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Teralla, the occasional former Double Bay residence of embattled Gold Coast merchant banker Mark McIvor, the former managing director of Equititrust, has been listed by receivers.
Set on a 746-square-metre Cooper Street block, the four-bedroom Victorian house was bought by MM Capital Pty Ltd for $4.7 million in 2005. Laing+Simmons Double Bay agent Bart Doff could be expected to secure more than its last sale price given its renovation alone when offers close May 29. There was a huge crowd at Saturday's first open for inspection after the local paper gave it a big write-up.
Some were also taking a look at a nearby Cooper Street townhouse terrace development where sales of between $2.55 million and $3.05 million have been achieved since April last year through 1st City - Hasemer + Caldwell.Eyles in conjunction with David Newgrosh Real Estate.
Teralla has been vacated by tenants in recent times but has been furnished for its marketing campaign.
The Alex Popov-designed, <a target="_blank" href="https://www.propertyobserver.com.au/queensland/former-equititrust-boss-mark-mcivor-lists-popov-designed-gold-coast-home/2011081651176">Cronin Island Gold Coast home of McIvor and his wife, Stacey, sold to Fulton Transport boss Gary Fulton</a> earlier this year, with the official paperwork showing a $6.75 million price, which stumped seasoned Gold Coast property experts, who'd imagined something closer to its $ 4.4 million auction passed in highest offer.
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jchancellor-FAypfDUnLy

Receivers list Mark McIvor’s former Double Bay residence Teralla 

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The Newport home of Manly Sea Eagles co-captain Jamie Lyon is on the market with $1.15 million-plus hopes, with Jamie and wife Ellie off to Warriewood, where they are building a new home.
The couple hope to be in their new Sydney's northern beaches home before the start of the 2013 football season.
They paid $1.042 million in 2006 and have just finished a renovation on the four-bedroom, two-bathroom Crescent Road property with large open kitchen.
The Newport home will be auctioned on May 12 through Nik Vuko of Domain Residential. The couple tried to sell it for $1.1 million plus in late 2008.
 
 
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Manly Sea Eagles co-captain Jamie Lyon selling Newport nest: Title Tattle

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The lower north shore enjoyed a slight price revival during the March quarter, according Residex, being the strong Sydney precinct. Houses prices rose on the lower north shore by 3.79% during the first quarter of 2012 to a $1,424,500 median value. Most of the growth came during the month of March.
Click to enlarge
<a title="Click to enlarge" href="/images/stories/residexmay71.gif" rel="shadowbox"><img src="/images/stories/residexmay71thumb.gif"></a>
The next strongest precinct was Campbelltown – up 2.74% to a $361,000 median in the March quarter.
But the strongest performer over the year – amid the six precinct with positive annual growth – was Liverpool/Fairfield, with annual price growth of 3.13% to a $459,500 median. Canterbury-Bankstown was the next strongest annual performer, up 2.44% to a $583,000 median value.
Inner Sydney was narrowly pipped by the southern outskirts of Sydney when it came to the strongest 10-year growth, with the southern localities - postcodes 2571 to 2639 - averaging 6.59% annual growth to its $354,000 median value, narrowly eclipsing inner Sydney's 6.15% rose to a $903,500 median value.
Photograph by Emmett Anderson, courtesy of <a target="_blank" href="https://www.flickr.com/">Flickr</a>.
 
 
 
 
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Lower north shore prices revived slightly in March: Residex 

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Lower RBA inflation forecasting has prompted Bill Evans, the Westpac chief economist, to conclude today’s RBA statement of monetary policy (SoMP) makes the prospect of earlier rates cuts than he’d anticipated.
“The case for another rate cut has already been made, and every board meeting through the course of this year must be seen to be very much alive,” Evans says.
“We had expected that the 50 bp cut would be in two tranches in August and November.
“This RBA statement now indicates to us that these cuts can be expected earlier by the end of the September quarter, being concentrated in that July–September window.”
Savanth Sebastian, an economist at CommSec noted the door had been left open for further rate cuts with CommSec pencilling in a quarter per cent rate cut in August.
"However the focus on inflation has now shifted from prices to cost pressures," Savanth Sebastian noted adding that subdued wage costs and/or an improvement in productivity will ensure that the Reserve Bank has scope to comfortably cut rates further in coming months, if it is deemed necessary to stimulate activity.
Evans says the monetary policy statements make it quite clear that the case for another rate cut has already been made.
“In the February SoMP the Bank forecast underlying inflation in the year to December 2012 at 2.5%.
“That has now been reduced to 2%.
“Forecasts to December 2013 appear to be broadly unchanged with 2.5% being replaced by 2–3%.
“The forecast for June 2014 has been reduced from 2.5–3% to 2–3%.
“We find these forecast revisions significant since it is very rare that a central bank would forecast inflation at the bottom of the band over the course of the current year.
“On our figuring the bank is assuming a print for underlying inflation in the second quarter of 0.7% falling to an average of 0.5% in the third and fourth quarters.
“The other significant development is that there is no longer concern that inflation will necessarily reach the top half of the 2 to 3% band in the year to June 2014.”
“The bank’s decision to forecast that underlying inflation (excluding carbon price) will remain at the bottom of the 2 to 3% band over the course of 2012 is a very strong signal that it retains an easing bias.
“Since 2005 when the Bank began producing inflation and growth forecasts there have only been two SoMPs when it has forecast inflation to be at the bottom or below the band over the next year or so.
“That was in May and August 2009 in the aftermath of the global financial crisis,” Evans says.
“Admittedly, the cash rate had bottomed out by then but cuts totalling 425bps had been rapidly delivered as the economy lost momentum.
“In this current episode the bank's growth forecasts are more upbeat but in recognising that inflation will remain at the bottom of the band (despite trend growth) the signal is clear that there is ample scope for further monetary easing,” Evans says.
 
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Next RBA rate cut could be as early as July after inflation forecast revision: Bill Evans

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The RBA says the ratio of dwelling prices to income is back around its 2002 level, in its latest statement on monetary policy.
Weak demand has been reflected in a fall in Australian capital city dwelling prices of around 6% since their peak in early 2011 and low housing turnover.
“Notwithstanding this, it appears that in recent months dwelling prices might have been declining at a slower rate.
<img src="/images/stories/rbamay41.gif">
“With declines in dwelling prices, the ratio of dwelling prices to income is back around its 2002 level,” the central bank notes.
It notes slower growth in housing debt has been associated with weakness in the housing market.
In contrast to dwelling prices, the RBA notes various measures of rents grew by 4% to 5% over the year.
Reasonably strong rental growth, together with falling dwelling prices, has lifted rental yields to around ½ percentage point above their mid-2000s level.
<img src="/images/stories/rbamay42.gif">
The report noted rental vacancy rates have been around 2% since 2009, above the very low levels seen in 2006–08 but still low by historical standards.
The report also noted residential building activity fell over 2011 to be around the lows of some earlier cycles in dwelling investment.
The weakness in residential building activity reflects a number of factors, the RBA suggests, including declines in established dwelling prices, having made households reluctant to commit to new contracts to build.
Also, in recent years, the RBA notes lengthy planning processes and arrangements for infrastructure provision have increased the cost of new dwellings.
<img src="/images/stories/rbamay43.gif">
The reported notes a range of initiatives have been undertaken by state governments to address these issues, including reviews of planning systems, the release of infrastructure plans and caps on infrastructure charges.
Despite recent decreases in housing prices relative to income and increased rental yields, forward-looking indicators suggest that there is little prospect of an imminent recovery in housing construction.
<img src="/images/stories/rbamay44.gif">
Approvals for new dwellings have continued to trend downwards in early 2012, especially for higher-density housing.
It notes this has followed the run-up in approvals in 2010 that was concentrated in Victoria.
Approvals for detached houses are at low levels in all mainland states, notwithstanding a recent increase in Queensland that can be partly attributed to the state government’s building boost grant for new dwellings.
 
 
 
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Dwelling price-to-income ratio at 2002 levels: RBA

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Westpac has lowered its home loan rates by 0.37 of a percentage point, less than the Reserve Bank of Australia’s supersized official 50-basis-point cash rate reduction on Tuesday.
Westpac's new mortgage rate will be 7.09%.
The cut is less than <a target="_blank" href="/news">Commonwealth Bank</a>, but more than <a target="_blank" href="https://www.propertyobserver.com.au/overseas/nab-first-of-big-four-banks-to-cut-rates-with-032-percentage-point-cut/2012050254522">NAB</a>. ANZ customers will have to wait until next Friday to learn what the bank will do.
 
 
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Westpac cuts standard variable rate by 0.37 percentage points

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The O’Farrell government has backtracked on plans to push much of Sydney’s future population housing growth out to the urban fringe Its Metropolitan Strategy discussion paper suggest 70% of new homes built in Sydney over the next four years will be in existing areas, and 30% in the urban fringe.
This differs from comments last year by NSW Premier Barry O’Farrell, who indicated a 50-50 balance. The paper calls for submissions to shape the city’s projected 5.6 million ­residents by 2031. This is 700,000 more than the previous 2005 strategy anticipated.
NSW Planning Minister Brad Hazzard says the ratios are a moot point when the state was ­falling far short of its house building targets.
“These are just the figures provided by the various agencies and certainly don’t change the view of the government that we want ­housing anywhere we can get it,” he told Fairfax Media.
“The figures that floated around last year should be treated in the context that they were 70/30 and 50/50 of effectively nothing.”
Urban Taskforce chief Chris Johnson says it is “good to see that a realistic forecast for around 70% of new dwellings to be in infill sites was included rather than earlier statements of a 50/50 split". “The discussion paper on Sydney’s Metropolitan Strategy is a good move by the government as it will align planning with transport and infrastructure strategies,” Johnson says.
Hazzard says the final strategy paper, which is due by the end of 2012, could have legislative backing to ensure the necessary infrastructure and housing were built.
It's anticipated to integrate with the Long-Term Transport Master Plan and Infrastructure NSW’s 20-year State Infrastructure Strategy in an attempt to avoid a repeat of Infrastructure Australia refusing to back proposals by the former NSW Labor government.
The paper says 80% of new homes built in Sydney in recent years have been apartments, but there was still an unmet demand for semi-detached homes in middle and outer areas.
Sydneysiders are being invited to have their say on the future plans for growth, homes and jobs in the metropolitan area over the next 20 years at <a href="https://haveyoursay.nsw.gov.au/metrostrategy">https://haveyoursay.nsw.gov.au/metrostrategy</a>.
 
 
 
 
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O’Farrell government backtracks on 50% of Sydney’s future housing growth in urban fringe

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By coincidence two Noosa properties that virtually bookend the national park have been listed for sale.
One is a Little Cove holding, the other is at Sunshine Beach.
<img src="/images/stories/noosabookends.jpg">
Both vacant lots are listed through Peter Butt at Richardson &amp; Wrench Noosa.
The 9,942-square-metre Seaview Terrace, Sunshine Beach holding, known as Lion’s Head, last sold in 2002 for $4.35 million and comes with $8 million hopes. It comes with a proposed ultra-contemporary designed residence by Gavin Maddock.
The Park Road, Little Cove holding has a $4.25 million asking price, having cost $1.75 million in 1999.
It’s the original site of Coco's restaurant, consisting of two lots totalling 1,131 square metres, which Butt suggests are suitable for redevelopment as two houses or a single extraordinary home, subject to council consent.
 
 
 
 
 
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Two Noosa properties bookending national park listed

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<img src="/images/stories/coronation.jpg">
<img src="/images/stories/flagtitletat.jpg" style="float: left; margin: 5px;">
Mosman’s prestige price misery continues as the big-bonus deprived Macquarie Group executives continue to sit out the suburb's rather clubby property merry-go-round. The latest sale is a 9% drop incurred by publishing supremo Kevin Weldon. Weldon paid $8 million in 2008 for the then soon-to-be-completed Coronation Avenue, Mosman, residence (pictured above) developed by Stephen McMillan, the managing director of Citta Property Group. Carinya, the Phillip Cox-designed house has been bought by Mayumi Staley, the daughter of engineer Russell Staley, who made a fortune through mining consultancy company, WorleyParsons. Title Tattle notes at least finally there is some convergence of the two speed economies. It sold through LJ Hooker agents Geoff Smith and Ricgard Harding.
<img src="/images/stories/flagtitletat.jpg" style="float: left; margin: 5px;">Just down the avenue, the Mosman residence of theatre producer and promoter Harley Medcalf and his wife, Maria, remains listed with $4.5 million hopes. It was initially listed for November auction through Ray White Lower North Shore agents Kingsley Yates and Dino Gatti. Designed by Harrington Architects and reminiscent of a luxurious tropical resort, the two-storey, four-bedroom house is in lush north-facing gardens. It comes with a heated swimming pool and an entertainment cabana. With his shows regularly on Broadway, the Medcalfs are selling their home as they intend to spend more time in the United States. It’s also available for rent at $3,800 a week through Ray White agent Nic Yates.
{yoogallery src=[images/stories/march14iliac]}
<img src="/images/stories/flagtitletat.jpg" style="float: left; margin: 5px;">Dr Sarah Meachem, the former president of The Australian Society for Medical Research, has emerged as the $4,825,000 buyer of <a target="_blank" href="https://www.propertyobserver.com.au/victoria/hamptons-like-somers-beachfront-estate-illiac-sells/2012032053830">Illiac, the wainscoted Hamptons-like Mornington Peninsula residence</a> (pictured above) on a 1,965-square metre beachfront estate. It was sold by the Koco family. Set in sculptured coastal gardens, the secluded Somers property is just minutes from the Point Leo surf lifesaving club and Somers Yacht Club. With Californian timber beams along with tongue-and-groove panelling, the four-bedroom house was designed by Stephen Akehurst, complete with clifftop horizon pool and entertaining deck. There’s also a boathouse with kitchenette plus private jetty. It has views across bay to Phillip Island, Seal Rock and Nobbies. Michael Phoenix of RT Edgar Flinders was seeking a $5.9 million Somers record. The land last traded at $900,000 in 1999.
<img src="/images/stories/rothesay.jpg">
<img src="/images/stories/flagtitletat.jpg" style="float: left; margin: 5px;">Andrew Gray, a managing director at Archer Capital, and his wife, Emma, have emerged as the buyers of <a target="_blank" href="https://www.propertyobserver.com.au/residential/grand-bellevue-hill-mansion-rothesay-sells-for-more-than-%2413-million/2011121152783">Rothesay, the very grand 1896 Victorian Italianate home in Bellevue Hill</a>. It last traded in 1998 when the founder and executive chairman of the St Hilliers group, Tim Casey, and his wife, Anne Marie, daughter of the thoroughbred trainer Bart Cummings, bought Rothesay for $4,606,000 in 1998 from the Jagelman family. Having been extensively remodelled, Rothesay was listed with price hopes of $13 million through Ray White Double Bay selling agents Michael Finger and Craig Pontey. The three-level residence, crowned by a classic Italianate turret, has Thomas Hamel interiors. It’s one of the houses showcased in Hamel’s book, Residence, which was published in 2010 to international acclaim.
<img src="/images/stories/jagger2.jpg">
<img src="/images/stories/flagtitletat.jpg" style="float: left; margin: 5px;">Thomas Hamel interior devotees will no doubt be bidders when the extraordinary collection from Thomas Hamel Interiors and Martyn Cook Antiques goes under the Mossgreen Gallery hammer on May 20. The collection comprises 695 lots most from their private Sydney CBD apartment abode. There’s fine English and Continental antiques, an Andy Warhol signed screenprint of Mick Jagger (pictured above), Aboriginal art, decorative pieces of outstanding provenance like the French Gothic Revival breakfront bookcase once belonging to Lord Alistair McAlpine. Even a coveted, stylish Louis Vuitton trunk. Thomas Hamel is arguably Australia's pre-eminent interior designer, with an enviable client list both in Australia and internationally. Ditto Cook in the antique world. For more than two decades, they have assisted Australia’s seriously wealthy decorate their homes although their discretion prevents confirmation of it. There's a few pieces from other collections including Bruce Judge and John Schaeffer. The auction is being billed as allowing the long-time partners forge new and exciting separate paths. Despite splitting up romantically, the pair are on good terms and will still share Redfern business premises. The auction will free up space for Thomas Hamel's design business Residence to expand its furniture and fabric lines. And Martyn Cook will announce his new plans after the auction. Apparently there will be no actual property disposal.
<img src="/images/stories/mcphee.jpg">
<img src="/images/stories/flagtitletat.jpg" style="float: left; margin: 5px;">Freemantle Football Club player, Adam McPhee and his wife, Bree, have listed their former Port Melbourne home (pictured above) for May 26 RT Edgar auction. 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.
<img src="/images/stories/afpyacht.jpg">
<img src="/images/stories/flagtitletat.jpg" style="float: left; margin: 5px;">The Gold Coast millionaire businessman and property developer <a target="_blank" href="https://www.propertyobserver.com.au/industry-news/fast-cars-tax-schemes-and-tech-patents-developer-charged-over-alleged-%2463-million-tax-fraud/2012042654433">Michael Issakidis, who was last week charged over an alleged $63 million tax evasion and money laundering scheme</a>, has been allowed to return to his Sovereign Island mansion after posting bail of $1.5 million. But the authorities will hold on to more than $40 million in assets including his prestige vehicle collection of several Rolls-Royces, a Lamborghini and an Aston Martin along with two yachts, which were seized during the Australian Federal Police raid (pictured above and below). Issakidis was arrested at his waterfront mansion on April 24 and charged with conspiracy to deal in the proceeds of crime and conspiracy to dishonestly cause a loss to the Australian Taxation Office. The Federal Police allege Issakidis committed tax fraud through his medical company Neumedix and funnelled company funds through offshore accounts.
He initially faced Southport Magistrates Court, where he was refused bail and extradited to Sydney. He’s been granted bail on the condition he live at his Paradise Point home, to reappear in the Downing Centre Local Court on August 7. The Australian Federal Police and Australian Tax Office say the arrest was after a seven-month investigation under Project Wickenby, the federal government's pursuit of wealthy alleged tax evaders.
<img src="/images/stories/issikadis.jpg">
Pictures supplied by AFP
His bail conditions prevent him from contacting NeuMedix's co-founder and director Anthony James Dickson, who was arrested this week after he arrived on a flight from Dubai. It’s been alleged that he and his business associate fraudulently over inflated the purchase price of intellectual property then donated the tax losses associated with the depreciation of the intellectual property to a complex unit trust structure and thus earning fees in excess of $63 million over a three-year period. It’s further alleged these funds were then laundered through an account in the UK and numerous accounts in Hong Kong before being transferred back into Australia.
The website of NeuMedix says Michael Issakidis was the commercial connoisseur for NeuMedix. “A consummate statesman and pragmatist, Michael's legal background coupled with many years of property development provides a tempered prudence when assessing opportunities.” His wife, the Coast socialite Donrika, once starred in a memorable 60 Minutes segment on the A-List on the coast in the 1990s. With a downwards sweep of her hand, she indicated she was dressed in "Chanel, Chanel, Chanel."
 
 
 
 
 
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Misery in Mosman and developer Michael Issakidis posts bail and returns to Paradise Point: Title Tattle

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Bids closed this week for the Mantra Group offering by private equity firm CVC Capital Partners.
The hotel and resort owner-operator Mantra Group could reportedly fetch somewhere more than $400 million, according to the Australian Financial Review, or more than $600 million, according to the Sydney Morning Herald report. The Australian comes in with a $520 million estimate.
Archer Capital is reportedly among the bidders, along with potential trade buyers including the French giant Accor, which secured Mirvac Hotels &amp; Resorts in 2011. The publicly listed Amalgamated Holdings, and global players InterContinental Hotels Group and Stamford Land Corp, has been included among possible buyers.
CVC appointed UBS, a 40% co-owner of Mantra, as an adviser on the sale.
The Mantra Group operates more than 130 hotels and resorts across Australia and New Zealand.
Mantra’s earnings before interest, tax, depreciation and amortisation for 2012 will come in at $60 million, up from $45 million three years ago, according to the information memorandum.
A larger proportion of Mantra’s earnings now come from the CBD market.
 
 
 
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Bids close for resort owner-operator Mantra Group

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.

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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."

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&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.

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Jonathan Chancellor

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