<html><body>
The Singaporean hotelier Loh Lik Peng's Unlisted Collection: has secured two gateway buildings within the Central Park Broadway precinct with plans to convert the Clare Hotel and the former Carlton &amp; United Brewery's administration building into its first boutique Australian hotel.
With hopes for a late 2014 opening, Frasers Property last week  lodged the plans for the 60-bed hotel, to be owned and operated by Unlisted Collection:, which is undertaking the $20 million redevelopment.
<img height="273" width="470" src="/images/stories/2012/12/kensington1.jpg" alt="kensington1">
Two signature restaurants fronting Kensington Street, a rooftop bar and swimming pool, and a dedicated dessert restaurant are among the plans currently on public exhibition until February 1 with the Department of Planning and Infrastructure.
Construction works totalling 4,600 square metres are expected to commence in mid-2013.
Unlisted Collection:’s Central Park property will consist of 60 rooms.
The chief executive of Frasers Property Australia, Guy Pahor, said the reuse of the two heritage buildings would be a cornerstone of the Kensington Lane precinct – "a charming urban laneway of predominantly heritage terraces and buildings, slated to become an eclectic food, beverage and entertainment destination".
The Central Park concept plan was approved in 2009 with retention and adaptive re-use of 33 heritage buildings a key aspect of the precinct’s masterplan. 
Frasers Property Australia which sold the two buildings had wholly owned the Kensington Street precinct, held separately to its joint venture partnership with Sekisui House on the majority of the Central Park project.
Unlisted Collection: has retained Tonkin Zulaikha Greer Architects to design the $20 million adaption. The two heritage buildings will bejoined by a contemporary steel and glass building, spanning the existing laneway.
Heritage features such as timber panelled boardrooms and historic CUB entertaining areas will be retained, with contemporary additions.
Launching its first boutique hotel, Hotel 1929, in Singapore in 2003, Unlisted Collection: has since expanded to operate six hotel properties and 11 restaurants, located in Singapore, London and Shanghai. The properties include New Majestic Hotel and Wanderlust in Singapore, Town Hall Hotel and Apartments in London, and The Waterhouse in Shanghai.
</body></html>

jchancellor-FAypfDUnLy

Kensington Lane precinct within Central Park Broadway to be Singaporean hotelier's first Australian hotel

<html><body>
The ANZ Banking Group has followed its big bank rivals and lowered its standard variable home loan rates by 0.2 percentage points.
The bank announced today (Friday) that it would lower its standard variable home loan rates effective December 21, 2012.
The bank makes its rate decision on the second Friday of the month.
ANZ’s new standard variable mortgage rate will be 6.4%pa (6.5%pa comparison rate) with the 0.2-percentage-point reduction to save variable mortgage customers about $10 per week for the average home loan of $250,000.
The Reserve Bank of Australia cut the official cash rate by 0.25 percentage points on December 4.
It has been estimated the big banks pocket more than $6 million profit every day they don't pass on the full 25-point rate cut to home borrowers.
“This month we assessed a wide range of factors in reaching our decision including the impact of the lower cash rate on domestic funding sources, continuing competition for deposits, the international funding environment and our competitive position,” ANZ chief executive Australia Philip Chronican said.
“We believe the decision to lower our variable mortgage rate by 0.20 percentage points is the right one for our customers providing a competitive mortgage rate while also recognising the significant uncertainty associated with the fiscal situation in the United States and the political situation in Europe.”
</body></html>

ANZ falls into line with 20bps cut, but takes the profit

<html><body>
The sale of Palazzo Versace on the Gold Coast, the world-first fashion-branded hotel, settled yesterday.
Its developers the Sunland Group told the stock exchange the $68.5 million contract of sale for the iconic 5-star resort had been completed, brokered by Sam and Dan McVay of McVay Real Estate.

Sunland managing director Sahba Abedian said the Chinese investor buyers received approval from the Foreign Investment Review Board.
Mr Abedian said the buyers had also met with representatives from the House of Versace in Italy and they had approved the sale. The House of Versace owns the Versace brand.
Its new owners are little known reportedly a construction group and travel company from Hong Kong.

In October 2011 Sunland reached agreement with the Enshaa Group <a target="_blank" href="https://www.propertyobserver.com.au/leisure/sunland-swaps-palazzo-versace-dubai-for-gold-coast-counterpart/2011101751958">to exchange its joint venture Dubai projects</a> – the Palazzo Versace Dubai and D1 Tower – for 100% ownership of the Palazzo Versace hotel on the Gold Coast.
The 200-room hotel which opened in 2000 has undergone a multi-million-dollar revitalisation in the past 18 months. Its has three restaurants, a marina and 72 attached condominiums.</body></html>

Palazzo Versace on the Gold Coast, the world-first fashion-branded hotel, sold

<html><body>
More than $40 million worth of 7-Eleven service stations have sold at auction this week in Brisbane and Sydney.
The auctions achieved a 100% clearance rate.
The NSW auction saw 10 outlets sell for $23.75 million including a station at Haberfield on a yield of 4.6%.
The seven Brisbane stations grossed $17.1 million, average 6.9%.
“The results of these auctions speak for themselves,” JLL’s head of sales and investments, John Macree, said.
</body></html>

More than $40 million worth of 7-Eleven service stations sold

<html><body>
ANZ has noted housing demand/supply fundamentals continue to tighten, buoyed by net migration and population growth accelerating.
Given building activity was only moderately higher than cyclical lows, there was now pressure in vacancy rates.
Strong demand for existing rental stock was adding upward pressure to advertised rents across most Australian capital cities rental markets.
It was also creating some spill over activity in the home buying market from first home buyers, with the relative cost of mortgage payments to rents decreasing.
"Looking through the distortions of first home buyer policy incentives, first home buyer finance levels are around 25% higher than the recent low in early 2011, the report by David Cannington and Paul Braddick noted.
"We expect demand for first home buyer finance will continue to recover through 2013," the 2012 housing chartbook said.
The report noted house prices have increased in recent months across most capital cities aided by interest rate cuts and tightening underlying housing market demand/supply fundamentals.
However, the housing market outlook across states and territories will likely remain "quite desynchronised."
In the coming year, house prices in Sydney, Brisbane, Perth and Darwin are likely to increase moderately, while soft state economic activity is expected to keep house prices flat to moderately lower in Melbourne, Adelaide and Hobart.
</body></html>

ANZ notes housing demand/supply fundamentals continue to tighten, with net migration and population

<html><body>
Australand has rebuffed the unsolicited, non-binding proposal from GPT to acquire much of its core business.
Its taken five days for the Australand board to make its response to what effectively was the cherry-picking proposal of GPT for Australand’s investment property portfolio and its commercial and industrial business.
The offer involved Australand retaining the residential business.
The Australand board has today declared the GPT proposal as "not providing a compelling value proposition."
It was not in the best interests of Australand’s securityholders with the board suggesting the offer "does not provide a sufficient premium nor compensate Australand securityholders for the transaction costs that would be incurred by Australand, structural inefficiencies and risks involved with implementing the proposal including the uncertainty as to the trading value of the residual residential business as a stand alone listed company."
The board does not intend to engage with GPT in relation to the proposal which they view as  "incomplete, highly conditional and subject to a number of factors including undertaking due diligence, exclusivity and market break fees."
The proposal involved GPT acquiring the assets at a premium of $140 million to the 30 June 2012 book value.
 
</body></html>

Australand rejects GPT offer

<html><body>
There's a $2.25 million St Kilda offering where the owner can watch the Luna Park smile all year round and eat downstairs at Phamish.
It's a modern two-bedroom, three-bathroom penthouse facing the iconic St Kilda landmark and the Palais. Its for sale through <a target="_blank" href="https://www.youtube.com/watch?v=EXmeu5IK0-M&amp;feature=youtu.be">Josh Stirling at Hodges St Kilda</a>.
<img src="/images/stories/2012/12/luna2.jpg">
There's a fully-integrated Smeg kitchen plus contemporary open-plan lounge/dining areas that flow out to a winter garden and adjoining balcony that takes in the sea breezes.
Its private rooftop area comes with built-in barbecue, storage and a full guest bathroom.
The <a target="_blank" href="/news">St Kilda</a> penthouse was last sold for $2.2 million in mid-2011 by the entrepreneur Danny Vorhauer who had paid $1,915,000 off the plan in 2009.
It was bought by investor Kel MacCulloch, who had purchased the adjoining apartment for $1.6 million off the plan in 2009 from the developers, George Saade's St Kilda Esplanade Investments Pty Ltd.
Kel MacCulloch, who operates IT firm O2 Networks, rented his initial apartment when he moved to Clarendon Towers at Southbank, according to 2010 newspaper reports.
It's in the SJB Architects-designed building, which when unveiled in 2008 and was dubbed the "Legs" building, given its green, fishnet-patterned glass facade.
The 12-apartment building won the 2009 South-East Design award for outstanding medium-density housing development and was entered for <a target="_blank" href="https://www.architecture.com.au/awards_search?option=showaward&amp;entryno=2009032144">the Australian Institute of Architects multiple housing award for Victoria</a>.
The design includes rectangular, terrace-style apartments and curved, irregular residences.
"We felt that the building should reflect the vibrant character of St Kilda – the interest in art and form-making," Bialek said at the time.
"The graphic (on the building) is a tongue-in-cheek recognition of the fish nets of the fishermen and of the hookers' stockings."
The apartment has also been recently available at $1,000 a week rental.
An investor paid $2.6 million last month for the premises occupied by the <a target="_blank" href="https://www.propertyobserver.com.au/retail/investor-snaps-up-phamish-restaurant-premises-on-st-kilda-esplanade-for-%2426-million/2012112057963">Phamish cafe </a>reflecting a yield of 6.39%, according to Savills agents Nick Peden and Clinton Baxter.
It was on December 13, 1912, when Mr Moon opened his giant mouth at the fun park now owned by businessman Lindsay Fox.
</body></html>

St Kilda penthouse with Luna Park views fishing for new $2.25 million owner

<html><body>
The Take a Stickybeak campaign, promoting the REIWA’s real estate portal, strikes an amusing note.
<a target="_blank" href="https://www.propertyobserver.com.au/https://twitter.com/REIWA/status/269698903627145217"><img src="/images/stories/2012/12/sticky.jpg"></a>
It comes with a 30-second video campaign aimed at establishing the website as the state’s leading real estate portal.
{qtube vid:=yU6d6T9lfNE}
The reiwa.com website is an industry-based portal that lists properties for sale or rent as well as new homes and developments across WA. It is owned by the Real Estate Institute of West Australia who teamed up to secure marketing support from Kerry Stokes's West Australian Newspapers.
Its competitor sites are News Ltd's realestate.com.au and Fairfax's domain.com.au.
The October Nielsen numbers showed reiwa.com attracted more than 1 million visits per month from over 400,000 unique visitors, generating over 10 million page impressions and around 65 million searches a month. Numbers dipped in November, as for much of the industry, to 351,000 unique visitors generating 9.5 million page impressions, with an average session duration of eight minutes.
Even though the site only shows properties in Western Australia, reiwa.com is the sixth biggest real estate site Australia wide, according to a recent Hitwise Top 10 for real estate.
Charlie Gunningham, the executive manager of reiwa.com, says it's a fun marketing campaign that recognised that everyone likes to have a stickybeak at property.
Indeed is that not the truth! Especially around this place.
I often recall the words of property sage Max Raine in singing the praises of the Sydney Morning Herald's property column, Title Deeds during my lengthy editorship.
Max Raine often noted that Title Deeds, especially when it appeared on the front page of the Saturday property section in the years after its 1987 launch, brought increased numbers of readers who were not actually in the market place for property to the SMH real estate classified pages. And then they quite often became buyers once they were there.
Here at Property Observer we have that same approach in mind - seeking to provide articles for everyone from the property naive to the property passionate. Our readers can be anywhere along the property journey - from those possibly starting out on their first home to those searching for yields for their next property investment. For those looking for advice on buying a simple small storage space to those embarking on setting up their smsf. And ofcourse the curious stickybeaks.   
Interestingly, total visits to all the major Australian property listing sites had its most recent peak last January, according to the blogger Michael Daley <a target="_blank" href="https://www.experian.com.au/blogs/marketing-forward/2012/11/13/is-it-the-right-time-to-buy-or-sell/">who undertakes analysis of Hitwise Competitive Intelligence data</a>. Nothing higher since.
Click to enlarge
<a rel="shadowbox" href="/images/stories/2012/12/sticky1.gif" title="Click to enlarge"><img src="/images/stories/2012/12/sticky1thumb.gif"></a>
 
As far as the most common city- and state-based property searches, "melbourne" dominates, followed "nsw" then "perth", which certainly punches above its weight.
Click to enlarge
<a rel="shadowbox" href="/images/stories/2012/12/sticky2.gif" title="Click to enlarge"><img src="/images/stories/2012/12/sticky2thumb.gif"></a>
 
Recent data compiled by JP Morgan indicated there was a $1.56 billion Australian classifieds market, both print and online, in the past financial year. 
The total online classifieds market was worth $640 million, with the big three made up of employment, real estate and cars. 
The report concluded the total real estate advertising market totalled $586 million – with its online ads being a $219 million segment.
The analysis of the online/print advertising price differential show that the dollar amount spent on print is currently 3.5 to 4.5 times that of online real estate advertising.
The News Ltd lead REA Group ranks as the clear leader in the online residential real estate classifieds market with a near 70% revenue share, followed by Domain, the Fairfax-owned site, with 27% share and in third place, the industry portal, realestateVIEW.com.au with a 4% share.
The newest entrant, Metro Media Publishing, a 50%/50% joint venture between FXJ and leading Melbourne real estate agents, has a forecast online revenue of $20 million by the end of 2013 financial year. JP Morgan notes this would place it as the number three player in the online real estate classifieds market.
realestate.com.au attracts more than twice as much website traffic as its nearest competitor, domain.com.au.
Residential real estate is the largest classifieds market by size at $586 million in the past financial year, accounting for 38% of the $1.56 billion total classifieds market in Australia.
However, online still only comprises 37% of the real estate market, significantly less than employment (58% of total) and automotive (90% of total).
</body></html>

There's a property stickybeak in us all, but selling property is big business

<html><body>
The biggest change on the SQM top 10 discounted listings this week was a price revision from $520,000 to $499,000 at Morayfield in the hinterland of the Sunshine Coast in Queensland.
The three-bedroom rural property was initially listed in October 2011 at $790,000.
"This makes its total discounts amount to $291,000 – 37% in percentage terms," SQM's Louis Christopher notes.
He suggests the after 419 days on the sales market, the vendors will be hoping that this most recent price decrease will attract some serious buyer interest.
 1. 
  <a href="https://www.realestate.com.au/property-other-tas-taranna-106879142" target="_blank">5756 Arthur Highway, Taranna, Tasmania, 7180</a>
<a href="https://www.realestate.com.au/property-livestock-qld-caboolture-7262420" target="_blank"></a>Days on the market: 783 Initial asking price: $499,000 Current asking price: $299,000 Reduction: 40%
 
2
<a href="https://www.realestate.com.au/property-livestock-qld-caboolture-7262420" target="_blank">19 Lychee Drive, Caboolture, Queensland, 4510</a>
Days on the market: 923 Initial asking price: $949,000 Current asking price: $586,000 Reduction: 38%
 
3
<a href="https://www.domain.com.au/Property/For-Sale/House/NSW/Greendale/?adid=2008766488" target="_parent">202 Wolstenholme Avenue, Greendale, NSW, 2745</a>
Days on the market: 685 Initial asking price: $2.95 million Current asking price: $1.85 million Reduction: 37%
 
4
<a target="_blank" href="https://www.domain.com.au/Property/For-Sale/Rural/QLD/Morayfield/?adid=2009282451">276 Forest Hills Drive, Morayfield, Queensland, 4506</a>
Days on market: 419 Initial asking price: $790,000 Current asking price: $499,000 Reduction: 37%
 
5
<a href="https://www.realestate.com.au/property-house-wa-two+rocks-106211228" target="_blank">15 Gretel Two Rocks 6037</a>
Days on the market: 1,071 Initial asking price: $1.1 million Current asking price: $690,000 Reduction: 36%
 
6
<a href="https://www.realestate.com.au/property-house-tas-white+beach-106479093" target="_blank">588 White Beach Road, White Beach, Tasmania, 7184</a>
Days on the market: 923 Initial asking price: $780,000 Current asking price: $499,000 Reduction: 36%
 
7
<a href="https://www.domain.com.au/Property/For-Sale/House/TAS/Campania/?adid=2009601469" target="_blank">409 White Kangaroo Road, Campania, TAS, 7026</a>
Days on the market: 244 Initial asking price: $2.3 million Current asking price: $1.5 million Reduction: 35%
 
8
<a target="_blank" href="https://www.realestate.com.au/property-house-wa-crawley-105528871">1b Hackett Drive, Crawley, WA, 6009</a>
Days on the market: 1,326 Initial asking price: $3.95 million Current asking price: $2.6 million Reduction: 34%
 
9
<a href="https://www.realestate.com.au/property-apartment-vic-docklands-109665546" target="_blank">1601/8 Marmion Place, Docklands, VIC, 3008</a>
Days on market: 280 Initial asking price: $830,000 Current asking price: $550,000 Reduction: 34%
 
10
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106977238">618/ 85 -89 The Entrance Road, The Entrance, NSW, 2261</a>
Days on market: 749 Initial asking price: $299,000 Current asking price: $199,000 Reduction: 33%
 
SQM Research also offers a list of the <a title="SQM Research" href="https://www.sqmresearch.com.au/top100bargains.php" target="_blank">Top 100 Biggest Bargains in Australia </a>for sale.
</body></html>

Top 10 discount in Queensland records 37% price revision after 419 days on the market: SQM

<html><body>
Rainham, the ancestral residence of leading Australian real estate family the Raines, fetched $500,000 at its recent auction.
<img src="/images/stories/2012/10/rainham.jpg">
The Bathurst property sold to musical couple Richard and Suzy Miller, from Stanmore in Sydney. The couple also own a weekender at Rockley, an old parsonage purchased in 1972 that will shortly be put on the market.
Rainham was built in 1832 by Captain Thomas Raine, the father of Thomas Jnr, who co-founded Raine &amp; Horne with Joseph Horne in 1883.
Captain Raine, a mariner, was one of Australia’s earliest entrepreneurs, establishing Australia’s first whaling station at Twofold Bay in Eden on the NSW south coast.
“The listing of Rainham for the first time in 150 years generated a great deal of publicity and buyer enquiry, and it’s terrific this significant home sold at auction,” says selling agent John Fagan.
Fagan, from selling agency Raine &amp; Horne Bathurst, says Rainham attracted 60 to 70 enquiries and about 30 inspections.
Richard Miller plays the timpani in the Sydney Symphony Orchestra, and Suzy Miller is a retired flute player who now teaches.
</body></html>

Rainham at Bathurst sells to Stanmore muso couple

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