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The Dunk Island Resort in far north Queensland is the latest cyclone-damaged island to sell.
The resort and island was devastated in January when Cyclone Yasi tore through. In early December it was bought Peter Bond, the chief executive of gas company Linc Energy and listed in Business Review Weekly's 2011 rich list at $570 million of wealth. 
While Queensland's Tourism Minister Jan Jarrett said she understood that Bond had bought the resort island for continued tourism intentions, Bond has subsequently advised the reputed $10 million purchase will be used as a private getaway. Bond told the Australian Financial Review there are currently no plans for the commercial division of the resort island.
"I have a large family – six kids – and it's growing rapidly," Bond said. "It'd like to turn the island into a second residence, an anchor where our family can come together."
The coal mining executive's most recent property purchase was when <a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/new-south-wales/redfern-proving-magnetic-for-coal-execs/2011062250564" target="_blank">he spent $2,125,000 in June to buy the landmark 125-year-oldformer Redfern post office</a>, now an office building, as an investment. It was sold recently by Max Markson, the publicist who had used the Redfern Street heritage property as the base for publicity business Markson Sparks for five years. The building, which has a clock tower and bell, sold through McGrath agents Paul Ephron and Ben Forsyth. Markson had bought it from Sorin Dascalu &amp; Associates in 2006 for $1.9 million.
Dunk Island Resort occupies 150 hectares, the largest in what is known as the “family group of islands”.
Dunk cost $20.5 million in 2009.
Its sale comes just three weeks after<a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/leisure/bedarra-island-sells-to-queensland-s-charlton-hotel-group/2011112252493" target="_blank"> Bedarra sold to the Queensland-based family company with links to former Australian Olympic gold medallist swimmer Andrew "Boy" Charlton</a>.
<a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/retail/not-so-perfect-islands-for-sale-in-fnq/2011090751465" target="_blank">Bedarra Island is four kilometres to the south of Dunk Island</a>, the second largest in the “family group of islands” and incorporates the Bedarra Island Resort on 44.96 hectares and Bedarra Hideaway on 34.88 hectares. Bedarra was famous for its complimentary bottles of French champagne at the open bar.
The same overseas vendor had acquired the Beddara Island in 2009 for $21.5 million
Prior to the cyclone the resort offered secluded accommodation for just 32 guests in 16 luxury villas, which enjoyed a strong trading history in recent years.
And it’s likely to have fewer villas and a shortened opening season.
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jchancellor-FAypfDUnLy

Dunk Island in FNQ sells to Linc Energy boss Peter Bond

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December auctions are down on last year, but there are still 530 auctions in Sydney this weekend. And Melbourne has about 800 scheduled.
Vendors – most of whom have already bought – have weekend listings until there's no more opportunity.
Australian Property Monitors reports there will be 640 for auction on December 10 and the 400-plus on December 17.
This weekend's Sydney tally is down 22% on the 680 held on the same Saturday last year.
The Real Estate Institute of Victoria says this weekend's 800 auctions are down on the 1,071 auctions on the same weekend last year.  The REIV is expecting about 2,200 auctions between now and Christmas, increasing the total number of auctions to around 28,800 this year.
In the 10 years prior to 2011, the average number of auctions held in a year was 26,338.
In four of those years the volume was higher.
 
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Last-chance auctions scheduled as selling season winds down slowly

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Autumn is the best-performing of the busiest selling seasons in both Sydney and Melbourne.
Australian Property Monitors data shows autumn has the higher auction clearance rate in three of the past four years in Sydney. The year 2009 was the only time Sydney's spring auction showed an improvement over autumn.
In Melbourne APM shows a consistent pattern, with 2009 the only spring to outperform the autumn auction result.
Melbourne recorded the highest drop between seasons in 2010 when the autumn's success rate was 77% and spring was 63%.
Both cities showed little difference in the 2007 year between seasons.
Melbourne's five-year autumn clearance rate was 70% and 65% in spring.
Sydney's autumn auctions have averaged 58% over the past five years compared with 56% in spring.
 
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Autumn auctions achieve better clearance rates than spring

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<img src="/images/stories/welldesigned.gif">
- Garry Rothwell, the founder and principal of the Winten Property Group, accepting the Urban Taskforce Property Person of the Year 2011 award at a charity event lunch which raised funds for Warrah Disability Services and St Vincent's Prostate Cancer Centre.
 
 
 
 
 
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Quote of the week: Developer Garry Rothwell

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{yoogallery src=[images/stories/december1holmesacourt]}
The NSW holiday home of Peter and Divonne Holmes à Court has been listed for auction.
The oceanfront home at <a target="_blank" href="/news">Stanwell Park</a> features four bedrooms.
It’s located just under one hour from Sydney.
It comes with Luigi Roselli-designed and council-approved plans for extensive additions.
Due to spending more time in Europe, the Holmes à Court family have decided they won't build their dream beach house extension on the 1,568-square-metre Kallaroo Avenue site.
Divonne Holmes à Court says the small beach community reminds her of Nantucket.
“Our children will probably never forgive us [for selling]!”
Its McGrath Thirroul listing agent Amanda Moore expects $2.1 million plus when it is auctioned in conjunction with LJ Hooker Helensburgh.
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Peter Holmes a Court’s NSW coastal retreat listed for sale

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The Mermaid Beach beachfront attracts the highest prices on the Gold Coast – and thereby attracts the greatest attention in both buoyant and depressed markets.
The latest resale hasn't had much publicity, but at 56% less than its 2007 pre-global financial crisis sale price, it’s the highest yet recorded luxury price decline.
The 199 Hedges Avenue property has been bought by Parkdon Pty Ltd, a company associated with Avi Silver from Caulfield. The vendor, Max Twigg, also comes from Melbourne.
It cost $17.5 million in 2007 and resold recently at $7.7 million, meaning the price dropped by about $50,000 a week during his four-year ownership.
Another $10 million plus loss on the Gold Coast's "Millionaires' Row" was incurred by the internet-billing company high flier Daniel Tzvetkoff, who splashed out $27 million in early 2008 on the unfinished mansion of fallen tourism entrepreneur Tony Smith and his wife, Simone. At its mortgagee sale in 2009 it resold at $17 million to drilling tycoon Peter Mitchell, who was cashed up after selling his business for $150 million. Given the Ipswich-born internet whiz-kid spent $8 million on almost completing construction, Tzvetkoff's foray actually translated to an $18 million loss.
Many buyers are only prepared to purchase under market value at the moment, according to valuer Herron Todd White.
The company suggests current enquiry for property is steady, with agents noting that vendors must be keen and willing to meet the market.
"As well as a reduction in the volume of sales, prices since the GFC have fallen by anywhere between 35% and 50%, with the most expensive homes generally suffering the greater price drops," HTW notes.
HTW advised that housing varies from original 1950s beach shacks on single 405-square-metre allotments to luxury mansions built over four to six allotments.
The most recent land content sales have ranged from $4.17 million to $4.25 million.
Quality house sales have been $5 million to $5.5 million on single blocks and $7.7 million for a luxury house on a larger 530-square-metre block of land.
HTW notes sales in Main Beach have also been few and far between, given there are only 15 beachfront house properties in Main Beach and these are generally tightly held.
 
Beachfront Sales (Mermaid Beach and Main Beach)
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="154">
Year
</td>
<td valign="top" width="154">
Number of sales
</td>
</tr>
<tr>
<td valign="top" width="154">
1989
</td>
<td valign="top" width="154">
4
</td>
</tr>
<tr>
<td valign="top" width="154">
1990
</td>
<td valign="top" width="154">
6
</td>
</tr>
<tr>
<td valign="top" width="154">
1992
</td>
<td valign="top" width="154">
2
</td>
</tr>
<tr>
<td valign="top" width="154">
1991
</td>
<td valign="top" width="154">
2
</td>
</tr>
<tr>
<td valign="top" width="154">
1993
</td>
<td valign="top" width="154">
9
</td>
</tr>
<tr>
<td valign="top" width="154">
1994
</td>
<td valign="top" width="154">
5
</td>
</tr>
<tr>
<td valign="top" width="154">
1995
</td>
<td valign="top" width="154">
5
</td>
</tr>
<tr>
<td valign="top" width="154">
1996
</td>
<td valign="top" width="154">
6
</td>
</tr>
<tr>
<td valign="top" width="154">
1997
</td>
<td valign="top" width="154">
9
</td>
</tr>
<tr>
<td valign="top" width="154">
1998
</td>
<td valign="top" width="154">
13
</td>
</tr>
<tr>
<td valign="top" width="154">
1999
</td>
<td valign="top" width="154">
2
</td>
</tr>
<tr>
<td valign="top" width="154">
2000
</td>
<td valign="top" width="154">
8
</td>
</tr>
<tr>
<td valign="top" width="154">
2001
</td>
<td valign="top" width="154">
13
</td>
</tr>
<tr>
<td valign="top" width="154">
2002
</td>
<td valign="top" width="154">
8
</td>
</tr>
<tr>
<td valign="top" width="154">
2003
</td>
<td valign="top" width="154">
10
</td>
</tr>
<tr>
<td valign="top" width="154">
2004
</td>
<td valign="top" width="154">
5
</td>
</tr>
<tr>
<td valign="top" width="154">
2005
</td>
<td valign="top" width="154">
5
</td>
</tr>
<tr>
<td valign="top" width="154">
2006
</td>
<td valign="top" width="154">
15
</td>
</tr>
<tr>
<td valign="top" width="154">
2007
</td>
<td valign="top" width="154">
14
</td>
</tr>
<tr>
<td valign="top" width="154">
2008
</td>
<td valign="top" width="154">
10
</td>
</tr>
<tr>
<td valign="top" width="154">
2009
</td>
<td valign="top" width="154">
8
</td>
</tr>
<tr>
<td valign="top" width="154">
2010
</td>
<td valign="top" width="154">
4
</td>
</tr>
<tr>
<td valign="top" width="154">
2011
</td>
<td valign="top" width="154">
5*
</td>
</tr>
</tbody></table>
* includes under contract sale
Source: Herron Todd White
“There has only been one sale of a 400-square-metre allotment (improved with a one-bedroom cottage) at $3.6 million early this year,” it notes.
Twigg – who made his fortune in waste management – has indicated he did not know that the market in Hedges Avenue properties had been fuelled in the boom by unusual and hidden deals.
The Ray White Australia chairman Brian White recently noted that Hedges Avenue in recent years had been "like a property casino and people were caught up in a frenzy to get in".
Investigations by the Queensland Office of Fair Trading and police into alleged property price manipulation continue.
 
Top 8 Mermaid Beach price collapses (compiled by Property Observer)
<img src="/images/stories/hedgesave199use.jpg">
199 Hedges Avenue, sold in 2011 for $7,700,000, last sold for $17.5 million in 2007, a loss of 56%
<img src="/images/stories/hedgesave247.jpg">
247 Hedges Avenue, sold in 2010 for $5 million, last sold for $10.25 million in 2007, a loss of 51%
<img src="/images/stories/hedgesave31.jpg">
31 Hedges Avenue, sold in 2011 for $5.4 million, last sold for $11 million in 2008, a loss of 50%
<img src="/images/stories/albatross19right.jpg">
19 Albatross Avenue, sold in 2010 for $6 million, last sold for $11 million in 2008, a loss of 45%
<img src="/images/stories/albatross31.jpg">
31 Albatross Avenue, sold in 2009 for $5.35 million, last sold in 2008 for $9 million, a loss of 40%
<img src="/images/stories/hedgesave492.jpg">
49 Hedges Avenue, sold in 2000 for $9.5 million, last sold in 2008 for $16 million, a loss of 40%
<img src="/images/stories/albatross89.jpg">
89A Albatross Avenue, sold in 2010 for $6.5 million, last sold in 2006 for $10 million, a loss of 35%
<img src="/images/stories/hedges33.jpg">
33 Hedges Avenue, sold in 2009 for $17 million, last sold in 2008 for $27 million, a loss of 37%
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The eight biggest losses on Mermaid Beach's Millionaire's Row show no post-GFC recovery in sight

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The former Sydney property promoter Cameron Donald-Oates, who was removed from the BRW Young Rich List due to bankruptcy in 2006, has emerged debt-free as a well-established Hong Kong property consultant with membership of the Hong Kong Jockey Club, and is reputedly residing in an impressive apartment at The Peak.
His new lifestyle was revealed after he commenced NSW Supreme Court legal proceedings against his sister, Megan, over family trust property asset distribution involving Double Bay property.
Justice John Bryson described the preliminary hearing as “very unfortunate litigation relating to dealings with family property between persons who are closely related”.
“Before they take the case to hearing the parties would be wise to consider whether any compromise can be reached.
“There is a risk that the costs will be disproportionate to the value in dispute,” Bryson warned.
Donald-Oates is best remembered for the scuffle caught on camera between A Current Affair reporter Ben Fordham and one of Donald-Oates' associates, which <a href="https://www.thefordhamcompany.com.au/clients/ben-fordham?sessid=5dad17dea071000a8e716d9f39de0bd0">Fordham credits as one of his career highlights</a>. His exclusive expose of former Sydney property high-flyer, also known as Cameron Donald, led to national media coverage after Fordham was physically attacked while pursuing the Sydney businessman.
Donald-Oates told the court earlier this month via affidavit that he was in Hong Kong on an investment visa. The court heard that Donald-Oates had been there about five years. 
According to the 2005 notice of bankruptcy obtained by The Daily Telegraph, Cameron William Donald-Oates had been declared bankrupt on November 15, 2005, owing creditors more than $10 million.
Donald-Oates became bankrupt in November 2005 on his own application, with A. H. J. Wily appointed trustee in bankruptcy. Wily executed a deed of release in June 2006 after Donald-Oates’ sister and the family trust company paid significant sums to secure the release. The bankruptcy was annulled in October 2008 pursuant to the Bankruptcy Act 1966 (Cth) s 74(5).
The then 35-year-old former advertising executive had been previously featured as one of Sydney's young entrepreneurs. At the time he drove a blue, twin-turbo Bentley Azure, had just paid the deposit for an $8 million mansion in Darling Point and was in the process of purchasing a $12 million eight-seater jet.
``But money doesn't make the man,'' he said at the time.
Now Donald-Oates advises: “I have no debt whatsoever.” He made this statement to Bryson earlier this month, seeking to avoid having to lodge any legal costs security for the court case in which he’s being represented by David Pritchard SC and Nicholas Kidd, who were briefed by Levitt Robinson Solicitors.
“In order to maintain my status on an investment visa, I am currently required to maintain US$1 million in cash or assets available in Hong Kong at any one time,” his affidavit read.
“If I do not, I would be in breach of my investment visa and risk my status,” he said.
His visa is audited every two years with his next audit in January 2012.
He stressed there were no judgments outstanding against him nor were there any court cases of any kind pending against him.
But he could seemingly also produce a recent bank statement from HSBC Banking in Hong Kong that showed a credit balance of HKD$1,649,482.44 (AUDS$211,040.88), a credit balance of US$200,004.47 and other small balances, three in other currencies.
“Without attempting precision this indicates bank deposits worth in the order of AUD$400,000,” the judge noted.
“I infer that apart from the bank deposits he does not have significant assets available in Hong Kong.
“Extracts from the plaintiff's Australian passport include an employment visa with permission to remain in Hong Kong until 4 January 2012.
“Evidence shows that the plaintiff is established in business in Hong Kong, has been present there for at least five years, his presence there depends on obtaining visas from time to time, and his assets there are principally bank deposits of significant value, but readily transmissible to other places.
“Bank deposits are not reliable means of enforcing judgments because they are readily transmissible.
His sister has in recent years also been resident in Hong Kong, having been employed as JP Morgan's head of marketing and communications. The siblings were close, as she provided him accommodation on his arrival after his 2005 bankruptcy.
The judge was asked to rule on security for costs.
“He is an Australian citizen and went to live in Hong Kong after taking advantage of the bankruptcy law here,” Bryson noted.
“He does not claim to own real property, and his assets in Hong Kong of which evidence speaks, while quite sufficient to give comfort to any potential costs order, are highly mobile bank accounts.
“In my judgment the defendant would not be adequately protected for enforcement of a costs order outside Australia by merely being provided with funds to register judgment in Hong Kong.
“In the plaintiff's circumstances, the defendant can only be protected by ordering a substantial sum as security.”
There was an order that Donald-Oates provide security for $35,000 be given within 14 days and that security for a further $35,000 be given within 14 days after the date is appointed for hearing these proceedings.
During the property boom soon after 2000 Donald-Oates would take prospective property buyers on his private plane to Queensland to buy investment property at the Coral Cove Resort, near Bundaberg.
Donald-Oates also briefly bobbed up in the United Arab Emirates directing Emirates Property Partners Limited in 2008.
Donald-Oates solicitors sought and received alterations after legal representations. 
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Property promoter Cameron Donald-Oates emerges as debt-free Hong Kong high flier 

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It is just 31 days before the NSW government limits first-home buyer full stamp duty concessions to those buying newly constructed houses and units.

From January 1, 2012 first-home buyers will no longer have their stamp duty fully subsidised by the state government if they buy established homes.

First-home buyers who buy established houses or apartment next year will forego up to $17,990 in stamp duty exemption. 

Purchases must be exchanged before January 1, but can settle later next year.

The measure was unveiled by Treasurer Mike Baird in the Coalition’s first budget in office on September 6 this year.

"We recognise this is a difficult decision, but we believe it is necessary to make buying a new house relatively more attractive than buying an existing dwelling for first-home buyers," Baird advised.

“The government has therefore decided that from 1 January next year, while all eligible first-home buyers will continue to receive the $7,000 first-home owner’s grant, eligibility for additional stamp duty concessions will be limited to those purchasing newly constructed homes, including ‘off the plan’,” the Treasurer said. 

Baird predicted the first-home buyer housing market would spike up until January 1 as a result of the change and claimed that after January 1 more much-needed new homes would be built.

<a target="_blank" href="https://www.propertyobserver.com.au/auctions/agents-rushing-nsw-vendors-hoping-top-get-first-home-buyers-before-the-stamp-duty-concessions-conclude/2011112952609">Some estate agents have held first-home buyer auctions to engender a competitive element for their listings</a>, but there appears not to have been a herd of buyers paying silly prices. 
First-home benefits of up to $24,990 have been available, including the $7,000 first-home owner grant and a duty exemption of up to $17,990 under the First Home Plus Scheme.

The $7,000 first-home buyer grant will continue to be available to all eligible first-home buyers in 2012.
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NSW first-home buyers have a month left to secure stamp duty concessions on established homes

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The Future Fund chairman David Murray, who served as Commonwealth Bank of Australia chief executive for a decade until 2005, has warned that houses are overvalued and predicts that prices will at best stay flat for some time.

He believes house prices are higher than justified by income levels, but says this does not mean prices will collapse.

Instead, prices and incomes would come back into line over several years, he told the Australian Business Economists’ annual forecasting conference.

“The lending system for housing has resulted in a house price which is higher than it should be,” he said in answer to a question reported by the Australian Financial Review.

“I believe that will be worked through by stabilisation of house pricing and rising increases in incomes and hopefully that’s the outcome.”

Murray said in hindsight he saw that banks were funnelled into home lending by prudential standards that required them to hold much less capital in reserve against home loans than for other loans.

Banks were unlikely to face major losses on home loans based on historical experience but it was a concern that they needed to refinance the home loans on international markets, which were showing signs of stress, Murray added.
 
 
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Future Fund chairman David Murray says Australian housing overvalued

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In Queensland, the Gold Coast holiday rental market is picking up again after a tough year, says Clark Brackenridge, principal of Raine &amp; Horne Surfers Paradise.
“Our property markets are showing signs of turning the corner, and as it stands, our holiday bookings for the Christmas period are reasonably strong, and are certainly well up on this time last year.
“In addition, buyers are beginning to recognise that property prices on the Gold Coast represent good buying, with good yields available to investors,” says Brackenridge
Two-bedroom, two-bathroom apartments overlooking the beach can be purchased for $400,000, and rent for $250 a night as a holiday rental, or for between $500 and $550 a week to long-term tenants.
In Far North Queensland, Port Douglas is also maintaining a steady stream of holiday bookings, says David Cotton, Principal of Raine &amp; Horne Port Douglas / Mossman.
“To date, our holiday bookings have been on a par with 2010, if not higher, and we currently have between 60% and 70% occupancy for Christmas.”
Luxury homes on the hill overlooking Port Douglas can rent for between $5,000 and $7,000 a week, notes Cotton, but ultimately, the town runs the gamut of holiday accommodation, including backpacker lodging and beachside holiday units.
“For buyers interested in purchasing a slice of the Far North Queensland holiday lifestyle, quality holiday homes start from $1 million and provide returns of between 3% and 5%,” Cotton adds.
 
 
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Queensland investors finding strong demand from holidaymakers over summer

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

Joel Robinson

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

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

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

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

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

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

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

Jonathan Chancellor

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