<html><body>
The inclusion of Sydney in Savills landmark World Class Index highlights the city’s emerging standing in the world of prestige international property offering a safe haven for international investors, particularly from Asia.
The 2011 Savills report on the world’s 10 leading prestige property locations for international investors suggests Sydney is positioned to benefit from the both the “old” and “new” world economies that it bridges.
Savills NSW research director Simon Hemphill believes Sydney is seen as a stable old-world investment choice with a well-established luxury housing market, while also in close proximity to the booming new-world economies of Asia Pacific.
Luxury Sydney property also represents very good value on the global stage, according to Savills, which ranks Sydney as the cheapest location for global billionaires, while also offering the largest size of homes for the super-wealthy, at almost 1,900 square metres.
“Overall, Sydney still offers international investors great value and is extremely well-located to take advantage of Asian wealth if and when its policies restricting international buying are relaxed,” Hemphill says.
“Sydney is geographically very well placed to benefit from investment from frustrated Chinese and other Far Eastern investors, but they will need to open up their markets to such investors to trigger this,” according to Savills international research.
“The city’s undersupply of accommodation and high in-migration plus restrictions on new development, due to zoning and geography, are likely to keep prices the highest of any Australian city.”
Savills describes Sydney as beginning to display many of the common characteristics of the World Class city – constrained land supply, increasing pressure from overseas investors and high demand for prime accommodation – but it is unusual in offering very spacious living accommodation in relation to other leading international investment locations.
“Asian interest in residential developments within the Sydney metropolitan area is at an all-time high, with both Asian developers and private investors making substantial investments in the market,” Hemphill says.
“Anecdotally, almost a third of residential projects in the Sydney metropolitan area currently under construction or being actively marketed are owned by Asian development companies.
“Private investors from Asia also make up a significant portion of buyers for inner-city residential developments, such as the Frasers Property Central Park development in Broadway, in the Sydney market. Indeed, circa 25% of purchases made so far in the Central Park development were by south-east Asian private investors. This trend is set to continue, given the nature and location of a number of developments currently mooted in and around Sydney,” he says.
For more about Asian investors in Australian property, <a target="_blank" href="https://register.propertyobserver.com.au/foreign-investment-in-australian-property-markets/">download our free eBook.</a>
 
 
 
</body></html>

jchancellor-FAypfDUnLy

Sydney a ‘World Class’ city and a safe haven for Asian investors: Savills

<html><body>
Clyde Cottage, the one-time Queen Street, Woollahra childhood home of Dame Joan Sutherland, has been sold for $4 million. The much-admired yet dilapidated, house in a prime position on the cafe strip had last sold for $6.45 million in late 2007.
<img src="/images/stories/clydecottage.jpg">
The 803-square-metre property that comes with Stephen Dunkley-secured development approved plans will have its restoration and extension undertaken by Singaporean businessman Ronald Ooi,  who in January 2011 oversaw the sale of his 40-year-old family company the securities and investment broker, Kim Eng, for a sum of S$1.8 billion ($A1.35 billion) to Maybank.
Ooi, who had a 15% stake, has assumed a new role as executive advisor at Maybank Kim Eng, which has adopted the tiger symbol as its corporate logo. Clyde Cottage has been bought by Ooi and his wife, Erica. 
<img src="/images/stories/clydecottage2.jpg">
Clyde Cottage had been listed through Damien Bickmore-Hutt at Bickmore-Hutt Realty, who was initially seeking $6 million-plus buyers. Buyers were advised that the costs of repair and extensions were at least $3.75 million before landscaping based on a Heymann Cohen quantity surveyor report. A $5 million total project cost was forecast by the valuer Jason Smith who in 2009 envisaged a $15 million completion value.
The two-level, four-bedroom house became Sutherland’s home after her father died suddenly on her sixth birthday in the early 1930s. It was the home of her grandfather, Alexander Alston, a master builder who built the upper storey and extensions at the back. It currently has 270 square metres of space on both levels.
<img src="/images/stories/clydecottage3.jpg">
It was her home for 19 years – where she was inspired by listening to the voices of Dame Nellie Melba and Enrico Caruso on a borrowed gramophone. 
Its been reported Sutherland, as a child, sang to the birds from a swing under a camphor laurel tree in the backyard of Clyde Cottage, which is National Trust classified because of its historic importance and its architectural interest.
Several years before her death Sutherland noted: "Unfortunately, from the time my family gave up the house, the deterioration set in.”
</body></html>

Clyde Cottage, once home to Dame Joan Sutherland, sells for $4 million to Singaporean buyers: Title Tattle

<html><body>
Westfield has been awarded rights to develop, lease and manage the retail space at the Los Angeles airport, LAX, the sixth-busiest airport in the world and third in the US.
It’s a 17-year agreement with the Los Angeles Board of Airport Commissioners.
The forecast minimum revenue to Los Angeles World Airports (LAWA) is US$331.1 million over the full term, which comprises a two-year development period and a 15-year operational period.
Westfield and its concessionaires must invest no less than US$81.9 million in initial improvements and US$16.4 million in mid-term refurbishment improvements to four facilities: the existing Tom Bradley International Terminal (TBIT), the new TBIT currently under construction, Terminal 2 (LAX’s second-busiest international terminal), and the airport’s iconic Theme Building. The landmark Theme Building opened in 1961 with the building with observation level resembling a flying saucer on four legs.
The agreement covers a minimum of 7,828 square metres of concession area.
“Los Angeles World Airports is undertaking a US$4.11 billion modernisation program at LAX to improve customer service, safety and security at one of the most significant international gateways in the world,” advised LAWA executive director Gina Marie Lindsey in a Moodie Report update.
“Westfield is very proud to be selected to partner with Los Angeles World Airports in the transformation of Los Angeles International Airport,” says Westfield Group Chief Executive Officer Peter Lowy. “We are fully committed to bringing our global resources and development expertise to deliver an iconic, world-class airport experience.”
Westfield Concessions Management LLC was selected from three bidders.
Airport officials are planning to award another concessions management contract for terminals 1, 3 and 6 later this year.
Westfield currently has similar operations at nine other US airports, including New York/John F. Kennedy International, Boston/Logan International, Ronald Reagan/Washington National, Washington/Dulles International, and George Bush Intercontinental/Houston.
Westfield’s airport retail division has 16 years of airport concessions development and management experience at major US airports.
The group has investment interests in 122 shopping centres in Australia, the United States, the United Kingdom, New Zealand and Brazil, with a total value of assets under management in excess of US$59 billion.
In the US it has 55 shopping centres that are home to 9,000 specialty stores and comprise 5.85 million square metres of leasable space across the US.
In the Los Angeles area, it owns and operates nine shopping destinations including Westfield Century City, Culver City and Topanga.
LAX offers more than 600 daily flights to 91 domestic cities and more than 1,000 weekly nonstop flights to 56 cities in 32 countries on nearly 75 air carriers.
</body></html>

Westfield wins contract for LAX retail space

<html><body>
The glut of property sitting unsold on the market means 2012 buyers could find reduced prices in capital city markets given vendors face lengthy blowouts in the number of days on market before sale.
Premium housing has recorded the highest blowout in the average time on market before sale, according to a RP Data survey.
Perth’s Cottesloe houses are currently taking up to 160 days to sell, up by 74 days over the year.
The prestigious suburb of Mosman Park on Perth’s Swan River recorded a 59 day blowout in days on market with homes in the suburb currently taking about 123 days to sell.
“The inner areas of each capital city have often recorded some of the largest increases in the average selling time,” says senior researcher at RP Data Cameron Kusher.
“This reflects the broad trend of premium housing markets recording weaker conditions than lower-priced markets.”
“In regional areas – although coastal markets have been the weakest performers in terms of value growth – these markets have generally been underperforming for some time and in many instances have not recorded a substantial increase in time on market over the past year,” he says.
The data records the greatest increase over the 12 months to October 2011.
According to Kusher, with housing markets transitioning out of a growth cycle over the past 12 months and value falls experienced across most regions, vendors have found it increasingly difficult to sell their properties.
“We are now seeing an increase in the amount of stock available for sale where it has risen to record highs over the year.
“Vendor discounting levels have increased and the negotiation process has taken longer.
“Subsequently, the average time on market has risen across most regions,” he says.
Kusher notes unit markets within the outer suburbs recorded the greatest increase in time on market.
Across regional Australia, Plantagenet in south-west Western Australia has recorded the greatest increase in the average time on market for houses, with the average selling time increasing by 123 days over the past 12 months. The Plantagenet council area also has the highest average selling time for houses of all Australian council areas, at 235 days.
Regional areas of Western Australia, South Australia and New South Wales account for the vast majority of council areas highlighted.
The Central Coast council area on Tasmania’s northern coastline sandwiched between Burnie and Devonport recorded the greatest increase in the average time to sell for a unit over the year, with units now taking 166 days.
The time it takes to sell has increased by 104 days over the past year.
Across the regional areas of the country, seven council areas in both New South Wales and Victoria have been among those to record the greatest increase in average time on market, followed by six in South Australia.
 
 
</body></html>

Property taking longer to sell as stock levels hit record highs in some areas: RP Data

<html><body>
Keith Johnson, one of NSW's largest property developers, has headed to Bahrain to assist authorities gain an insight into the alleged international swindler Ahsan Ali Syed, who Johnson claims fleeced him of $3.6 million. Johnson says the money was handed to Ali's company Western Gulf Advisory (WGA) to obtain a $155 million loan in 2010 that never eventuated.
Melbourne lawyer Andy Bryce, who represents more than 15 Australian clients who have lost more than $30 million, has accompanied Johnson to Bahrain to present affidavits from several Australian victims to the Bahrain Public Prosecutor.
A Malaysian fraud victim has also been invited to present evidence to the public prosecutor this week.
In a judgement handed down on October 9, 2011, the Bahrain Chamber for Dispute Resolution ordered WGA and Ali Syed to repay Johnson $3.627 million plus interest. WGA has appealed the decisions of the BCDR, and the appeal was heard on January 23, 2012.
In previous hearings Johnson secured a freezing order in May against the organisation in Bahrain, although it is understood there were not huge funds within the accounts.
From his offices in Bahrain, Switzerland and more recently The Netherlands, Ali– whose website is still actively seeking clients – reputedly orchestrated a scam where upfront fees were paid for loans that never eventuated.
Ali's company <a target="_blank" href="https://www.westerngulfadvisory.com/our-investments.php">Western Gulf Advisory</a> claimed it had money in its Swiss coffers that could assist Johnson’s stalled NSW residential development projects.
SMH reporter Kate McClymont wrote that over the past few years, dozens of Australian businessmen, thwarted in their attempts to refinance loans locally, had made the fateful pilgrimage to Ali’s office in Bahrain, buoyed by the promise of a financial lifeline.
They met a sophisticated scam whereby Ali, a former Hyderabad, India lawyer, pocketed each borrower's 1.6% establishment fee.
The operators of Queensland's financially troubled Cubbie Group, the country's biggest irrigator, paid about $3 million in fees to WGA, according to The Australian.
New Zealand businessman Gary McNabb of McNabb Property Group and the collectable coin firm New Zealand Mint is another victim but his success in freezing WGA's accounts in Switzerland caused international sporting headlines with WGA subsequently defaulting on the purchase of Spanish La Liga team Racing Santander. The McNabb funding was intended to finance a $30 million hotel development in Auckland and the stalled $20 million tourism venture Waihi Gold Discovery Centre.
Australian fertiliser importer Interfert and Megafert were also caught in the web.
The Indian entrepreneur also briefly backed the English football team Blackburn in until several financial irregularities were exposed by the BBC. Ali's lawyer says some of the BBC's allegations are false and misleading.
WGA has rejected the fraud accusation, and at one point on the home page of the corporate website, Ali strenuously denies the allegations against him.
"Western Gulf Advisory Asset and Wealth Management, Western Gulf Advisory, based in Zug, Switzerland, and their founder and president Mr Ahsan Ali Syed strongly refute allegations about their businesses being propagated by the fraudsters," the website advised last year.
Bryce told Fairfax Media that as a result of WGA's fraudulent activities his clients had suffered further losses of about $100 million, with three companies having gone into liquidation.
''It's an international fraud,'' Bryce advised.
''There are inquiries under way with Interpol and the NZ Serious Fraud Office,'' as well by Swiss authorities, he said.
Leading a team of financial analysts, legal consultants and investment experts, Ali pitched WGA’s credentials at reversing financial inabilities of many companies hit by the credit crunch.
“Starting with an investment capital of US$53,000, the company is today worth US$275 million – becoming one of the most progressive companies from the Kingdom of Bahrain,” his website advised.
His website CV notes WGA was founded in 2008, following in the footsteps of his family, who have over 150 years of history in private sector lending across Asia.
“Mr Ali has been self-employed since the age of 16 and closed his first significant deal worth $1.5 million at the age of 18.
“Mr Ali now plays a role in the management and the boards of over 133 companies worldwide.
“Mr Ali considers himself and his company to be experts in turnaround stories by converting non-performing assets into performing assets.
“Between 2003 and 2004 he bought a Canadian company for C$ 565.000 and transformed it into a valuable vehicle worth C$ 8 million within only 16 months.
“Mr Ali’s expertise and professionalism is highly recognised in the financial world, which is why he acts as a financial adviser to sovereign wealth, royalty, as well as many high net worth individuals.
“Mr Ali understands entrepreneurial needs and prides himself on being a reliable partner for all his clients,” the website says.
“One of the main reasons he started his own asset management company was because he believed in his own ability and qualifications to manage and invest his own wealth carefully.
“Mr Ali strongly believes that investments are not just about profit-making and capital preservation but also about selflessness and creating social welfare,” the website says.
“Mr Ali holds a bachelor degree in law as well as a master degree in finance from universities in India as well as abroad.”
 
</body></html>

Keith Johnson in Bahrain to provide evidence against alleged financier swindler Ahsan Ali Syed 

<html><body>
Actor Nicole Kidman has scheduled a February auction to offload the last piece of her beachfront holding on the NSW far south coast. Kidman purchased the Rosedale holding as part of a $4 million outlay on the coastal strip in 2004. She has already recouped $3 million selling two of the properties to Canberrans.
The last portion is a vacant 1,009-square-metre block. It had been for sale since 2008 at $1.2 million plus through Michael Skuse of LJ Hooker Batemans Bay, who now has scheduled the property for February 11 auction.
Its LJ Hooker marketing says there are “stunning views of Rosedale Beach and Jimmys Island from this gorgeous beachside block”.
It has 21 metres of beach frontage on Knowlman Road.
“It’s the kind of land you will hold for generations,” Skuse’s marketing suggests.
It was 2004 when Angus Hawley, Nicole's then brother-in-law, first swooped into town by helicopter to bid on the rare beachfront offering offered by the Knowlman farming family from Goulburn, who had paid £35 in 1929.
Rosedale locals say Kidman has been there only a handful of times since 2004. Buyers are being told to expect to pay around $800,000.
</body></html>

Nicole Kidman auctioning last piece of far south coast NSW beachfront: Title Tattle

<html><body>
Jock Whittle has been appointed chief executive officer of the Macquarie Pastoral Fund, which runs the Paraway Pastoral Co.
The appointment follows a decision by the fund's former chief David Goodfellow to re-join Elders as group general manager for its Australian network. For the past 19 months the Elders network's management has been overseen directly by Elders chief executive officer Malcolm Jackman, who assumed responsibility for network performance on a temporary basis following disappointing performance results in 2009-10.
Whittle has been at the Macquarie fund since 2008 having previously been with Clyde Agriculture, Westpac and National Australia Bank's agricultural businesses.
After 30 acquisitions, the Macquarie Pastoral Fund has 3.5 million hectares of property in New South Wales, Queensland and the Northern Territory. The properties have a carrying capacity for more than 240,000 sheep and 220,000 cattle.
Its most recent acquisition was Hay, NSW property. It was part of TA Field Estates' Pevensey Station, west of Hay close to Mungadal Station which Paraway purchased in 2010.
The purchase took Paraway's land total in the western Riverina to more than 170,000 hectares since Paraway was formed five years ago.
A prominent former NSW Country rugby back rower, Whittle has a master of business administration degree from the Australian Graduate School of Management and a bachelor of science in agriculture degree from the University of Sydney after growing up on his family's sheep and cropping Wellington property in rural NSW.
</body></html>

Jock Whittle to head Macquarie Pastoral Fund

<html><body>
Actor Jodi Gordon, the fiancée of rugby league player Braith Anasta, has listed her redundant <a target="_blank" href="/news">Potts Point</a> apartment. The former Home and Away star has $625,000-plus hopes for the property.
It’s listed through her future brother-in-law Damon Anasta and Vanessa White, both estate agents at McGrath Estate Agents. They have it listed for private treaty sale without an asking price in its public marketing.
The two-bedroom, one-bathroom Springfield Palms unit is split level. It comes with two balconies.
Last year the Sydney Roosters captain Anasta sold his <a target="_blank" href="/news">Malabar </a>investment property. Listed with $1.25 million-plus expectations, the unrenovated five-bedroom house fetched $1.32 million through Richard Shalhoub of McGrath. It cost $1.18 million in 2003. Anasta then bought a $1.805 million <a target="_blank" href="/news">Clovelly</a> house through Raine &amp; Horne agent Graeme Anderson.
The couple are set to marry in October.
</body></html>

Actress Jodi Gordon lists in Potts Point as marriage to Braith Anasta draws near: Title Tattle

<html><body>
Asian buyers are expected to cast an eye over the tender documents for the Calderwood Valley Golf Course in the NSW Illawarra.
The 18-hole, par 70 Albion Park course was established in 1995 by the late Noel Smithers and his family, who enlisted golf course architects McKay and Sons to design the course.
<img src="/images/stories/calderwood2.jpg">
<a target="_blank" href="https://www.calderwoodgolfcoursesale.com/">The property</a>, located 20 minutes south of Wollongong, comprises 31 hectares of golf course and an additional 20 hectares, some of which is escarpment land and not able to be developed.
Two homes are on the holding, which straddles two local government areas – zoned 1 (a) agricultural with Shellharbour Council, and RU2 rural landscape with Wollongong Council.
Recreational land use as a golf course and accommodation has council approval in both municipalities.
{yoogallery src=[images/stories/jan24calderwood]}
It’s close to Delfin, Lend Lease’s approved 4,800-home Calderwood Valley Estate site. 
No price estimate was given for the property.
‘‘It’s rare to get a golf course, especially a profitable one like this, to sell, so it’s too early to even give an approximate on what this property could fetch,’’ agent Andrew Hedley from Bevans Thirroul told the Illawarra Mercury.
‘‘And what is different about this property as opposed to golf course fire sales, is that it is successful in attracting not only local players but also ones from Sydney and Canberra.’’
An adjoining 51-hectare farm is currently also for sale.
 
</body></html>

Asian buyers tipped to consider Calderwood Valley Golf Course in NSW Illawarra

<html><body>
A forecast that Australian property prices will fall 60% over the next few years has excited the Twitterverse.
The prominent property <a target="_blank" href="https://www.propertyobserver.com.au/residential/property-prices-to-fall-20-by-2013-year-s-end-steve-keen/2011101952000">doom commentator Steve Keen</a> has expressed ironic relief that another analyst has forecast even worse tidings than his longstanding forecast for the Australian property market.
United States analyst Jordan Wirsz forecast a 60% fall in Australian capital city house prices over the next five years.
<img src="/images/stories/keentweet.jpg">
“Thankfully someone taking the bear heat off me,” Keen tweeted today.
<img src="/images/stories/wirszwebinar.jpg">
Wirsz, a self-described author, speaker and real estate expert, <a target="_blank" href="https://trade-futures.com/australia_real_estate/australia_real_estate">gave a webinar on Australian property</a> this week. His webinar is available to be heard for $89.
News Ltd papers reported today his forecast that right now was not a time to be buying real estate in Australia.
“The market has slowed substantially but residential prices are likely to fall up to 60%, possibly even more, within five years," Wirsz said.
It reported his outlook was even grimmer for land, which Wirsz said being more speculative would plummet by as much as 80% and 90% in value.
Commercial property would shed at least 50% of its value, he told reporter Sonja Koremans.
Wirsz suggests a sluggish recovery would begin in 2016.
“If you are home owner, be cautious, get rid of your debt, consider selling if you don’t plan to be in your house for more than seven years and downsize or become a tenant," he said.
The only winners will be real estate agents cashing in on bank-owned properties, he added.
Properties in capital city would be hardest hit “because Australian cities are some of the most overvalued in the world and more speculative than regional areas", Wirsz said.
While the comments have been questioned by Tim Lawless at RP Data, other commentators have given the forecast some credence including economist, Stephen Koukoulas.
<img src="/images/stories/kouktweet.jpg">
“This looks ridiculously extreme: but many who've experienced a property crash still cannot explain why Aust is diff,” Koukoulas tweeted.
Wirsz says he has $500 million of real estate based transactions under his belt.
<img src="/images/stories/jordantweet.jpg">
Wirsz, a former fund manager and private capital financier, says he has been heavily involved and invested in real estate for over a decade.
“Jordan has seen the national real estate markets at their best, and at their worst.
<img src="/images/stories/wirszbookcover.jpg">
“Jordan has been featured on Fox News, CNBC, NBC, and many others, as well as having been recognized by members of Congress, Senate, and state government, awarded Young Entrepreneur of the Year by the SBA, Top 40 under 40, and has published four books,” his marketing screed says.
</body></html>

A 60% price fall - Incredible prediction of Australian real estate bloodbath excites Twitter

ASX-listed developer <a href="https://www.apartments.com.au/developers/stockland">Stockland</a>&nbsp;is continuing its push back into the new apartment market, filing plans for a prominent gateway site between Collingwood and East Melbourne.

The development giant, which moved back into the new apartment space when it announced Stanton Place in Sydney's Rosebery and have since filed plans for a 50-storey tower, are jumping into the off the plan Melbourne market.

They are hoping to create a mixed-use neighbourhood precinct for <a href="https://www.apartments.com.au/new-apartments/79-81-victoria-parade-collingwood-vic-3066">79-81 Victoria Parade</a>, replacing an existing commercial building with a scheme by <a href="https://www.apartments.com.au/architects/john-wardle-architects">Wardle</a>&nbsp;for 478 apartments,&nbsp;ground-floor retail, new public open spaces and a publicly accessible pedestrian laneway.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="72dbbca9-3918-4073-afad-a0c0c35be8e7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20pers.png?VersionId=bzMVUKKxvwuNK1m0v_td126Rgct32uk_" />

The design report identifies the public realm as a central driver of the proposal.

"Collingwood has limited access to high-quality parks and public open space, and the proposal delivers valuable new areas for respite, social interaction and fine-grain retail activity."

The development would deliver a diverse mix of housing, including studio, one, two and three-bedroom apartments alongside townhouse-style residences. Two basement levels are proposed beneath the development, providing resident and retail parking as well as extensive bicycle facilities.

Wardle's design draws heavily on Collingwood's industrial character, using articulated building forms, brickwork and robust materials inspired by the suburb's warehouse and manufacturing heritage. The built form has been broken into a series of smaller volumes to better respond to the surrounding streetscape while extensive communal gardens, rooftop amenities and shared resident spaces are integrated throughout the project.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="7b2135ed-65df-4253-ad53-f216f06bd467" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20podium.png?VersionId=l1B6Hqn8zs772VxH6L1fDPg0KHshan9v" />

The planning documents describe the existing office building as offering little engagement with the public realm, with the redevelopment intended to create a more permeable and active neighbourhood destination.

"The proposed scheme presents a significant opportunity to deliver a vibrant retail plaza and a local neighbourhood hub serving both existing and future Collingwood residents."

The 79–81 Victoria Parade site occupies a strategic location about 1.5 kilometres east of Melbourne's CBD, at the threshold between Collingwood and East Melbourne. It is well served by tram services along Victoria Parade and sits within walking distance of St Vincent's Hospital, Fitzroy Gardens, the Fitzroy activity centre and a broad range of employment, retail and hospitality destinations.

Joel Robinson

Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site

An 1880s timber cottage that has survived Kangaroo Point's transformation from riverside suburb to high-density apartment precinct is set to become the centrepiece of <a href="https://www.apartments.com.au/developers/zephyr">Zephyr Group</a>'s proposed Banksia development.

Rather than see the locally heritage-listed Alpha Cottage as an obstacle to navigate, plans integrate the landmark home into a new 18-storey residential tower, giving one of the suburb's oldest surviving residences a new role as the project's communal hub.

The development application covers a 1,177 sqm amalgamated site at 127-133 Lambert Street and 30 Shafston Avenue, where Zephyr Group plans to deliver 64 apartments above three basement levels. Designed by <a href="https://www.apartments.com.au/architects/joe-adsett-architects">Joe Adsett Architects</a>, the proposal carefully weaves the retained heritage cottage into a contemporary residential scheme, with the tower elevated above the historic building to preserve its presence within the Lambert Street streetscape.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="f9dc5bdb-d691-4c60-bf2b-c3ed405a3e75" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Banksia.png?VersionId=Jh4bjlewU.o8HXWt0V4KaFA_lPcF7KWM" />

Named after the native Australian Banksia flower, the project draws inspiration from its distinctive form through curved balconies, sculpted planter boxes and cascading subtropical landscaping that soften the building's profile.

As the design report explains: "The tower's identity is defined by its feature facade, drawing direct inspiration from the Banksia wildflower. The building departs from traditional rigidity through the use of elegant, GRC-moulded planter boxes that appear as if shaped by the breeze."

Plans propose 64 apartments, comprising 32 two-bedroom and 32 three-bedroom residences, across an 18-storey tower. Residents would have access to rooftop amenities including a swimming pool, spa, gym, sauna, private cinema, dining spaces and landscaped recreation areas, while more than half the site is dedicated to planting and open space.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="16041b5f-033e-47fa-8fbe-9886e072c1f2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pool.png?VersionId=kpx5w4EbLx0_TdWfDoD1vrSs0_cZ5Ao1" />

The heritage component is the defining feature of the proposal. Constructed in the early 1880s and occupied from at least 1883, Alpha Cottage is recognised by Brisbane City Council as an important surviving example of Kangaroo Point's nineteenth-century residential development and as a representative transverse-gable timber cottage. Despite extensive redevelopment across the peninsula, the building has retained a high degree of its original form and internal fabric.

As part of the redevelopment, the cottage will be carefully relocated a short distance within its original allotment to facilitate construction before being returned to a prominent position along Lambert Street. Original verandah elements will be dismantled, catalogued and reinstated, while significant internal features, including timber flooring, wall linings, joinery, doors, windows and hardware, will be retained. Later additions, including the enclosed rear verandah, will be removed to better reveal the building's original form.

Once restored, Alpha Cottage will accommodate the building manager's office, mail room and parcel facilities, providing an active everyday use that supports its long-term conservation rather than preserving it as a static display. The heritage strategy also maintains landscaped space around the building, allowing it to remain visually distinct beneath the new tower.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="43b027e1-576e-4624-a66c-7cc54ea8b7be" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/banksia%20tower.png?VersionId=2W6E2yfkj2AQlWlLeV986grA5zB9f817" />

The Heritage Impact Assessment concludes that "the proposal secures the ongoing occupation, maintenance and conservation of Alpha Cottage," finding the development would result in "no more than a minor impact on the cultural heritage significance" of the building while ensuring its long-term future.

Joe Adsett Architects have designed the tower to sit above the heritage building rather than overwhelm it, creating a clear visual separation between old and new. The development's flowing balconies, integrated planting and organic façade respond to Brisbane's subtropical climate while complementing the restored cottage below.

Banksia occupies a prominent corner in Kangaroo Point within walking distance of the Kangaroo Point Bridge, Brisbane River, ferry services, QUT, the CBD and the Woolloongabba precinct. The site also benefits from direct access to active transport infrastructure and sits within an area earmarked for continued higher-density residential growth.

Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage

Buying into a masterplanned community often means committing to a vision still years from taking shape. At <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>, that vision is already visible.

Residents have moved into the completed first stage, landscaped spaces are established, and the next chapter is now underway. Stage 1 has been completed and settled, with Stage 2 now selling off-the-plan.

Designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a>, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> combines attainable apartment living with sustainability initiatives rarely seen at this price point, including rooftop solar, battery storage and a resident EV-sharing program.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/6RNt3AvtBpI?si=JUhuCV2ZRXsYaoJZ" title="YouTube video player" width="560"></iframe>

Located on Schofi​elds Road, just moments from Tal​lawong Metro Station and Schof​ields Train Station, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been designed to appeal to a broad mix of buyers, from first-home purchasers looking for a foothold in Sy​dney's property market to downsizers seeking a connected, low-maintenance lifestyle.

<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been conceived as a thoughtfully planned masterplanned community that will evolve over multiple stages, with buyers now able to secure one, two and three-bedroom apartments within a neighbourhood that is already beginning to establish its identity.

One of the project's defining features is its focus on sustainability. Solar energy systems, battery storage and future EV charging infrastructure have been incorporated throughout the development, reflecting a long-term approach to both environmental performance and everyday convenience.

Sustainability sits at the centre of the development's vision, with solar energy systems, battery storage and future EV charging infrastructure integrated throughout the community.

That emphasis on future-ready living extends beyond the technology. Landscaped communal gardens, outdoor gathering spaces and plans for a future retail precinct aim to create a neighbourhood where residents can access daily conveniences without travelling far from home.

[smartcode_project:default project_id=149637 project_image_fid=351027]

The apartments themselves have been designed with liveability front of mind. Rather than chasing maximum density, the focus has been placed on creating practical homes with generous natural light, usable layouts and strong connections to outdoor space.

Importantly, these design principles have been applied consistently across the one, two and three-bedroom apartment offerings.

The appeal of <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> is also closely linked to its location within Syd​ney's rapidly evolving north-west growth corridor. Over the past decade, major infrastructure investment has transformed the area, with new transport links, business precincts and community facilities reshaping suburbs like Talla​wong and Schofiel​ds.

The agent says buyers are increasingly recognising the area's long-term potential.

"Typical buyers that we're finding across <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> especially are your first-home buyers, your investors, your upsizers as well as your downsizers," Hawes says.

Connectivity remains one of the project's strongest drawcards. Residents have access to both Tallaw​ong Metro Station and Schofi​elds Train Station, providing links to the Sydn​ey CBD, Norw​est Business Park, Macquari​e Park and other major employment hubs. Retail centres including Rous​e Hill Town Centre and Sch​ofields Village are also nearby, alongside schools, parks and future healthcare infrastructure.

[smartcode_project:default project_id=149637 project_image_fid=351031]

For Stage 1 resident Roji, it is the balance between convenience and comfort that has defined the experience of living at Kew.

"For me, it's a balance of quality and convenience," she says. "Everything I need is right here."

"If I wanted to catch the train, Scho​fields Station is just around the corner. Tallaw​ong Metro connects me to the city."

More importantly, she says, the development has delivered something that cannot be measured in floorplans or specifications.

"<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> feels like home."

[smartcode_project:default project_id=149637 project_image_fid=351024]

As Stage 2 enters the market, that lived experience may be one of the project's strongest selling points. Buyers are not purchasing into an untested concept or a future promise. They are joining a community that is already taking shape.

Ongoing investment in transport, retail, healthcare and public open space continues to strengthen the appeal of Syd​ney's north-west growth corridor, while <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>'s established first stage provides buyers with a tangible sense of the community's future direction.

For a limited time, buyer can secure a new home at <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> with just a $10,000.

[smartcode_project_cta:default project_id=149637]

Kew Tallawong: A growing community taking shape in Sydney's north-west

<a href="https://www.apartments.com.au/developers/freecity">Freecity</a> has received development approval for its 51-storey mixed-use tower at 153-157 Walker Street, North Sydney, set to be one of the tallest mixed-use residential-led buildings in one of Sydney’s most sought-after commercial and residential addresses.

Lodged as a State Significant Development Application (SSDA) through the Housing Delivery Authority (HDA) pathway and approved by the NSW Department of Planning, Housing and Infrastructure following a comprehensive public exhibition and submissions process, <a href="https://www.apartments.com.au/new-apartments/153-walker-street-north-sydney-nsw-2060">the project</a> will deliver 296 apartments, alongside a 170-room, luxury hotel, activated retail and significant public domain improvements.

Situated just 200 metres from Victoria Cross Metro Station, on one of the largest developable sites in North Sydney, the development will rise to 234 metres, making it one of the tallest buildings in the suburb. With an end value of approximately $1.5 billion, the project responds directly to the NSW Government’s mandate to accelerate housing delivery in well-located, transit-connected areas.

<img alt="Freecity gets green light for mixed-use residential and hotel tower in North Sydney" data-entity-type="file" data-entity-uuid="192ec455-94bf-4e01-83ef-922b1b269d67" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Freecity%20-%20Walker%20Street%20North%20Sydney%201%20RESIZED%20.jpg?VersionId=Bzqp0SBHCDvLAHjA4QXkjuGoOEIh73Jl" />

The apartment mix will cater to a broad range of buyers, with 65 studio and one-bedroom apartments, 139 two-bedroom residences, 35 three-bedroom apartments, 48 four-bedroom homes, and nine penthouses. Residents will have access to a dedicated amenity level on Level 33, featuring a swimming pool with views towards the Harbour Bridge, Sydney Opera House and North Sydney CBD, as well as a gym, library, shared kitchen, lounge and outdoor entertaining areas.

The hotel will occupy the lower six levels of the building and include meeting and function spaces, a wellness centre with gym, yoga studio, swimming pool and sauna, further strengthening North Sydney's growing hospitality offering.

At ground level, the development has been designed to improve pedestrian connections through the precinct. More than 700 sqm of retail space will activate the street frontage, while a landscaped through-site link connecting Walker Street, Little Walker Street and Doris Fitton Park will provide new public open space with seating, paving and extensive native landscaping.

Freecity Group Co-Founder and Joint CEO Tony Sun said the project represents one of the most significant development opportunities currently available in North Sydney.

"This is one of the most significant development sites in North Sydney and it comes at a pivotal moment for the precinct," Sun said.

"North Sydney is undergoing a genuine transformation, and this project will contribute housing the city urgently needs while creating a landmark destination."

Executive Director of Development Michael Romano said demand for both residential and hotel accommodation would continue to strengthen as the Metro precinct matures.

"The structural demand for high-quality housing and hotel accommodation in North Sydney is compelling, and will only grow as the precinct continues to evolve around the new Metro station," Romano said.

Architectus has designed the tower, orientating the apartments to maximise views towards Sydney Harbour while introducing a sculpted façade intended to respond to light, wind and the surrounding skyline.

Architectus Principal Marko Damic said the design sought to create a tower that contributes to the public realm as much as the skyline.

"We wanted to design a tower that doesn't just sit in the skyline but actively participates and contributes to city life," Damic said.

First look: Freecity gets green light for mixed-use apartment and hotel tower in North Sydney

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and <a href="https://www.apartments.com.au/developers/perifa">PERIFA</a> have celebrated the topping out of <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf,</a> marking a significant milestone in the delivery of one of Syd​ney's most anticipated waterfront communities.

Located on Sydney's harbourfront at <a href="https://www.apartments.com.au/developments/putney-nsw-2112">Putney</a>, the project has now reached its highest structural point, with construction progressing strongly towards completion in 2027. 
&nbsp; 
The milestone was celebrated on-site with project partners Phoenix Property Investors, Mitsubishi Estate Asia, Versatile Construction, <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, consultants and stakeholders, to recognise the collective effort behind the transformation of the historic waterfront site into a vibrant new residential, marina and lifestyle destination.

[smartcode_project:default project_id=13962 project_image_fid=362240] 
&nbsp; 
<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will deliver a mix of waterfront residences and terraces, complemented by a private 36-berth marina, waterfront dining opportunities and a revitalised foreshore designed to reconnect the community with the river's edge. 
&nbsp; 
Abadeen Executive Chairman and Founder Justin Brown said the project represented a rare opportunity to create the next chapter in Sydn​ey's long history of successful waterfront precincts. 
&nbsp; 
"Throughout Sydney, some of the city's most sought-after addresses have emerged from carefully considered waterfront precincts such as Woolloom​ooloo Wharf, Walsh Bay and Breakfast Point," Brown said.

[smartcode_project:default project_id=13962 project_image_fid=362566] 
&nbsp; 
"What makes these places so successful is that they become much more than residential developments," Brown said.

"They bring together homes, hospitality, marina facilities, public spaces and a strong sense of community in locations where future supply is incredibly limited."

Brown has long described absolute waterfront land in Sy​dney as "finite."

"Once these opportunities are developed, they are rarely replicated. That's why Syd​ney's waterfront precincts have consistently demonstrated strong demand and long-term value growth over many decades. 
&nbsp; 
"<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is one of the few remaining opportunities to secure a residence within a masterplanned waterfront community that combines direct water access, marina ownership opportunities and a genuine village lifestyle just moments from the Sy​dney CBD."

[smartcode_project:default project_id=13962 project_image_fid=362564] 
&nbsp; 
PERIFA Founder and Managing Director Fabrizio Perilli said the project reflected a shared commitment to delivering exceptional places that create long-term value for residents and the broader community. 
&nbsp; 
"The topping out milestone is a significant achievement for the Versatile Group and a testament to the collaboration between all project partners, consultants and contractors involved," Perilli said. 
&nbsp; 
"Beyond the residences themselves, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will establish a new waterfront destination that celebrates the history, character and lifestyle of this unique location while creating a lasting legacy for future generations."

[smartcode_project:default project_id=13962 project_image_fid=291195] 
&nbsp; 
Construction is being delivered by <a href="https://www.apartments.com.au/builders/versatile">Versatile Construction</a>, with structural works now substantially complete across the precinct. Attention will progressively shift to the construction of the waterview terraces, apartment façades, services and interior fit-out works over the coming months. 
&nbsp; 
With limited residences and marina berths remaining, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> continues to attract strong interest from owner occupiers and downsizers seeking a premium waterfront lifestyle within close proximity to Putne​y Village, Rh​odes, Top Ry​de and the Syd​ney CBD. 
&nbsp; 
As one of the last opportunities to secure a residence within a new masterplanned waterfront community on Sy​dney Harbour, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is expected to remain a highly sought-after address for years to come.

[smartcode_project_cta:default project_id=13962]

Jonathan Chancellor

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News