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Socceroos goalkeeper Mark Schwarzer, who plays in the English Premier League with Fulham, has listed Boongarre, his Watsons Bay property, for rent at $3,500 a week, which is a snip compared with the $10,000 being sought for the nearby Vaucluse residence, Coolongatta, the Vaucluse four-bedroom Art Nouveau waterfront.
<a target="_blank" href="/news">The Schwarzer harbourfront property has been on the market with price hopes of more than $12 million through Pillinger Real Estate</a>, but it hasn't sold so Schwarzer is now seeking a tenant. The two-storey, five-bedroom, four-bathroom weatherboard house sits on a 1,214-square-metre Pacific Street block.
Schwarzer bought Boongarre for $10.2 million in 2009.
Schwazer and his wife, Paloma , who are staying in Europe, had it previously available for rent in March last year at the same asking price.
Boongarre was the childhood home of the renowned author Christina Stead, and it was owned by the Stead family from 1918 until 1980, when it was bequeathed to the National Trust.
It’s for lease through Camilla Piggott at Laing + Simmons Double Bay Executive Leasing.
Coolongatta, the Vaucluse waterfront that last sold at $10.5 million in 2002 to the Dalley family, is a 1,750-square-metre Coolong Road property. It’s best remembered for its $5.25 million sale in 1987 by the stockbroker Anthony Crichton-Brown to stockbroker Brent Potts, who sold in 2000 for $8.5 million.
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jchancellor-FAypfDUnLy

Socceroos goalkeeper Mark Schwarzer passes Watsons Bay home to rental market after buyers play hardball

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The empty former Melbourne Vinegar Company warehouse premises in Northcote has been sold for $707,000 by jewellery designer Tessa Blazey.
<img src="/images/stories/2012/07/vinegar.jpg">
Historical photos courtesy of the <a target="_blank" href="https://dhe.darebin-libraries.vic.gov.au/encyclopedia.asp?id=336">Darebin Historical Society</a>
It was constructed in the 1920s as SK Dixon flour business, which morphed into the Melbourne Vinegar Company and from 1958 was owned by Skipping Girl Vinegar, representing an authentic piece of Melbourne's history, according to the Darebin Historical Encyclopedia.
Shayne Mooney at Nelson Alexander marketed the property as in the heart of Ruckers Hill.
<img src="/images/stories/2012/07/vinegar2.jpg">
“The huge warehouse shell presents the ultimate blank canvas on which to create a residential masterpiece,” he says.
It last sold at $318,000 in 2004.
<img src="/images/stories/2012/07/vinegar3.jpg">
Buyers’ advocate Paul Osborne, from Secret Agent, observed there were five bidders at the auction.
It is a large open warehouse shell behind its facade.
While totalling only 150 square metres internally, the internal space could be used to create three floors. Live Load architectural practice partners Quinton Duffy and Julia Lehmann prepared a possible concept for implementation. The plans must be commenced by November 2012 to ensure compliance with the council approval timetable.
Its most recent taxable land value was $377,000 in early 2012.
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New owner to savour former Melbourne Skipping Girl Vinegar Company warehouse  after $707,000 auction

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<a target="_blank" href="https://www.propertyobserver.com.au/renovating/at-%24506000-above-reserve-brad-and-lara-s-%24162-million-south-melbourne-sale-secures-the-block-2012-prize/2012062955355"><img src="/images/stories/2012/07/606k.gif"></a>
The <a target="_blank" href="https://www.propertyobserver.com.au/renovating/at-%24506000-above-reserve-brad-and-lara-s-%24162-million-south-melbourne-sale-secures-the-block-2012-prize/2012062955355">amount The Block 2012 winners Brad and Lara take home following the conclusion of the reality show</a>. This includes $506,000 above the reserve for their $1.62 million terrace sale, plus $100,000 in prize money. The bidding enthusiasm knocked the five local buyers' agents out of contention. 
Karin Mackay of Australian Property Buyers said the bidding across all four terraces "blew everyone out of the water with the prices they achieved."
She had authority to purchase two terraces armed with two deposit cheques for if she was successful.
"I know the area extremely well and had the resources to evaluate their worth," she told Property Observer. "Based on historical sales I believed they were worth between $1.12 million to $1.2 million for 401, 403 and 407 and Brad &amp; Lara's 405 up to $1.3 million."
She had expected that 401,403 and 407 would have had a $1 million reserves and 405 a $1.2 million reserve. Mackay suggests even though they were fully furnished she doesn't believe there was "that great a value for an investor".
"Lovely for depreciation and renting them out fully furnished, however I saw a risk value issue if the investor found themselves in financial trouble a year or two down the track. The furniture wouldn’t be worth anything and the investor may have lost money on the sale price. When buying for investors in particular I always evaluate the risk value. These terraces stacked up extremely well for my investor client and would have been positively geared if we had bought at the market value."
Mackay suggests the bidding enthusiasm was "amazing ... people were there to buy and it showed in the bidding."
Mackay's takeout impressions were that it was important for home owners not to over capitalise "unless you are going to live in it for at least 10 years"/ "Location, location, location sells, especially if you have created a wow factor by hiring furniture – furniture sells the property. You don’t need to sell the furniture with the property. For the investor the newer the better when you are in the 47.5% tax bracket. These were positively geared if we had bought at the market price and rented fully furnished. If I had gone higher they still wouldn’t have cost the investor very much out of his own pocket, however I also chase capital growth and if I had gone any higher he wouldn’t have enjoyed any capital growth for three or more years in this market," she concludes.
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/julian-mcmahon-and-sisters-to-split-%24625-million-proceeds-from-lady-sonia-mcmahons-home-sale/2012070255376"><img src="/images/stories/2012/07/6point25m.gif"></a>
The <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/julian-mcmahon-and-sisters-to-split-%24625-million-proceeds-from-lady-sonia-mcmahons-home-sale/2012070255376">amount that Nip/Tuck star Julian McMahon</a> and his two sisters, Melinda and Deborah, will split following the sale of their mother Lady (Sonia) McMahon's former Bellevue Hill home.
 
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/developments/june-30-buyers-took-advantage-of-stamp-duty-concessions-boosting-nsw-off-the-plan-sales-for-crown-v/2012070155370"><img src="/images/stories/2012/07/21.gif"></a>
The number of off-the-plan sales the <a target="_blank" href="https://www.propertyobserver.com.au/developments/june-30-buyers-took-advantage-of-stamp-duty-concessions-boosting-nsw-off-the-plan-sales-for-crown-v/2012070155370">Crown Group secured for its V project in Parramatta</a> last weekend as buyers rushed to secure the NSW home builders' bonus stamp duty exemption on its last day. 
 
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/residential/militant-nimbyism-from-mosman-to-bondi-ruining-development-of-sydney-housing-market-mckell-institute-s-41-suburb-hit-list/2012070255380"><img src="/images/stories/2012/07/41.gif"></a>
The <a target="_blank" href="https://www.propertyobserver.com.au/residential/militant-nimbyism-from-mosman-to-bondi-ruining-development-of-sydney-housing-market-mckell-institute-s-41-suburb-hit-list/2012070255380">number of Sydney suburbs that think-tank the McKell Institute says are “ripe for a terrace revolution”</a> but for “narrow-minded, self-interested individuals” protesting against redevelopment. 
 
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<img src="/images/stories/2012/07/3point5percent.gif">
The cash rate, <a target="_blank" href="/news">after the RBA left rates on hold at its Tuesday meeting</a>. 
 
<hr>
 
<a target="_blank" href="https://www.propertyobserver.com.au/australian-capital-territory/fund-manager-and-mortgage-lender-provident-capital-placed-in-receivership-following-court-order-to-protect-small-time-investors/2012070455428"><img src="/images/stories/2012/07/3500.gif"></a>
The <a target="_blank" href="https://www.propertyobserver.com.au/australian-capital-territory/fund-manager-and-mortgage-lender-provident-capital-placed-in-receivership-following-court-order-to-protect-small-time-investors/2012070455428">number of small-time investors who have money invested in fund manager and non-bank lender Provident Capital Limited</a>, which went into receivership this week. 
 
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/residential/fewer-gen-ys-expect-to-ask-their-parents-for-help-in-buying-their-first-home-rabodirect/2012070455421"><img src="/images/stories/2012/07/26percent.gif"></a>
The <a target="_blank" href="https://www.propertyobserver.com.au/residential/fewer-gen-ys-expect-to-ask-their-parents-for-help-in-buying-their-first-home-rabodirect/2012070455421">percentage of Gen Y borrowers who expect to have to ask their parents to help them buy their first home</a>, according to the 2012 National Savings and Debt Barometer compiled by RaboDirect. This is down from 35% in 2011.
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The 7 must-know numbers of the week, starting with Brad and Lara's The Block winnings

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Scammers are again targeting Perth rental enquiries, with genuine listings being misappropriated to obtain tenant applicants’ personal identification details.
The scam originally targeted overseas students but with the tight rental market, Western Australians desperate for accommodation are now being caught out, the WA Department of Commerce’s Consumer Protection advises.
The rental listings of the big WA real estate agencies are being targeted, with the rental property listings being illegally copied and uploaded onto free classified advertising websites.
Prospective tenants who enquire about the offering are asked to provide details for a personal identification check, after which their identities are stolen, Realmark has suggested.
Last year renters were advised of the online scam, suggesting some listings on sites such as Quokka and Gumtree were listed at significantly reduced asking rentals to generate enquiry from tenants seeking a bargain. The websites warn prospective tenants to use common sense and not get duped.  
<img src="/images/stories/2012/07/gumtreewarn.jpg">
The push by agents is seen in part by tenants' advocacy groups as estate agents seeking to prop up their longstanding near monopoly against startup websites and d-i-y landlords.
Gumtree Perth has 1,700-plus rental listings.
Scammers often ask for money to be paid upfront for bond or rent only for the money to disappear.
<img style="float: left; margin: 5px;" src="/images/stories/2012/07/quokkawarn.jpg">
Realmark managing director John Percudani has suggested this week that prospective renters best deal with licensed real estate agents.
“I think if they are not on a proper website like Realmark, or Realestate.com.au, or Reiwa or thewest.com.com, then they should be very wary,” he told The West real estate YouTube program.
SQM Research show Perth's residential vacancy rate at 0.6% in May.
The WA Department of Commerce’s Consumer Protection unit has confirmed an increase in enquiries from real estate agents seeking advice on combating the rental scams.
Consumer Protection recommends tenants deal with prospective landlords or licensed real estate agents in person whenever possible.
Prospective tenants should be especially wary where emails are solely via free webmail accounts such as Gmail, Hotmail and Yahoo.
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Perth agents warn/scare tenants against do-it-yourself landlords regarding rental scams

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Kennebunkport, the longtime Western Australian beachfront retreat of the property developer Warren Anderson and his former wife, Cheryl, has been sold after being listed with revised $5.2 million-plus hopes.
The six-bedroom Eagle Bay home was put in the hands of receivers after the internecine collapse of the Anderson family trust, Owston Nominees No 2.
The <a href="https://www.propertyobserver.com.au/australian-capital-territory/fund-manager-and-mortgage-lender-provident-capital-placed-in-receivership-following-court-order-to-protect-small-time-investors/2012070455428">troubled mortgage lender Provident Capital</a> – which went into receivership this week – had the first mortgage on the property dating back to 2004 refinancing. The finance was offered at a 17.5% interest rate.
Angas Securities took a second mortgage in 2008 along with Balanced Securities taking the third mortgage and Mortgage Funds Management taking the fourth mortgage on the 2,261-square-metre holding.
The house had $12 million initial hopes on its 2009 listing. The trust paid $420,000 in mid-1989 for the holding which had traded just seven months earlier at $350,000.
The Fern Road property with views of Eagle Bay had been listed by Peter De Chiera of Stocker Preston. No sale price has been revealed of the transaction, which preceded the recent court case, and orders, before Justices Jacobson and Rares.
Anderson <a target="_blank" href="https://www.propertyobserver.com.au/residential/property-developer-warren-anderson-goes-quietly-this-time-departing-fernhill-after-three-decades/2011112452520">vacated Fernhill</a>, his historic mansion at Mulgoa in Sydney's outer west, under court order after being <a target="_blank" href="https://www.propertyobserver.com.au/residential/property-developer-warren-anderson-goes-quietly-this-time-departing-fernhill-after-three-decades/2011112452520">declared bankrupt</a>.
Have you invested in Provident Capital debentures or do you have a Provident Capital mortgage? Send an <a href="mailto:news@propertyobserver.com.au">email to Property Observer</a> with any news or thoughts.
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Provident Capital secures mortgagee sale of Warren and Cheryl Anderson’s Western Australian beachfront retreat, Kennebunkport

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The small coastal Sydney suburb La Perouse has recorded its first house sale since mid-2010.
An architectural designed Endeavour Avenue house overlooking Frenchmans Bay sold for $1,595,000 last week. 
It was bought by the Channel Nine television sports identity Tim Gilbert and his wife, Josie who recently sold their Maroubra home for $1.16 million through Raylean Ellison of Ellison Zulian Property.
<img src="/images/stories/2012/07/laperouse.jpg">
Starting off with a $2 million-plus asking price, the property had been on the market by the Reid family for 460 days with two different agencies and two auction campaigns before selling last month through private treaty.
<img src="/images/stories/2012/07/laperouse2.jpg">
Its McGrath selling agent said it was hard to set a price due to the lack of comparable sales in the area.
The suburb notched up its first $1 million-plus sale in 2002. There have been six subsequent sales, with the highest price being $1.6 million in mid-2010, the suburb’s last house sale.
The Endeavour Avenue house previously sold in 1999 at $540,000.
<img src="/images/stories/2012/07/laperouse3.jpg">
The sale of the water-view contemporary four-bedroom home has been heralded as a sale that will start a significant demographic change in the next few years in the district, which has just 86 residential properties.
<img src="/images/stories/2012/07/laperouse4.jpg">
"As the older generation starts to sell up and move out, you'll see real change here. It will be really exclusive," selling agent Damon Anasta said.
"Like in Kangaroo Point (in Sydney’s Sutherland Shire), the change will happen almost overnight," he told the Southern Courier.
Within a stone’s throw of the developing infrastructure and amenities of neighbouring Little Bay, La Perouse is 14 kilometres from the CBD.
Randwick Council has recently upgraded the foreshore. The La Perouse tram line from the inner city closed in 1961 after about six decades in operation.
Anatsa door-knocked every house in Endeavour Avenue after he listed the recent offering but didn’t find any other home owners interested in selling.
“The most common response was: ‘You’ll carry me out in a box!’”
Presumably the reason no plans are yet mooted for McGrath to open its 49th office at La Perouse.
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Sportscaster Tim Gilbert puts La Perouse back on track after first house sale in two years fetches $1,595,000

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Melbourne was the capital city to record the highest monthly increase in June sales stock, rising by 6.1% during the month to a total of 55,293 listings for sale, according to SQM Research.
There was no change in Sydney.
The national total online residential listings was up by just 1.7% for the month, to a 386,857 total, which represented a 6.4% annual increase.
 
<img src="/images/stories/2012/07/55293.gif">
The number of residential properties currently on the market in Melbourne, according to SQM Research. This is up 6.1% from last month.
<hr>
 <img src="/images/stories/2012/07/32390.gif">
The number of residential properties currently on the market in Sydney, according to SQM Research. This is exactly the same as last month.
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<img src="/images/stories/2012/07/28700.gif">
The number of residential properties currently on the market in Brisbane, according to SQM Research. This is up 3% from last month.
 
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<img src="/images/stories/2012/07/19046.gif">
The number of residential properties currently on the market in Perth, according to SQM Research. This is up 1.4% from last month.
 
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<img src="/images/stories/2012/07/17480.gif">
The number of residential properties currently on the market in Adelaide, according to SQM Research. This is up 0.7% from last month.
 
<hr>
<img src="/images/stories/2012/07/4455.gif">
The number of residential properties currently on the market in Hobart, according to SQM Research. This is up 0.5% from last month.
 
<hr>
 
<img src="/images/stories/2012/07/3728.gif">
The number of residential properties currently on the market in Canberra, according to SQM Research. This is up 0.7% from last month.
 
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<img src="/images/stories/2012/07/1326.gif">
The number of residential properties currently on the market in Darwin, according to SQM Research. This is up 5.9% from last month.
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Melbourne listings jump 6.1% in June to 55,293: SQM capital city stock on market report

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Tanderra, one of Sydney’s few remaining houseboats and which dates back to the 1920s, has been listed for August 4 sale.
It was one of 32 houseboats moored in Middle Harbour near The Spit at Pearl Bay during the 1930s depression, but now there’s just four.  
A Mosman heritage study said the houseboats were "rare examples of a now unconventional form of living still in use".
 Maureen Young's Pearl Bay houseboat, aka HB8, has been listed after securing a 40-year lease with Roads and Maritime Services.
<img src="/images/stories/mosman/mosman.jpg" alt="mosman" width="470">
There was recent controversy when the Mosman deputy mayor Simon Menzies suggested it should be "towed out to sea and sunk" given its was a visual eyesore.
“It is visual pollution in one of Sydney’s most picturesque bays,” he said.
Young told the Mosman Daily it was badly in need of a makeover but she had been unable to renovate until security of tenure was finalised.
Young paid about $150,000 in 1983 and then rebuilt the 65-tonne pontoon. Its listing agent Sandie Dunn says Young bought the houseboat from adman John Singleton who then went onto buy the much-publicised Spec houseboat.
Tanderra is an Aboriginal word for resting place.
When the war began in 1939, there were 15 houseboats remaining on Sydney Harbour and then immediately after, with a housing shortage and high rents, houseboat applications soared.
The biggest houseboat colonies were on the Parramatta River, near Gladesville Bridge and Meadowbank, and on the Hawkesbury River at Berowra Waters. Catalina flying boat hulls were often used.
<img src="/images/stories/2012/07/houseboat.jpg">
There are three houseboats at Pearl Bay, including Spec and Lodestar, and a houseboat moored at Clontarf. The last known houseboat sale was Spec, an Ian Kiernan-designed floating home, in 1996.
Its listing agent Sandie Dunn won't be drawn on price.
<img src="/images/stories/2012/07/houseboat2.jpg">
Dunne, of Dunne Mosman, says the value of the houseboat was not in its structure but in the length of its lease and existing use rights status.
 <img src="/images/stories/mosman/more_mosman.jpg" alt="more_mosman" width="470" height="313">
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Pearl Bay, Middle Harbour houseboat Tanderra, which dates back to the 1920s, listed for auction

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The redundant Dover Heights home of Channel Seven Price Is Right presenter Larry Emdur – passed in on a $3.8 million vendor bid at its May auction attempt – has been sold.
No sale price has been revealed by the gameshow host.
It's taken nine months – with the ocean clifftop property initially listed for sale late last year after Emdur and his wife, Sylvie, upgraded to a $6.8 million Dover Heights clifftop residence.
<a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/auctions/larry-emdur-withdraws-redundant-dover-heights-holding-from-weekend-auction/2011102852109" target="_blank">Last October when Emdur pulled the house from auction</a> its price hopes were around $5 million.
The extensively renovated P &amp; O-style house was relisted recently with Daniel Baran and Reece Coleman of BHR Estate Agents, who had $4.2 million hopes.
It is set on 417 square metres, whereas the <a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/residential/larry-edmur-says-good-morning-to-breathtaking-cliff-top-property/2011090251402" target="_blank">Emdurs’ new home is on 1,062 square metres of clifftop land.</a>
The Emdurs have owned at Dover Heights since 1994 when they spent $770,000 on another clifftop property.
Baran's last landmark sale in Dover Heights was in late 2010 when $5.05 million was secured for the iconic Butterfly House on Military Road designed by Ed Lippman.
It had views over Sydney Harbour to the Bridge and Opera House. 
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After nine months, gameshow host Larry Emdur finally secures his desired Dover Heights price, but keeps it secret 

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The Carss Park mansion of the champion boxer Kostya Tszyu and his wife, Natasha, is under offer after its weekend auction following post-auction negotiations.
It had been listed with $3 million-plus auction hopes and passed in at $3.25 million through Mark Kourouche of First National Real Estate Greenacre.
There were six registered birders, with four bidders involved.
The highest price paid in Carss Park was $2.45 million in late 2008 for a five-bedroom, seven-bathroom house on a 1,865-square-metre Gnarbo Avenue block.
The Russian-born Tsyzu has never officially retired, although he hasn't fought since 2005.
<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/boxer-kostya-tszyu-seeks-to-knock-out-carrs-park-record/2012062655273">His six-bedroom, eight-bathroom residence </a>has been renovated and extended since the couple bought it for $785,000 in 2000. He had previously lived at Sans Souci.
The 2,400-square-metre Benwerrin Avenue property has resort-style facilities including a tennis court and heated saltwater pool.
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Boxer Kostya Tszyu’s Carss Park mansion under offer as former champ aims to knock out suburb record

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.

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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.

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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.

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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."

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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.

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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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