<html><body>
Overall NSW land values declined by 0.36% in 2011-12, according to the NSW Valuer-General, compared with a 1.7% increase for the prior annual period.
The total residential land value for NSW decreased overall by 0.24% for the 2011-12 period, compared with an overall 2.1% increase for the prior period. It was the first fall in six years.
Land valuation notices will be mailed to 795,000 ratepayers in 45 local government areas over the next four weeks, commencing January 7, NSW Valuer-General Philip Western said today.
“Some 2.46 million properties were valued as at 1 July 2012 producing a total land value for NSW of around $976 billion,” Western says.
The 45 councils are those that will review their council rates model this year based upon the latest valuations.
“Increases or decreases in land values do not necessarily lead to similar increases or decreases in rates,” Western says.
The largest falls in Sydney residential values were in the pricier municipalities, topped by a 7.3% fall in <a target="_blank" href="/news">Woollahra </a>to a $1.27 million median. Values rising strongly in the inner west was a noticeable trend, along with the outer-west mortgage belt heartland.
The NSW Valuer-General has determined that the land tax threshold for the 2013 land tax year is $406,000, so any property, or collection of investment property, with values above $406,000 will be liable for land tax.
After Woollahra's dramatic fall, <a target="_blank" href="/news">Randwick</a>'s 4.5% drop was next most pronounced to a $716,000 median.
Pittwater shed another 4% to a $620,000 median land value in 2011-12, after a 3.7% decline a year earlier.
Values fell 3.7% in the <a target="_blank" href="/news">Canada Bay</a> municipality to a $677,000 median.
<a target="_blank" href="/news">Waverley </a>land values fell 3.2% to a $968,000 median.
<a target="_blank" href="/news">Mosman </a>land values fell 3% to a $1.28 million median land value.
The largest gain in median residential land values was the <a target="_blank" href="/news">Strathfield</a> municipality, which rose 12.3% to a $747,000 median land value, followed by another Sydney inner-west locality, <a target="_blank" href="/news">Marrickville, </a>rising 10% to a $441,000 median land value.
<a target="_blank" href="/news">Burwood </a>recorded strong growth in values, up 8% to a $555,000 median land value, along with <a target="_blank" href="/news">Ashfield, </a>where values rose 4.8% to a $545,000 median land value.
But <a target="_blank" href="/news">Leichhardt </a>dipped by 1.5% to a $602,000 median land value after recent strong gains.
The outer-west municipalities of <a target="_blank" href="/news">Camden</a> and <a target="_blank" href="/news">Campbelltown</a> recorded strong growth. Campbelltown's median land value was up 4.9% to $171,000, and Camden was up 4.8% to $220,000.
 
 
</body></html>

jchancellor-FAypfDUnLy

Woollahra wears the brunt of the official falls in NSW land values: Valuer-General

<html><body>
<div>
Mortgage insurer Genworth has appointed the former St George Bank chief executive Paul Fegan as its chief financial officer.
</div>
He replaces Anne O'Driscoll, who left in December for a similar role at broker Steadfast.
Fegan joined St George Bank in 2002 and was appointed chief in 2007 until Westpac took over St George in 2009.
His banking career includes a two-decade stint at National Australia Bank.
Most recently Fegan was a director of AMP.
The appointment suggests that Genworth wants to be ready for an initial public offering (IPO) in the second half of this year, if market conditions allow.
It will be overseen by chief executive Ellie Comerford.
</body></html>

Genworth appoints former St George boss Paul Fegan as CFO

<html><body>
Back at the desk or still on holidays?
But even before the 2012 Christmas decorations came down – based on the 12 days-after tradition –Coles and Woolworths were spruiking their Easter egg and hot cross bun offerings.
Almost no room in there for catching one's breath, let alone contemplation as the zealous marketeers seek to direct the masses.
I hope some of us got the chance over the past fortnight to turn off the Twitter, tune into the family conversations in between cricket sessions, and possibly even dive into a good book. And not necessarily one on property investment.
Typically I reckon everyone returns from their summer Christmas break, hot sand washed away from between the toes, brimming with enthusiasm and hope.
But this year, and even ignoring the prospect of an early Easter, I suspect there's a little more latent anxiety in the mix as we start making plans.
I suspect given the world of the never-ending great property unknowns, 2013 will be a heightened version of years past. There will be the good, the bad and the ugly - all depending on your own outlook offcourse. 
Ever more forecasts.
Ever more data.
And of course Property Observer casting some critical comment over it all.
Property Observer's overall outlook is neither bullish or bearish. We simply seek, in the first instance, to report how it is across Australia and occasionally the world. And then we let many voices analyse and comment on what's out there.
The reality is that there are many property markets within our capital cities and regions – all with their individual momentum, upwards, downwards or stagnating.
And there are also the overarching national and international influences.
Who really knows about the international ones, especially since the 2007 toxic mortgage debt occurance, but on the national front, there's little doubt this year’s federal election will have an impact – before and after – one way or another.
Most likely introducing an element of hesitation. Or rather perhaps compounding the already existing inertia. 
The most interesting property statistic to be issued over the break was that Australian home values have fallen for the second year in a row, marking the worst run for the national property market in 16 years.
The slight easing occurred despite the Reserve Bank of Australia slashing the cash interest rate six times in little more than a year.
The conclusion to be drawn is that the cheaper credit is tempering the property downturn rather than kick-starting any across the board recovery.
It was RP Data-Rismark that reported that capital city dwelling values fell 0.4% in 2012, with the decline significantly lower than the 3.8% drop in 2011.
‘‘This is the first time we’ve had back-to-back value declines for an index that goes back to 1996,’’ said RP Data senior research analyst Cameron Kusher.
‘‘It is clear that the previous strong value growth conditions to which many home owners became accustomed to in recent years are well and truly behind us.’’
The median price of a dwelling across the country is $483,000.
Which, as Kusher points out, is a big commitment. 
</body></html>

Federal election another cause for timidness as national dwelling median hovers around its challenging $483,000 hurdle

<html><body>
The REA Group, part of the new News Corporation group, has reported revenue growth of 17% to $77.7 million, driven by continued take-up of its premium value-add products across Australia.
Its update was due to reporting requirements of its parent company by the US Securities and Exchange Commission.
The figures are for the first quarter of the 2013 financial year, ending September 30, 2012.
"REA Group’s double-digit growth in the first quarter is the result of our commitment to delivering outstanding return on investment to our real estate agent customers, and the best user experience for consumers," says Greg Ellis, the REA Group managing director.
The REA Group quarter resulted in EBITDA of $33.7 million, which was an increase of 28% on the same period last year.
The revenue increase follows the introduction of its<a target="_blank" href="https://agent.realestate.com.au/products/listing-products/highlight-property/"> "Highlight"</a> value-add product, which elevates mid-range residential listings to higher among the search results on the site, following its launch in December 2011.
<img src="/images/stories/2012/12/readec24.jpg" width="470" height="409" alt="readec24">
It claims highlight properties secure eight times more views and five times more enquiries than its standard listing.
The group also has a "Premiere" package.
The REA Group, the owner of realestate.com.au and realcommercial.com.au, posted a 29% rise in net profit for the 2012 financial year despite the challenging local property market and a slight decrease in paying agents due to agency consolidation and contraction in Queensland and NSW.
The net profit for the group and its subsidiaries surged to $86.8 million for the year to June 30, 2012, up from $67.5 million in the previous financial year, while revenue jumped 16% to $277.6 million.
</body></html>

REA Group highlights its continued premier profitable dominance

<html><body>
Centuria Property Funds, a subsidiary of the listed Centuria Capital, has sold the 11-level office building at 601 Bourke Street Melbourne to a private European fund for $29.1 million.
Since paying $23.95 million eight years ago, Centuria has strengthened the tenancy profile with extended leases from CGU Insurance Limited and AGL Limited. Earlier this year CGU leased levels four and five at 601 Bourke Street, having already committed to levels one, two and three in 2011. The lease term was for five years at $506,052.50 per annum in a deal negotiated by Ben Ward from Knight Frank and Ed Knowles from Colliers.
The landlord also made significant recent upgrades, including a full renovation of the lift controls and refurbishment of the bathrooms on five levels.
CBRE agents Mark Coster and Mark Granter and Jones Lang LaSalle agents James Kaufman and Rob Anderson brokered this week's sale of the office block which has 7980 square metres of net lettable area and basement parking for 26 vehicles.
Built in 1975, the office block on a 901 square metre holding, was formerly known as Forestry House.
In 2001 Australian Growth Properties paid $10.8m to buy 601 Bourke Street when it was a vacant building.
</body></html>

Centuria sells 601 Bourke Street, Melbourne

<html><body>
<img src="/images/stories/flagtitletat.jpg" style="margin: 5px; float: left;">
Brad Cranfield and Lara Welham, the winners of the fifth season of The Block after their South Melbourne reno fetched for $1.62 million, some $506,000 over reserve, have bought themselves a farm between Cessnock and Maitland.
It was some six months ago they also took home the $100,000 winners' prize, which took their total winnings to $606,000.
It's now been spent on a $510,000 farm at Bishops Bridge. The farm had been for sale for two years until their recent purchase, having been initially listed with $640,000 hopes.
<img height="192" width="320" src="/images/stories/2012/12/bradlarafarm.jpg" alt="bradlarafarm">
Cranfield, a fitter and machinist in the coalmining industry, was born in Taree to a family who operated pubs. Welham is a physical education teacher. They have called East Maitland home for several years. 
<img height="335" width="470" src="/images/stories/2012/12/blockcrane.jpg" alt="blockcrane">
The couple, who had renovated two houses before The Block, have been in the process of garden and fence works around a cute weatherboard house on a block that cost $245,000 in 2007.
They recently become the face of <a target="_blank" href="https://www.mcdonaldjoneshomes.com.au/home/.aspx">McDonald Jones Homes</a>, pushing a "next generation" marketing brand aimed at younger people who want to build new homes across the Hunter region.
<img src="/images/stories/flagtitletat.jpg" style="margin: 5px; float: left;"> It seems that no sooner has the last remnant of The Block 2012 came to a conclusion – the ugly duckling challenge house sells for a loss making $1.125 million – than Title Tattle is stumbling across snippets from the next series.
<img height="174" width="470" src="/images/stories/2012/12/blockallstars.jpg" alt="blockallstars">
It's being promoted as the 2013 The Block: All Stars, but that really means four losing couples have been offered a second chance at the marathon renovation challenge. 
There are whispers from insiders that its the best series yet. Near walkouts by the contestants just the tip of the Bondi iceberg.
Last week Title Tattle gathers the estate agents were selected given planning needs to get underway for the pre-Easter March auction of the four Tasman Street, Bondi, cottages.
But not before estate agents battled to get the prime listings – even having shouting matches in the street. And they were from the same estate agency franchise.
<img src="/images/stories/flagtitletat.jpg" style="margin: 5px; float: left;"> The four couples to star in The Block: All Stars season hark back to Adelaide's Phil and Amity (2003), who were inaugural contestants at the Block in Bondi Beach, then Vaucluse Sydney's Mark and Duncan (2010), Richmond Melbourne's Josh and Jenna (2011), and South Melbourne's Dan and Dani (2012).
<img src="/images/stories/2012/10/bondiblock.jpg">
The couples are filmed renovating four run-down cottages in Bondi – a few kilometres from the near beachside location of the first season at 67 Roscoe Street, Bondi Beach, almost 10 years ago in boomtime 2003. Its Bondi location is a little more suburban than beachy. The hush-hush purchase of four adjacent properties cost around $4.4 million in late 2011. Each of the semis sits on a 260-square-metre holding.
<img src="/images/stories/2012/10/blockmap2.jpg">
As the social media buzz grows tell us what you anticipate:
{module Block All Stars best designer}
{module Block All Stars winner}
</body></html>

Brad and Lara buy a 27-hectare Hunter Valley farm, while estate agents become The Block 2013 prima donnas

<html><body>
Australian expatriates often buy properties back in Australia.
Perhaps not necessarily when the Australian dollar is as high as present, but they do always have in their minds their eventual return to what will be their family home when their overseas assignments end.
The buying of a house back home raises many personal and financial issues regarding the selection of the property, the potential capital gains tax (CGT) treatment, negative-gearing tax breaks, and the possible tax consequences if rental income exceeds deductible costs.
Some Australian expats rely heavily on their Australian-based relatives to inspect, at least initially, possible purchases.
And many expats hire buyers’ agents to search and negotiate for properties that match their criteria.
Despite the high Australian dollar, real estate agents and buyers’ agents say there are great buying opportunities for cashed-up expats given the depressed state of the Australian market – particularly at the upper end.
Property Observer <a href="http://propertyobserver.com.au/ebooks/free-ebook-20-top-tips-for-australian-expats-thinking-of-buying-homes-this-summer" target="_blank">has published an eBook</a> written specifically for Australian citizens who are residents of another country, including for tax purposes, during extended overseas assignments.
Veteran personal finance and property journalist Michael Laurence was the author who has sought out buying tips and warnings from real estate agents Ross Savas of Kay &amp; Burton Real Estate, Shayne Harris of Savills Australia and Angus Raine of Raine &amp; Horne.
Buyers’ agents David Morrell of Morrell and Koren, Rich Harvey of propertybuyer and Peter Kelaher of PK Property Search and Negotiators have provided valuable insider strategies too.
David Morrell, a director of Melbourne buyers’ agent Morrell and Koren, warns that some vendors regard Australian expatriate buyers as "wood ducks", or easy targets. For those expats who have been out of the country too long, a "wood duck" is an Australian term for a "useless bastard". The term emerged in the 1970s and was used by car salesmen to denote an easy mark. This is not to be confused with the American or Australian wood duck. 
Morrell says some unfortunate expat buyers unwittingly send a clear message to vendors that they have plenty of money, are poorly informed about the local property market and have little time to inspect properties.
His advice is straightforward: "Slow down, take a Panadol, and do your due diligence on the market".
Shayne Harris, head of residential for international agency Savills Australia, says he tries not to disclose to vendors that a would-be buyer is an expatriate.
Harris says vendors may jump to the conclusion that the expatriates have plenty of money.
"It makes a very difficult negotiation, because some people think they can afford to pay anything.
"We often say to vendors, ‘The reason they have money is because they don’t pay silly money for things’."
For more on<a href="http://propertyobserver.com.au/ebooks/free-ebook-20-top-tips-for-australian-expats-thinking-of-buying-homes-this-summer" target="_blank"> Australian expats buying property back home, download our free eBook.</a>
</body></html>

Australian expatriates mustn't be 'wood ducks' when buying back home: buyers' agents

<html><body>
YBR boss Mark Bouris has had his pad in The Astor on Macquarie Street, Sydney quietly listed for sale for the past few months.
It was in 2006 when he bought<a href="https://www.domain.com.au/Property/For-Sale/Apartment-Unit-Flat/NSW/Sydney/?adid=2010091212" target="_blank"> the five-bedroom, two-storey north-east corner apartment </a>from then Astor chairman Peter Kernaghan.
There's no price estimate available to Title Tattle from its listing agents, Lisa Steel and David Newgrosh, but it might have $10 million-plus hopes given its lavish renovation, and noting a two-bedroom 11th-floor unit comes with a $3.15 million asking price through McGrath Estate Agents.
It has an estimated 440 square metre space over what were three separate apartments.
Its also <a href="https://www.propertyobserver.com.au/https://www.lisasteele.com.au/property/details/469" target="_blank">been available for rent at $3950 a week</a>.
{yoogallery src=[images/stories/2012/12/dec20bouris]}
It's best known for when occupied by entertainer Barry Humphries, before it sold for $800,000 in 1987, and then extended with the addition of another adjoining apartment.
It comes with sweeping semi-spiral staircase to the upper level, where there is a "magnificent master bedroom suite" with private study, walk-in dressing room and ensuite bathroom.
The very private Mark Bouris has resticted internal photos to just the one image, although all who've been through say its a stunning apartment.
Title Tattle last inspected the apartment back in 1986 when its was Dame Edna's possum pit. At the time it was also a split-level triplex. The then selling agent was Tim Mansfield at the Andrew Gibbons agency whose pioneering selling technique included a three minute promotional video. The price back then was $1.25 million for the then seven bedroom apartment, with the apartment split back into two leaving one with the gracious wrought iron staircase for grand entrances.
The Astor is the 12-storey, 1920s company title block that once dominated not only the city skyline but Sydney society.
Despite being the city's oldest apartment complex - and facing serious competition from many nearby new developments – it continues to attract buyers, especially when a modernised apartment comes with parking elsewhere on the strip. Especially after the elegant Iain Halliday-designedrenovation benchmark set in the mid-1990s after style-setters, ad man John Nankervis and wife Amanda bought their $535,000 third-floor deceased estate unit. 
Bouris took up his ownership having previously had digs elsewhere on Macquarie Street, in the Bennelong complex.
Over the years the block of apartments has been home to Lisa Rochfort, who was the managing director of Australian couture jewellers Fairfax &amp; Roberts, adman Harold Mitchell, Pioneer founder Sir Tristan Antico, broadcaster John Laws and artist Portia Geach.
Being company title, keeping track of pricing and sales figures is a little difficult, though in 1932 the eighth-floor north-east corner block was passed in at 4300 pounds.
Peter Kernaghan had knocked back $3.82 million when he sought to sell it in 2002.
The <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/apartment-sydney-nsw-2000/161473" target="_blank">1101 Astor listing</a>, which had initial $3.35 million asking price,  is a north-east facing, two bedroom apartment.
Its possibly the apartment rented by the Sydney Harbour Bridge engineer Lawrence Ennis, of Dorman, Long &amp; Co, who would look through his telescope to check on the progress of the bridge's construction.
The Astor was Sydney's highest residential building from 1923 until 1960 and its off-the-plan prices ranged from 1500 pounds to 2700 pounds.
 
 
</body></html>

Mark Bouris lists his Astor apartment on Sydney's high society Macquarie Street

<html><body>
The scaffolding surrounding Lend Lease’s timber Docklands development Forté has come down, revealing the tallest timber residential building in the world.


Construction started in the first week of June, with levels rapidly added in the weeks that followed.
<img height="353" width="470" src="/images/stories/2012/12/fortedec20.jpg" alt="fortedec20">
Buyers are expected to move in next month, with the official launch to be held in late February. 
<img height="353" width="470" src="/images/stories/2012/12/fortedec202.jpg" alt="fortedec202">
The $11 million project makes use of the lightweight cross-laminated timber (CLT), commonly used in Europe, which has a structural strength similar to concrete and steel.
There are be 23 apartments in the 32-metre, 10-storey building. Prices start from $435,000 for a 59-square-metre one-bedroom apartment, climbing to the high $600,000s for a two-bedroom, two-bathroom pad, with the penthouses reaching $795,000.
Construction of the building was quieter, more efficient, faster and safer than construction with more traditional materials.
 
Forté's pictorial timeline
 
  
<img height="313" width="470" src="/images/stories/2012/06/fortesite3.jpg" alt="fortesite3">
Forté's progress as of June 8
 
<img height="313" width="470" src="/images/stories/2012/06/fortejune3.jpg" alt="fortejune3">
Forté's progress as of June 29
 
<img height="313" width="470" src="/images/stories/2012/07/july13forte/_mg_5006.jpg" alt="_mg_5006">
Forté's progress as of July 13
<img src="/images/stories/2012/08/forteaug173.jpg">
Forté's progress as of August 20
<img src="/images/stories/2012/09/fortesept7.jpg">
Forté's progress as of September 7
<img height="627" width="470" src="/images/stories/2012/12/fortedec201.jpg" alt="fortedec201">
Forte's progress as of December 20
{module Would you buy an apartment in a timber building?}
</body></html>

Forté scaffolding comes down, unwrapping the world's tallest timber building

<html><body>
Australia’s property market will be on the rebound in 2013, having reached the bottom of the property cycle, according to the First National Real Estate 2013 Property Market Outlook.
“Our members are looking forward to 2013 where the market is expected to build on the momentum already seen over the last six months of 2012,” Ray Ellis, the First National Real Estate chief said.
“Almost three-quarters of our members say the market has bottomed or will do so in the coming six months.
“However, while the market is on the rebound, there is a general consensus the recovery will continue to be slow and gradual.”
Its been based on a survey of the 400 plus member network of whom 90% of respondents thought market conditions would stabilise or improve in the first half of the year.
Some 91% of the respondents also envisaged the average number of days a property is on the market is expected to hold, or fall from current levels and that property listings will remain at current levels or rise.
Agents expect property prices to remain flat, with any increases to be found primarily in houses and land rather than apartments.
"Growing affordability will drive home price growth in New South Wales, Tasmania, South Australia and Western Australia," the report suggested.
Improved affordability and better buying conditions will underpin home buying activity growth in 2013, with the survey showing upgraders and investors will be the most active sectors.
In South Australia and Western Australia, first home buyers are expected to be the most active, but in New South Wales, Queensland and Tasmania it will be investors. In Victoria, opinion is equally split between the two market sectors.
</body></html>

Slow and gradual market recovery in 2013: First National

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