<html><body>
Sydney entrepreneur Drew Muirhead is now selling his unsold five-bedroom Cottage Point waterfront on Sydney's Pittwater in one line, as plans to secure 12 takers each with a share, didn't get anywhere.
It had been given a nominal $7.8 million value on its 2012 marketing with each portion listed in $650,000 part ownership shares.
Fractional ownership is a model used in the US and Europe.
The expectations are now around $4 million.
<img alt="cottagemarch1one" height="317" width="470" src="/images/stories/2013/03/cottagemarch1one.jpg">
It wasn't for want of space as its possibly the biggest house within one of Sydney's smallest suburbs, Cottage Point, complete with infinity-edge pool, spa, jetty and pontoon.
Designed by architect Richard Cole, it has water views from every room with its pitched ceiling expanding the view to include the bushland behind.
<img alt="cottagemarch1two" height="313" width="470" src="/images/stories/2013/03/cottagemarch1two.jpg">
The five-bedroom home, featured on Grand Designs Australia in 2010, has been rented out for $20,000 a week in the peak season.
<a href="https://rwdbgroup.com/nsw/cottage-point/884214/" target="_blank">Its now listed for March 28 auction through Ray White Double Bay agents Michael Finger and Doreen Wilson</a>.
The top <a href="/news">Cottage Point</a> sale was $6.45 million in 2008.
Muirhead was offering the property under a co-ownership agreement drawn up by PodProperty chief executive Jeremy Levitt, who says the method has become more popular especially for holiday homes.
It was intended the co-owners would have a deeded share of the title of the bricks and mortar and could use their share for their own holiday stay, or rent out their time.
</body></html>

jchancellor-FAypfDUnLy

No sharing so Notting Lane, Cottage Point set for March 28 auction

<html><body>
There's three serious highrises now competing for buyers in Melbourne.
None are struggling for attention as they are all the highest in their own right.
It follows the late 2012 go-ahead for CEL Australia’s $170 million Tower Melbourne which will boast 555 apartments (and townhouses) across 71 storeys.
The 220-metre tower will be the tallest residential building in the central business district, though not the tallest in Melbourne.
The proposed plan for the corner of Bourke and Queen streets has an an expected completion date in 2016. 
The Tower Melbourne skyscraper (pictured below) has been designed by local architects at Elenberg Fraser and features thin, undulating glass construction. The building is set to be just shorter than the iconic blue glass Rialto Tower, which rises to 250 metres at the Southern Cross station end of Collins Steet.
<img src="/images/stories/2013/03/towermelbournemarch1.jpg" width="470" height="460" alt="towermelbournemarch1">
Architect Callum Fraser from Elenberg Fraser describes Tower Melbourne as “a city-defining project” in a marketing video.
Already Tower Melbourne has been heavily marketed to “cashed-up Chinese investors”, who consider Melbourne a safe place to park new-found wealth.
The developer CEL Australia, a subsidiary of Singapore-based Chip Eng Seng Corporation Ltd, is using real estate agents with networks in the Chinese investor market.
Sunny Lu from Professionals City told The Age her customers in China viewed super-high-rise buildings as prestigious.
Property Observer reported on the Tower Melbourne project back in October last year, when Melbourne lord mayor Robert Doyle called the Singaporean developer “a bit cheeky” after it began marketing before the project was approved.
Doyle, labeling it “too big”, opposes highrise for the sake of high rise records.
The lord mayor was back in the news this week labelling the ambitious Australia 108, the touted tallest highrise in the southern hemisphere, as too high.
Raising concerns it could overshadow the Shrine of Remembrance, Cr Doyle, a Shrine trustee, said the mooted 108-storey Southbank apartment and hotel tower exceeded the city council's height limits. The council's Future Melbourne committee is to consider a report on Australia 108 next Tuesday.
Architects Fender Katsalidis, who designed the nearby Eureka Tower, are behind the Australia 108 project, which would be the world's 18th tallest building at 70 Southbank Boulevard.
On its November unveiling, Property Observer noted its had <a href="https://www.propertyobserver.com.au/victoria/australia-108-has-a-few-hurdles-to-overcome-before-its-the-southern-hemisphere-s-highest/2012111157754" target="_blank">a few hurdles to overcome </a>before fruition.
It's scheduled for mooted late 2015 completion and it doesn't actually have planning approval, but the developers of the Australia 108 tower (picture below) in Melbourne's Southbank precinct are inviting buyer registrations at $1,000 a pop. Prices are already been released starting at $425,000 for one-bedroom apartments and from $575,000 for two-bedroom apartments. Its three bedrooms are priced from $775,000.
<img alt="australia108march1" height="478" width="470" src="/images/stories/2013/03/australia108march1.jpg">
<a href="https://australia108.com.au/" rel="nofollow" target="_blank">The 108-storey project</a> will be 388-metre skyscraper high above Melbourne's Yarra River.
At the northern end of town, the developer Brady Group is currently marketing its proposed 226-metre tower at 500 Elizabeth Street, near Queen Victoria Market.
The proposed 72-level tower gained approval for its current design in April last year. 
Marketing for the 524-apartment complex is in full swing, with advertisements being placed online and at the site. Prices for apartments ranged from $381,000 to $3 million. Vision (pictured below) has mostly three-bedroom apartments and penthouses with only a small number of one-bedroom apartments.
<img alt="visionmarch1" height="940" width="470" src="/images/stories/2013/03/visionmarch1.jpg">
The Eureka Tower in Southbank is Melbourne’s tallest tower, rising to 297 metres.
“When Tower Melbourne is completed it will be just one of 12 buildings above 200 metres in the central Melbourne area. Thus any suggestion of it being too tall is somewhat perplexing,” suggested minister Matthew Guy earlier this year.
For more on the allure of Australian property to Asian buyers, <a href="http://propertyobserver.com.au/ebooks/free-ebook-australias-allure-for-asian-residential-property-investment" target="_blank">download our free eBook. </a>The eBook is also available for<a href="http://propertyobserver.com.au/ebooks/australias-allure-for-asian-residential-property-investment-free-ebook" target="_blank"> free download in Chinese.</a>
</body></html>

Melbourne CBD’s tallest residential tower crown tussle

<html><body>
<div class="description">
<div class="desc-content">
Finance industry executive Paul Fegan and his wife, Leonie, have sold their hillside Mosman residence a year after its initial listing.
Its settlement last month revealed its $8.3 million sale price, reflecting a 22% price decline.
The Alex Popov-designed Burran Avenue house last traded at $10.75 million in late 2007 when he was the St George chief executive.
<img src="/images/stories/2013/03/mosmanmarch1one.jpg" width="470" height="310" alt="mosmanmarch1one">
Fegan, who was briefly Telstra's executive in charge of strategy and corporate services, is now ted.
Expectations were around<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/former-st-george-boss-lists-alex-popov-designed-mosman-house/2012022753586"> the $10 million on its initial McGrath listing </a>of the 1,130 square metre matrimonial property with a 20-metre pool.
<div>
Mortgage insurer Genworth appointed the former St George Bank chief executive Paul Fegan as its chief financial officer earlier this year.
</div>
Fegan had joined St George Bank in 2002 and was appointed chief in 2007 until Westpac took over St George in 2009.
<div style="float: left; margin-left: 20px;">
<ul type="disc"></ul>
</div>
<div class="clear"></div>
</div>
</div>

<div class="clear"></div>
<div style="float: left; margin-left: 20px;">
<ul type="disc"></ul>
</div>
</body></html>

Mosman prestige house cops 22% price decline

<html><body>
The Lowy family has sold its 7% stake in Westfield Retail Trust worth $664 million as part of a strategy to diversify its investments globally.
Investment bank UBS sought buyers for 214.8 million Westfield Retail Trust units on behalf of Frank Lowy’s investment company, The Lowy Family Group.
The units in the shopping ­centre landlord were being offered at $3.09 each Thursday afternoon, a narrow 2.8% discount to Westfield Retail Trust’s $3.18 closing price.
As the largest shareholder in the Westfield Group, the Lowy family stressed its continuing commitment remained unchanged in the Westfield Group.
Westfield Group created WRT in 2010 with a stake in 47 Australian and New Zealand Westfield shopping centres  now worth around $13.5 billion.
The Lowy family statement said the sale was part of a "broader investment strategy to diversify its investments internationally.”
"As the largest shareholder in the Westfield Group, the Lowy family’s interest and continuing commitment remains unchanged.
"Through WDC, LFG retains a significant investment in Westfield’s superior shopping centre portfolio in Australia and New Zealand.”
The sale comes a day after its results.
</body></html>

Lowy family secures Westfield Retail Trust buyers

<html><body>
The Housing Industry Association new home sales report, a survey of Australia's largest volume builders, shows seasonally adjusted new home sales increased by 4.2% in January 2013.
It reflected a 4% increase in detached house sales and a 4.9% boost in multi-unit sales.
"It is a promising update to see the momentum of late 2012 carrying into the new year," said HIA chief economist, Harley Dale.
"Over the three months to January this year new home sales increased by 10%, although sales volumes were still 6.4% lower compared to the same period a year earlier."
"Sales of new detached houses have now increased over three consecutive months, a crucial improvement given the considerable weakness experienced through the majority of last year," said Harley Dale.
"Even now, the volume of detached house sales is not much more than half the long term average. Consequently there is a long way to go to see evidence that new home building will reach the levels the economy requires as the contribution from resources-related investment wanes."
In the month of January 2013 detached house sales increased by 9.1% in Victoria, 10.6% in South Australia, and 7.4% in Western Australia.
Sales fell by 1.3% in New South Wales and were down by 6% in Queensland.
Over the three months to January 2013 detached house sales increased by 23.7 % in New South Wales, 10.8% in Victoria, 13.2% in South Australia, and 7.6% in Western Australia.
Detached house sales fell by 3.1% over this three month period in Queensland.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2013/02/hiafeb28.gif"><img src="/images/stories/2013/02/hiafeb28thumb.gif"></a>
</body></html>

New home sales post fourth consecutive rise in January: HIA

<html><body>
<div>
The Melbourne Lord Mayor Robert Doyle has concerns Australia 108, the touted tallest highrise in the southern hemisphere, could overshadow the Shrine of Remembrance. 
</div>

Cr Doyle, a Shrine trustee, said the mooted 108-storey Southbank apartment and hotel tower exceeded the city council's height limits. The council's Future Melbourne committee is to consider a report on Australia 108 next Tuesday.
<img height="421" width="316" src="/images/stories/2012/11/australia108.jpg" alt="australia108">
"There are a couple of things that are sacrosanct - one is the Shrine and the other is the Yarra - and there are rules in the planning scheme to prevent that sort of overshadowing," Cr Doyle told The Herald Sun.
"If something is getting that big that it's overshadowing the Shrine, you'd really have to say, 'What are we gaining through that height?' "
Architects Fender Katsalidis, who designed the nearby Eureka Tower, are behind the Australia 108 project, which would be the world's 18th tallest building at 70 Southbank Boulevard.
On its November unveiling, Property Observer noted its had <a target="_blank" href="https://www.propertyobserver.com.au/victoria/australia-108-has-a-few-hurdles-to-overcome-before-its-the-southern-hemisphere-s-highest/2012111157754">a few hurdles to overcome </a>before fruition.
<img height="306" width="470" src="/images/stories/2012/11/australia1083.jpg" alt="australia1083">
But today's report has the Shrine CEO Denis Baguley saying he has no concerns after the Planning Department provided images of shadows moving across the city on Anzac Day and at the winter solstice.
"From my observation, I don't believe there are issues of overshadowing that will concern us," he told the Herald Sun.
"In our view, the effect is minimal - no more than (from) existing buildings and our own trees, and (it's) only late in the day, when there are no services," he said.
"I'll be advising my trustees of that."
<img height="324" width="470" src="/images/stories/2012/11/australia1082.jpg" alt="australia1082">
Planning Minister Matthew Guy, who has final approval, has previously been positive about the tower, saying that it underlined a confidence in Melbourne and showed that Australia was "coming of age".
But Cr Doyle said: "It's no good just saying that height equals landmark. Some of the finest buildings in the world, some of the finest architectural solutions, are not great big towers."
<img height="264" width="470" src="/images/stories/2012/11/australia1081.jpg" alt="australia1081">
The Victorian planning minister Matthew Guy, who has final approval, has previously been positive about the tower, suggesting the proposal underlined a confidence in Melbourne and showed that Australia was "coming of age".
But Cr Doyle told the Herald Sun: "It's no good just saying that height equals landmark. Some of the finest buildings in the world, some of the finest architectural solutions, are not great big towers."
</body></html>

Shrine of Remembrance overshadowing concerns arise from Australia 108 tower proposal

<html><body>
Lend Lease has confirmed it intends to sell its aged care business for $270 million to Australian Aged Care Partners, which is controlled by funds managed by Archer Capital.
Archer Capital Partner executive Ben Frewin said it had been evaluating investment opportunities in the aged care sector over the past three years.
Lend Lease will receive cash proceeds of $200 million plus a $70 million promissory note by the end of March this year.
Lend Lease’s aged care business owns and manages 30 aged care facilities with 2,338 beds under management across New South Wales, Victoria, Queensland and South Australia.
There is also a development pipeline of 563 additional beds.
The business was acquired in the Primelife acquisition in 2009.
The Lend Lease chief executive officer Steve McCann said the aged care business was more closely aligned to healthcare services than property and was considered non-core for Lend Lease.
Australian Aged Care Partners will retain the current management team and all employees at each of the facilities.
David Armstrong will be appointed to the position of chief executive officer. David Armstrong is formerly the managing director and a founder of DCA Aged Care.
Suzanne Petterson, general manager of Lend Lease Aged Care’s operations, will be appointed to the position of chief operating officer.
 
</body></html>

Lend Lease sells its aged care business to Archer Capital for $270 million

<html><body>
Australia’s largest liquor retailer, Woolworths, is considering buying the collapsed Barossa Valley Estates winery, but faces likely competition from China’s COFCO.
The Australian Financial Review has reported the move is likely to anger grape growers fearful of the retail chain’s growing market power.
The report also suggests the direct ownership of wineries could trigger the interest of the Australian Competition and Consumer Commission, which is already investigating alleged abuses of market power by Woolworths.
Wine industry sources told The AFR that Woolworths – which has BWS and ­Woolworths Liquor – attempted to buy Barossa Valley Estate at Marananga for $13 million before receivers were appointed in January.
Barossa Valley Estate has a 41-hectare vineyard and processing facilities capable of crushing up to 4,000 tonnes of grapes.
<img src="/images/stories/2013/02/barossafeb28one.jpg" width="470" height="305" alt="barossafeb28one">
Owned by grape growers and investors, <a target="_blank" href="https://www.bve.com.au/about-us/bve-history/">the current members of the 80 grower co-operative company</a> was unable to secure fresh finance after breaching debt covenants last year, with receivers McGrathNicol currently seeking offers for the property.
Woolworths owns the direct liquor marketer Cellarmasters, which owns Dorrien Estates which makes small batches of wine labels sold directly through Cellarmasters.
Barossa Valley Estate currently acts as an overflow facility for the Dorrien winery business.
Wine industry sources told The AFR China’s COFCO officials have plans to release an Australian version of its Chinese wine label Great Wall and visited the Barossa Valley about a month ago.
</body></html>

Woolies pursues in-house wine production prospects in the Barossa Valley

<html><body>
The film producer turned passionate property developer Rebel Penfold-Russell has listed six prestige apartments in her North Bondi development, Coast.
The six near-beachfront apartments each come with $5.5 million plus asking prices - and there's a video uploaded to <a href="https://www.youtube.com/watch?v=ALUQkmvYjdE" target="_blank">youtube</a> on the construction of the Ramsgate Avenue project with music by her son, Emrys Quin.
Coast, on the Ben Buckler North Bondi headland, has been recently completed, the first new apartment project in 40 years on the iconic Ben Buckler Bondi Headland.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/02/bondifeb28one.jpg" alt="bondifeb28one" width="470" height="257">
It comes with three-bedroom-plus apartments over four levels to a SJB Architects design. One Bondi Beach regular who witnessed the construction stage from "pull? down slum block to giant hole in the ground to the building phoenix rising" says it is a wonderful building that "salutes Bondi's vision."
''Bondi's buildings all used to be salt-encrusted, rundown old buildings with broken wiring and concrete cancer, with very few good restaurants around,'' Penfold-Russell told Fairfax Media.
''But it's smartening up, not in a pompous exclusive way, but it now has a lot more good property, great retail and fabulous restaurants.
''Bondi is so vibrant and vital, it's exuberant with a youthful feel, it's magnificent.
''There's everything you want to eat there as well as drink, and there's great retail in lovely little enclaves," she said.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/02/bondifeb28two.jpg" alt="bondifeb28two" width="470" height="255">
The block cost $6.05 million in 2007 inaddition to the initial holding that cost $3.85 million in 2004.
Davis Langdon prepared a 2010 cost estimate which concluded at a total capital investment value of $10,502,989 summarised as follows:
Demolition &amp; Hazardous Materials removal $137,687
Site Preparation (incl Bulk Excavation) $73,510
Site Services $80,000
New Construction $6,097,582
External Works $189,223
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/02/bondifeb28four.jpg" alt="bondifeb28four" width="470" height="256">
Roadworks Excluded
Design Contingency $391,391
Preliminaries &amp; Supervision $1,249,820
Sub-total – Construction Works $8,219,213
Statutory Fees Excluded
Design &amp; Management Fees $650,000
Development Management Fees $150,000
Construction Contingency $391,391
Escalation (to completion – say end 2013) $792,385
Selling &amp; Marketing Costs $300,000
Finance Costs Excluded
Sub-total – Applicable Development Costs $2,283,776
TOTAL ESTIMATED CIV $10,502,989
Its been a <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/rent/apartment-north-bondi-nsw-2026/16625" target="_blank">rental investment in recent years </a>through McGrath who will also be its upcoming sales marketing agents.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/02/bondifeb28five.jpg" alt="bondifeb28five" width="470" height="256">
The project included the now demolished 160 Ramsgate Avenue, a two storey building containing eight units, with no on-site parking provisions, and on the northern side, 158 Ramsgate Avenue where there was a two and three storey building containing five units and parking for three cars.
The filmmaker, who lived in Double Bay as a teenager, then Potts Point has made her permanent family home at North Bondi since the late 1980s. She'd bought an apartment at Bondi Beach while studying at NIDA in the 1970s for about $52,000.
Property Observer was there at the 1988 auction when the interior decorator Ann Gyngell and advertising executive Jamie Packer, as he was then known, accepted a $1.51 million offer at the W.J.Bridges auction of their Ramsgate Avenue, Bondi Beach, spec investment property which is now a contemporary abode.
The vendors were family friends - her husband Bruce Gyngell and his father, media tycoon Kerry Packer kicked off television in Australia - who had bought it for$1.15 million less than a year prior to the August 1988 auction.
Theo Onisforou and Richard Eskell dropped out of the auction bidding, and the battle emerged between the Double Bay newsagent Allan Stevens and Penfold-Russell, who was represented by Goodhope Realty's John McGrath.
As the price moved to 1988 boom levels, Jamie celebrated with a few chocolate biscuits laid on by the estate agency.
Penfold-Russell triumphed on the day, and has been a passionate advocate for Bondi ever since.
</body></html>

Film producer turned developer Rebel Penfold-Russell selling six North Bondi apartments for $5.5 million-plus each

<html><body>
It was 2002 when crooner Billy Field sold his Paradise recording studio at Woolloomooloo for $1.15 million.
It was where recording artists including Richard Clapton, INXS, Air Supply, Icehouse, Men At Work, Dragon, Midnight Oil and The Divinyls recorded their hit songs.
It has long been without its studio, with the 450-square-metre, double-storey space being a commercial warehouse residence with office.
<img alt="paradisefeb28one" src="/images/stories/2013/02/paradisefeb28one.jpg" width="470" height="351">
In 2002 the four-bedroom, three-bathroom space was sold for $1.15 million to businessman David Peters, whose wife Malinda Rutter had envisaged she might run her former children's talent agency Polka Dotts from the Judge Street premises.
<img alt="paradisefeb28two" src="/images/stories/2013/02/paradisefeb28two.jpg" width="470" height="351">
They sold for $1.2 million in 2004.
It sold again for $1.7 million in 2007.
<a href="https://www.realestate.com.au/property-house-nsw-woolloomooloo-113018739" target="_blank">About $2.7 million was sought when initially listed last September</a> through Belle Property Randwick agent Rick Nolasco, but more recently listed through BresicWhitney Estate Agents Darlinghurst.
</body></html>

Crooner Billy Field's former Paradise, Woolloomooloo recording studio sold again

ASX-listed developer <a href="https://www.apartments.com.au/developers/stockland">Stockland</a>&nbsp;is continuing its push back into the new apartment market, filing plans for a prominent gateway site between Collingwood and East Melbourne.

The development giant, which moved back into the new apartment space when it announced Stanton Place in Sydney's Rosebery and have since filed plans for a 50-storey tower, are jumping into the off the plan Melbourne market.

They are hoping to create a mixed-use neighbourhood precinct for <a href="https://www.apartments.com.au/new-apartments/79-81-victoria-parade-collingwood-vic-3066">79-81 Victoria Parade</a>, replacing an existing commercial building with a scheme by <a href="https://www.apartments.com.au/architects/john-wardle-architects">Wardle</a>&nbsp;for 478 apartments,&nbsp;ground-floor retail, new public open spaces and a publicly accessible pedestrian laneway.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="72dbbca9-3918-4073-afad-a0c0c35be8e7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20pers.png?VersionId=bzMVUKKxvwuNK1m0v_td126Rgct32uk_" />

The design report identifies the public realm as a central driver of the proposal.

"Collingwood has limited access to high-quality parks and public open space, and the proposal delivers valuable new areas for respite, social interaction and fine-grain retail activity."

The development would deliver a diverse mix of housing, including studio, one, two and three-bedroom apartments alongside townhouse-style residences. Two basement levels are proposed beneath the development, providing resident and retail parking as well as extensive bicycle facilities.

Wardle's design draws heavily on Collingwood's industrial character, using articulated building forms, brickwork and robust materials inspired by the suburb's warehouse and manufacturing heritage. The built form has been broken into a series of smaller volumes to better respond to the surrounding streetscape while extensive communal gardens, rooftop amenities and shared resident spaces are integrated throughout the project.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="7b2135ed-65df-4253-ad53-f216f06bd467" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20podium.png?VersionId=l1B6Hqn8zs772VxH6L1fDPg0KHshan9v" />

The planning documents describe the existing office building as offering little engagement with the public realm, with the redevelopment intended to create a more permeable and active neighbourhood destination.

"The proposed scheme presents a significant opportunity to deliver a vibrant retail plaza and a local neighbourhood hub serving both existing and future Collingwood residents."

The 79–81 Victoria Parade site occupies a strategic location about 1.5 kilometres east of Melbourne's CBD, at the threshold between Collingwood and East Melbourne. It is well served by tram services along Victoria Parade and sits within walking distance of St Vincent's Hospital, Fitzroy Gardens, the Fitzroy activity centre and a broad range of employment, retail and hospitality destinations.

Joel Robinson

Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site

An 1880s timber cottage that has survived Kangaroo Point's transformation from riverside suburb to high-density apartment precinct is set to become the centrepiece of <a href="https://www.apartments.com.au/developers/zephyr">Zephyr Group</a>'s proposed Banksia development.

Rather than see the locally heritage-listed Alpha Cottage as an obstacle to navigate, plans integrate the landmark home into a new 18-storey residential tower, giving one of the suburb's oldest surviving residences a new role as the project's communal hub.

The development application covers a 1,177 sqm amalgamated site at 127-133 Lambert Street and 30 Shafston Avenue, where Zephyr Group plans to deliver 64 apartments above three basement levels. Designed by <a href="https://www.apartments.com.au/architects/joe-adsett-architects">Joe Adsett Architects</a>, the proposal carefully weaves the retained heritage cottage into a contemporary residential scheme, with the tower elevated above the historic building to preserve its presence within the Lambert Street streetscape.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="f9dc5bdb-d691-4c60-bf2b-c3ed405a3e75" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Banksia.png?VersionId=Jh4bjlewU.o8HXWt0V4KaFA_lPcF7KWM" />

Named after the native Australian Banksia flower, the project draws inspiration from its distinctive form through curved balconies, sculpted planter boxes and cascading subtropical landscaping that soften the building's profile.

As the design report explains: "The tower's identity is defined by its feature facade, drawing direct inspiration from the Banksia wildflower. The building departs from traditional rigidity through the use of elegant, GRC-moulded planter boxes that appear as if shaped by the breeze."

Plans propose 64 apartments, comprising 32 two-bedroom and 32 three-bedroom residences, across an 18-storey tower. Residents would have access to rooftop amenities including a swimming pool, spa, gym, sauna, private cinema, dining spaces and landscaped recreation areas, while more than half the site is dedicated to planting and open space.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="16041b5f-033e-47fa-8fbe-9886e072c1f2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pool.png?VersionId=kpx5w4EbLx0_TdWfDoD1vrSs0_cZ5Ao1" />

The heritage component is the defining feature of the proposal. Constructed in the early 1880s and occupied from at least 1883, Alpha Cottage is recognised by Brisbane City Council as an important surviving example of Kangaroo Point's nineteenth-century residential development and as a representative transverse-gable timber cottage. Despite extensive redevelopment across the peninsula, the building has retained a high degree of its original form and internal fabric.

As part of the redevelopment, the cottage will be carefully relocated a short distance within its original allotment to facilitate construction before being returned to a prominent position along Lambert Street. Original verandah elements will be dismantled, catalogued and reinstated, while significant internal features, including timber flooring, wall linings, joinery, doors, windows and hardware, will be retained. Later additions, including the enclosed rear verandah, will be removed to better reveal the building's original form.

Once restored, Alpha Cottage will accommodate the building manager's office, mail room and parcel facilities, providing an active everyday use that supports its long-term conservation rather than preserving it as a static display. The heritage strategy also maintains landscaped space around the building, allowing it to remain visually distinct beneath the new tower.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="43b027e1-576e-4624-a66c-7cc54ea8b7be" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/banksia%20tower.png?VersionId=2W6E2yfkj2AQlWlLeV986grA5zB9f817" />

The Heritage Impact Assessment concludes that "the proposal secures the ongoing occupation, maintenance and conservation of Alpha Cottage," finding the development would result in "no more than a minor impact on the cultural heritage significance" of the building while ensuring its long-term future.

Joe Adsett Architects have designed the tower to sit above the heritage building rather than overwhelm it, creating a clear visual separation between old and new. The development's flowing balconies, integrated planting and organic façade respond to Brisbane's subtropical climate while complementing the restored cottage below.

Banksia occupies a prominent corner in Kangaroo Point within walking distance of the Kangaroo Point Bridge, Brisbane River, ferry services, QUT, the CBD and the Woolloongabba precinct. The site also benefits from direct access to active transport infrastructure and sits within an area earmarked for continued higher-density residential growth.

Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage

Buying into a masterplanned community often means committing to a vision still years from taking shape. At <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>, that vision is already visible.

Residents have moved into the completed first stage, landscaped spaces are established, and the next chapter is now underway. Stage 1 has been completed and settled, with Stage 2 now selling off-the-plan.

Designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a>, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> combines attainable apartment living with sustainability initiatives rarely seen at this price point, including rooftop solar, battery storage and a resident EV-sharing program.

<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/6RNt3AvtBpI?si=JUhuCV2ZRXsYaoJZ" title="YouTube video player" width="560"></iframe>

Located on Schofi​elds Road, just moments from Tal​lawong Metro Station and Schof​ields Train Station, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been designed to appeal to a broad mix of buyers, from first-home purchasers looking for a foothold in Sy​dney's property market to downsizers seeking a connected, low-maintenance lifestyle.

<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been conceived as a thoughtfully planned masterplanned community that will evolve over multiple stages, with buyers now able to secure one, two and three-bedroom apartments within a neighbourhood that is already beginning to establish its identity.

One of the project's defining features is its focus on sustainability. Solar energy systems, battery storage and future EV charging infrastructure have been incorporated throughout the development, reflecting a long-term approach to both environmental performance and everyday convenience.

Sustainability sits at the centre of the development's vision, with solar energy systems, battery storage and future EV charging infrastructure integrated throughout the community.

That emphasis on future-ready living extends beyond the technology. Landscaped communal gardens, outdoor gathering spaces and plans for a future retail precinct aim to create a neighbourhood where residents can access daily conveniences without travelling far from home.

[smartcode_project:default project_id=149637 project_image_fid=351027]

The apartments themselves have been designed with liveability front of mind. Rather than chasing maximum density, the focus has been placed on creating practical homes with generous natural light, usable layouts and strong connections to outdoor space.

Importantly, these design principles have been applied consistently across the one, two and three-bedroom apartment offerings.

The appeal of <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> is also closely linked to its location within Syd​ney's rapidly evolving north-west growth corridor. Over the past decade, major infrastructure investment has transformed the area, with new transport links, business precincts and community facilities reshaping suburbs like Talla​wong and Schofiel​ds.

The agent says buyers are increasingly recognising the area's long-term potential.

"Typical buyers that we're finding across <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> especially are your first-home buyers, your investors, your upsizers as well as your downsizers," Hawes says.

Connectivity remains one of the project's strongest drawcards. Residents have access to both Tallaw​ong Metro Station and Schofi​elds Train Station, providing links to the Sydn​ey CBD, Norw​est Business Park, Macquari​e Park and other major employment hubs. Retail centres including Rous​e Hill Town Centre and Sch​ofields Village are also nearby, alongside schools, parks and future healthcare infrastructure.

[smartcode_project:default project_id=149637 project_image_fid=351031]

For Stage 1 resident Roji, it is the balance between convenience and comfort that has defined the experience of living at Kew.

"For me, it's a balance of quality and convenience," she says. "Everything I need is right here."

"If I wanted to catch the train, Scho​fields Station is just around the corner. Tallaw​ong Metro connects me to the city."

More importantly, she says, the development has delivered something that cannot be measured in floorplans or specifications.

"<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> feels like home."

[smartcode_project:default project_id=149637 project_image_fid=351024]

As Stage 2 enters the market, that lived experience may be one of the project's strongest selling points. Buyers are not purchasing into an untested concept or a future promise. They are joining a community that is already taking shape.

Ongoing investment in transport, retail, healthcare and public open space continues to strengthen the appeal of Syd​ney's north-west growth corridor, while <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>'s established first stage provides buyers with a tangible sense of the community's future direction.

For a limited time, buyer can secure a new home at <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> with just a $10,000.

[smartcode_project_cta:default project_id=149637]

Kew Tallawong: A growing community taking shape in Sydney's north-west

<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.

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]

Jonathan Chancellor

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News