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The Gold Coast waterfront home of Gary Diamond has sold at mortgagee auction after his Pets Paradise businesses went into receivership in July.
The Paradise Waters property, with 20 metres of water frontage and its own beach, fetched $1.74 million among the 12 sales totalling $9.7 million at today’s Ray White Surfers Paradise auction.
<img src="/images/stories/2012/11/petsparadise.jpg">
Some 16 residential properties were offered under the hammer in front of 81 registered bidders, reflecting a clearance rate of 75%.
<a target="_blank" href="https://www.michaelwillems.com.au/pol/property/search.asp?f_propertyID=1949432&amp;xsl=2611&amp;f_st=1&amp;f_ct=1,2,3,4&amp;f_ps=2">Ray White Prestige Gold Coast </a>agent Robert Graham and Michael Willems sold Diamond's four-bedroom Admiralty Drive mansion.
It had been briefly listed last year and for an extended period in 2009 through the Lucy Cole agency. It had $3.75 million expectations on its initial 2008 listing.
<img src="/images/stories/2012/11/petsparadise2.jpg">
PPB Advisory's David Leigh and Grant Sparks, the receivers, sold the house to recoup some of the estimated $11 million owed to Bank of Queensland.
Diamond bought the 733-square-metre block for $2 million in 2006 before commissioning the house, which was finished two years later.
Ray White Surfers Paradise Group chief Andrew Bell said buyer activity was "continuing to strengthen across the property spectrum and buyers are identifying unrivalled value in Gold Coast property.”
“We are now feeling the effects of this year’s interest rate drops and this is adding to the perception buyers should get into the market.
“This was evidenced today, in what was a very active auction room – competition amongst buyers is certainly on the increase,” Bell said.
RWSP Group will hold its final residential and commercial auction for 2012 on December 13 and its annual two-day auction showcase, The Event, on January 27 and 31 next year.
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Pets Paradise boss Gary Diamond's Gold Coast house sold

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Ben Graham, the former Geelong  AFL player, has taken another shot at selling Raasay, his house in the leafy Melbourne suburb of Canterbury. It's listed for December 8 auction.
The former Geelong captain and the first Australian to play in the NFL Super Bowl in the US expects more than $3?million.
The 1900s <a target="_blank" href="/news">Canterbury </a>residence, set on a 1,945-square-metre block, features an Art Nouveau veranda with timber fretwork. Inside there are ceiling roses and Wunderlich ceilings.
It has been listed through Marshall White agent Joe?Muinos and James Tostevin, having last traded at $2.45 million in 2006 with its classic William Morris wallpaper. It was previously for sale through Kay &amp; Burton.
Graham played for the Geelong team for 11 years before departing to the US, where he played in the National Football League in 2005 as a punter. He has since played for the New York Jets, New Orleans Saints, Arizona Cardinals and, more recently, the Detroit Lions.
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Former Cat Ben Graham takes another punt at selling his Canterbury house

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<h3>Top 50 areas in Australia by annual income</h3>
Toorak residents recorded the highest average income in Australia in 2009-10, according to<a href="https://www.propertyobserver.com.au/australian-capital-territory/australia-s-highest-income-suburbs-revealed-toorak-tops-the-list-followed-by-double-bay-bellevue-hill/2012112858152?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news" target="_blank"> figures released </a>by the Australian Bureau of Statistics (ABS) with an average $132,252 income.
<table style="width: 528px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
<a target="_blank" href="/news">Toorak</a>
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
VIC
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
$132,252
</td>
</tr>
<tr>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
<a target="_blank" href="/news">Double Bay</a> - <a target="_blank" href="/news">Bellevue Hill</a>
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
NSW
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
$129,116
</td>
</tr>
<tr>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
<a target="_blank" href="/news">Mosman</a>
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
NSW
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
$126,956
</td>
</tr>
<tr>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
<a target="_blank" href="/news">Hunters Hill</a> - <a target="_blank" href="/news">Woolwich</a>
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
NSW
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
$123,869
</td>
</tr>
<tr>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
<a target="_blank" href="/news">Woollahra</a>
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
NSW
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
$120,199
</td>
</tr>
<tr>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
<a target="_blank" href="/news">Dover Heights</a>
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
NSW
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
$115,387
</td>
</tr>
<tr>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
<a target="_blank" href="/news">Rose Bay</a> - <a target="_blank" href="/news">Vaucluse</a> - <a target="_blank" href="/news">Watsons Bay</a>
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
NSW
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
$115,148
</td>
</tr>
<tr>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
<a target="_blank" href="/news">Cottesloe</a>
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
NSW
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
$113,892
</td>
</tr>
<tr>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
<a target="_blank" href="/news">Nedlands</a> - <a target="_blank" href="/news">Dalkeith</a> - <a target="_blank" href="/news">Crawley</a>
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
WA
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
$106,981
</td>
</tr>
<tr>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
<a target="_blank" href="/news">City Beach</a>
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
WA
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
$102,971
</td>
</tr>
<tr>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
<a target="_blank" href="/news">Willoughby</a> - <a target="_blank" href="/news">Castle Cove</a> - <a target="_blank" href="/news">Northbridge</a>
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
NSW
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
$102,791
</td>
</tr>
<tr>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
<a target="_blank" href="/news">Brighton </a>(Vic.)
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
VIC
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
$101,776
</td>
</tr>
<tr>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
<a target="_blank" href="/news">Paddington</a> - <a target="_blank" href="/news">Moore Park</a>
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
NSW
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
$100,337
</td>
</tr>
<tr>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
<a target="_blank" href="/news">Mosman Park</a> - <a target="_blank" href="/news">Peppermint Grove</a>
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
WA
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
$99,609
</td>
</tr>
<tr>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
<a target="_blank" href="/news">Balmain</a>
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
NSW
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
$98,734
</td>
</tr>
<tr>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
<a target="_blank" href="/news">Lindfield </a>- <a href="/news">Roseville</a>
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
NSW
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
$97,633
</td>
</tr>
<tr>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
<a target="_blank" href="/news">North Sydney</a> - <a target="_blank" href="/news">Lavender Bay</a>
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
NSW
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
$97,038
</td>
</tr>
<tr>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
<a target="_blank" href="/news">East Melbourne</a>
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
VIC
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
$95,349
</td>
</tr>
<tr>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
<a target="_blank" href="/news">Gordon</a> - <a target="_blank" href="/news">Killara</a>
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
NSW
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
$94,339
</td>
</tr>
<tr>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
<a target="_blank" href="/news">Albert Park</a>
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
VIC
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
$91,871
</td>
</tr>
<tr>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
<a target="_blank" href="/news">Ascot</a>
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
WA
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
$90,945
</td>
</tr>
<tr>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
<a target="_blank" href="/news">Hamilton</a> (Qld)
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
QLD
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
$90,900
</td>
</tr>
<tr>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
<a target="_blank" href="/news">Claremont </a>(WA)
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
WA
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
$90,534
</td>
</tr>
<tr>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
<a href="/news">Swanbourne</a> - <a target="_blank" href="/news">Mount Claremont</a>
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
WA
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
$90,517
</td>
</tr>
<tr>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
<a target="_blank" href="/news">Armadale</a>
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
VIC
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
$89,534
</td>
</tr>
<tr>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
<a target="_blank" href="/news">Cremorne</a> - <a target="_blank" href="/news">Cammeray</a>
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
NSW
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
$88,512
</td>
</tr>
<tr>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
<a target="_blank" href="/news">Terrey Hills</a> - <a target="_blank" href="/news">Duffys Forest</a>
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
NSW
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
$87,676
</td>
</tr>
<tr>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
<a target="_blank" href="/news">Red Hill</a> (ACT)
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
ACT
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
$87,496
</td>
</tr>
<tr>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
<a target="_blank" href="/news">Forrest</a>
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
ACT
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
$87,488
</td>
</tr>
<tr>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
<a target="_blank" href="/news">Griffith </a>(ACT)
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
ACT
</td>
<td style="background-color: #caffff; width: 200px; border: #009894 1px solid;" valign="bottom">
$87,473
</td>
</tr>
</tbody></table>
Source ABS, ATO</body></html>

Australia's 50 highest income earning suburbs

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Freemasons Victoria has appointed Mirvac Group to redevelop its East Melbourne Masonic Centre of Victoria.
Occupying the north-west corner of the site on the prominent Victoria Parade frontage, it will come with 250 new residential dwellings in a mix of one, two and three bedroom apartments.
<img src="/images/stories/2012/11/freemasons.jpg">
The redevelopment is anticipated to include new state of the art Masonic facilities to cater for Lodges and the organisation’s secretariat.
Changes to the site are not expected to take place for at least 12 to 18 months.
The Grand Master of Freemasons Victoria, Bob Jones said the redevelopment was subject to members’ ratification and planning approvals and that should the decision be ratified by members of Freemasons Victoria on December 19.
Its a Bates Smart designed project that will replace the exisiting Dallas Brooks Hall which is imposing a heavy burden on the state's 149 lodges.
The 2500-seat auditorium has hosted countless performances since built in 1967.
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Freemasons Victoria appoint Mirvac to redevelop Dallas Brooks Hall site

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The founder of the collapsed Gold Coast lender Equititrust, Mark McIvor is now bankrupt.

The Federal Magistrates Court, Brisbane ruling ordered the sequestration against Mark McIvor’s remaining estate.
It ruled the bankruptcy effective from October 22.
Mark McIvor was bankrupted by his former long-term lawyer and confidante, David Tucker, who once served on the board of Equititrust, over unpaid legal bills.
About 1400 investors lost all or part of their savings when the $260 million fund collapased.
His private assets, both residential and commercial, have been randomly sold off by mortgagees.
Its included his Cronin Island, Gold Coast place of residence and a house in Double Bay. 
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Equititrust's Mark McIvor bankrupt

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The author Linda Wilde, who listed her Gold Coast home in 2010 to fund the publicity of her book, Sex, Do you want more? Yes please, actually never got to sell her investment property.
The Vaggelas Crescent property auction appeared in a repeated televising of the Michael Caton Hot Property series this week on Channel 9.
On its October 2010 auction it was reported Wilde was downsizing her Biggera Waters, Gold Coast, home in order to fund the publicity of her book. 
It was passed in at auction some $50,000 short of her expectations as she was seeking to make a small profit of her initial outlay.
She had bought the waterfront duplex unit as new for $725,000 in 2003.
Featuring Campbell Moore at Harcourts Broadbeach, the auction first aired on Channel 9 in July 2011 when there were $800,000 hopes. It then had a $769,000 post-auction marketing asking price.
An envisaged May 2012 auction didn't proceed as the property's appearance had deteriorated during its tenancy.
"Tenants wrecked the place," one agent advised Property Observer.
After the auction it became available for $650 a week rental. Tenancy changes triggered a new rental marketing campaign at $620 a week in July this year.
Positioned on a tranquil canal just metres from the Broadwater, it was a  two-storey duplex unit.
The north-to-water abode home features a tiled open-plan living space that incorporated a granite kitchen with cream cabinetry, stainless steel appliances and a breakfast bar.
It came with tidy lawn and a shared pontoon which bridges a private sandy beach to the canal.
The ground level also accommodates a bedroom with a two-way bathroom and a walk-in wardrobe, a laundry and internal access to the double garage.
She bought the waterfront duplex unit as new for $725,000 in 2003.
It was here that she penned her <a target="_blank" href="https://www.lindawilde.com/">debut book </a>Sex, Do you want more? Yes please under the nom de plume Linda Wilde.
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Hot Property vendor author Linda Wilde never sold her Gold Coast investment

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Mirvac has confirmed its refunding off the plan deposits for Brisbane and Townsville residential projects.
Construction was scheduled to commence on two key apartment projects this financial year, but given the limited sales and concerns on the off the plan market's immediate future looked, Mirvac's John Carfi confirmed to The Courier Mail that contracts had been cancelled and deposits refunded.
The first stage of Foreshore Hamilton was to be a 23-storey building with 263 apartments. Only three of the apartments had been sold, the paper noted. Prices of one bedroom apartments started from $345,000.
The final stage of Mariners Peninsula, The Point, Townsville was to be a 15-storey building with 71 apartments. Some 27 had been reportedly sold.
It was possible within about 18 months that Mirvac would reconsider a fresh start on both projects.
Mr Carfi said despite there being strong economic fundamentals evident in Queensland, confidence was at an all-time low.
"With the Queensland market, it is difficult to see what the catalyst is going to be (to improve confidence),'' he said. 
 
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Mirvac refunding all off the plan deposits for postponed Brisbane and Townsville residential projects

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Toorak residents recorded the highest average income in Australia in 2009-10, according to figures released today by the Australian Bureau of Statistics (ABS) with an average $132,252 income.
Then followed Double Bay-Bellevue Hill residents which recorded the highest average income in NSW in 2009-10. It comes from data from the Australian Taxation Office which breakdowns information such as personal income by wage and salary, investment, superannuation and annuities. The top four earning regions in NSW were the Sydney regions of Double Bay - Bellevue Hill, coming in top with an average total income of $129,116, then Mosman on $126,956, Hunters Hill - Woolwich on $123,956 and Woollahra on $123,869.
After Toorak, Victoria’s top five earning regions was made up of Brighton on $101,776, East Melbourne on $95,349, Albert Park on $91,871 and Armadale on $89,534 per annum.
Overall, the average total income for the state of NSW is $50,328 which is higher than the national average of $48,530.
The average total income for the state of Victoria is $47,623.
The top five earning regions in Queensland all fall in the greater Brisbane region with Ascot the highest with an average of $90,945, followed by Hamilton on $90,900, Bulimba on $74,206, Hawthorne on $73,928 and Bardon on $73,579.
South Australia’s top five earning regions all fall in the Greater Adelaide region with North Adelaide the highest with an average of $75,574, followed by Walkerville on $74,296, Glenside - Beaumont on $68,892, Unley - Parkside on $66,466 and Toorak Gardens on $65,999.
Cottesloe residents recorded the highest average income in Western Australia in 2009-10, at  $113,892, with the beach-side suburb being the only region outside of New South Wales and Victoria to have an average total income exceeding $110,000. The next highest income earners in Perth were Nedlands - Dalkeith - Crawley on $106,981, City Beach $102,971 and Mosman Park - Peppermint Grove on $99,609.
Tasmania’s top five earning regions were the greater Hobart suburbs/regions of Sandy Bay with an average total income of $59,002, followed by Mount Nelson - Dynnyrne on $54,660, Taroona - Bonnet Hill on $51,476 and South Hobart - Fern Tree on $51,129.
“From a state and territory perspective, the Australian Capital Territory recorded the highest average total income of $58,034 this was followed by Western Australia on $53,397. New South Wales was ranked fourth”, said <a target="_blank" href="https://www.abs.gov.au/ausstats/abs@.nsf/Latestproducts/6524.0.55.002Main%20Features12009-10?opendocument&amp;tabname=Summary&amp;prodno=6524.0.55.002&amp;issue=2009-10&amp;num=&amp;view=">ABS Director of the Rural and Regional National Statistics Centre, Lisa Conolly</a>.
 
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Australia's highest income suburbs revealed: Toorak tops the list followed by Double Bay-Bellevue Hill

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Lower private treaty discounting was necessary to secure sales across most of the Australian capital cities during October than September, according to Australian Property Monitors. Only Melbourne moved markedly against the trend.
Click to enlarge
<a title="Click to enlarge" href="/images/stories/2012/11/apmnov28.gif" rel="shadowbox"><img src="/images/stories/2012/11/apmnov28thumb.gif"></a>
The amount of vendor discounting required to secure residential property sale is much lower than in October last year, a heat chart released by APM shows.
In Sydney, the average discount required in October 2012 was 6.1%, compared with 6.2% in September and 6.5% in October 2011.
Melbourne recorded a monthly increase in the required discounting, jumping from 6.9% in September to 7.2% in October.
Darwin vendors are required to offer the lowest discounts of 4.8% off initial price hopes to secure sales.
Hobart's average discount was a 8.6%, the nation's highest, but with a downwards trend, says APM research analyst Clinton McNabb.
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Melbourne vendors required to offer higher discounts to secure October sales: APM

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Just a year after its $25.7 million after its consolidation, the Blundy family have decided the Vaucluse compound is not for them.
The waterfront portion with a frontage to Kutti Beach has been listed with $20 million hopes through <a href="https://doublebay.ljhooker.com.au/KESF93" target="_blank">Bill Malouf at LJ Hooker Double Bay</a>. It's up for an expressions of interest campaign closing February 2013.
The Wharf Road property cost $17.75 million when the family also bought next door on The Crescent for $7.95 million.
The <a href="/news">Vaucluse </a>acquisition totalled over 2,000 square metres by retail entrepreneur Brett Blundy, the founder and owner of BB Retail Capital (including the Diva and Bras N Things chains), and his wife, Vanessa.
Title Tattle is unaware of any purchase by the family, but there is talk the family are off to Singapore. 
The family also sold their penthouse atop 7 Macquarie Street at Circular Quay, mid-year for $12 million to the Manassen family from <a href="/news">Mosman</a>.  The Blundys had bought the two-level penthouse for $12 million in mid-2007 from the businessman Warren Johns and his wife, Joan.
The five-bedroom, five-bathroom mid-1990s Vaucluse home was constructed for the television entrepreneur Michael Willesee, who sold for $10.3 million in 2000. The residence was designed by Ancher Mortlock and Woolley architect Ken Woolley with championship-sized tennis court and heated swimming pool occuping its elevated 1,597-square-metre block.
A September development application to Woollahra Council to reinstate the orginal lot boundaries after a consolidation of titles gave the clue to the short-lived harbourfront compound.
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Singapore looms as Blundy family list best bit of their $25 million Vaucluse compound

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

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