<html><body>
The Ray White Surfers Paradise Group’s annual auction event saw 108 residential properties, from Gold Coast flats and villas, to highrise apartments and hinterland homes, go under the auction hammer yesterday. Some 50 offerings found buyers.
<div id="story_content">
The Ray White Surfers Paradise chief executive Andrew Bell had predicted the success rate would exceed 50%, so its initial result was clocked just short at 48%.
More than $22 million worth of property sold under the hammer with 12 properties sold pre-auction. There was no shortage of buyers with 372 registered bidders.
</div>
Apartments sold from as low as $178,000m which was a one-bedroom apartment in the Florida compex. The ninth floor Gold Coast Highway block offering had last sold at $97,500 in 1998, thereby reflecting its value gaining at an annual rate of 3.96%.
There was a $720,000 <a target="_blank" href="https://www.raywhite.com/qld/main-beach/1047016/">two bedroom Park Lane, Main Beach</a> sale, which reflected 4.4% annual growth since its 1999 last sale. The vendors had wanted $1.1 million on its initial listing last October. It's a resident-only block with the weekly body corporate fees at $175 for the 185 square metre apartment.
There was a <a target="_blank" href="https://www.rwsp.net/qld/surfers-paradise/1075363/">two-bedroom, sixth floor, 125 square metre Breakers North unit</a> sale at Old Burleigh Road, <a target="_blank" href="/news">Surfers Paradise</a> at $710,000, which reflected 5.8% annual price growth since its previous 1985 sale of $140,000.
The Event, Ray White’s annual Gold Coast ­auction gala, attracted bidding from the packed room of buyers who were all hoping they had ­just purchased in a rising market.
Andrew Bell acknowledged conservative buyer intentions with vendor expectations still a bit ahead of what buyers will pay. There was a mix of owner-occupiers and investors, the majority Australia-based.
"That’s why we saw a lot of $1,000 to $2,000 incremental bids,” Mr Bell told the press, noting there had typically been three or four bidders for each property.
Mr Bell indicated he doesn't predict strong price growth during 2014 with the market strengthening from the bottom up after a tough few years.
There were only the three mortgagee sales at this year’s auction including <a target="_blank" href="https://raywhiteprestigegoldcoast.com.au/qld/surfers-paradise/1074104/">an older style Paradise Waters home</a> (pictured below).
{yoogallery src=[images/stories/2014/01/28/gold]}
The three-bedroom Admirality Waters house was sold at $1.4 million, a 33% discount on its previous sale price. The 746 square metre property, sold by receivers who had set a $1.2 million reserve, had previously traded at $2.1 million in pre-GFC 2007. Its official land valuation was $1 million. It had also sold in 2005 at $1.775 million.
In the Gold Coast hinterland, a large five-bedroom family home with pool at Bonogin sold for $570,000. It had traded at $745,000 in 2005. The 9,100 square metre property at 336 Smith Road was marketed as a "<a target="_blank" href="https://www.raywhite.com/qld/bonogin/1071794/">bush bargain</a>."
Another property, with townhouse potential, was sold for $745,500 at <a target="_blank" href="/news">Southport</a>. It was a highset three-bedroom home on a 1,214 square metre block last traded at $800,000 in late 2009. It also sold at $732,500 in 2008. The Ray White selling agent David Djurovitch told Property Observer the buyer will seek to obtain development approval. It had been offered with the prospect of between three and five townhouses, down on prior marketing campaigns when it was suggested between four and six townhouses could be secured subject to council approval.
Property has regularly been sold at a loss across the Gold Coast since the delayed onset of the global financial crisis to the popular Queensland strip, which has been among the most affected of Australia's lifestyle property markets.
About 33% of Gold Coast properties were sold last year for less that what was originally paid, according to the most recent statistics from RP Data with apartments in particular, rather than houses, selling still at a loss. By comparison, RP Data has less than 5% of properties resold at a loss in Sydney and Perth.
According to RP Data-Rismark’s Home Value Index, Gold Coast home values increased by 2.2% throughout 2013.
This was a composite of a 2.2% rise in house values, and a 0.1% fall in unit values. RP Data’s senior research analyst, ­Cameron Kusher, suggested house values on the Gold Coast are 14.1% lower than their previous peak, with units some 16.4% lower.
More than $570 million worth of units sold at Surfers Paradise in 2013, making it the top grossing region in Australia.
Colliers International’s Tony Holland recently suggested the Gold Coast was not purely about yield and capital growth – but about a lifestyle choice.
“You compensate the lack of yield with the lifestyle benefit,” he told the Australian Financial Review.
The Event 2014 will include the prestige auction offerings on January 30 at <a target="_blank" href="https://www.propertyobserver.com.au/news/geoffrey-edelsten-s-palazzo-versace-gold-coast-auction-halted-by-ohio-us-court-order/2014011867240">Palazzo Versace</a>.
news@propertyobserver.com.au
</body></html>

jchancellor-FAypfDUnLy

Gold Coast receivers' auction sale at 33% discount on property's prior sale

<html><body>
The Channel 7 series, My Kitchen Rules easily won the 2014 reality television blockbuster's debut up against The Block on Channel 9 last night.
The initial OzTam ratings had the MKR audience at 1.67 million.
The Block Fans v Faves didn't melt amid the heated opposition as it secured a very respectable 1.14 million opening night five capital city audience.
<a href="/news">It is set in Albert Park this year</a>, with four loft-style warehouse apartments being constructed in <a href="/news">an old silent picture theatre</a>. The contestants were wearing beanies - and it was raining - given the filming was commenced some months ago. 
There were 560,000 watching The Biggest Loser on Channel 10 which is set in <a href="/news">Ararat</a>.
Last year Seven had the most watched program of 2013 with the winner announcement of reality cooking show My Kitchen Rules averaging 3.27 million metro viewers, topping the auction winner announcement of Channel Nine’s The Block which averaged 3.16 million.
Last night's debut was the ninth season for The Block which began in 2003 at Bondi Beach. MKR is in its fifth season.
</body></html>

Cheesy, but MKR beats The Block loft renovation opening night ratings

<html><body>
Sydney's ultimate trophy apartment offering is set for a 2014 listing.
The whole 11th floor amalgamation in Sydney's 1 Macquarie Street Bennelong complex is tipped to be offered given the pending downsizing by the Maloney family.
<img alt="syndey_jan_24_one" src="/images/stories/2014/01/24/syndey_jan_24_one.jpg" width="470" height="353">
Photo: 1 Macquarie Street, Bennelong
Following the death of her publican husband, Cyril Maloney last August, his widow Margaret has recently spent $10 million or so on the tip of the Darling Point peninsula.
<a href="https://sydneysothebysrealty.com/3939451/101A-Yarranabbe-Road-Darling-Point" target="_blank">It's the harbourfront garden apartment in the O'Neil/Puntoriero Michael Sutto-designed block of four development.</a>
The north facing Darling Point, whole-floor, three bedroom, five bathroom apartment (pictured below) is no shoe box - as it covers 440 square metres of internal and external living space with access to heated pool, sauna, gym, gardens and a sandy beach.
{yoogallery src=[images/stories/2014/01/23/darl]}
But the redundant Bennelong apartment offering will come with 715 square metres of space. It apparently stretches 82 metres end to end.
<a href="https://www.smh.com.au/executive-style/room-with-a-view-yours-for-only-30m-20100312-q4eu" target="_blank">It was briefly up for sale in 2010</a> for about $30 million through estate agent Michael Pallier, who could be presumed to be in the running for the forthcoming listing.
The late Cyril Maloney shelled out $13.9 million in 1999 for all four apartments on the 11th floor in the Bennelong complex, set on Macquarie Street directly behind the Opera House.
Maloney created a penthouse with a cellar, billiard rooms and, needless to say, terrific views of Sydney Harbour. He also then added another above him on the 12th floor, but that's sans staircase.
The third-generation hotelier Cyril Maloney, born in 1919, in Henty, NSW left school at 14 to help the family after the Great Depression.
Maloney's beginnings as a hotelier began with his wartime savings kitty of £3,000 to buy the Railway Hotel in Orange.
Then came the Regent Hotel at Broadway in the Illawarra, the Wallerawang Hotel, the Freemasons Hotel in Broken Hill, the Railway Hotel in Parramatta, the Great Northern Hotel in Chatswood, the Shellharbour Hotel, the Olympic Hotel in Moore Park, the Bondi Astra, Cronulla's Cecil, the Hornsby Hotel, the Metropole Hotel in Cremorne and the Hampton Hotel in Kings Cross.
The jewel in the crown was the Hotel Bondi, which Maloney owned for four decades.
Owning more than one unit has been de rigueur in the Bennelong block - but to consolidate, not necessarily amalgamate the interiors.
Developer Jim Bosnjak had two adjoining fifth-floor, three-bedroom apartments.
The Moran family bought their third adjoining unit for a, then record, $16.8 million on the 12th floor in 2008.
One-time pie man Ian Allen, of Sargents Pies fame, did his amalgamation of two units on the 10th floor off the plan in 1999. Allen then bought three others as investments.
<a href="mailto:news@propertyobserver.com.au" target="_blank">news@propertyobserver.com.au</a>
</body></html>

11th floor Bennelong trophy apartment set to test the 2014 prestige market 

<html><body>
The bayside glamour couple, Carlton footballer Chris Judd and his wife, weather presenter Rebecca, have leased their four-floor Prahran townhouse abode given last year's sale marketing campaign didn't secure its desired $1.7 million buyer interest.
Their <a href="https://www.propertyobserver.com.au/news/second-baby-prospect-prompts-chris-judd-and-wife-rebecca-to-list-their-prahran-warehouse/2013101765771" target="_blank">second baby prompted the listing back in October</a>.
It's the warehouse conversion undertaken in 2006 by Michelle Forsyth of Ethereal Design with skylit staircase and a dumb waiter from top to bottom.
The townhouse, which overlooks park and rooftops, all within walking distance of Greville and Chapel streets, was up for $1,999 a week rental. The asking rental would reflect a gross 6% yield based on its unmet asking price. RP Data puts the <a href="/news">Prahran</a> rental typically at around 3.5% for houses and 3.7% for apartments, reflecting $575 weekly rental and $369 weekly rental for apartments.. 
Rebecca had Sara and Amy Chamberlain, from The Real Estate Stylist undertake the sales marketing campaign styling, but the property was leased unfurnished through came with optional extras and appliances.
The star midfielder bought it for $1.66 million in late 2007 after he moved from Perth on signing with Carlton. It had been listed with $1.95 million hopes by Michelle Forsyth, and Christian Janko, in late 2006.
Offers inexcess of $1.7 million were being sought last November through Paul Castran of Castran Gilbert. Its rental was through Castran Gilbert leasing agents Gabby Mercuri and Sarah Holder.
Paul Castran says the laneway is almost wall to wall stylish town residences.
"It delivers four levels of uber-chic contemporary living with a generous offering of space, light and luxury touches throughout," the Castran marketing says. It features a full-floor, dedicated entertaining precinct comprising an open plan living and dining zone with wood fireplace, Smeg kitchen and private terrace with cafe-style ceiling heating and BBQ.
Accommodation wise, the property provides a lavish top floor master suite complete with a gas fireplace, indulgent double vanity en suite, expansive robes and balcony with park views; as well as three additional bedrooms with robes and en suites. One bathroom has a freestanding bath that looks like a giant half eggshell. Its other features include a secure double garage, laundry, split-system air conditioning, slab heating, polished timber floors, monitored alarm, CCTV security and intercom.
There was a video <a href="https://www.propertyobserver.com.au/https://vimeo.com/82085186" target="_blank">starring Rebecca produced by Goldeneye Media</a> on the initial listing.
It was 2010 when Judd and his then model fiancee Rebecca Twigley bought their 671 square metre Brighton property for $2.125 million through Kay and Burton agent Justin Follett.
<a href="mailto:news@propertyobserver.com.au" target="_blank"> </a>
 
 
</body></html>

Chris and Rebecca Judd lease redundant Prahran home as $1,999 a week rental

<html><body>
Adman Scott Whybin and his wife, Cathy Hains have listed their redundant South Yarra home.
It comes with $7 million plus hopes.
The four bedroom <a href="https://www.realestateview.com.au/Real-Estate/49-murphy-street-south-yarra/Property-Details-buy-residential-6562121" target="_blank">Murphy Street Victorian family residence </a>is being marketed as one of very few two storey freestanding houses in the suburb.
Title Tattle recalls its 1996 auction when it fetched $1.49 million through Bennison Mackinnon which was $290,000 over the reserve price.
But it subsequently sold to the current vendors just two years later at $880,000.
For seven decades it had been the home of Sir Harry Chauvel, the commander-in-chief of the First Light Horse Brigade, and his family, who sold the property in the late 1970s for $148,000. 
He would ride the tan track in Domain every morning, except Sunday, with a horse brought up from Remount Depot near the army headquarters in Victoria Barracks until just before his 1945 death.
His guests through the years included artist Arthur Streeton and his Canadian violinist wife, Nora Clench.
The house was first renovated in 1981 under the direction of architect Wayne Gillespie.
Last year Whybin and Hains were the <a href="/news">buyers of the South Yarra home of the former VFL footballer Craig Stewart for $8.2 million</a> which sold through Andrew Baines of Kay &amp; Burton, who also has the latest listing.
Whybin is the founder of the advertising agency Whybin\TBWA and Hains runs the thoroughbred breeding operation, Burnewang North.
Stewart, who played 150 games with Collingwood and Richmond between 1978 to 1986, had paid around $2.2 million in 1997 with wife, Melissa.
<a href="mailto:news@propertyobserver.com.au" target="_blank">news@propertyobserver.com.au</a>
 
</body></html>

Adman Scott Whybin and Cathy Hains list redundant South Yarra mansion with $7 million plus hopes

<html><body>
Six split-level, atrium apartments above two restaurants in a converted Prahran office block is the next ambitious renovation proposal by the producers of hit Channel 9 television show The Block.
The production company, Watercress has spent $8.25 million on the 1980s office building near trendy Chapel Street opposite Swinburne University's Prahran campus.
The $2.5 million Brenchley Architects infill works schedule for <a target="_blank" href="https://www.commercialrealestate.com.au/property/2010600795/for-sale/vic/prahran/offices">the three-storey 3540-square-metre building</a> (pictured below) will be mostly internally. It's proposed to have a strong green influence through the embrace of the recycling of older building along to the provision of planter boxes on busy High Street.
<img height="286" width="470" src="/images/stories/2014/01/23/prahran_jan_23_one.jpg" alt="prahran_jan_23_one">
"There will be no significant increase in the scale of the building, rather facade changes to accommodate the new internal layout," the development application said.
The shop-top dwelling application proposes to convert the existing office building into a mixed use development, comprising six three-bedroom dwellings along with two roof terraces for two of the apartments, along with a pergola in the front setback.
Each apartment will have an 18 square metre terrace. There will be solar access into all apartments from skylights in the roof.
A total of 14 parking spaces will be provided to the dwellings at the rear of the ground floor with access from Percy Street.  
It ground-floor current office space is proposed as two food and drink premises totalling 254 square metres, the ARG Planning submission noted.
The 1,289-square-metre holding at 121-127 High Street Prahran had been listed for sale through Vinci Carbone Property. It had been occupied by communications technology company Vixtel.
The Watercress application, which comes with a culmulative $10.75 million outlay on purchase and renovation outlay, still awaits City of Stonnington planning approval.
RP Data puts the median <a target="_blank" href="/news">Prahran</a> apartment price at around $513,000, up around 10% over the past year. 
The next series The Block: Fans vs. Favourites begins next week with the <a target="_blank" href="/news">historic Dux House warehouse</a> renovation at 47 O'Grady Street in <a target="_blank" href="/news">Albert Park</a> which sold by interests associated with billionaire businessman Lloyd Williams last year for $5.9 million.
The Albert Park warehouse will come with a ground floor pool recreation area.
The first series of The Block in Bondi Beach back in 2003 came after the $1.95 million four block acquisition through the Channel 9 company. Such has been the success of the reality television renovation stress series that nowadays that doesn't even come close to the current day renovation costs.   
news@propertyobserver.com.au  
</body></html>

No pool, but $10.75 million The Block Prahran property plunge to outdo The Block Albert Park

<html><body>
The iconic Bowral tourism property, Milton Park has been sold, reputedly to Chinese property trust interests for around $20 million.
It last traded in 1998 when Aman Resorts supremo Adrian Zecha sold it to the Dobler family.
Milton Park, the Edwardian-style 1910 guesthouse in amazing gardens, has been internationally acclaimed. The Relais et Chateaux Group once accredited it as one of the top 50 country guesthouses in the world.
The sale of the <a href="https://www.milton-park.com.au/" target="_blank">Milton House country house hotel and spa </a>represents the beginning of another new era for the property, although it is understood the existing Dobler family management will continue.
The Hordern family, of retailing renown, established Milton Park near Bowral in 1910 as their large private pastoral holding.
The residence, built in the style of a Federation homestead, now has 60 deluxe suites and rooms on the 20 acre estate.
The Dobler's had operated the Kirkton Park Country House Hotel before their late 1990s acquisition.
No comment has been made by the Dobler family, and it is not known if there was any hotel broker, although local agent, Bill Carpenter from W. McI. Carpenter &amp; Associates at Bowral is understood to have been involved in the sale.
The sale price has been estimated at around $20 million. 
The Dobler family retain substantial neighbouring holdings. 
Rumours that the Dobler family might resurrect the original Greg Norman-designed golf course proposal for their neighbouring holding have swept the town.
It was 1990 when Greg Norman trashed his way through blackberry bushes at Milton Park  planning a golf course for then owners, the Land Equity Group, headed by Serge de Kantzow.
Norman and the managing director of Land Equity Group were riding the wave of Japanese money being splashed around Australia tourism. 
The Milton Park course was proposed to be very similar to Augusta National, the site of the US Masters, except the tall, towering pines.
The Milton Park estate, once judged the eighth best garden in the world, has its own microclimate.
 
 
</body></html>

Southern Highlands icon, Milton Park rumoured sale to Chinese property trust interests

<html><body>
The Nick Scali furniture retail family, not only emerged as the $7.5 million buyer of Bukutilla, the seven bedroom home on Snapperman Beach at Palm Beach late last year, but now has bought the adjacent holding.
Both properties, on Sydney's northern beaches peninsula, were bought from property developer Denis O'Neil who sold <a target="_blank" href="https://palmbeach.ljhooker.com.au/2P0F6Z">his Walter Barda-designed house on Iluka Road</a> (pictured above) mid-2013.
The adjoining caretaker's cottage and garage on 590 square metres had remained listed through LJ Hooker Palm Beach agents David Edwards and Peter Robinson.
It was October 2012 when the expanded trophy offering first hit the market and O'Neil, the keen yachtsman, offered the 1112 square metre holding with $14 million plus hopes for the pair.
That was $8 million plus for the large residence and more than $6 million for the adjacent block. ?The main house was bought in the name of Elliott Scali, the online project management at Nick Scali Furniture, the young son of Anthony and Donna Scali.
The recent smaller block purchase was snapped up at $4.43 million in the name of Nic Scali.
RP Data puts the suburb's median house price at <a target="_blank" href="/news">$2.15 million</a>, up 30% over the year, a reflection of the increased sales activity rather than any price fillip.  
news@propertyobserver.com.au
</body></html>

Second Palm Beach Scali family acquisition along Snapperman Beach

<html><body>
The penthouse in the landmark 1888 Biltmore, Albert Park building has been listed for sale by so-called Saatchi's of street art.
It has been listed by the edgy art collectors Sandra Powell and Andrew King.
It last sold at around $2.85 million in 2005 from the de Campo family who undertook the building's conversion from hotel premises.
It has majestic verandah archways and its interiors have 16 foot ceilings designed by architect Walter S. Law, who also designed Drummond Terrace and Medley Hall, Carlton.
One of the original streets of the 1855 Emerald Hill town plan, Bridport Street had developed slowly from the 1860s accompanied by the construction of the new railway cutting in 1857, but with a fillip with the new cable tram route in 1890.
The 40-room building was built in the free classical style as the Albert Park Coffee Palace, one of dozens of coffee palaces, part of the temperance movement, alcohol-free alternative to the public house.
The imposing four storey building with arcaded loggias became a private hotel in 1928. In the 1950s it was sold to the Royal Melbourne Hospital and used as a nurses' home, before reverting back to a private hotel in the mid-1960s.
It was refurbished and subdivided into 12 apartments in the mid-1990s.
It has majestic verandah archways and its interiors have 16 foot ceilings.
The four bedroom, three bathroom apartment comes with pool, spa and two basement carparks.
<a href="https://www.cayzer.com.au/?pagecall=property&amp;propertyId=2540835" target="_blank">Cayzer Real Estate Albert Park</a> agents Geoff Cayser and Michael Szulc have the listing.
Title Tattle recalls the historic block's previous highest sale was in 2009 when a renovated low whole floor apartment was sold for around $2.5 million through Marshall White.
Innes Wilox of the Australian Industry group was its buyer.
The building's last offering highlighted its popularity as the apartment had $935,000 expectations but sold at 2010 auction for $1,276,000. It was a 120 square metre three bedroom apartment.
<a href="mailto:news@propertyobserver.com.au" target="_blank"> </a>
 
</body></html>

Saatchis of street art list 1888 Biltmore, Albert Park penthouse

<html><body>
Sydney inner ring buyer searches evolved in 2013, with the BresicWhitney agency noticing their buying search for homes was across more suburbs.
They have studied their 2013 auction bidder registrations records to detect the pattern of change.
<img height="262" width="470" src="/images/stories/2014/01/22/insights_chart_jan_22_one.png" alt="insights_chart_jan_22_one">
Source: BresicWhitney
Around 80% of buyers took a wider multiple-suburb purchasing journey on their search to secure a home last year.
"In recent years the majority of searches would be limited to just one or two areas," its principals, Ivan Bresic and Shannon Whitney suggested.
They say Sydney’s 'City of Villages’ reputation was taking resonance.
"As these epicentres grow and spread, and as new hubs emerge, it will be interesting to see traditional habits and suburb boundaries blur further," they said.
The top five buyer patterns were:
<ol type="1">
<li class="ecxMsoNormal" style="line-height: 13.5pt;">
East / West buyers in Leichhardt, Camperdown, Newtown, Redfern and Surry Hills.
</li>
<li class="ecxMsoNormal" style="line-height: 13.5pt;">
The Darlinghurst, Surry Hills, Redfern search.
</li>
<li class="ecxMsoNormal" style="line-height: 13.5pt;">
From Leichhardt to Drummoyne, Balmain and Rozelle.
</li>
<li class="ecxMsoNormal" style="line-height: 13.5pt;">
Pyrmont, Glebe, Newtown across to Balmain.
</li>
<li class="ecxMsoNormal" style="line-height: 13.5pt;">
Darlinghurst and Paddington buyers stretching to Bondi.
</li>
</ol>
It’s interesting to note the common traits - and differences - that characterise the suburbs within each search which does span council precincts.
From a marketing aspect, the City of Sydney is made up of <a target="_blank" href="https://www.cityofsydney.nsw.gov.au/learn/about-sydney/our-villages">10 village groups </a>under the Clover Moore initiative:
CBD and Harbour; Chinatown and CBD; South Crown and Baptist Streets; Glebe Point Road; Green Square and City South; Harris Street; King Street; Macleay Street and Woolloomooloo; Oxford Street; Redfern Street.
"Each is unique and dynamic in its own right with its own set of social, economic and environmental characteristics," the council website suggests.
While the BresicWhitney research credits the wider pattern of buying interest to buyer choice, it would also be realistic to think it was also due to shifting price accessibility. 
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
</body></html>

BresicWhitney analysis shows buyers making wider searches across inner Sydney villages

<a href="https://www.apartments.com.au/developers/freecity">Freecity</a> has received development approval for its 51-storey mixed-use tower at 153-157 Walker Street, North Sydney, set to be one of the tallest mixed-use residential-led buildings in one of Sydney’s most sought-after commercial and residential addresses.

Lodged as a State Significant Development Application (SSDA) through the Housing Delivery Authority (HDA) pathway and approved by the NSW Department of Planning, Housing and Infrastructure following a comprehensive public exhibition and submissions process, <a href="https://www.apartments.com.au/new-apartments/153-walker-street-north-sydney-nsw-2060">the project</a> will deliver 296 apartments, alongside a 170-room, luxury hotel, activated retail and significant public domain improvements.

Situated just 200 metres from Victoria Cross Metro Station, on one of the largest developable sites in North Sydney, the development will rise to 234 metres, making it one of the tallest buildings in the suburb. With an end value of approximately $1.5 billion, the project responds directly to the NSW Government’s mandate to accelerate housing delivery in well-located, transit-connected areas.

<img alt="Freecity gets green light for mixed-use residential and hotel tower in North Sydney" data-entity-type="file" data-entity-uuid="192ec455-94bf-4e01-83ef-922b1b269d67" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Freecity%20-%20Walker%20Street%20North%20Sydney%201%20RESIZED%20.jpg?VersionId=Bzqp0SBHCDvLAHjA4QXkjuGoOEIh73Jl" />

The apartment mix will cater to a broad range of buyers, with 65 studio and one-bedroom apartments, 139 two-bedroom residences, 35 three-bedroom apartments, 48 four-bedroom homes, and nine penthouses. Residents will have access to a dedicated amenity level on Level 33, featuring a swimming pool with views towards the Harbour Bridge, Sydney Opera House and North Sydney CBD, as well as a gym, library, shared kitchen, lounge and outdoor entertaining areas.

The hotel will occupy the lower six levels of the building and include meeting and function spaces, a wellness centre with gym, yoga studio, swimming pool and sauna, further strengthening North Sydney's growing hospitality offering.

At ground level, the development has been designed to improve pedestrian connections through the precinct. More than 700 sqm of retail space will activate the street frontage, while a landscaped through-site link connecting Walker Street, Little Walker Street and Doris Fitton Park will provide new public open space with seating, paving and extensive native landscaping.

Freecity Group Co-Founder and Joint CEO Tony Sun said the project represents one of the most significant development opportunities currently available in North Sydney.

"This is one of the most significant development sites in North Sydney and it comes at a pivotal moment for the precinct," Sun said.

"North Sydney is undergoing a genuine transformation, and this project will contribute housing the city urgently needs while creating a landmark destination."

Executive Director of Development Michael Romano said demand for both residential and hotel accommodation would continue to strengthen as the Metro precinct matures.

"The structural demand for high-quality housing and hotel accommodation in North Sydney is compelling, and will only grow as the precinct continues to evolve around the new Metro station," Romano said.

Architectus has designed the tower, orientating the apartments to maximise views towards Sydney Harbour while introducing a sculpted façade intended to respond to light, wind and the surrounding skyline.

Architectus Principal Marko Damic said the design sought to create a tower that contributes to the public realm as much as the skyline.

"We wanted to design a tower that doesn't just sit in the skyline but actively participates and contributes to city life," Damic said.

Joel Robinson

First look: Freecity gets green light for mixed-use apartment and hotel tower in North Sydney

<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]

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]

Jonathan Chancellor

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News