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Private treaty discounting has become necessary to secure sales across most capital cities.
<img src="/images/stories/discountnov16chart.gif">
Source: APM 
Brisbane listings still require the highest level of reduction, with a typical 11.1% discount needed against the original asking price, according to Australian Property Monitors. 
Perth ranked second with a 9.1% discount required, according to the recently released September data. 
APM research analyst Clinton McNabb notes Canberra vendors typically need to adjust their expectations the least, with a required 4.9% price adjustment to secure a sale, although it appears to be on the rise. 
Discounting increased considerably across all capital cities in the past year, with the exception of Sydney, where vendors are needing to take about 7% off their asking prices to secure a sale.
 
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jchancellor-FAypfDUnLy

Private treaty discounting at year highs in most capital cities: APM

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{yoogallery src=[images/stories/november18cunana]}
Cunana, the iconic property situated on the Mornington Peninsula in Merricks, has been listed with $12 million plus hopes.
It was completed in 2007, after four years of planning and construction, to a design by architect Alfred de Bruyne of SJB Architects, with SJB Interiors completing the interior design.
Its deluxe design was no doubt influenced by the vendor, who held a senior position at a leading luxury hotel and resort group for many years.
Tom Ormerod from Knight Frank says extensive use of glass had created an intimate relationship between the house and its surroundings. The three glass sides offer three different views of the ocean, vineyards and rolling hills.
Rammed earth bricks, which were made on site using Victorian earth and clay, have been juxtaposed with glass to create clean lines and an original design. Grey ironbark has been used throughout the house, including the flooring timber, bookshelves and pool surround.
The highly skilled art of Venetian stucco work has been applied to the internal walls to give the plaster a marble-like sheen. The property sleeps 14 people, including a master suite with dressing room and two self-contained apartments, which would be suitable for families, long-term guests or live-in staff.
Five kitchens and two large terraces offer entertaining opportunities. There’s an indoor pool, gym, and games room complete with arcade machines and a private cinema. The house sits in 11 hectares of land on one of the highest points of the peninsula and includes two hectares of landscaped gardens, orchards and a vegetable garden. There is also croquet lawn and a boule court.
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Iconic Alfred de Bruyne-designed Mornington Peninsula property on the market

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Secretive tactics by the POSCO Korean coal mining enterprise have shocked businessman Michael Ball, the vendor of a Southern Highlands property who thought he was selling his land to an agricultural company.
Ball found out the farm sold to shelf company Aurelius Rural Pty Ltd, which actually wanted to establish itself on the beef cattle farm for mining purposes. Wongonbra was marketed by estate agents as arguably the best available large rural landholding in the Southern Highlands.
"Well, clearly it's deceitful because they pretended all the way through the negotiations that they were solely interested in farming – cattle farming," Ball says.
"I expected them to be farmers with the long-term view to cutting it up into hundred-acre blocks as they said they would do," he told <a target="_blank" href="https://au.news.yahoo.com/today-tonight/celebrity/article/-/11767177/quest-for-coal">Channel 7 reporter Bryan Seymour</a>.
"Because this is our legacy, this is Australia, That's what we must pass on. Australia's long-term future is as a food bowl and as a place for visitors and for residents all of which have been endangered by this type of activity," Ball says. He has given support to the local Southern Highland Coal Action Group.
The retired advertising legend and Liberal Party stalwart thinks Australian politicians have gone “mining mad”.
The blue-ribbon conservative, who chairs the Bradman Foundation, suggests he’s become a radical activist.
Quentin Dempster on the ABC 7.30 Report noted the secretive practice had made the small community “more determined than ever to stop mining”.
The highlands coal sits underneath a water aquifer.
"No one has a clue of the geology of aquifers,” Ball told The Australian.
“Once fractured, there's no possibility for them to be fixed. You can't mine without fracturing the aquifer."
Peter Martin, a neighbour and the convener of the Southern Highland Coal Action Group, says governments are allowing miners to come into some of the best parts of Australia and “ruin them".
It's the latest action in a nationwide public fight against the coal mining industry.
"They're [the coal companies] not going to get there, they think they are and I'm saying to these people you might have a license, it's not worth two bob ‘cause you're going to have to run over the public first," 2GB broadcaster Alan Jones says. He has a home in the highlands, so will lead a weekend rally against the mining encroach.
"If this is the devious way these people are going about things, then the game is up.
“Overseas interests, a stack of them, Korean in particular and Chinese interests, Shen Wah and those companies, are buying prime agricultural land they will desecrate and despoil that land and at the end of thirty years when the license expires we'll be left, or our children will be left with the residue," Jones says.
<a target="_blank" href="https://www.propertyobserver.com.au/rural/coal-protesters-await-nicole-kidman-and-keith-urban-joining-their-fight/2011111652388">Property owners fighting coal seam gas mining exploration around precious aquifers of the Southern Highlands have been hoping – to no avail so far – that local rural estate owners Nicole Kidman and Keith Urban will soon join their battle.</a>
<a target="_blank" href="https://www.propertyobserver.com.au/rural/wingecarribee-council-voices-opposition-to-coal-seam-gas-mining/2011111752417">Wingecarribee Shire Council also opposes the potential expansion of coal seam gas and new coal mining in the shire.</a>
 
 
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Alan Jones and Michael Ball get behind Southern Highlands Cockatoo Coal fight, but still no sign of Nicole Kidman

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Southern Highlands resident Jennifer Pyle has added her voice to those of the growing numbers of residents who sense the “steamrollering of their rights as citizens and residents when it comes to coal seam gas exploration.”
“My husband and I had yearned to retire to the Southern Highlands for many years so after moving to the area a couple of years ago, we have now purchased a block of land in Exeter, just to complete our dream of building and living there in our retirement,” she told the Parliamentary inquiry.
“That now will end if Hume Coal is allowed to continue its current agenda.
“Our land is now unsellable, and worth less already and building would be pointless, with the mining ramifications of subsidence etc. if the government does not halt this potential disaster,” Pyle says.
“The damage and pollution of ground water, aquifers, rivers and dams, and the disposal of large volumes of contaminated water from coal seam gas would be catastrophic.
“Not to mention the water catchment area for Sydney that would be compromised.
“The environmental risks to our farmland, bushland and communities would be destructive. We must preserve our agricultural land.
“One huge concern is our inability to deny land access to a miner under the current NSW law is a violation of our democratic rights.
“The rights of mining companies, overseas or local have become a mountain that will crush all that we hold dear as Australians and all will be irrevocably lost if you, on this committee and the NSW government, fail to act in these urgent matters regarding mining.”
<a target="_blank" href="https://www.propertyobserver.com.au/rural/coal-protesters-await-nicole-kidman-and-keith-urban-joining-their-fight/2011111652388">Property owners fighting coal seam gas mining exploration around precious aquifers of the Southern Highlands have been hoping – to no avail so far – that local rural estate owners Nicole Kidman and Keith Urban will soon join their battle.</a>
<a target="_blank" href="https://www.propertyobserver.com.au/rural/wingecarribee-council-voices-opposition-to-coal-seam-gas-mining/2011111752417">Wingecarribee Shire Council also opposes the potential expansion of coal seam gas and new coal mining in the shire.</a>
 
 
 
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Southern Highlands residents speak out against coal seam gas mining

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Wingecarribee Shire Council manager of environment and sustainability Barry Arthur has confirmed the council opposes the potential expansion of coal seam gas and new coal mining in the shire.
The council has unanimously formed a position of strong opposition to these activities given the area consists of a large portion of the Sydney's drinking water catchment and is blessed with productive farming land, generous rainfall, aquifer resources, significant biodiversity, 40% of protected bushland and forms a significant link in the Great Eastern Ranges conservation corridor.
“The threat of coal seam gas activities looms as a potential threat that could devastate to the shire’s natural assets, the community’s visions, livelihoods, and public health,” Arthur says.
“There are a number of environmental risks associated with coal seam gas mining – contamination of surface and groundwater, impacts on water availability (both surface and groundwater), waste issues, aquifer interference, air quality, environmental health concerns, and interference to natural ecology and land use.
“The concerns raised in this submission stem from the lack of credible and conclusive scientific evidence to provide the assurance that such activities will not have a long term and irreparable impact upon the environment, including groundwater reserves within the shire or upon Sydney's drinking water catchment.”
The submission notes the NSW government has committed to strategic regional land-use policy plans.
“Council supports this process and eagerly awaits progress in this area, particularly given the regional significance of the shire in reference to the Sydney drinking water catchment, productive agricultural land, and the Sydney-to-Canberra growth corridor,” Arthur says.
“Council asks that the NSW government to bring forward this process, and prevent coal seam gas activities from occurring until it is rigorously assessed in the regional significance context, and let regional priorities guide decision making processes regarding coal seam gas activities, and not the other way around.
“Wingecarribee Shire Council has been assured that we will be included in both the strategic land use planning process and the aquifer interference policy by Minister [Chris] Hartcher and also the NSW Office of Water.”
The council has asked that there be no advancement in approving coal seam gas activities in the region until the strategic framework is completed.
“The precautionary principle should be invoked at this time as it is not possible to guarantee that there would be no negative impacts from coal seam gas activities.
“Adherence to the precautionary principle becomes even more important (and logical) when you consider the regional significance of the Southern Highlands, and the role it plays in Sydney's drinking water catchment
“These assets must not be put at risk.
“While there are alternative energy options for the future of the state, there are few alternative options with respect to Sydney's drinking water security, or productive land security.”
The submission notes the public opposition to these activities in the shire is significant and can be seen most dramatically in support received so far to the work of the Southern Highlands Coal Action Group (SHCAG).
<a target="_blank" href="https://www.propertyobserver.com.au/rural/coal-protesters-await-nicole-kidman-and-keith-urban-joining-their-fight/2011111652388">Property owners fighting coal seam gas mining exploration around precious aquifers of the Southern Highlands have been hoping – to no avail so far – that local rural estate owners Nicole Kidman and Keith Urban will soon join their battle. </a>
<a href="https://www.propertyobserver.com.au/rural/alan-jones-and-michael-ball-get-behind-southern-highlands-cockatoo-coal-fight-but-still-no-sign-of-nicole-kidman/2011111752419?source=flicker2" target="_blank">However, Alan Jones and Michael Ball have gotten behind the campaign</a>, as have many <a target="_blank" href="https://www.propertyobserver.com.au/rural/southern-highlands-residents-speak-out-against-coal-seam-gas-mining/2011111752418">residents in the area.</a>
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Wingecarribee Council voices opposition to coal seam gas mining

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Era, the 40-storey Chatswood residential tower (pictured below), is now 96% sold. Mirvac only received state government approval for the development in early March. The company fast-tracked the design to be ready for construction in only three months after planning approval was received.
<img src="/images/stories/era.jpg">
Some 94% of the development was sold in less than 11 hours at its initial weekend release in March earlier this year. The initial apartments sold equalled $273.5 million in exchanged contracts.
“Our ability to fast-track this development to meet market demand illustrates our competitive advantage in developing high density product,” Mirvac managing director Nick Collishaw told the shareholders’ annual general meeting.
Construction commenced in June 2011 and is scheduled for completion in 2014.
In August Mirvac noted that it would look at "specific opportunities" for overseas marketing of some of its projects following the popularity of Era with Asian buyers.
"We have carried out overseas marketing in the past but it has never been a core part of our strategy and, indeed, when you look at Era at Chatswood, we had less than 8% of FIRB [Foreign Investment Review Board] approvals," Collishaw told analysts.
"We have a stronger Asian influence right now, but the fact is the majority of them are local buyers or using local cash."
<img src="/images/stories/yarrapoint.jpg">
Mirvac’s Yarra Point (pictured above), at Yarra’s Edge in the Docklands precinct in Melbourne, is now 78% sold. It was launched in October 2010 with a scheduled 2013 completion.
It sits among several apartment developments that have been fast-tracked as Mirvac focuses its offering as mid-price points, as typified by projects such as Yarra Towers in Melbourne and Era in Chatswood.
Yarra Point apartments had prices ranging from $513,000 to $2.4 million, with an average of price of $948,000.
“This product diversity caters both to owner occupiers and investors,” Collishaw suggests.
“Yarra Point was also the first Victorian project to be designed by Mirvac design department in Sydney demonstrating a new level of efficiency within our integrated model, following centralisation of our design business,” shareholders were advised.
For more on the past, present and future of Docklands, download our free e-book. 
 
 
 
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Mirvac's fast-tracked projects finding eager buyers in Melbourne and Sydney

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<img src="/images/stories/olleyquote.jpg">
 
 
- Expatriate artist Jeffrey Smart reminiscing about Sydney and his former colleague, the late Paddington-based artist Margaret Olley, adding that it was “an especially fine compliment because Olley was not known to be a good cook”. He spoke to <a href="https://www.theaustralian.com.au/news/features/still-life-jeffery-smart-at-90/story-e6frg8h6-1226189264665">The Australian</a> at his home in Tuscany, Italy.
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Quote of the week: Dinner at Margaret Olley's

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The Australian Competition and Consumer Commission has decided it will not oppose Commonwealth Bank’s proposed acquisition of Count Financial Ltd, which owns a 17% stake in mortgage broker Mortgage Choice.
CBA is the largest lender on Mortgage Choice's panel.
"The ACCC is satisfied that there is unlikely to be a substantial lessening of competition in any relevant market as a result of this proposed acquisition," ACCC chairman Rod Sims says.
The ACCC conducted a comprehensive review, including extensive market inquiries with participants in the financial planning, mortgage broking, banking, superannuation and insurance sectors.
"The ACCC noted that the acquisition would increase CBA's presence in the supply of financial planning services and mortgage referral services,” Sims says.
“This could potentially have reduced competition in the supply of these services and increased the ability of CBA to direct business to its upstream investment and mortgage related products.
“However, the ACCC was satisfied that CBA would continue to be constrained by a number of other significant financial planning dealer groups, mortgage broking firms and investment product providers," Sims adds.
With respect to the supply of life insurance and superannuation products, the ACCC concluded that the acquisition would not raise significant competition concerns in either of these sectors.
The ACCC noted that the acquisition would result in only limited market concentration and that CBA would continue to be constrained by alternative suppliers of superannuation and life insurance products.
<a href="/news">Commonwealth Bank will acquire financial planner Count Financial for $373 million, thereby acquiring Count’s 17% stake in Mortgage Choice.</a>
 
 
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ACCC gives CBA Count acquisition green light

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Financial market failures were a major cause of the world’s economic crisis, but housing markets played a leading part, according to research by OECD research.
From the subprime debacle in the US to the bursting of unprecedented real estate bubbles in Ireland, Spain and Greece, among others, the overheating and collapse of property markets not only hurt savings and investments, but was felt throughout entire economies, affecting construction, employment, lending and spending, a report in the OECD Observer magazine notes.
“Generally speaking, real house prices had started to peak in the vast majority of OECD countries prior to the financial crisis,” say researchers Linda Rousová and Paul van den Noord in Predicting Peaks and Troughs in Real House Prices.
“But a striking development has been the rebound in real house prices in some (but not all) OECD countries since then.
“In Canada and Australia, for instance, as well as in Belgium, Finland, France, Norway, Sweden and Switzerland, prices have firmed up, in part thanks to substantial easing of monetary policies (with record low interest rates).”
The article notes prices had risen dramatically within some prime city markets such as Paris and London as investors fled less attractive property markets, and as stock markets became more volatile.
However the situation was far from positive elsewhere.
“Outside London, the UK market has barely seen any recovery at all, while in Denmark, Korea and New Zealand, property prices remain modest at best.
“The slide in real house prices continues unabated in Greece, Ireland, Italy, the Netherlands, Spain and the United States.
“Germany and Japan are the outliers, as they are still working off their housing bubbles from the early 1990s,” the article says.
“However, there are signs of bottoming out in Germany, while in Japan real house prices may finally trough in 2011 or 2012.”
The commentary suggests spotting such turning points in property markets is important to policymakers.
“OECD economists use what are called probit models, which compute the probability of peaks and troughs.
“The predictions are based on developments in basic indicators such as interest rates, the supply of new housing and the business cycle, not to mention the pace of house price changes observed in recent quarters.
It notes these probit exercises sketch a rather bleak near-term future for real house prices generally.
“For the countries where real house prices have seen an upswing, peaks are predicted to occur before the end of 2012,” the article says.
“This does not necessarily point to a ‘bubble’ in these countries, but it does spell a likely turning point.”
It concludes property markets in most of the countries where house prices have been falling –Denmark, Italy, Korea, the Netherlands, New Zealand and the UK – will remain volatile.
“However, the US, Greece, Ireland and Spain could see troughs in 2011 or 2012, though for the latter three this assumes a resolution is found to the current sovereign debt crisis, resulting in a narrowing of interest rate spreads with Germany.”
<img src="/images/stories/oecd.gif">
It notes among the 20 countries for which the OECD maintains a quarterly database for real house prices it is possible to distinguish four groups of countries in terms of their response to the financial crisis.
Australia was in the first with a relatively sharp rebound, in the range of 5% to 15%, being observed in eight countries (Australia, Belgium, Canada, Finland, France, Norway, Sweden and Switzerland).
“In three cases (Australia, Canada, Sweden), however, the rebound seems to have run out of steam, possibly in response to monetary policy tightening.”
The second, weaker and already faltering rebounds were observed in four countries (Denmark, Korea, New Zealand and the United Kingdom). In all these cases, the rebound in real house prices seems to have been akin to a “false start” in response to monetary policy easing, possibly masking a continued underlying downturn.
Third, an outright slide in real house prices is observed in six countries (Greece, Ireland, Italy, Netherlands, Spain and the United States). Among these, the by far sharpest downturns are observed in Greece, Ireland, Spain and the United States, with more moderate downturns in Italy and the Netherlands.
The fourth group showing long-term declines in real house prices were Germany and Japan when the financial crisis hit, as these were still working off their housing bubbles of the early 1990s. In the case of Germany real house prices seem to be gradually picking up since 2008.
The caveat is that, as with any market, making predictions about house prices was always surrounded by uncertainty.
“Even so, it seems likely that most countries now showing upswings in real house prices will see their housing cycle turn downwards in 2012, while declining property markets in most countries that are currently experiencing downturns are not expected to bottom out.”
 
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Property market played a leading role in global financial crisis: OECD

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{yoogallery src=[images/stories/november8johnolsen]}
The NSW southern highlands home of artist John Olsen and his wife, Katherine, didn't sell at its mid-week auction.
Owlswood, the 13-hectare Glenquarry property had initial $4.25 million hopes, but then the Olsens then lowered their expectations to about $3.5 million.
Since buying the property for $925,000 in 1999, they have added two wings to the original house. They also built a two-storey gallery and a studio designed for John to paint large canvases.
The Sproules Lane setting comes with a homestead and separate cottage, a pool and tennis court on 13 hectares. It comes with groom's quarters, 10 stables, open and covered arenas, given Katherine is a keen horsewoman.
Two former aircraft hangars were converted to stables. The four-hectares gardens that surround the house come with a tennis court, pool and ornamental lake.
The four-bedroom property is eight minutes' drive from Bowral township.
The Olsens are selling it because they're downsizing to Hidden Lake, an eight-hectare Avoca property secured about 18 months ago at $1.4 million from a former Bowral retailer, Mal Kirk. It comes with a Canadian-style fishing lodge that the Olsens have renovated extensively.
Owlswood remains listed through Drew Lindsay at Drew Lindsay Real Estate in conjunction with Michael Maloney at Richardson &amp; Wrench Bowral, who will seek private treaty offers.
 
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Artist John Olsen's Southern Highlands home remains listed

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

Joel Robinson

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

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

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

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

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

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

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

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