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<p class="p2">Recruitment boss <span class="s1">Phil Kerry</span> and his wife, 1984 Olympic Games gymnast <span class="s1">Anne-Maree,</span> have their next eastern suburbs renovation project.</p>
<p class="p2"><span>It follows their $6.25 million purchase of the Gant menswear store on Queen Street, Woollahra (pictured above), an 1870s double shopfront which will get a residence facing its laneway rear on the 400 sqm block.</span></p>
<p class="p2">It has been the much traded premises, selling three times in nine years, and going back in price too. The Kerry's have picked it up at its 2009 price. It sold inbetween at $5.6 million in 2015.</p>
<p class="p2">The couple are seeking $20 million for their historic Darling Point home Greenoaks Cottage, built in 1850 for industrialist <span class="s1">Thomas Mort to a delightful </span>design by colonial architect <span class="s1">Edmund Blacket</span>.</p>
<p class="p3">The Kerry's bought it from the <span class="s1">Haege family</span> in 2015 for $6.525 million and commissioned architect <span class="s1">Tanya Hancock.</span></p>
<p class="p3"><span class="s1">This article was first published in the Saturday Telegraph.</span></p>
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jchancellor-FAypfDUnLy

Recruiter Phil Kerry buys Woollahra shoptop conversion

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<p>The two sisters who previously owned and operated The Block Gatwick secured Courtney and Hans’ apartment for $2,770,000.</p>
<p>Hans and Courtney saw an opening $2.2 million offer from an absentee bid <a href="/news/the-block-st-kilda-apartment-to-use-online-auction-tool-gavl-on-finale-night">via the Gavl app.</a></p>
<p>The <a href="https://www.domain.com.au/2-34-fitzroy-street-st-kilda-vic-3182-2014552033" target="_blank">2/34 Fitzroy Street</a> offering came with a $2.4 million reserve adjusted to $2.36 million with five registered buyers.</p>
<p>Courtney and Hans’ whose apartment sold for $2,770,000, some $410,000 over reserve.</p>
<p><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/2018/10/29/Hans2.jpg" alt=""></p>
<p>It was their mother Vittoria Carbone or ‘Queen Vicky’, who is fondly remembered for her compassionate management of the hotel and her legacy was then carried on by her daughters Rose and Yvette.</p>
<p>"As this building has a significant value for the sisters, they were delighted to have been able to purchase this apartment as a beautiful piece of memorabilia," their buyers' agent Greville Pabst from PropertyDuo advised.</p>
<p>"The apartment will be leased out to struggling families, so in this way they’re able to keep the tradition alive of The Gatwick being a place helping the local community in need,"he added.</p>
<p> </p>
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Gatwick sisters return to secure Hans and Courtney's Block apartment

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<p>In the first of the five Block Gatwick auctions, Kerrie and Spence sold for $2.85 million to an Australian lawyer based in Singapore who is planning on leasing it out and then living there when he moves back to Melbourne.</p>
<p>The dream kitchen worth $250,000 is what PropertyDuo buyers' agent Greville Pabst found to be very alluring in the apartment. It scored a perfect 30/30 from the judges in kitchen week.</p>
<p><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/2018/10/29/spence2.jpg" alt=""></p>
<p>The <a href="https://www.domain.com.au/1-34-fitzroy-street-st-kilda-vic-3182-2014552025" target="_blank">1/34 Fitzroy Street, </a>offering had a $2.45 million formal reserve with a $15,000 adjustment based on a contestant winning discount which took the reserve to $2.435 million.</p>
<p>The formal price guidance had been $2.5 million to $2.7 million which attracted eight potential buyers who'd registered.</p>
<p>The opening bid at $2.4 million was taken by David Wood of Hocking Stuart with just the three competitive bidders.</p>
<p>Kerrie and Spence secured $415,000 in prize winnings above their reserve.</p>
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Singapore based expat lawyer secures Kerrie and Spence's The Block Gatwick apartment

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<p>Sara and Hayden were the surprise top sellers of The Block series, after the Gatwick penthouse auctions performed poorly.</p>
<p>The luxury northwest facing apartment with 240 square metres of internal space was rare for the area.</p>
<p>Sara and Hayden secured a stellar $3.02 million sale for the <a href="https://www.domain.com.au/3-34-fitzroy-street-st-kilda-vic-3182-2014552048" target="_blank">3/34 Fitzroy Street</a> offering which had an official $2.5 million reserve, with the couple taking home a "life changing" $645,000 including the Season 14 prize money.</p>
<p>The McGrath price guidance had been $2.5 million to $2.7 million.</p>
<p>Their reserve had been adjusted to $2.475 million after they secured a discount during the competition.</p>
<p>With reportedly eight registered buyers, bidding opened at $2.5 million with the buyers' agent Nicole Jacobs who emerged as the top bidder. </p>
<p>Sara and Hayden took home the winnings above reserve of $545,000, plus the $100,000 prize.</p>
<p><span>Hayden and Sara shocked audiences when they won the first challenge of the year and opted to renovate Apartment 3 in the old Gatwick, bypassing the chance to build a brand-new, luxurious penthouse. </span></p>
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<p>It was auctioned by McGrath chief auctioneer Scott Kennedy-Green, who returned to The Block after an eight-year break.</p>
<p>“Despite lower clearance rates and a slowdown in the Melbourne market, this is a testament that well-presented properties will always have the edge,” he concluded.</p>
<p><span>Over the years, McGrath Estate Agents has marketed five properties for The Block, all auctioned by Scott Kennedy-Green.</span></p>
<p><span>They have received the top price on three occasions and won the show twice; the first time with John and Neisha in 2010, who pocketed $305,000 as winners for a 2-bedroom ground floor apartment in Vaucluse, Sydney.</span></p>
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<p><span>McGrath founder John McGrath noted </span><span>The Block had captivated the attention of all Australians for almost two decades.</span></p>
<p><span>"W</span><span>e’re </span><span>delighted to have represented Hayden and Sara to win this </span><span>year’s </span><span>event.</span></p>
<p><span>“</span><span>They did a great job renovating their apartment and fully deserve the win. </span></p>
<p><span>"And whilst it is a blockbuster TV show these are also real sales to real buyers, so we apply the same sales strategies to The Block as we apply to all sales. </span></p>
<p><span>"We are so proud of our St Kilda team for their extraordinary efforts.</span><span>”</span></p>
<p class="first-para"><span>The Block</span> winners Sara and Hayden were the show’s lowest-scoring winners, recording the poorest judges’ scores of the season and the highest number of room reveal losses since the weekly wins begun being awarded 11 seasons ago.</p>
<p>Across nine weeks of room judging, the couple won just one room – the master bedroom – and came last in the judging of the apartment’s main bathroom, first guest bedroom, master en suite, living and dining space and hallway, laundry and powder room.</p>
<p><span> </span></p>
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McGrath secures surprise Block Gatwick top price

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<p>Rob Phillpot, the co-founder of construction software company Aconex, was the mystery buyer of both of the penthouse apartments in the The Block Gathwick for $5.85 million through PropertyDuo.</p>
<p>Using buyers' agent Greville Pabst, his first acquisition was when Norm and Jess sold their penthouse for $2,859,000 (top and below).</p>
<p><span>He had inspected the Gatwick only two nights before the auction.</span></p>
<p>The <a href="https://www.domain.com.au/4-34-fitzroy-street-st-kilda-vic-3182-2014552052" target="_blank">Fitzroy Street</a> penthouse offering came with a $2.65 million reserve with five registered buyers.</p>
<p>There was very cautious bidding after its $2.5 million opening bid from another buyers agent Frank Valentic.</p>
<p>Pabst thought the buy "was a very good value" for the south facing apartment with four-metre-high ceilings and massive terrace. Pabst indicated he was prepared to pay more, but there wasn’t competition.</p>
<p><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/2018/10/29/norm2.jpg" alt=""></p>
<p>Norm and Jess took home $209,000 in prize money.</p>
<p>The next acquisition by Phillpot was the penthouse of Bianca and Carla (below) for $2,991,000, after a tense auction when the auctioneer refused to take a $2.7 million opening bid.</p>
<p>"This is worth $3.25 million," Damien Cooley suggested.</p>
<p>The <a href="https://www.domain.com.au/5-34-fitzroy-street-st-kilda-vic-3182-2014552057" target="_blank">5/34 Fitzroy Street</a> penthouse, which doesn't face Fitzroy Street, had a $2.7 million reserve.</p>
<p><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/2018/10/29/bianc1.jpg" alt=""></p>
<p>The price guidance had been adjusted upwards during the campaign by The Agency to between $2.6 million to $2.8 million. </p>
<p>Bianca and Carla took home $301,000 in prize money.</p>
<p><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/2018/10/29/Bianc2.jpg" alt=""></p>
<p>It was in the late 1990s when Aconex was founded in a kitchen by the two Scotch College school friends, Phillpot and Leigh Jasper.</p>
</div>
<div class="cq-article-content-paras section">
<p>In a deal, announced in December 2017, the company was sold to the global tech giant Oracle.</p>
<p>The friends had started thinking about ways in which the internet could help companies deal with large amounts of data and information.</p>
<p>At the time Jasper was at McKinsey &amp; Company, working in CEO strategy, and Phillpot was a project manager at Multiplex Constructions and was facing the challenge of handling thousands of documents on construction projects.</p>
<p>The takeover deal was the largest ever achieved by a listed Australian tech company and saw Jasper and Philpott walk away with approximately $94 million and $88 million respectively.</p>
<p>Phillpot's home town is Warrnambool.</p>
<p>He had not watched any episodes of <span>The Block.</span></p>
<p>“I came and looked at the penthouses, and they were both amazing,” he said after the auctions.</p>
<p>“I couldn’t pick."</p>
<p><span>He had not yet decided if he would rent them to long-term tenants or look at short-stay options such as Airbnb. </span></p>
<p><span>Experts have tipped the penthouses could fetch between $2000 and $2500 a night on Airbnb.</span></p>
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Melbourne construction digital entrepreneur Rob Phillpot scores both Block Gatwick penthouses

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<p>The Bobolas family’s notorious Bondi hoarder house is set for November 22 auction, the third attempt by the NSW sheriff to forcibly sell the property. </p>
<p>The Californian bungalow last sold to Mary Bobolas in 1973 for $15,000.</p>
<p>There were $2 million hopes the last time it was listed.</p>
<p>Ric Serrao, of Raine &amp; Horne Double Bay, has been enlisted again to sell the 550 square metre property, but without any public buyers’ guide.</p>
<p>The Boonara Avenue property was offered to buyers in mid-2016 but the auction was cancelled at the last minute when the family produced enough funds to pay off part of their debt to council for their continual clean-ups.</p>
<p>The property offers proximity to the beach, cafes, restaurants, shops and public transport.</p>
<p>No inspections of the home are scheduled given safety issues.</p>
<p>The buyer will be responsible for securing vacant possession and the rubbish removal, Serrao told <em>The Daily Telegraph</em>.</p>
<p>There have been periodic night time sightings of family members at the property.</p>
<p>When it was listed in 2015, around 63 contracts were issued, but the Bobolas family again managed to come up with the money just hours before the auction.</p>
<p>There are currently five writs on title, totalling more than $248,000 worth of council clean-up charges and legal fees.</p>
<p>A 2008 study by John Snowdon, professor of psychological medicine at the University of Sydney, showed a increasing prevalence of cases of severe domestic squalor.</p>
<p><em>This article was first published in</em> The Daily Telegraph.</p>
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Bondi hoarders house up for auction for third time

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<p>The founder of Unique Estates, Nicolette van Wijngaarden, faces up to 10 years jail if found guilty of the fraud charges following the collapse of her national estate agency.</p>
<p>The 15 charges were laid after an investigation by forensic accountants.</p>
<p>The NSW Department of Finance told The Echo, her local Byron Bay newspaper, that Ms van Wijngaarden, 44, was currently on bail, due to appear for mention in Sydney’s Downing Centre local court on November 8.</p>
<p>It was front page news today in the town newspaper.</p>
<p><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/2018/10/25/echo.jpg" alt=""></p>
<p>The 44-year-old faces five counts under section 211(2) of the Property, Stock and Business Agents Act 2002, allegations that relate to fraudulently converting money from a business for a person’s own individual use.</p>
<p>Ms Winjgaarden is also facing 10 charges of fraud under the NSW Crimes Act 1900.</p>
<p>The Department of Finance said the total quantum of money involved in all charges alleged is in excess of $3.5 million.</p>
<p>Unique Estates was founded by Ms van Wijngaarden in Byron Bay in 2009 as a boutique agency dealing with luxury properties.</p>
<p>It expanded significantly in the ensuing years to include offices in Albert Park, Double Bay, the Gold Coast, Melbourne, and Hong Kong.</p>
<p>The agency published the magazine Unique Luxury, which was distributed in Qantas lounges across the country.</p>
<p>The agency collapsed in February.</p>
<p>The ATO emerged among the biggest creditors.</p>
<p>"Bank accounts are frozen and there are no funds," was the blunt message to staff as McGrath Nicol was appointed joint managers by the NSW Department of Fair Trading</p>
<p>The agency had won a string of awards over the years including the Best Real Estate Agency Website for Asia Pacific 2017-2018 at the International Property Awards Grand Final Ceremony held in London.</p>
<p><span>It is not the first time a high-flying Byron agent has been caught up in trust account issues.</span></p>
<p><span>The now defunct Byron Bay real estate agency Belle Property was the subject of an earlier investigation by the Department of Fair Trading.</span></p>
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Unique Estates founder Nicolette van Wijngaarden faces 15 fraud charges

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<p>The McGrath share price is going to be 32 cents in a year's time, reflecting no change from its current lows, according to Bell Potter, the stockbroker who helped float the estate agency at $2.10 in late 2015.</p>
<p>The forecast came after McGrath updated the ASX on the deteriorating property market conditions.</p>
<p>McGrath provided a trading update that highlighted a number of factors which are negatively impacting the operating performance of the company.</p>
<p>Click here <a href="https://www.propertyobserver.com.au/images/2018/10/24/mcgrath1.jpg" target="_blank">to enlarge.</a></p>
<p><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/2018/10/24/mcgrath1.jpg" alt=""></p>
<p>McGrath did not provide any guidance for FY19 but did say it expects a much better result in 2HFY19 and “at least a breakeven position on an EBITDA basis” for the full year.</p>
<p>Bell Potter accordingly downgraded its FY19 EBITDA forecast from $5.1 million – which was consistent with underlying FY18 EBITDA – to a modest loss of $0.5 million which is below the company’s general guidance of at least a breakeven result.</p>
<p>It also downgraded its FY20 and FY21 EBITDA forecasts by 58% and 44% but continue to forecast positive EBITDA in both these periods and some improvement in market conditions.</p>
<p>"Our downgraded EBITDA forecasts mean we now expect a net loss in FY20 and a modest net profit in FY21," the stockbroker advised.</p>
<p><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/2018/10/24/Mcgrath3.jpg" alt=""></p>
<p>"The net result is a 16% decrease in our PT to $0.32 which is close to the current share price and so we maintain the HOLD recommendation.</p>
<p>"We note our PT is now modestly lower than the $0.33 valuation we apply to the annuity businesses but we do not see this valuation as the key driver of the share price as we do not expect these businesses to be sold."</p>
<p>The broker advised shareholders it "no longer forecasts a resumption of dividends in FY20 given we now forecast a net loss in the period".</p>
<p>Click here <a href="https://www.propertyobserver.com.au/images/2018/10/24/McGrath2.jpg" target="_blank">to enlarge.</a></p>
<p><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/2018/10/24/McGrath2.jpg" alt=""></p>
<p>Its determination of the price target for McGrath was base on its core DCF (discounted cash flow) and the valuation of the annuity businesses.</p>
<p>"McGrath has two annuity businesses – property management and mortgage broking – which generate recurring revenue and so a relatively reliable or dependable valuation can be applied to each.</p>
<p>"We value both businesses at b/w $55 - 60m which equates to b/w $0.33 - 0.36 per share and so provides some valuation support for the share price."</p>
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McGrath share price supported by property management and mortgage commissions: Bell Potter

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<div dir="ltr">Lady Mary Fairfax, the last owner of the Fairwater harbourfront estate at Double Bay once boasted she was enrolled at Harrington Park, her country estate on the outskirts of Sydney, because her vote mattered more there.</div>
<div dir="ltr">
<div class="m_-1140009158435937648gmail-m_-5445150200022835211gmail-p">
<div class="m_-1140009158435937648gmail-m_-5445150200022835211gmail-p">
<div class="m_-1140009158435937648gmail-m_-5445150200022835211gmail-p"> </div>
<div class="m_-1140009158435937648gmail-m_-5445150200022835211gmail-p">The longtime society doyenne died last year, with her executors recently securing a record setting $100 million.
</div>
<div class="m_-1140009158435937648gmail-m_-5445150200022835211gmail-p"> </div>
<div class="m_-1140009158435937648gmail-m_-5445150200022835211gmail-p">The property had cost £5,350 when bought by her media dynasty forebears in 1901, when the Federation saw the first conservative party local member.</div>
<div class="m_-1140009158435937648gmail-m_-5445150200022835211gmail-p"> </div>
<div class="m_-1140009158435937648gmail-m_-5445150200022835211gmail-p">The electoral pendulum has swung from the ruling Liberal Party representation, but its pricey property has been near endlessly on the rise.</div>
<p>With Sydney house prices having a $980,000 median price, there are almost no opportunities to buy houses at this level across the electorate.</p>
<div dir="ltr">It has the highest valued residential property in the country, given its proximity to the harbour and the coast.</div>
<div dir="ltr"> </div>
<div dir="ltr">
<div class="m_-1140009158435937648gmail-m_-5445150200022835211gmail-p">The residential land value alone - before improvements - of the Woollahra municipality sits at $37 billion.</div>
<div class="m_-1140009158435937648gmail-m_-5445150200022835211gmail-p"> </div>
<div class="m_-1140009158435937648gmail-m_-5445150200022835211gmail-p">It is $29 billion in the Waverley municipality.</div>
<div class="m_-1140009158435937648gmail-m_-5445150200022835211gmail-p"> </div>
<div class="m_-1140009158435937648gmail-m_-5445150200022835211gmail-p">The Wentworth electorate has more haves than have nots among its 103,810 electors.</div>
<div class="m_-1140009158435937648gmail-m_-5445150200022835211gmail-p"> </div>
<div class="m_-1140009158435937648gmail-m_-5445150200022835211gmail-p">Indeed the AFR columnist Christopher Joye speculated before the poll that the affluent Wentworth voters "might inflict massive financial losses on themselves in what is one of Australia's most investment-orientated electorates."</div>
<div class="m_-1140009158435937648gmail-m_-5445150200022835211gmail-p"> </div>
<div class="m_-1140009158435937648gmail-m_-5445150200022835211gmail-p">
<div dir="ltr">Celebrities aplenty, longtime society page doyennes and newbie A-listers, plus even a few rogues call the eastern Sydney suburbs home.</div>
<p>The local estate agents who get around in flash cars, are constantly setting record prices, albeit amid rising homelessness. </p>
<p>The famed Bondi Pavilion on the iconic beach has provided shelter for rough sleepers under its arches.</p>
</div>
<div class="m_-1140009158435937648gmail-m_-5445150200022835211gmail-p">Just across the water, the retailer Mark McInnes recently sold his uninhabitable North Bondi penthouse for $11.5 million to aged care provider Mark Moran who intends a Tobias Architects fit out.</div>
<div class="m_-1140009158435937648gmail-m_-5445150200022835211gmail-p"> </div>
<div class="m_-1140009158435937648gmail-m_-5445150200022835211gmail-p">TV star Larry Emdur sold last year on the cliff at Dover Heights for a record $11.5 million to accountant Anthony Bell.</div>
<div class="m_-1140009158435937648gmail-m_-5445150200022835211gmail-p"> </div>
<div class="m_-1140009158435937648gmail-m_-5445150200022835211gmail-p">The Lowy family picked up a neighbouring beachfront at Camp Cove for $14.2 million taking their holding to three blocks.</div>
<div class="m_-1140009158435937648gmail-m_-5445150200022835211gmail-p"> </div>
<div class="m_-1140009158435937648gmail-m_-5445150200022835211gmail-p">Coastal Tamarama has seen prices hit $13 million when DJ Annie Conley bought the home of pioneering fashion retailer Robbie Ingham.</div>
<div class="m_-1140009158435937648gmail-m_-5445150200022835211gmail-p"> </div>
<div class="m_-1140009158435937648gmail-m_-5445150200022835211gmail-p">The local Tama Surf Living Saving Club president was the Labor candidate Tim Murray.</div>
<div class="m_-1140009158435937648gmail-m_-5445150200022835211gmail-p"> </div>
<div class="m_-1140009158435937648gmail-m_-5445150200022835211gmail-p">At nearby Bronte, which got the $2 million Federal Government grant during the campaign, a record $16.5 million was paid several years ago by a former Keating Government staffer, Seamus Dawes who is now a merchant banker.</div>
<div class="m_-1140009158435937648gmail-m_-5445150200022835211gmail-p"> </div>
<div class="m_-1140009158435937648gmail-m_-5445150200022835211gmail-p">Former state and federal Labor politicians had something of an inland retirement village around Woollahra with the likes of Paul Keating, Graham Richardson and Neville Wran, all owning there at times.</div>
<div class="m_-1140009158435937648gmail-m_-5445150200022835211gmail-p"> </div>
<div class="m_-1140009158435937648gmail-m_-5445150200022835211gmail-p">The departing local member Malcolm Turnbull, with wife Lucy, bought their house, once known as Le Gai Soliel for $5.4 million in 1994, and its likely to be worth $60 million, being on the electorate’s priciest peninsular where prices have hit $61.8 million.</div>
<div class="m_-1140009158435937648gmail-m_-5445150200022835211gmail-p"> </div>
<div class="m_-1140009158435937648gmail-m_-5445150200022835211gmail-p">Centennial Park saw a recent record $16.5 million when tech billionaire Mike Cannon-Brookes and wife Kim sold Braelin, their renovated 1918 home to art gallery owner Gene Sherman and her husband Brian.</div>
<div class="m_-1140009158435937648gmail-m_-5445150200022835211gmail-p"> </div>
<div class="m_-1140009158435937648gmail-m_-5445150200022835211gmail-p">The Atlassian co-founder went on to buy Fairwater, topping the national price record by nearly $30 million on the $71 million just next door on Seven Shillings Beach, which has now been nicknamed Atlassian Cove.</div>
<div class="m_-1140009158435937648gmail-m_-5445150200022835211gmail-p"> </div>
<div class="m_-1140009158435937648gmail-m_-5445150200022835211gmail-p">An active climate change advocate, Cannon-Brookes tweeted Saturday night that he'd happily fund the mooted independent, Jane Caro's challenge against former Prime Minister Tony Abbott in Warringah.</div>
<div class="m_-1140009158435937648gmail-m_-5445150200022835211gmail-p"> </div>
<div class="m_-1140009158435937648gmail-m_-5445150200022835211gmail-p">Double Bay was one of the 12 booth's won by Liberal candidate Dave Sharma among the electorate's 35 booths.</div>
<div class="m_-1140009158435937648gmail-m_-5445150200022835211gmail-p"> </div>
<div class="m_-1140009158435937648gmail-m_-5445150200022835211gmail-p">Kerryn Phelps is the local doctor, who resides not far away in Potts Point. Her large medical practice has seen patients through the years including former Channel Nine boss Eddie McGuire. Liberal senator Trent Zimmerman declared he ranked among the practice's current clients.</div>
<div class="m_-1140009158435937648gmail-m_-5445150200022835211gmail-p"> </div>
<div class="m_-1140009158435937648gmail-m_-5445150200022835211gmail-p">High profile publicist Roxy Jacenko and husband Oliver Curtis recently spent $6.5 million on a Vaucluse home having previously been renting a luxury Bondi Beach apartment block developed by film maker Rebel Penfold Russell, where Hugh Jackman stays in his trips down under.</div>
</div>
</div>
</div>
</div>
<div dir="ltr"> </div>
<div dir="ltr">Bar baron Justin Hemmes lives in The Hermitage at Vaucluse which the hotelier family have owned since paying $500,000 in the 1970s recession.</div>
<div dir="ltr"> </div>
<div dir="ltr">Tycoon James Packer has sold out completely, though his mum, Ros, who attended a Dave Sharma fundraiser, remains at Cairnton, the longheld 2,450 sqm family estate at Bellevue Hill while his ex wife, Jodee Meares, owns at Watsons Bay.</div>
<div dir="ltr"> </div>
<div>John Ibrahim has owned for over two decades at Dover Heights having paid $1,165,000 in 1997.</div>
<div> </div>
<div>There was a brief stay at Vaucluse by Salim Mehajer who rented a mansion overlooking Diamond Bay, before he was forced to vacate last year after owing $18,000 in rent.</div>
<div> </div>
<div><span>Of occupied private dwellings in Wentworth around 17 percent are freestanding houses, with 20 percent semi-detached, row or terrace houses, and ortownhouses.</span></div>
<div><span> </span></div>
<div>
<span><span>Some 61 percent of the dwellings are apartments, making </span></span>Wentworth the most densely populated electorate in the country.</div>
<div><span style="color: #333333;"><span> </span></span></div>
<div><span><span style="color: #333333;">All up some 70,000 privately owned dwellings.</span></span></div>
<div><span><span style="color: #333333;"> </span></span></div>
<div><span><span style="color: #333333;">Around 44 percent of the dwellings are rented, at a $610 a week median, well </span>up on the $380 NSW median, according to the 2016 Census.</span></div>
<div><span style="color: #333333;"><span> </span></span></div>
<div><span style="color: #333333;"><span>For owners, the median monthly $3000 mortgage payments is well up on the $2000 NSW median mortgage. </span></span></div>
<div> </div>
<div>The are declining numbers of boarding houses along with not enough crisis refuges. </div>
<div> </div>
<div>Social housing is available, but sparsely so in the east. <span>Anglicare recently estimated less than one per cent of private rental properties in Wentworth's are affordable for low-income earners.</span>
</div>
<div> </div>
<div>There are NSW Housing Department flats on Neild Avenue, Paddington in the cosmopolitan heartland of the electorate, plus pricey Ramsgate Avenue, North Bondi.</div>
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<p><span>Bridge Housing, an organisation that owns properties and manages properties owned by the NSW Land and Housing Corporation (LAHC), the public housing authority within the NSW Department of Family and Community Services (FACS), has 213 dwellings available in the Waverley municipality and 16 in the Woollahra municipality.</span></p>
<div>The cheapest recent sales have include a $491,700 Bondi Beach studio apartment, a $607,000 one bedder in Bellevue Hill and a $640,000 one bedroom apartment in Vaucluse.</div>
<div>  </div>
<div>
<div class="m_-1140009158435937648gmail-m_-5445150200022835211gmail-p">A one bedroom with views of iconic Bondi Beach might set you back $2.8 million.</div>
<div class="m_-1140009158435937648gmail-m_-5445150200022835211gmail-p"> </div>
<div class="m_-1140009158435937648gmail-m_-5445150200022835211gmail-p">And a car space needs an extra $300,000, but good luck finding one. </div>
</div>
</div>
</div>
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Baton change in political outlook from Fairwater, on Double Bay's Seven Shillings Beach, aka Atlassian Cove

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<p>A turreted beachfront terrace on Port Phillip Bay topped the nation's weekend auction sales, as clearance rates tumbled across the capital cities.</p>
<p>Sydney's weekend clearance rate dropped to 44 percent according to Domain, with Melbourne not faring too much better at 48 percent.</p>
<p>The deterioration had market watchers anticipate auction clearance rates dipping into the 30s. </p>
<p><img src="https://www.urban.com.au/images/2018/10/22/CL%20OCT%2020%20Auctions.JPG" alt=""></p>
<p>SQM's Louis Christopher noted three previous times when Sydney auction clearance rates sunk into the 30s.</p>
<p>"That was in October/November 2008 during the GFC, May 2004 after the NSW vendor stamp duty was introduced and July 1989 when the cash rate hit 17 percent."</p>
<p>Domain chief analyst Nicola Powell said the trend suggested there would not be any improvement before the year is out.</p>
<p data-gtm-vis-recent-on-screen-7770372_137="3385" data-gtm-vis-first-on-screen-7770372_137="3385" data-gtm-vis-total-visible-time-7770372_137="4000" data-gtm-vis-has-fired-7770372_137="1">"I think this is what we are going to see for Sydney for the rest of the year," she told Fairfax Media.</p>
<p data-gtm-vis-recent-on-screen-7770372_137="3385" data-gtm-vis-first-on-screen-7770372_137="3385" data-gtm-vis-total-visible-time-7770372_137="4000" data-gtm-vis-has-fired-7770372_137="1"><span>Dr Andrew Wilson at My Housing Market advised the marketed had "plunged to new depths" on Saturday in the toughest market conditions since the economic shock of the GFC.</span></p>
<p data-gtm-vis-recent-on-screen-7770372_137="3385" data-gtm-vis-first-on-screen-7770372_137="3385" data-gtm-vis-total-visible-time-7770372_137="4000" data-gtm-vis-has-fired-7770372_137="1"><span>"<span>A rising crisis of confidence is now gripping markets with buyer and seller wariness," he noted.</span></span></p>
<p>CoreLogic noted there had been increase in auction volumes with 2,119 homes taken to auction across the capital cities, up from 1,851 over the previous week.</p>
<p>But it was still lower than the same time last year when 2,519 auctions were listed.</p>
<p>Preliminary CoreLogic results showed a clearance rate of 49.8 per cent across the capital cities, considerably lower than the 64.7 percent in mid-october last year.</p>
<p>"It marked the fourth consecutive week where the clearance rate has been below 50 per cent," Kevin Brogan noted.</p>
<p><span>Melbourne was host to 1,088 auctions</span>.</p>
<p>The most expensive home sold in Melbourne was a four-bedroom terrace house with rooftop turrets at <a href="https://www.realestateview.com.au/real-estate/213-beaconsfield-parade-middle-park-vic/property-details-buy-residential-12112349/" target="_blank">213 Beaconsfield Parade, Middle Park</a> (top) for $5.3 million after a $5.1 million opening vendor bid which was matched by a bidder.</p>
<p><span>Two other parties had flagged interest, but chose not to bid, and, after post auction negotiations, the sole bidder raised the offer by $200,000.</span></p>
</div>
</div>
</div>
</div>
<p>The iconic beachfront home has a distinct heritage facade with a castle-like top providing the crowning glory to the traditional terrace.</p>
<p>There was only one bidder for the restored Victorian era residence with a contemporary B.E Architecture update on its 319 sqm lot.</p>
<p><span><span><span>There had been $5 million to $5.5 million price guidance of the once once owned in the early 1990s by the</span></span></span> IVF pioneer Professor Carl Wood who had paid $465,000 in 1990.</p>
<p><span><span><a href="https://www.realestateview.com.au/real-estate/33-35-mount-street-eaglemont-vic/property-details-buy-residential-12126177/" target="_blank">St Clair</a> (below), a landmark 1934 Eaglemont offering did not sell.</span></span></p>
<p><span><span><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/2018/10/22/Eagle.jpg" alt=""></span></span></p>
<p>The lofty 2261-square-metre offering atop Mount Eagle now comes with a $3.9 million asking price through Nelson Alexander agent Gordon Hope who had initial $3.8 million to $4 million price guidance.</p>
<p>The house at 33-35 Mount Street last sold in 1994 at $620,000.</p>
<p>In the race to auction pre-Cup Day, the Real Estate Institute of Victoria are expecting more than 1600 homes on Saturday, including the five apartment in The Block Gatwick renovation in St Kilda. </p>
<p>There were 659 auctions held in Sydney on the weekend.</p>
<p>"It is interesting to note that fewer Sydney properties sold prior to auction," CoreLogic's Kevin Brogan said, reflecting on "the softening market."</p>
<p>Sydney's highest sale was <a href="https://www.realestate.com.au/property-house-nsw-pymble-129382210" target="_blank">19 Bannockburn Road, Pymble</a> (below), which sold for $3.35 million.</p>
<p><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/2018/10/22/Pymble.jpg" alt=""></p>
<p>The 1940s house had been extended and renovated over the years into a single level four bedroom, three bathroom offering.</p>
<p>The nation's cheapest result was $105,000 for a three bedroom house in Adelaide, according to Domain.</p>
<p><span>The <a href="https://www.realestateview.com.au/real-estate/6-redcliffe-street-davoren-park-sa/property-details-buy-residential-12128932/" target="_blank">6 Redcliff Street, Davoren Park offering</a> was a mortgagee sale.</span></p>
<p><span>It had sold at $105,000 in 2007.</span></p>
<p><span>In 2013 it was a $210 a week rental.</span></p>
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Spring auctions could slump into the 30s

<p><a href="https://www.apartments.com.au/developers/consolidated-properties">Consolidated Properties Group</a> (CPG) is approaching the launch of its latest Brisbane riverfront development, Castile, on the dress circle Skyring Terrace in Newstead.</p>

<p>VIP buyers are now being engaged, with a full public sales launch coming later this year.</p>

<p>Positioned as the final opportunity to secure a new absolute riverfront residence on the East bank of Newstead, Teneriffe or New Farm, Castile at 47 Skyring Terrace has been designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> as a timeless addition to the Brisbane skyline.&nbsp;</p>

<p>[smartcode_project:default project_id=150489 project_image_fid=371113]</p>

<p>The name Castile draws on themes of permanence, sophistication and legacy, reflecting a broader vision centred on enduring architecture and timelessness in the rarest of riverfront positions.&nbsp;</p>

<p>CPG Chairman and CEO Don O’Rorke said the project had been envisioned as a future Brisbane icon.&nbsp;</p>

<p>“With 47 metres of direct river frontage and never to be built out views, 47 Skyring Terrace is the definitive address on the Brisbane River,” O’Rorke said.&nbsp;</p>

<p>[smartcode_project:default project_id=150489 project_image_fid=371114]</p>

<p>“Rather than following trend-based apartment design, Castile draws inspiration from Brisbane’s great heritage buildings, reinterpreting classical architecture into a contemporary riverfront landmark designed to stand proudly for the next 100 years,” he said.&nbsp;</p>

<p>The approved development will comprise 227 apartments across a 25-storey tower alongside a boutique six-storey riverfront building of just 12 residences.&nbsp;</p>

<p>Construction is scheduled to commence in September 2026.</p>

<p>[smartcode_project_cta:default project_id=150489]</p>


Joel Robinson

CPG unveils Castile Newstead ahead of upcoming sales launch

<p>Australia’s online shopping habits have shifted dramatically over the last decade. As eCommerce volumes surged, so too did the frustrations that came with traditional parcel delivery: missed deliveries, long Post Office queues, parcel theft and the challenge of being home during business hours.</p>

<p>Australia Post’s Parcel Lockers emerged as one of the more practical responses to that changing consumer behaviour.</p>

<p>What started as a relatively niche delivery option has evolved into a nationwide network of more than 1,400 self-service Parcel Lockers positioned at train stations, shopping centres, supermarkets and Post Offices across the country. The system allows Australians to send, collect and return parcels 24 hours a day, fundamentally changing how many people interact with deliveries.</p>

<p>The appeal is relatively straightforward: flexibility.</p>

<p>Instead of waiting at home for a delivery driver or rushing to a Post Office before closing time, users can direct eligible parcels to a Parcel Locker location of their choice. Once the parcel arrives, Australia Post sends a notification with a collection code or QR access through the AusPost app, allowing customers to retrieve their package at any time within the collection window.</p>

<p>For apartment residents in particular, the system has become increasingly valuable.</p>

<p>Higher-density living has created logistical challenges around deliveries, especially in buildings without concierge services or secure parcel rooms. Missed deliveries are common, while parcel theft has become an increasing concern as online shopping volumes continue to rise.</p>

<p>Australia Post itself has repeatedly highlighted the growing issue of “porch pirates” during peak shopping periods, encouraging customers to use Parcel Lockers as a safer alternative to unattended home deliveries.</p>

<p>That security aspect is one of the key reasons the Australia Post Parcel Locker network has grown so rapidly.</p>

<p>Parcel Lockers are positioned as secure, monitored collection points that reduce the risk of theft while also improving delivery efficiency for Australia Post. Instead of multiple redelivery attempts, parcels can be consolidated into a single secure destination.</p>

<p>The Parcel Lockers themselves are free to use through a MyPost account and support a range of parcel sizes up to 16 kilograms and dimensions of approximately 35 x 44 x 61 centimetres.</p>

<p>Beyond receiving parcels, the system has increasingly become integrated into the broader eCommerce ecosystem.</p>

<p>Customers can now use Parcel Lockers to return online purchases, while retailers have embraced the model as a way to improve delivery success rates and reduce friction in the shopping process. Australia Post has actively expanded partnerships with major retailers and promoted Parcel Lockers as part of a broader out-of-home strategy.</p>

<p>The timing of that expansion aligns with broader changes in Australian shopping behaviour.</p>

<p>The acceleration of online retail during and after the pandemic placed enormous pressure on delivery infrastructure. Parcel volumes reached record highs, particularly during Black Friday and Christmas periods, with Australia Post delivering more than 100 million parcels during peak festive seasons.</p>

<p>That growth forced logistics providers to rethink the “last mile” of delivery, widely regarded as the most expensive and operationally difficult stage of the process.</p>

<p>Parcel Locker systems have increasingly been viewed as part of the long-term solution.</p>

<p>The concept itself is not unique to Australia. Parcel Locker networks have become common globally, particularly across Europe and Asia, where dense urban environments and apartment living create similar logistical challenges. But Australia’s geography and suburban sprawl made adoption slower initially.</p>

<p>Now, however, the convenience factor is driving mainstream usage.</p>

<p>For commuters, Parcel Lockers near train stations allow parcels to be collected on the way home from work. For apartment dwellers, they remove the uncertainty around access and missed deliveries.</p>

<p>The rise of the AusPost app has also streamlined the experience, centralising notifications, tracking and Parcel Locker access into a single platform. Australia Post has increasingly pushed customers toward app-based delivery management, partly as a way to combat phishing scams and fake delivery notifications, which have become more sophisticated in recent years.</p>

<p>The Parcel Locker model is also beginning to influence property development itself.</p>

<p>Parcel management has become a growing consideration in apartment building design, particularly as online shopping becomes embedded in everyday life. Many new residential developments are now incorporating dedicated parcel rooms or Parcel Locker systems into foyers and communal spaces.</p>

<p>For developers, parcel management is increasingly viewed as part of the broader resident amenity offering, alongside gyms, wellness spaces and communal work areas.</p>

<p>That reflects a wider evolution in how residential buildings are designed.</p>

<p>Apartment buyers are placing greater emphasis on convenience, security and operational functionality, particularly in higher-density urban environments. Parcel delivery, once considered a minor operational detail, has become an increasingly important part of that equation.</p>

<p>Australia Post’s Parcel Locker network sits at the centre of that behavioural shift.</p>

<p>What began as a simple alternative delivery option has evolved into a key piece of infrastructure supporting Australia’s growing eCommerce economy and changing urban lifestyles.</p>

<p>And as online shopping continues to expand, the role of Parcel Lockers is likely to become even more embedded in how Australians live, shop and receive goods.</p>


How Australia Post Parcel Lockers changed parcel delivery convenience in Australia

<p>Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.</p>

<p>Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;</p>

<p>David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;</p>

<p>“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;</p>

<p>[smartcode_project:default project_id=110291 project_image_fid=302785]</p>

<h2>Affordable product leads, premium demand remains resilient</h2>

<p>Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;</p>

<p>Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;</p>

<p>At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.</p>

<p>Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.</p>

<p>Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;</p>

<p>[smartcode_project:default project_id=148957 project_image_fid=364102]</p>

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

<p>Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.</p>

<p>David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.</p>

<p>“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;</p>

<p>Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.</p>

<p>[smartcode_project:default project_id=108869 project_image_fid=317905]</p>

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

<p>While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;</p>

<p>Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;</p>

<p>However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.</p>

<p>Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;</p>


Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<p><a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.</p>

<p>The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.</p>

<p>Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.</p>

<p>“Brisbane was the right step for Sammut,” Sammut said.</p>

<p>“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”</p>

<p><img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" /></p>

<p>Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.</p>

<p>The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.</p>

<p>“We are DA approved now which is very exciting,” Sammut said.</p>

<p>“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”</p>

<p><img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" /></p>

<p>Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.</p>

<p>“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.</p>

<p>The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.</p>

<p>“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”</p>

<p>The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.</p>

<p>The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.</p>


Sammut secures approval for debut Brisbane apartment development in Toowong

<p>Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.</p>

<p>Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.</p>

<p>The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.</p>

<p>“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.</p>

<p>“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.</p>

<p>“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”</p>

<p>The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.</p>

<p>“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”</p>

<p>From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.</p>

<p>“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”</p>

<p>The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.</p>

<p>“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.</p>

<p>Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.</p>

<p>“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.</p>

<p>“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”</p>

<p>The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.</p>

<p>“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.</p>

<p>Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.</p>

<p>&nbsp;</p>


Jonathan Chancellor

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