added Australia was expensive even for dining.
“The days when there was an arbitrage in saying, ‘Don’t worry I’ll buy you a meal when I come to Australia and you buy me one when you come to London.’ It’s gone the other way around,” Hintze quipped.
In March this year Queensland's Valuer-General released 1 October 2013 annual land valuations for properties in the Goondiwindi Regional Council local government area.
They showed Goondiwindi Regional Council area's land values had decreased by 10.5% overall since the last valuation issued in 2012.
"Generally the market for primary production land throughout the local authority has shown a decline, with sales showing large reductions in values primarily throughout the Brigalow Belt and the Traprock country.
"The exception to this trend is the coolibah country associated with the Macintyre and Weir Rivers, the irrigation country along the Macintyre Brook and Dumaresq River, the red soil box country at Talwood and the mixed farming country in the Inglewood district where there has been no change in unimproved value levels."
Feature photo: Stock.
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Expat Rich List billionaire Michael Hintze buys $9.4 million Gooniwindi farm

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Shannagolden, one of the largest estates on Brighton's coveted Golden Mile, has been sold for a reputed $18 million record price.
The four bedroom house on 3900 square metres at <a href="https://www.domain.com.au/property/for-sale/house/vic/brighton/?adid=2010225457" target="_blank">12 Moule Avenue sold through </a><a href="https://www.domain.com.au/property/for-sale/house/vic/brighton/?adid=2010225457" target="_blank">Jonathan Dixon at the JP Dixon agency</a>.
It was the second prestige price record paid last week in Melbourne with a $12 million plus sale also secured in <a href="/news/hollyford-st-vincent-place-mooted-10-million-plus-record-setting-albert-park-mansion">Albert Park</a>, reputedly to a travel industry executive.
Shannagolden was sold by the pathology pioneer Wallace Cameron and wife Joan, who also own the Mt Macedon estate, Sefton.
The Cameron's, who bought Shannagolden for a then $5.1 million record in 1997 through Dixon, reportedly has $25 million expectations in 2011. 
{qtube vid:=s1D2stctk7I}
The Age report it was bought by the retired businessman Julius Colman and wife Jadwiga. 
The Salvo family's Glyndon Avenue property had held Brighton's record of $15.6 million since.
Shannagolden is a contemporary mansion built about 35 years ago.
It's prior owners include the Pelaco and Vaughan families.
Brighton has been something of a sleeping giant over the past year, with sales slow to be secured.
The former Australian cricket captain Ricky Ponting and wife Rianna - who are expecting a baby brother for their two daughters  - <a href="/news/nsw/ricky-ponting-lists-burraneer-bay-home-as-he-heads-to-brighton">moved into</a><a href="/news/nsw/ricky-ponting-lists-burraneer-bay-home-as-he-heads-to-brighton"> their property in Brighton last year</a> after paying $9.25 million.
It is the Shandford Estate, a 1920s Edwardian seven-bedroom house on 1890 square metres of land, which has a billiard room, library, tennis court and a private laneway to the nearby beach.
Last sold at $2.7 million in 1999, the Brighton house was sold by private treaty through JP Dixon last March.
The 39-year-old former Tasmanian told the News Ltd weekend paper he was enjoying the shift from Sydney.
"Obviously it’s more my lifestyle in Melbourne, coming from Tassie, being around footy and even the weather is a bit more what I’m accustomed to," Ricky Ponting said.
<a href="/news/vic/shane-warne-secured-10-85-million-in-kilkerran-sale-so-no-brighton-record">Shane Warne sold his Brighton home</a>, Kilkerran late last year for $10.85 million, and is reported to have recently spent around $4 million on a four bedroom, two bathroom Kinane Street, Brighton home.
The heritage-listed property, Kilkerran was bought for $8.55 million in 2009 with his then-wife Simone Callahan.
It had been completely renovated to include a wine room, a gym, basement garage, tennis court, cinema and a pool with Warne's cricket number, 23, inscribed on the bottom of the pool.
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Shannagolden secures $18 million Brighton record to end cold snap

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Lukas Kamay, the young NAB dealing desk broker arrested in the alleged ABS insider trading case, was not only the buyer of one of the four apartments sold in the recent Channel 9 The Block series.
He had two other Victorian properties in his property portfolio, all now with restraining orders.
Property Observer has ascertained he owned small investor property at Sebastopol and Darley, in regional Victoria.
The Silverdale Drive, Darley property, near Ballan in the Moorabool municipality, cost $289,000 in 2011. <a href="https://www.onthehouse.com.au/reports/property_profile/21364737/Unit_4,_13_Silverdale_Drive_Darley_VIC_3340/" target="_blank">The onethhouse website suggests its current value sits between $275,000 and $311,300</a>.
The four bedroom Baudinette Drive, Sebastopol property, near Ballarat, was bought for $120,000 in June last year, both purchases occurring before any of the alleged foreign exchange trading.
<a href="https://www.onthehouse.com.au/reports/property_profile/22396528/26_Baudinette_Drive_Sebastopol_VIC_3356/" target="_blank">Onethehouse gives its likely value estimate now as between $113,100 and $127,100</a>.
It was available for rent earlier this year at $280 a week.
The more recent headline grabbing Albert Park purchase was the luxury apartment decorated by the runner-up Adelaide twins, Alisa and Lysandra which sold at its 8 April auction for $2.375 million —<a href="https://www.dinglepartners.com.au/index.cfm?pageCall=property&amp;propertyID=2618525" target="_blank" style="line-height: 1.3em;"> a massive $616,000 above the reserve of $1.759 million</a>.
<img src="https://cdn.portplus.com.au/742/2649068/20058186_640x.jpg" alt="3/47 O'Grady Street, ALBERT PARK - Rental - Dingle Partners" hspace="" vspace="" width="640" name="thePic"> 
NAB broker Lukas Kamay, who turned 26 on Anzac Day, has been accused of using insider Australian Bureau of Statistics information to make $7 million-plus by trading in the Australian dollar online over the past 10 months.
He was arrested on Friday last week after a joint investigation by the Australian Federal Police and the Australian Securities and Investments Commission.
Police allege Kamay, of Melbourne, used confidential ABS statistics to trade online, betting against foreign exchange derivative movements in the Australian dollar after allegedly being in receipt of national economic, retail trade and labour-force statistics before the normal 11.30am release.
After it was alleged Mr Kamay profited between August 2013 and May this year with around $7 million made from the trades, police froze assets including property, a $15,000 car - and $6.5 million in bank accounts.
<a href="https://ow.ly/i/5wuz5/original" target="_blank">The Sunday Herald Sun uncovered Kamay's $2,375,000 purchase</a>, which Property Observer believes along with the other sales in the block, has yet to settle.
The three bedroom apartment was marketed for Alisa and Lysandra, the former SA police officers, by the Melbourne CBD agents, Anton Wongtrakun and Rochelle Wilson from Dingle Partners.
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Property Observer gleans it unlikely that settlement of apartment 3 at 47 O'Grady Street will occur as expected by the production company, Watercress Productions with the reputed 20% deposit likely to be subject to legal proceedings. Watercress will have rights of termination and compensation.
The twins were not the overall winners, so it will not affect the final result of the television renovation gameshow, and in all likelihood it will not affect their payout as the outcome of the auction night are likely to be honoured by Watercress and Channel 9.
There were six or seven competitive bidders on the apartment, according to <a href="/expert-insights/buying/it-was-our-last-throw-of-the-dice-bidding-and-winning-at-the-block-fans-v-faves-auctions">one attending buyers' agent</a>, Frank Valentic who was there for an intending buyer from Horsham. It appeared to be knocked down to another buyers' agent. The exact intended ownership of the apartment has yet to determined, according to News Ltd, as the ASIC and the AFP continue their investigation. It is possible the purchase was made through one of two companies directed by Kamay, L.A. Promotions Pty Ltd or Lukam Pty Ltd which was established in April this year.
There  is now a caveat taken  over the asset by the AFP-led Criminal Assets Confiscation Taskforce.
Kamay, who appeared briefly in court in Melbourne last Friday, arranged $500,000 in bail, agreeing to surrender his passport, and live with his parents at their 1000 square metre property in the Melbourne suburb of Eaglemont. He is due back in court on August 24 for a committal mention.
It appears Kamay secured the apartment as an investment property as Dingle Partners, until this week, had it listed as available with a $2,500 weekly asking price, reflecting a gross 5.4% rental yield. 
It was advertised as available for rent from 26 May, presumably around its intended settlement. 
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<div class="clearBoth">FOR RENT    $2500 per week</div>
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<div class="bedIcon"><img src="https://202.91.7.245/storage/templatedWeb/13_742_new/resources/images/bed.png"></div>
<div class="bedValue">3</div>
<div class="bathIcon"><img src="https://202.91.7.245/storage/templatedWeb/13_742_new/resources/images/bath.png"></div>
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<div>FURNISHED HIGH END LOFT APARTMENT WITH A QUINTESSENTIAL MANHATTAN FEEL</div>
<div>3/ 47 O'GRADY STREET ALBERT PARK</div>
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Available 26 May 2014
Bond $15,000
Rent per calendar month $10,863
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The apartment was marketed before being taken down from the website as a cutting edge transformation over three state-of-the-art floors."The international standard warehouse inspired apartment fuses innovative interior design with bespoke style to create a spectacular inner city abode."
The four apartments were recently installed into a red brick former cinema turned office warehouse that was offloaded <a href="/news"></a>by a company associated with <a href="/expert-insights/investing/the-block-albert-park-warehouse-price-appreciation-in-history">Lloyd Williams</a>, the Melbourne property developer.
<a href="/news/substance-over-style-as-chantelle-and-steve-win-the-block-2014-fans-v-faves">The Block Albert Park results</a> were as follows:
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<li>Steve and Chantelle, 1/47 O’Grady: $2.47 million ($636,000 above the adjusted reserve)</li>
<li>Alisa and Lysandra, 3/47 O’Grady: $2.375 million ($616,000 above the adjusted reserve)</li>
<li>Kyal and Kara, 2/47 O’Grady: $2.44 million ($567,250 above the adjusted reserve)</li>
<li>Brad and Dale, 4/47 O’Grady: $2.31 million ($507,250 above the adjusted reserve)</li>
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Alleged ABS insider trader Lukas Kamay, the three time property investor with restraining order

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As another significant Point Piper mansion bites the dust, our property contrarians Jonathan Chancellor and Margie Blok appear to be the only ones mourning the loss of Craig-y-mor, the Wolseley Road residence with a pedigree as long as its venerated waterfront street, famous as one of Australia’s most expensive addresses.
Demolition has begun on the mansion now owned by the son of a former vice-president of China.
Craig-y-Mor, the Point Piper non-waterfront residence owned by Zeng Wei and his wife, Jiang Mei, no longer sits proudly on the hill overlooking Sydney Harbour with picture postcard-perfect views of the Sydney Harbour Bridge and Opera House.
The grand 1910s house (pictured while being demolished this week) came with renovations by Professor Leslie Wilkinson. It cost $32.4 million in 2008 through estate agent Rick Nolasco making it Sydney's most expensive subsequent residential demolition. It will be replaced by a $5 million Gergely &amp; Pinter designed house.
The 2008 purchase, which ranked as the third highest priced sale in Sydney at the time, remains the priciest non-waterfront holder.
The wrecking ball moved in earlier this week to bowl over the 100 year old home that's certainly had in recent times some high profile owners. 
Who could forget the internal scenes of Craig-y-mor featured in Bastard Boys, the ABC television drama documenting stevedoring company boss Chris Corrigan and the waterside workers union dispute? Although filmed on a set, various scenes depicted the Corrigan family living in comfortable splendour at their Point Piper home while wharvies were threatening the besieged family.
The late Rene Rivkin and his wife, Gayle owned it for a while.
Then it was the home of Ben and Tiffany Tilley.
There was also the one time Broken Hill lawyer, the late mining magnate, Roy Hudson, who was regarded as the Lang Hancock of the east coast.
The story of the house, as revealed by our columnists, also actually reflects signs of the emergence of Asian super-powers, Japan, the Land of the Rising Sun, and China almost 100 years apart.
<img src="/images/2014/03/28/jc-silhouette-7.jpg" alt="" style="float: right;">HE SAID:
I wrote shortly after the 1990 demolition of Paradis sur Mer that Sydney's property scene lost "some of its soul." 
And every time I sail past, I think what a tragedy when reminiscing about that wonderfully imposing white home situated on such a vast landscaped block with tennis court. And now it's the same for further up on the Point Piper hill.
I recall heritage authorities gave informal consideration to the listing of Paradis sur Mer, after the prospect was raised, but without strong supportive argument, heritage authorities declined to proceed. Ditto Craig-y-Mor.
Paradis sur Mer, then Sydney's most famous home, was dramatically knocked down with the neighbours on Wolseley Crescent awoken at 6.30am on a Saturday morning in March 1990 to the sounds of a 28-tonne excavator gouging through the top floor of the three-storey mansion set on the picturesque 2,900 square metre property.
It was known as the 1930s Radford house, little known but highly regarded.
Of course Paradis sur Mer - or Toison d'Or as the chatelaine Lady (Susan) Renouf preferred it known - became Sydney's best known residential landmark during Lady Renouf's occupancy while married to businessmen Robert Sangster until 1984 and then Sir Frank Renouf between 1985 and 1988. It had sold for $19.2 million in 1989 to Geza Seidl who the 2,900-square-metre site in 1990 for $13 million to the demolishers, Gerald and Monika Symonds. 
Some wags sent condolences suggesting the demolition had done me, the Paradis sur Mer correspondent, out of a job.
Not quite so!
Following demolition of the landmark 1930s residence and lengthy Land and Environment Court proceedings, two costly contemporary, architect-designed residences were built.
Paradis sur Mer I, located on the footprint of the original residence, sold for $6.87 million to the Poon family.
Paradis sur Mer II, located on the former tennis court and rose garden, sold to the Tang family for $7.25 million. 
Poon Tang Point, the wags suggested.
Ofcourse the last piece of the then subdivided Paradis sur Mer estate was sold by the speculative property developers Gerald and Monica Symonds for $1.44 million in 1994 when bought by the neighbours who owned the hi-tech Bang &amp; Olufsen house, anxious that no further building take place on the site.
The 260-square-metre parcel of land - the smallest vacant block among Sydney Harbour's 2,400 waterfront sites - is about eight metres wide and about 34 metres deep.
<a href="https://www.realestate.com.au/property-house-nsw-point+piper-116163487" target="_blank">A house was built on the slither, which I notice is currently up for sale through Sotheby's International agent James McCowan</a>. 
 
<img src="/images/2014/03/28/mb-silhouette-6.jpg" alt="" style="float: left;">SHE SAID:
 
I think it’s a crying shame Point Piper has lost another of its most significant homes – and with a Wilkinson renovation to boot.
Where is Geraldine O’Brien (the highly respected heritage journalist who reported for many years in The Sydney Morning Herald) when we need her?  In days gone by, O’Brien would have ensured Sydneysiders were kept informed about Craig-y-mor’s possible demolition, as well as igniting debate about the heritage merits of the Point Piper mansion.
It’s a little known fact that Craig-y-mor served as the Japanese consular residence for decades. The first Japanese Consul-General to live at Craig-y-mor was Iyemasa Togugawa, the son of Prince Tokugawa. In 1925, Iyemasa Togugawa moved to live at the Wolseley Road residence known for its high ceilings, bay windows, arches and a colonaded central courtyard.
Born in 1884, Iyemasa Togugawa studied at the Political College of the Tokyo Imperial University, and then entered the Foreign Office of Japan in 1909. He served as Attache to the Japanese Embassy in London and as First Secretary to the Japanese Legation in China. After receiving the Fourth Order of the British Empire from King George V in 1918, he returned to a diplomatic position in London, before being appointed Consul-General to Australia in 1925.
Considered a statesman of front rank in world affairs, Togugawa was reputed to be the most brilliant English speaking Japanese person in the world. Published in The Sunday Times on July 31, 1927, is a report describing his home at Craig-y-mor, “from the bend of Point Piper it commands one of the most glorious views of Sydney and the harbour that any vantage point of the shore can command”.
The report continues, “You will not find Japanese books on the shelf of the library at Craig-y-mor. Rows of English treatises on international law, volume upon volume of educational works, the problems of industry, sociology and economics – all evidence the style and inclination of this future prince.”
Another Japanese Consul-General who lived at Craig-y-mor was Mr M. Akiyama. He was in residence there in early 1941 - only months before Japanese bombers struck at Hawaii in December of that year, and Prime Minister John Curtin declared Australia was at war with the Japanese Empire.
A report from The Sydney Morning Herald, in April 1941, describes a reception at the Point Piper property. “The Japanese and Australian flags formed an arc over the entrance to Craig-y-mor at Point Piper, yesterday, when the Consul General for Japan gave a late afternoon reception in honor of his Imperial Japanese Majesty’s Envoy Extraordinary and Minister Plenipotentiary, Mr Tatsuo Kawai.” 
“The Japanese drink, saki was served to guests and flowers in the Japanese colours, red and white, decorated the reception rooms. Even the marquee on the lawn adhered to the colour scheme by being striped in red and white.”
Attending the reception were a long list of VIPs including “the acting Prime Minister, Mr McFadden, and Mrs McFadden, the Minister for the Army, Mr Spender, and Mrs Spender, the Minister for Education, Mr Drummond, and Mrs Drummond, the Attorney General, Sir Henry Manning, and Lady Manning, Lady Jordan, Lieutenant-General and Mrs C.G.N. Miles, Air Commodate W.H. Anderson, Commodore and Mrs G.C. Muirhead Gould, the Acting Consul-General for the United States, Mr Albert M Doyle and Mrs Doyle”.
In his book, Australia’s Greatest Peril 1942, author Bob Wurth, says a Japanese spy lived at Craig-y-Mor when Mr M. Akiyama was the Consul-General.  “Japan was not able to establishes naval and army attaches in Australia when its legation was established in early 1941, but by mid-year the Ambassador in Melbourne, Tatsuo Kawai, had been given substantial funds from Tokyo for intelligence purposes.” 
“He retained a naval spy, Mitsume Yanasi, who resided at the Japanese consulate in Sydney. The residence, Craig-y-Mor, was located at Point Piper, and had spectacular views of the harbour. Before Japan entered the war, Australian captains and admirals partied as guests on Craig-y-mor’s sweeping lawns. Yanase was able to look out his window and send detailed troopship and warship movements to a grateful German regime.”
The Japanese were of course shown the door as war raged.
Before the Japanese Consuls-General took up residence at Craig-y-mor, it has been the home of Arthur H. Davies and his wife Muriel. Davies, who was chairman of Australian Guarantee Corporation, after he built the house in 1908. 
The couple’s only child was born at Craig-y-mor in 1910. Known as Cherry (although christened Muriel Nora), she lived there with her parents until the family sailed to England in 1920.
Cherry returned to Australia in the 1940s with her English husband, Morris Jackaman, selling Craig-y-mor in 1960 to Roy Hudson. It was the year she had joined the NSW National Trust, and went on to become the first female president of the National Trust of Australia (1977-1981). 
A tireless conservationist with a lifelong dedication to the heritage cause, Cherry Jackaman led numerous advocacy campaigns to save many historic places threatened with demolition. It is indeed sadly ironic her childhood home was demolished without fanfare this week.
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Goodbye Craig-y-Mor, the Prof Wilkinson Point Piper home

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and <a href="https://www.apartments.com.au/developers/perifa">PERIFA</a> have celebrated the topping out of <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf,</a> marking a significant milestone in the delivery of one of Syd​ney's most anticipated waterfront communities.

Located on Sydney's harbourfront at <a href="https://www.apartments.com.au/developments/putney-nsw-2112">Putney</a>, the project has now reached its highest structural point, with construction progressing strongly towards completion in 2027. 
&nbsp; 
The milestone was celebrated on-site with project partners Phoenix Property Investors, Mitsubishi Estate Asia, Versatile Construction, <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, consultants and stakeholders, to recognise the collective effort behind the transformation of the historic waterfront site into a vibrant new residential, marina and lifestyle destination.

[smartcode_project:default project_id=13962 project_image_fid=362240] 
&nbsp; 
<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will deliver a mix of waterfront residences and terraces, complemented by a private 36-berth marina, waterfront dining opportunities and a revitalised foreshore designed to reconnect the community with the river's edge. 
&nbsp; 
Abadeen Executive Chairman and Founder Justin Brown said the project represented a rare opportunity to create the next chapter in Sydn​ey's long history of successful waterfront precincts. 
&nbsp; 
"Throughout Sydney, some of the city's most sought-after addresses have emerged from carefully considered waterfront precincts such as Woolloom​ooloo Wharf, Walsh Bay and Breakfast Point," Brown said.

[smartcode_project:default project_id=13962 project_image_fid=362566] 
&nbsp; 
"What makes these places so successful is that they become much more than residential developments," Brown said.

"They bring together homes, hospitality, marina facilities, public spaces and a strong sense of community in locations where future supply is incredibly limited."

Brown has long described absolute waterfront land in Sy​dney as "finite."

"Once these opportunities are developed, they are rarely replicated. That's why Syd​ney's waterfront precincts have consistently demonstrated strong demand and long-term value growth over many decades. 
&nbsp; 
"<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is one of the few remaining opportunities to secure a residence within a masterplanned waterfront community that combines direct water access, marina ownership opportunities and a genuine village lifestyle just moments from the Sy​dney CBD."

[smartcode_project:default project_id=13962 project_image_fid=362564] 
&nbsp; 
PERIFA Founder and Managing Director Fabrizio Perilli said the project reflected a shared commitment to delivering exceptional places that create long-term value for residents and the broader community. 
&nbsp; 
"The topping out milestone is a significant achievement for the Versatile Group and a testament to the collaboration between all project partners, consultants and contractors involved," Perilli said. 
&nbsp; 
"Beyond the residences themselves, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will establish a new waterfront destination that celebrates the history, character and lifestyle of this unique location while creating a lasting legacy for future generations."

[smartcode_project:default project_id=13962 project_image_fid=291195] 
&nbsp; 
Construction is being delivered by <a href="https://www.apartments.com.au/builders/versatile">Versatile Construction</a>, with structural works now substantially complete across the precinct. Attention will progressively shift to the construction of the waterview terraces, apartment façades, services and interior fit-out works over the coming months. 
&nbsp; 
With limited residences and marina berths remaining, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> continues to attract strong interest from owner occupiers and downsizers seeking a premium waterfront lifestyle within close proximity to Putne​y Village, Rh​odes, Top Ry​de and the Syd​ney CBD. 
&nbsp; 
As one of the last opportunities to secure a residence within a new masterplanned waterfront community on Sy​dney Harbour, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is expected to remain a highly sought-after address for years to come.

[smartcode_project_cta:default project_id=13962]

Joel Robinson

Abadeen, PERIFA, top out Putney Wharf harbourfront precinct

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]

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.

Jonathan Chancellor

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