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WA police are investigating another attempt by an international scam to sell Perth residential properties without their owners' consent.
The attempt was intercepted by vigilant real estate agents who were approached to sell the home in Applecross.
The most recent matter arose last month when an Applecross real estate agency was contacted by someone claiming to be the owner of a rental property and requesting an urgent statement.
The property manager contacted the owner on file and realised it was a scam.
Other attempts have been made at Belmont and Subiaco.
The government reported that in the Belmont scam, people hacked into a home owner’s laptop computer through a Trojan virus and retrieved information on the owner’s investment property. The real estate agent who was managing the property was then contacted in an attempt to have the rental income diverted to an overseas bank account.
Police are still investigating the fraudulent sale of a Karrinyup home in September 2010 and a <a target="_blank" href="https://www.propertyobserver.com.au/western-australia/absentee-investor-alert-nigerian-scammers-sell-%24410000-house-they-didnt-own/2011081751195">Balcatta house early last year</a> where the overseas owners were renting the properties.
Police have tracked the Karrinyup scam to Nigeria and say the hundreds of thousands of dollars paid to them <a target="_blank" href="https://www.propertyobserver.com.au/news/perth-nigerian-scam-estate-agent-faces-disciplinary-action-for-lack-of-diligence-in-%24410000-sale/2012052854867">was transferred to a Chinese bank account.</a>
The WA Minister has congratulated the agents involved for their vigilance.
“Fraudsters have clearly been encouraged by the two previous successful scams in WA,” Commerce Minister Simon O'Brien said.
“These new attempts reiterate just how important it is that property and settlement agents apply rigorous scrutiny to all property transactions, particularly when they involve absentee owners and overseas vendors.”
The attempts follow the State Government’s move to strengthen industry codes of conduct late last year.

The new codes require agents to exercise greater care, skill and diligence when conducting identity checks on clients.

Consumer Protection has made identity verification training mandatory for all agents and WA Police conducts education seminars for the industry on this issue.

“Identity fraud and cyber crime is a continuing concern for authorities but awareness and vigilance are our best weapons to ensure fraud attempts are not rewarded,” Mr O’Brien said
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jchancellor-FAypfDUnLy

Vigilant Applecross Perth estate agency prevents another fraudulent house sale Nigerian scam

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With a 4.5% annual drop in house prices, Australia now ranks 44th in the world for house prices.
Overall global house prices were static in the first three months of 2012, the first time since late 2009 that annual price growth has slipped below 1%, according to the latest Knight Frank Global House Price Index.
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The index traces price movements across 53 countries. Australia was<a href="https://www.propertyobserver.com.au/residential/australia-slips-to-32nd-place-while-asia-remains-strong-in-house-price-index-knight-frank/2011090151383" target="_blank"> 32nd in September last year</a> and <a href="https://www.propertyobserver.com.au/news/australia-ranks-28th-on-house-price-index-list/2011062050537" target="_parent">28th in June 2011</a>.
Australia peaked as the fourth-fastest-growing property market in the world after a 20% price jump in the year to March 2010.
Ireland (down 16.3%), Greece (down 9.8%) and Portugal (down 8.6%) were the worst international performers, with house prices down in 58% of the countries on the index.
There was 0.9% overall growth in the year to March 2012 as doubts over the Eurozone's future, along with the Asian governments' staunch efforts to cool their markets have taken their toll.
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The major price growth came in Southern American countries, with Brazil recording the strongest annual growth of 23.5%.
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Knight Frank suggested the Asian tiger now resembled something of a domestic cat as far as house prices are concerned, mainly due to government efforts to cool price inflation.
The region recorded average annual price growth exceed 16% in the first quarter of 2010, but two years later the figure was closer to 2%.
The region's growth still exceeds the global average, but the margins have shrunk considerably.
Nicholas Holt, Knight Frank's director of research in Asia, says: "The Chinese housing market has had a tough 12 months as developers and purchasers alike have had bank finance squeezed as a consequence of the ongoing cooling measures. Lending restrictions, new taxes, the curbing of multiple property purchases, and new regulations to restrict the inward flow of hot foreign money have had the desired effect."
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Australia slips to 44th from fourth in past two years in world house price growth rankings: Knight Frank

No auction cash bonanza for Larry Emdur as prestige sale volumes slump in every state

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The last of the four terrace offerings on the current series of The Block 2012 has commenced its marketing.
The <a target="_blank" href="https://www.realestate.com.au/property-house-vic-south+melbourne-110681105">407 Dorcas Street</a> terrace  in South Melbourne (pictured below) is listed through RT Edgar agents Kent Morgan and Gerald Betts.
{yoogallery src=[images/stories/2012/05/june1block]}
It’s marketed as a four-bedroom terrace, whereas the other three terraces are being marketed as three bedrooms apiece. Dan and Dani have put the extra bedroom on the ground floor of their corner terrace.
“Inspired ideas by Dan and Dani, who responded best to the demands of the contest, add a designer edge to a totally transformed tri-level floor plan,” Morgan suggests.
Dan and Dani have turned the indoor rooftop space into a study, plus terracing as have the couple Sophie and Dale when renovating <a target="_blank" href="https://www.propertyobserver.com.au/renovating/sophie-and-dales-dorcas-street-terrace-challenges-brad-and-laras-for-title-of-the-best-on-the-block/2012052454828">401 Dorcas Street</a> at the other end of the block.
The properties at <a target="_blank" href="https://www.propertyobserver.com.au/renovating/hockingstuart-very-quick-out-of-the-block-with-channel-9-reality-show-south-melbourne-marketing/2012052254782">403 </a>and <a target="_blank" href="https://www.propertyobserver.com.au/renovating/buxton-bangs-on-about-having-the-best-in-the-block-s-dorcas-street-south-melbourne-offering/2012052254796">405 Dorcas Street </a>– renovated by Mike and Andrew, and Brad and Lara respectively – have top floor laundry and rooftop bars instead, plus terracing.

Like the other three terraces, inspection for buyers is by private inspection with no photography permitted during inspections given there are still room reveals to occur on the reality television show.
Public open for inspections will be held on Saturday 16th June and Sunday, June 17 between 10.00am and 3.00pm.
401 Dorcas Street
 
<img src="/images/stories/2012/05/401floorplan.gif">
 
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403 Dorcas Street
 
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405 Dorcas Street
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407 Dorcas Street
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Rootop study v bar, four bedrooms v three: Dorcas Street Block floorplans indicate the auction battlelines  

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{yoogallery src=[images/stories/2012/05/june1geddes]}

<img src="/images/stories/flagtitletat.jpg" style="float: left; margin: 5px;">
The internationally renowned photographer Anne Geddes, famous for her portraits of babies often in cabbage patches, and her husband, Kel, have listed their impressive Potts Point apartment. It’s in the Alex Popov-designed block Grantham, which has front-row views of Woolloomooloo Bay, Sydney Harbour and the Bridge, Opera House and CBD skyline. It’s been listed through Jason Boon and Geoff Cox of Richardson &amp; Wrench Elizabeth Bay presumably with $7 million or so expectations. There are just the eight whole-floor apartments in the 2010 completed Halcyon Group development. Each apartment occupies a whole floor and comprises three bedrooms and three bathrooms, two ensuite. There are two car spaces for each of the apartments, plus generous storage areas. The SJB Interiors introduced a mix of natural stone, bronze and timber.
<img src="/images/stories/2012/05/shellcove1.jpg">
<img src="/images/stories/flagtitletat.jpg" style="float: left; margin: 5px;">
The Priory, the monastic Neutral Bay harbourfront estate listed with $10 million-plus hopes, has been sold. The sale price accepted by retired United Artists executive turned property developer Ken Stevens and his wife, Judit, has not been revealed by the listing agents Christie's agent Ken Jacobs and LJ Hooker Mosman's Richard Harding. It last traded in 2001 for $4.35 million when bought from the former Worldschool director-turned-property-investor Ashley Owen and wife Julie, who had paid $2.8 million in 2000. The 1906 Federation residence on a 914-square-metre block comes with a waterfrontage of 32 metres – deemed as one of the widest available on the lower north shore. It’s no doubt been bought by boating enthusiasts, as the Shellcove Road property's facilities include a mooring pen, a large L-shaped jetty, an iron slipway and a boat shed with a home office above it. In 1926, when The Priory was owned by a religious order, a chapel was added. It’s now the dining room with vaulted ceilings, cedar panelling and an impressive sandstone fireplace. The four-bedroom house near Kurraba Point wharf comes with a self-contained guest apartment. There's talk its been sold at $8 million plus to a Mosman buyer.
<img src="/images/stories/liverpoolst.jpg">
<img src="/images/stories/flagtitletat.jpg" style="float: left; margin: 5px;">The Ingham family has sold its long-held apartment (pictured above) in The Connaught, a high-rise residential tower opposite Hyde Park in the city. McGrath agents Ben Forsyth and Ben Collier had $2.6 million hopes for the 24th floor three-bedroom apartment with a 17-metre balcony. Title Tattle recalls it last traded for $505,000 in 1984, the year the Liverpool Street building was completed. When the 239 apartments came onto a depressed market in the early 1980s, they were initially slow sellers and prices realised were quite low.
 
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{yoogallery src=[images/stories/2012/05/may31baker]}
 
<img src="/images/stories/flagtitletat.jpg" style="float: left; margin: 5px;">The hapless debt-laden Sydney socialite property developer Gary Baker has lost his latest attempt to escape bankruptcy. The Federal Court rejected his appeal that the April 2011 bankruptcy should be overturned because two lenders – Perpetual and Challenger – had misled him and sold his trophy properties off too cheaply. The overly ambitious developer – best known for white zinc on his smiling lips while driving a 1957 Ford Thunderbird around Sydney’s eastern suburbs – particularly blamed a sky-high $5,595,000 apartment valuation given in 2007 for misleading him into thinking his prestige property empire was worth more than even he’d concluded. Baker’s case on appeal was based on his unchallenged evidence that but for the misleading valuation, he’d have offloaded a Bellevue Hill triplex apartment (pictured above) when offered $4.25 million in early 2008 rather than forlornly await offers closer to the $5,595,000 refinancing valuation. But the Bellevue Hill apartment eventually yielded only $3,001,000 at a mortgagee 2010 sale to antiquarian booksellers – with Baker arguing that part of the $1,249,000 difference would have been sufficient for him to have avoided his financiers bankruptcy attempts in an outstanding damages claim. Baker has declared that he is living "at no fixed address (living with family and friends)''. News.com.au says his sequestration paperwork lists his main creditor as his wife, Karin Upton Baker, being owed $5.1 million. Title Tattle understands the couple's former abode, the unsold Elizabeth Bay penthouse is now occupied by renters, including Sydney nightclub owner James Miller.
<img src="/images/stories/mitchellst.jpg">
<img src="/images/stories/flagtitletat.jpg" style="float: left; margin: 5px;">Warringa, the 1880s McMahons Point residence (pictured above), has been sold by the Marshman family, who've bought the Surry Hills warehouse sold by Neville and Beryl Miles. Warringa had $5 million-plus hopes after failing to selling at its auction last month. The four-bedroom Mitchell Street house last sold at $2.4 million in 2000. The warehouse cost $5.71 million when bought at auction through McGrath agent Ben Collier in conjunction with Shannon Whitney at BresicWhitney.
{yoogallery src=[images/stories/april18gipps]}
<img src="/images/stories/flagtitletat.jpg" style="float: left; margin: 5px;">One of East Melbourne’s most elegant terraces houses (pictured above) dating back to the early 1860s remains listed for sale after failing to sell at its May auction. The Gipps Street terrace, currently home to Delwyn Freestone’s Chrysalis Gallery, comes with a striking all-white Classical Italianate Revival façade, the work of renovations in the 1880s by architects Terry and Oakden. It sold at $920,000 in 1999. Around $4.5 million was expected by Rob Vickers-Willis at Abercromby's Real Estate. Chrysalis Gallery will continue to open during the sale of 179 Gipps Street. The gallery will relocate at a date to be confirmed.
{yoogallery src=[images/stories/april11anchorage]}
<img src="/images/stories/flagtitletat.jpg" style="float: left; margin: 5px;">
Sanctuary Cove has a new record-setter mansion (pictured above). The Anchorage Terrace mansion, which came with adjusted $13.75 million price hopes on its April listing through Ray White Sovereign Islands agent Ali Mian, has reputedly been sold for around $12 million. It’s 1,000-square-metre mansion with a 43-metre river frontage. <a href="https://www.propertyobserver.com.au/queensland/sanctuary-cove-stunner-listed-with-%2413.75-million-price-tag/2012041154214">The house has symmetrical designer interiors</a>, from its grand double-wing staircase entrance to its heated pool. It has hallways reflecting the strong black-and-white palette of the French fashion house Chanel, the latest home technology system, plus tepanyaki bar, home cinema and Swarovski crystal chandeliers. The land was consolidated by tourism entrepreneur Chris Scott, who bought two neighbouring houses, and finished off by UK-based businessman John Baines and his wife, Elizabeth. They paid $4.3 million in 2009 for the shell of a home on its 2,836-square-metre holding, which then had a Greg Reid-designed house built by Thomas Hughes Construction. The Baines have previously sought $17.5 million for the property on earlier listings. The prior Sanctuary Cove record was $7.22 million on Bayview Terrace.
 
<img src="/images/stories/flagtitletat.jpg" style="float: left; margin: 5px;">Freemantle Football Club player Adam McPhee and his wife, Bree, didn’t sell their former Port Melbourne home at auction last weekend through RT Edgar agent Gerald Betts. The renovated traditional Victorian terrace was bought when the then Essendon player paid $885,000 when he moved from Ascot Vale in 2007. It has three bedrooms, two bathrooms plus secure car parking. There’s a rooftop terrace with views over the beach to Port Philip Bay. It went into the rental pool at $1,650 a week after his move west. The couple were hoping for around $2 million for the Beaconsfield Parade property.
{yoogallery src=[images/stories/november8collette]}
<img src="/images/stories/flagtitletat.jpg" style="float: left; margin: 5px;">
And hasn't Academy Award-nominated actor Toni Collette been in our faces this week with the CBA can/can't ad campaign. Of course <a href="https://www.propertyobserver.com.au/new-south-wales/toni-collette-faces-a-supreme-court-non-performance-claim-for-the-%24850000-difference-on-abandoned-paddington-purchase/2012053054902" target="_blank">Title Tattle has been following her many property plays of late </a>and next week her property settlement legal proceedings will be back in the Supreme Court list. Title Tattle revealed the likely quantum of the claim for non-performance of her once intended Paddington terrace. Collette and her musician husband, David Galafassi were set to pay $6.35 million for the Stewart Street house, which resold this week for about $5.5 million through McGrath agent Ben Collier. It's not known what defence the entertainment industry couple will mount to explain their alleged contractual non-performance. The new owner of the Paddington terrace is Ian Ball, the Ernst and Young accountant and chief executive officer of the International Federation of Accountants. And hats off to the Sydney Confidential sub-editors and advertising reps at the Daily Telegraph for their co-ordination!
<img src="/images/stories/2012/05/collettead2.jpg">
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Baby photographer Anne Geddes' Potts Point bundle of joy on the market: Title Tattle

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Elouera, the rare oceanfront reserve acreage at Gerroa, has been sold under the Ray White hammer at $5.03 million.
The stunning 21-hectare pasture property was sold by the Emery having been owned by the family since 1922.
The family farm was originally 50 hectares, with some of the family still retaining some adjoining farmland.
There had been $2.75 million-plus hopes for the property through Neil Campbell at Ray White Gerringong.
“The north-facing property offers numerous sites where to build a dream home with magnificent views,” Campbell’s marketing advised.
There were seven registered bidders, and the buyer intends to build a holiday home.
 
 
 
 
 
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Oceanfront Gerroa acreage Elouera sells for $5.03 million to holiday home buyers

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The hapless debt-laden Sydney socialite property developer Gary Baker has lost his latest attempt to escape bankruptcy.
The Federal Court yesterday rejected his appeal that the April 2011 bankruptcy should be overturned because two lenders – Perpetual and Challenger – had misled him and sold his trophy properties off too cheaply.
The overly ambitious developer – best known for white zinc on his smiling lips while driving a 1957 Ford Thunderbird around Sydney’s eastern suburbs – particularly blamed a sky-high $5,595,000 apartment valuation given in 2007 for misleading him into thinking his prestige property empire was worth more than even he’d concluded.
{yoogallery src=[images/stories/2012/05/may31baker]}
Baker’s case on appeal was based on his unchallenged evidence that but for the misleading valuation, he’d have offloaded a Bellevue Hill triplex apartment (pictured above) when offered $4.25 million in early 2008 rather than forlornly await offers closer to the $5,595,000 refinancing valuation.
But the Bellevue Hill apartment eventually yielded only $3,001,000 at a mortgagee 2010 sale to antiquarian booksellers – with Baker arguing that part of the $1,249,000 difference would have been sufficient for him to have avoided his financiers bankruptcy attempts in an outstanding damages claim.
Baker also argued Perpetual’s sale as a mortgagee in possession of an apartment in Notts Avenue, Bondi Beach, was at allegedly substantially less than it was worth, and that Perpetual was in breach of its duties as mortgagee and should pay him damages.
While Justice Anna Katzmann ruled partly in his favour, it was not enough to overturn the April 2011 bankruptcy sequestration order.
“Mr Baker has had a measure of success but, on the critical issue of the value of the claim he relies on to offset the debt the subject of the creditor’s petition, he has failed,” her honour ruled.
“Mr Darke was the lawyer, who although ultimately did not prevail, gave Mr Baker the best hope he had, and his submissions, both oral and in writing, were of a very high standard.”
Baker’s barrister Matthew Darke unsuccessfully argued there was sufficient cause to dismiss the creditor’s petition against him given his cross claim for damages.
It was argued the Federal Magistrate had erred in failing to dismiss or adjourn creditor’s petition because of debtor’s cross-claim.
His barrister also argued the Federal Magistrate erred in finding that the likely value of Baker’s cross-claim against his lenders fell significantly short of the judgment debt to the bankruptcy notice.
The <a href="https://www.propertyobserver.com.au/https://www.austlii.edu.au/au/cases/cth/FCA/2012/553" target="_blank">appeal proceedings</a> related mostly to matters relating to Baker’s Benelong Crescent, Bellevue Hill triplex project.
In March 2007 Baker engaged a real estate agent to sell them, with estimates that unit one would sell for $4.2 million, unit two for $4 million and unit three for $4.1 million.
In April 2007 they sold unit one for $4.2 million, and in May 2007, they sold unit two for $4.75 million, with unit three unsold.
In late 2007 Baker was considering refinancing a loan secured over unit three with the outstanding debt then being around $3.7 million.
Craig Hitchings of Challenger Commercial Lending Ltd offered a loan to Baker’s Garbake Pty Ltd from Challenger and Perpetual, which had a valuation by LandMark White (NSW) Pty Ltd of $5,595,000 (excl GST).
In early 2008 Baker rejected an offer to purchase for $4.25 million but it didnt then sell until late 2010 when sold in a mortgagee sale for $3,001,000.
Baker claimed by Hitchings’s conduct, Challenger had made a number of misrepresentations to Baker, including that the market value of unit three was $5,595,000 (when it was less than that), and that the LandMark White valuation was the product of due care and skill (when it was not).
Baker suggested the making of these misrepresentations was alleged to have constituted misleading and deceptive conduct by Challenger, which had caused Baker loss and damage by inducing him to reject the early 2008 offer to purchase the Benelong Crescent property for $4.25 million.
Gary Baker is married to Karin Upton Baker, the managing director in Australia of Hermes.
Buyers of his luxury apartments built in the eastern suburbs over the years included publicist Ro Markson, the Byron Bay identities Duncan and Sally Mount and the deputy treasurer of IAG Group, Mark Gold, and his wife, Deborah, the regional director of marketing at the Hilton.
 
 
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Hapless Sydney property developer Gary Baker facing bankruptcy after blaming his valuers fails

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Beachfront house sales along Mermaid Beach have signalled to Ray White Surfers Paradise boss Andrew Bell that there's been a "levelling" of prestige prices.
Last month a $5.3 million sale on the Mermaid Beach beachfront was secured through Ray White agent Michael Willems with a Queensland buyer buying the six-bedroom house on 769 square metres. It last traded at $6 million in 2006.
It has 19 metres of beach frontage on Hedges Avenue.
<img src="/images/stories/hedges1.jpg">
Bell suggests the Gold Coast peaked in 2006, with prices dropping by sometimes around 50% for the top end and 20% for other stock since then.
It was among the 33 properties sold at two Ray White Gold Coast auctions last month.
"A Sydney or Melbourne market would be very happy with that type of clearance rate," Bell says, noting he had 51 auction listings.
The Commonwealth Games decision plus the recent interest rate direction were contributing to the slight shift in buyer activity, he says.
The shift started late last year, Bell told Property Observer.
"I am sensing there is a floor in the market," he says.
"Bargain hunters are evident, but they are more likely finding fair value than bargains."
The region has experienced many prices in freefall since shortly after the global financial crisis, which Bell describes as a "reality check.''
Bell told the Gold Coast Bulletin that although the market was well off boom-time highs, there was a new level of positively in the air.
"I think things like the interest rate decisions and the success in the Commonwealth Games bid have given people some confidence in the city.
"The past decade the market was dominated by local buyers who made money out of the property market,” he said.
"We are starting to see a more subdued buyer ... more conservative versus entrepreneurial buyer," he said.
The biggest volume of buyers to the Gold Coast currently were from Brisbane, then Victoria, NSW, Gold Coasters and then the overseas buyers.
Some 193 registered bidders sought the offerings at the two auctions.
Another Mermaid Beach sale was secured shortly after its recent McGrath auction with the Breakfree founder Tony Smith paying $7.3 million on Surf Street.
Its selling agent John Natoli said the discounting represented great buying opportunities – "probably the best I have seen in 19 years,” he told Fairfax Media.
Tony Smith was reported to have said he thought the property would have been worth more than $20 million during the boom.
The Gold Coast has also been <a target="_blank" href="https://www.propertyobserver.com.au/queensland/sanctuary-cove-mansion-sale-sets-new-reputed-%2412-million-record/2012053054896">bouyed by the reputed $12 million sale of an inland Sanctuary Cove waterfront house through Ray White.</a>
 
 
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Prestige Mermaid Beach home sales suggest a ‘levelling’ of prices: Ray White Surfers Paradise boss Andrew Bell

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The Paddington terrace over which Academy Award-nominated actor Toni Collette and her musician husband, David Galafassi, face property settlement legal proceedings has been resold for about $5.5 million.
So the entertainment industry couple now know the $850,000 quantum of the claim against them, having been sued over their alleged failure to settle on their once intended $6.35 million purchase.
The next directions hearing before the equity registrar into the contested matter is scheduled for the NSW Supreme Court next week. <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/fickle-toni-collette-being-sued-over-property-change-of-heart-in-paddington/2012031353824">The initial directions hearing into the matter was in mid-March.</a>
<table cellpadding="0" cellspacing="0" border="1" style="width: 470px;">
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<td valign="top">
Date
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<td valign="top">
Time
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<td valign="top">
Jurisdiction
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Court
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Case Title/Party
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Case Number
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<td valign="top">
06 Jun
</td>
<td valign="top">
09:00
</td>
<td valign="top">
Civil
</td>
<td valign="top">
Supreme
</td>
<td valign="top">
Susan Kelly v David Anthony Galafassi (David Anthony Galafassi)
</td>
<td valign="top">
201200021377
</td>
</tr>
<tr>
<td valign="top">
06 Jun
</td>
<td valign="top">
09:00
</td>
<td valign="top">
Civil
</td>
<td valign="top">
Supreme
</td>
<td valign="top">
Susan Kelly v David Anthony Galafassi (Toni Galafassi)
</td>
<td valign="top">
201200021377
</td>
</tr>
</tbody>
</table>
It is not yet known what legal defence the couple can or can't mount to justify their alleged contractual non-performance.
The new owner of the Paddington terrace is Ian Ball, the Ernst and Young accountant.
Collette is currently appearing in the Can/Can't advertising campaign for the Commonwealth Bank.
It was last October when the entertainment industry couple acted on their property upgrade desire, after ascertaining the renovation costs on their Bronte house didn't justify the location.
They instead signed a contract to reputedly buy a double-fronted Paddington terrace from Susie Kelly, the co-founder and owner of Industrie clothing with her husband, Nick, for a rumoured very bullish $6.35 million, a record for the southern side of Oxford Street.
After finding a buyer of their redundant unrenovated Bronte house proved even more difficult than anticipated, <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/fickle-toni-collette-being-sued-over-property-change-of-heart-in-paddington/2012031353824">Collette and Galafassi are accused of changing their mind on the Paddington purchase</a> instead <a target="_blank" href="/news">buying again at Bronte </a>for $5.5 million, with NAB funding, from the eventual buyer of their own $3.5 million Bronte house.
Their <a target="_blank" href="https://www.propertyobserver.com.au/overseas/toni-collette-comes-close-to-settling-one-property-episode-in-hollywood-but-paddo-still-pending-title-tattle/2012051554711">property predicament even spread to Hollywood</a>, as the couple recently accepted an undisclosed offer on their Los Angeles pied a terre, which they bought in late 2010 for $1.33 million. They had been asking $1.325,000 for it.
The Paddington terrace house was sold again through McGrath agent Ben Collier in a deteriorating prestige market.
Designed by architect Anthony Gill and completed in 2009, the five-bedroom, four-bathroom house on a 360-square-metre block sold for a record for the southern side of Oxford Street, Paddington.
Consisting of two classic Victorian terraces combined into a palatial single residence, the contemporary tri-level family retreat had been reinvented after the merger of two terraces costing $2.15 million in 2003 and $1.865 million in 2005.
Their 1885 Bronte weatherboard cottage that cost $4.4 million in mid-2009 sold for $3.5 million through its McGrath Estate Agents listing agent Bethwyn Richards.
Property lawyers say the Supreme Court could find the Paddington contract binding and the entertainment industry couple could be forced to pay the shortfall, plus costs.
 
 
 
 
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Toni Collette faces a Supreme Court non-performance claim for the $850,000 difference on abandoned Paddington purchase

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The Pakenham racecourse site has been sold to the Industry Superannuation Property Trust for $30 million plus.
The Melbourne-based ISPT was one of three final bidders for the property when last listed in early 2011, after which the conditional sale to the Corcoris Group fell through. It was at a reputed $38 million.
The 27-hectare site about 55 kilometres south-east of the Melbourne CBD is expected to be carved up into 500 house lots after the state government rezoned the racecourse to comprehensive development zone in 2010.
ISPT chief executive Daryl Browning told the Pakenham Gazette the site would be developed in line with the company’s development philosophies of quality, sustainability, and community.
ISPT is co-owned by 24 of Australia’s superannuation funds and invests the superannuation savings of more than 40% of the Australian workforce in property.
It has more than $7 billion in assets under management.
The racecourse, which dates from 1926, was sold through Gerard Collins Real Estate director Derrick Brown, who also had a hand in the sale of the 243-hectare property at Tynong, which the racing club secured in 2008.
Pakenham Racing Club will host its first meeting at its planned Tynong track in the spring of 2014, with its last meeting at the current track in early February.
The Pakenham Racing Club is one of a few race clubs in Victoria that owns its own racecourse site, boasting a net asset base of more than $50 million and annual profitability in excess of $2 million.
Currently racing 11 meetings a year, the club’s new location will result in an increase to 24 race meetings in its first season.
 
 
</body></html>

Pakenham racecourse site sells to ISPT for more than $30 million

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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