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There's whispers the Elsternwick-based Kogan founder Ruslan Kogan has paid a record $38.8 million Toorak house price.
The Herald Sun reported the sale occurred at a private off-market auction last Thursday night.
Three parties were involved in the auction, with Kogan.com founder and chief executive Ruslan Kogan taking the keys to the three block, 2,600 sqm property.
Marshall White agents Marcus Chiminello and Richard Mackinnon reportedly secured the sale, but declined to comment.
The reputed off market $38.8 million price doesn't make the cut as the Melbourne record as that was likely secured with the yet to settle $52.5 million sale by art dealer Rod Menzies for his mansion Stonington in Malvern.
The seller of the French-inspired sandstone mansion was telecommunications investor Philip Cornish.
The Toorak record stood at $38 million for 18 St Georges Road.
The AFR reported the latest record price did not meet the initial off market $45 million asking price. 
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Record $38.8 million Toorak sale to Ruslan Kogan 

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The publicly listed Perth-based real estate and financial services group, The Agency Group, formerly known as Ausnet, has dropped their underwriter for the proposed 550 million share issue which was to help buy a burgeoning Sydney based estate agency.
The company announced it had dropped the underwriter, CPS Capital Group, just seven weeks after their appointment which advised "the acquisition of Top Level was firmly on track."
The proposed raising of $10 million at 2 cents a share was to be used to assist the acquisition of Top Level Real Estate, trading under licence as the The Agency East Coast which is headed by Matt Lahood, and other McGrath rebels, Ben Collier, Shad Hassen and Stephen Chen.
The shares were trading at 1.6 cents today, as boss Paul Niardone indicated he hoped the termination allowed for "greater scope and additional capacity to raise additional funding."
Click here <a href="https://www.propertyobserver.com.au/images/2018/4/26/AgencyGroup1.jpg" target="_blank">to enlarge.</a>
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Attempting to become a national group, The Agency which is headed by Paul Niardone, saw its shares initially close down by 12 per cent at 1.5 cents.
The Fairfax Media business gossip column, CBD published an unconfirmed suggestion The Agency principals "have had to stump up their own cash to keep the operation afloat."
The Perth-originated Ausnet leadership have long aspired to secure the east coasters, but been unable to pull it off.
The last official update had indicated the east coast Top Level with some 90 agents was achieving "exceptional results."
The shareholders were told the east coast team had 380 settled sales, for the 11 month period from April 2017. 
It had "achieved exceptional results with total sales of $695 million, total commissions of $10.2 million and 380 settlements for the year up to March 2018." 
Click here <a href="https://www.propertyobserver.com.au/images/2018/4/26/Agency_Comms.jpg" target="_blank">to enlarge.</a>
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The Agency Group utilised the shell company Namibian Copper, for its late 2016 ASX listing as Ausnet. The company raised $5.8 million as part of a backdoor listing and recapitalisation with shares initially trading at 3.3 cents on its 2016 listing. They shortly after hit 4 cents after the raising jointly underwritten by Patersons Securities and Transocean Securities and backed by retail finance broker Finsure Group, which took an initial 8 per cent stake in Ausnet. 
Click here <a href="https://www.propertyobserver.com.au/images/2018/4/26/AgencyWA.jpg" target="_blank">to enlarge.</a>
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The group has expanded mostly in WA with the SLP group now incorporated into its results.
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The Agency opened the doors of its Bondi Beach office early last year, billed as a “disruptive and fast growing real estate sales and property management business.”
It represented an experimental break from the traditional franchise model - aiming to be a true one-stop shop offering selling agents, property management services, as well as mortgage-broking services, settlement agents and insurance brokers. The stockmarket has been told agents have been referring around 60% of all sales for financing broking.
But the big difference was in contrast to the traditional franchise agency model, The Agency offered lucrative commission splits for the agents.
Franchise agencies usually take a 50:50 split on all the agents’ sales commissions, rarely with more generous 60:40 splits in the agents’ favour.However, The Agency offered agents a starting split of 75:25 split in the agents’ favour, rising to 80:20 and 85:15 as and when higher targets were met.
Agents are also offered a buy-in on the property management income stream.
That split lured top-performing selling agents away from leading east coast franchise groups.
On the announcement of CPS agreeing to get The Agency's fundraising underway, Paul Niardone said CPS Capital Group had "a strong track record of fundraising success and to have them support our capital raising is a significant milestone in the advancement of this transaction.
“We recently undertook a roadshow to meet with, and present to, a range of Australian small cap funds, institutions, and received overwhelmingly positive feedback."
But is appears the group is struggling to get east coast credibility. Established in 1996, its aim has been to become the "most reliable and trusted real estate and financial services company in the Asia Pacific region."
Subject to successful completion of the proposed capital raising, CPS Capital Group was to receive 6% of the underwritten amount, plus 2,000,000 ordinary shares in the company.
(An earlier version of this article indicated the Agency had lost its underwriter. It actually terminated its underwriter.)
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The Agency looking again for underwriter to help buy the McGrath rebels

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After another spray from the Federal Court, the Mossgreen administrators have thrown in the towel, telling the no-pushover owners of $5 million worth of art and antiques that their insurance coverage had lapsed.
The letter sent by the BDO administrators on Anzac Eve stunned clients, already angered at the way the administration had been undertaken ever since their appointment just prior to Christmas. 
BDO have advised the auction house clients to help themselves to their stored contents, though not to come through the besieged accountancy firm which had expended a $1 million stocktake that the Federal Court described as "intermeddling".
BDO sent an update today to consignors of Mossgreen. The second creditors' meeting has been decided as May 4. Secured creditors have been advised their payment is likely to be 2 cents in the dollar.
"The voluntary administrators are without funds to meet the ongoing expenses of preserving and facilitating the return of goods," James White, the admonished BDO administrator advised all Mossgreen clients by email on Thursday.
"Consequently, the voluntary administrators are no longer in a position to retain the company’s remaining two leasehold premises and have no alternative but to arrange for possession of those premises to be returned to their respective landlords, as of close of business, Monday, 23 April 2018.
Click here <a href="https://www.propertyobserver.com.au/images/2018/4/24/MOSS_LETTER.jpg" target="_blank">to enlarge.</a>
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"It will now be up to the landlords of those premises to co-ordinate the return of your consigned goods.
"Please contact the relevant landlord," the long suffering Mossgreen clients were told.
At the time of issuing the correspondence, the landlord for the Clayton warehouse indicated that he will seek to contact consignors directly in relation to the return of their consigned items.
BDO offered no indication of the return process of the former High Street headquarters.
"We remain in discussions with the landlords regarding how we might be able to assist them with the goods collection process, and to make available the work we have done to date to bring order to that process."
"However, you will appreciate that as we are without funds, we can no longer maintain insurance in respect of the consigned goods.
"We strongly recommend that you immediately ensure that you have your own insurance in place," White said.
One client indicated the "BDO's bloody-mindedness will tip the scales to ensuring state government's move to ensure in future that auction houses are covered by trust fund style regulations."
Mossgreen clients hope both landlords are disposed to readily assist in the return of the goods and chatels. Property Observer anticipated the landlords would become key stakeholders in our reportage last week.
BDO never provided "any satisfactory explanation" as to why they did not adopt a "common-sense approach" on an earlier quick return of the $5 million in art and antiques caught in the Mossgreen administration, the Federal Court of Appeal noted earlier this week.
The now published judgement that admonished BDO came after BDO was thrawted in its attempt to impose a hefty fee on all clients of the collapsed auction house, as they sought to recoup the $1 million in expenses undertaken without reference to the courts.
The fee often was more than the content's value.
The initial judgement by Federal Court judge Nye Perram ruled the BDO administrators were "intermeddling" in other people's goods in circumstances "where they had not been invited to do so, were not performing their statuatory functions and had not been appointed receivers."
While not agreeing to the entirety of Justice Perram's ruling, the judgement, signed off by the Honourable Chief Justice Allsop and Justices Banks-Smith and Colvin, reiterated the error in BDO's administration.
The judges noted given that the BDO administrators only sought directions after the event, in effect to approve the course that they had already undertaken.
It was initially estimated that Mossgreen held in excess of 10,000 items on consignment, held across three premises in Victoria, their High Street, Armidale premises, a site in NSW on Queen Street, Woollahra and a third party warehouse in Clayton, Victoria.
The goods were classified into the following categories:
1.    Items sold at auction prior to our appointment and not yet collected by purchasers;
2.    Unsold items of recent auctions held on consignment on behalf of vendors;
3.    Items held on consignment for future auctions;
4.    Items abandoned by purchasers and vendors;
5.    Items stored at the Company’s warehouse awaiting collection by vendors; and
6.    Artwork consigned to the Company to hang in the gallery.
The stocktake identified that Mossgreen retained 6,935 lots (or 4,663 lots excluding stamps and coins) on behalf of in excess of 800 consignors (or in excess 600 consignors excluding stamps and coins).
After including abandoned items, and allowing for the prospect that owners of such items were unlikely to make claims, the judges noted it could be seen that the extent of claims by individual owners to the return of individual items was not as overwhelming a task as BDO advised.
The total cost of the stocktaking exercise was $1,048,072. It comprised the following: wages of $240,747 as of the company’s 36 employees, after 19 were terminated in January 2018, the remainder were kept on.
An amount of $180,075 had been included for rent. An amount of $54,000 was included for insurance and $45,849 was included for security.
There was $122,605 allocated for the costs of engaging the Tiger stocktake company to undertake a complete stocktake of all consigned goods. 
Some $72,500 had been included for legal costs for obtaining advice as to consignor Tasks and seeking directions from the court.
Fes for the administrators were put at $126,551 and disbursements of $11,033 to 31 January 2018.
Actual administrator’s costs from 1 February 2018 to 16 March 2018 have been $200,715.
All of the above were based on estimates to 31 March 2018. 
The names of the art and antique creditors are a who's who from across Australia, ranging from passionate collectors, socialites, low key business tycoons to deceased estates.
Caught amid the clients, were Sydney's society Coppleson family listed as owed $465,000, the third highest-owed creditor.
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BDO says Mossgreen contents are now uninsured after copping a Federal Court shellacking 

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BDO never provided "any satisfactory explanation" as to why they did not adopt a "common-sense approach" on the issue of the return of $5 million in art and antiques caught in the Mossgreen administration, the Federal Court of Appeal has noted.
The now published judgement that admonished BDO came after BDO was thrawted in its attempt to impose a hefty fee on clients of the collapsed auction house, as they sought to recoup the $1 million in expenses undertaken without reference to the courts.
The initial judgement by Federal Court judge Nye Perram ruled the BDO administrators were "intermeddling" in other people's goods in circumstances "where they had not been invited to do so, were not performing their statuatory functions and had not been appointed receivers."
The <a href="https://propertyobserver.com.au/forward-planning/investment-strategy/property-news-and-insights/82443-meddling-bdo-appeal-federal-court-mossgreen-loss" target="_blank">BDO appeal indicated</a> that shortly after the appointment of the administrators to Mossgreen, BDO started to receive requests for the return of consigned items.
But instead of seeking directions at that point from the Federal Court about how the employees could be put to work using their specialist knowledge to deal with those requests and return the items to which Mossgreen made no claim, the administrators instead took alternate steps.
These included pursuing a costly stocktake of all consigned items irrespective of their value and whether they had been abandoned. BDO also sought a deed of arrangement or outright sale.
"There seems to be no reason why such requests for returns could not have been dealt with even while those other options were pursued by the administrators," the Federal Court of Appeal noted in today's published judgment.
While not agreeing to the entirety of Justice Perram's ruling, the judgement, signed off by the Honourable Chief Justice Allsop and Justices Banks-Smith and Colvin, reiterated the error in BDO's administration.
"A different course would have been to allow consignors to immediately make claims. 
"Directions could have been sought as to the process to be followed. 
"It may have involved the presentation by owners of statutory declarations, receipts, references to catalogues, descriptions of the items claimed (many of which, due to the nature of Mossgreen’s business, were unique in character and were amenable to ready description by identifying features) and release of items in accordance with usual processes followed by Mossgreen employees.
"Other steps could be taken to deal with items that were identified as having little value or had not been the subject of any claim for an extended period. 
"These steps, if presented to the court, could have been approved by way of directions or as part of a supervised process by which the administrators were appointed as receivers to the goods and many items could have been promptly released at much less cost," the judges ruled.
"No satisfactory explanation was provided as to why such a common-sense approach was not followed, or why it was not possible or not desirable or practicable," the judges noted.
The judges noted detailed affidavits provided by BDO administrator James White provided "no evidence" that he turned his mind to the extent to which the stocktake was needed in order to return most items to their owners (as distinct from providing the administrators with a complete list of all of the items held).
"There is no evidence of any thought process by which he considered the significance of the extent to which the items held were legacy items of little value, the extent to which the stocktake was necessary in order to deal with claims by owners, the extent to which the costs involved were proportional to the value of goods involved, and the likely cost to individual owners if the stocktake was undertaken."
"It is one thing to investigate the inventory management systems. 
"It is a different thing to consider how most efficiently to return the property of third parties to them. 
"The administrators were dealing with property to which the company had no claim," the judges adding the question was not whether Mossgreen had good inventory management systems but whether its existing systems could be used to promptly and cost-effectively return the consigned items to their owners."
The judges noted given that the BDO administrators sought directions after the event, in effect to approve the course that they have already undertaken, so then they must be able to demonstrate that they were justified in what they did.
It was initially estimated that Mossgreen held in excess of 10,000 items on consignment, held across three premises in Victoria, their High Street, Armidale premises, a site in NSW on Queen Street, Woollahra and a third party warehouse in Clayton, Victoria.
The goods were classified into the following categories:
1.    Items sold at auction prior to our appointment and not yet collected by purchasers;
2.    Unsold items of recent auctions held on consignment on behalf of vendors;
3.    Items held on consignment for future auctions;
4.    Items abandoned by purchasers and vendors;
5.    Items stored at the Company’s warehouse awaiting collection by vendors; and
6.    Artwork consigned to the Company to hang in the gallery.
The stocktake identified that Mossgreen retained 6,935 lots (or 4,663 lots excluding stamps and coins) on behalf of in excess of 800 consignors (or in excess 600 consignors excluding stamps and coins).
After including abandoned items, and allowing for the prospect that owners of such items were unlikely to make claims, the judges noted it could be seen that the extent of claims by individual owners to the return of individual items was not as overwhelming a task as BDO advised.
The total cost of the stocktaking exercise was $1,048,072. It comprised the following: wages of $240,747 as of the company’s 36 employees, after 19 were terminated in January 2018, the remainder were kept on.
An amount of $180,075 had been included for rent. An amount of $54,000 was included for insurance and $45,849 was included for security.
There was $122,605 allocated for the costs of engaging the Tiger stocktake company to undertake a complete stocktake of all consigned goods. 
Some $72,500 had been included for legal costs for obtaining advice as to consignor Tasks and seeking directions from the court.
Fes for the administrators were put at $126,551 and disbursements of $11,033 to 31 January 2018.
Actual administrator’s costs from 1 February 2018 to 16 March 2018 have been $200,715.
All of the above were based on estimates to 31 March 2018. 
James White noted that the ongoing cost of following the process that the administrators have adopted is $109,532 per week.
The judges noted that "to put the above estimates in context, Mr White says that he has estimated that Mossgreen held Consignor Property (being all of the property listed after the stocktake) in excess of $5 million in value.
"So, the steps that have been taken by the administrators have resulted in costs, which if charged to consignors, will substantially deplete the value of property to which the administrators lay no claim to at all."
Tye judges considered that there was potentially an entitlement to an equitable lien with respect to work properly done and expenses properly incurred that benefit a consignor by securing and protecting their property that is deposited at the company’s premises until it is returned under an efficient process proportional to the nature of the goods in question. 
"Whether equity would grant such lien and its extent may depend upon the value of the statutory lien and the particular circumstances of the administrators’conduct.
"We do not consider the administrators established a right to a lie as claimed and accordingly the grounds are dismissed
"The administrators have not demonstrated that they are entitled to a lien covering the type of costs and in the amount that they have asserted in their dealings with owners of the consigned items.
"There may be a lien in some amount that might arise in the circumstances of this case.
"However, the Court is now faced with an application for directions blessing conduct of a kind that is not justified on the basis of the nature and extent of the lien advanced to support the judicial directions sought. 
"Further, by reason of the conduct of the administrators in not seeking directions at an early stage when consideration might be given to all options, including issues of proportionality, the extent of any actual difficulties in dealing with the consigned items that might be redressed by the stocktake, the possibility of an appointment as receiver to the goods to implement a plan approved by the Court and an assessment of the likely costs before they are incurred, the Court is not now in a position to make that determination on the evidence presented to support the present application. 
"Owners have been held out of their consigned items for a considerable period and we question whether the administrators would be justified in delaying further the release of consigned items while there is some form of retrospective assessment of the amount of a lien that may be required to be paid as a condition of release of property to the owners."
The appeal should be dismissed, the judges ruled, with further aspects of the administration yet to be decided.
DB Studdy SC with RM Foreman, briefed by King &amp; Wood Mallesons represented BDO. Dr O Bigos, briefed by Piper Alderman, represented the aggrieved Mossgreen clients who have yet to be advised just when they will be able to retrieve what is rightfully theirs.
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The names of the creditors are a who's who from across Australia, ranging from passionate collectors, socialites, low key business tycoons to deceased estates.
Melbourne veteran caterer Peter Rowland was caught amid the clients, with around $166,000 owed to the catering company.
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Sydney's society Coppleson family were listed as owed $465,000, the third highest-owed creditor. Their Potts Point penthouse sold to Gretel Packer for $8.75 million.
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BDO failed the "common sense" approach to Mossgreen inventory administration

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R&amp;F Property Australia has today turned the sod on what will become one of Footscray’s most significant and largest urban regeneration projects – Live City.
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The site represents a new era for the Kinnears Ropeworks factory. 
The site is centrally positioned between the Victoria University, Western Hospital and Highpoint Shopping Centre.
The sit is being repurposed into a residential and mixed-use precinct of up to 1,450 dwellings. 
Built in 1908, the former Kinnears Ropeworks will require econservation works to be undertaken and R&amp;F Property Australia has told River and Yarraville Ward councillors it is committed to honouring the factory’s industrial past.
It is R&amp;F Property Australia’s first development in Victoria after purchasing the site in August 2016. 
Its experienced development team have been working with Heritage Victoria over the past 18 months to design and deliver an exciting new precinct which carefully balances the site’s State Heritage listing.
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R&amp;F Property Australia vice president Thomas Chiu said the project will create a lively community.
“Live City will set the tone for Footscray’s newest precinct with conservation of three heritage buildings, approximately 1,450 apartments, specialty retail, commercial offices and public spaces to bring this vibrant new community to life,” he said.
“The development comes with a vision to create a sustainable hub that integrates seamlessly with the surrounding local neighbourhood, along with increased housing and amenity for Melbourne’s inner- west. 
“We want to create lively communities that have good transport connections, shops, cafes and access to employment and education facilities,” Mr Chiu said. 
Development will be staged over the next 6-8 years, to incorporate six precincts with a project total end value estimated at $750 million. 
The first stage of Live City is located on the site’s western edge between Ballarat Road and Kinnears Street and will feature 208 residential apartments within three buildings.
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Heights will vary between eight and eighteen storeys and will comprise a mix of retail, residential and carparking facilities on the ground level.
R&amp;F Property Australia is part of R&amp;F Properties, a global property development group.
Its offices in Melbourne and Brisbane, R&amp;F Property Australia works closely with all levels of government, industry partners, local contractors and communities to create high-quality, high-demand mixed-use, residential, commercial, and urban development projects.
For more information <a href="http://ppmga.com.au/project/r-f-property-australia-l-v-e-project/" target="_blank">click here.</a>
 
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Construction begins at Live City, the $750 million Footscray regeneration project

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The Reserve Bank of Australian has again noted its concern about the borrowers who have have taken interest-only loans.
There are around 1.46 million interest-only (IO) mortgages.
Some commentators reckon these loans are the making of a localised crisis the equivalent not seen since the 2008 United States subprime disaster which triggered the global financial crisis. 
There's no doubting IO loans are potentially toxic or otherwise our regulators would not have hastened their recent crackdown.
The borrowers were initially tax minimising investors but a troubling number were then home buyers who took the cheapest borrowing route to upsize to the priciest home they could be calculated by their lenders to afford.
The RBA figures show around 30 per cent of mortgage debt as subject to the upcoming IO reset, with its peak in 2020.
The RBA estimates around $120 billion in IO mortgages will convert to back to the traditional principal and interest loans (P&amp;I) every year between now and 2021.
The sting in the tail of these lower-repayments IO loans is that they apply for typically five years.
At the end of that period, the repayments step up as instead of paying the principal off over 30 years, borrowers will be repaying it back over 25 years.
When IO loans reset it is estimated repayments will leap for the borrower by between 30 to 40 per cent.
The Reserve Bank admits these resets are an "area of potential concern".
They anticipate most borrowers "should be able to afford the step-up in mortgage repayments" because they have accumulated substantial prepayments.
But I'm not as optimistic given the landscape has changed in regard to lending capacity rules along with the deterioration in price growth.
Given lenders have already increased the rate of the interest for exisiting IO loans, the RBA had noted switching out was underway voluntarily.
And already some banks have spotted a small increase in arrears among borrowers switching to P&amp;I loans 
"Partly, this was borrowers taking time to adjust to the higher required repayments, but most subsequently returned to meeting their payments in full," the RBA acknowledged.
Because of the recent slowing in price growth, I'd suggest the prospect of negative equity could rear its ugly head just as borrowers wish to refinance, rather than cop the higher repayments.
Borrowers who bought before the tightening of lending criteria by the Australian Prudential Regulation Authority will no longer qualify for the same loan amount, due to serviceability issues.
So home owners and investors investors will face challenges rolling over or renegotiating their loans and holding onto their property, or property portfolio. 
Treasurer Scott Morrison anticipates APRA's restrictions have reduced high risk activity in his desire for a "soft landing" for the housing market and Australian economy.
For borrowers the time for reviewing, planning and managing household budgets starts now.
This article was first published in the Saturday Daily Telegraph.
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Interest only loans are a toxic ticking bomb for Australian economy

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An 1880s Darlinghurst manor has listed with $10 million hopes has been sold.
Reworked in 2010 by Alex Smith of CSA Architects, the home at <a href="https://www.realestate.com.au/sold/property-house-nsw-darlinghurst-128041810" target="_blank">87 Barcom Avenue</a>, was quickly snapped up three weeks into its marketing.
Built in 1882, the grand family home of the McGrath family has been featured in the pages of Belle and Mansion Australia magazines, and on Yellowtrace design blog.
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It is set on an elevated 592 sqm block with 14m street frontage.
Inside there are soaring four metre ceilings.
The home has five bedrooms plus a study with interiors by Arent &amp; Pyke, the duo Juliette Arent and Sarah-Jane Pyke.
Arent &amp; Pyke developed a strategy to pair lofty and architecturally rich spaces, with heritage detail of ornate cornices and skirting boards, "where texture and refinement contrast and enrich the whole."
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There's an entertainer's billiard and rumpus room with 1200 bottle wine cellar.
George Cleary at BradfieldCleary described it as "the ultimate urban sanctuary." 
The restored grand Barcom Terrace had been converted to a boarding house in 1958 and then further converted to six self contained flats in 1983.
This article was first published in the Sunday Telegraph.
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Transformed Darlinghurst manor sells after $10 million hopes

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<div>Auction activity remained relatively steady across the capital cities this weekend, with a total of 1,746 homes taken to market.</div>
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<div>Though estate agents report that prices are turning lukewarm.</div>
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<div>With school holidays recently underway, many of the weekend offerings were in seaside localities before the onset of the winter hibernation.</div>
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<div>At Blairgrowrie (above), there was a $550,000 sale of one of the Mornington Peninsula’s original holiday homes.</div>
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<div>Set among tea trees, the one bedroom weatherboard at <a id="LPlnk378485" href="https://www.realestate.com.au/property-house-vic-blairgowrie-127984398" target="_blank">424 Melbourne Road</a> had been listed with a $545,000 to $599,500 price guidance.</div>
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<div>It last sold at $49,000 in 1998.</div>
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<div>At Ettalong Beach on the NSW Central Coast, <a id="LPlnk162968" href="https://www.realestate.com.au/sold/property-house-nsw-ettalong+beach-127952406" target="_blank" rel="noopener noreferrer">a three bedroom brick house at 96 The Esplanade offered</a> for the first time in four decades was snapped up pre-auction for $1.65 million.</div>
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<div>A three bedroom Main Beach apartment was sold for $580,000. Set in The Meriton, the apartment at <a id="LPlnk122373" href="https://www.realestate.com.au/property-apartment-qld-main+beach-127875822" target="_blank" rel="noopener noreferrer">7/29 Woodroffe Avenue</a> last traded in 1998 at $240,000.</div>
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<div>Ray White Queensland conducted 50 auctions on the Gold Coast to leverage off the Commonwealth Games hype. </div>
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<div>Around a quarter were sold.</div>
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<div>The sales included a $3.93 million five-bedroom home at <a id="LPlnk611392" href="https://www.realestate.com.au/property-house-qld-sovereign+islands-127845274" target="_blank">15 Queen Anne Court, Sovereign Islands</a> which is under offer (below).</div>
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<div>The national success rate of 63 per cent increased from last week’s final clearance rate which saw the lowest result so far this year at 61.7 per cent from 1,915 auctions.</div>
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<div>CoreLogic noted units outperformed houses, with 65 per cent of units finding buyers compared to a cooling 62 per cent success rate for houses.</div>
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<div>Click here to enlarge.</div>
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<div>Melbourne saw a total of 905 auctions take place this weekend, returning a 63 per cent preliminary clearance rate, with the inner east again the weakest region with just 48 percent finding buyers.</div>
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<div>Parramatta's 38 percent was Sydney's weakest region, well below the improved overall 66 per cent success rate from the reduced 551 auctions held.</div>
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<div>Sydney's top sale was at Strathfield. The <a id="LPlnk273019" href="https://www.realestate.com.au/property-house-nsw-strathfield-127950374" target="_blank" rel="noopener noreferrer">5 Firth Avenue property </a>sold at $5,715,000. The six-bedroom designer residence on 920 square metres came with basement parking for six cars.</div>
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<div>The top Melbourne sale was in Albert Park, where a knockdown at <a id="LPlnk734369" href="https://www.realestate.com.au/property-house-vic-albert+park-127936178" target="_blank" rel="noopener noreferrer">42 Draper Street</a> sold for $3.85 million.</div>
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<div>The three bedroom brick house sits on a 333 sqm block, a deceased estate held in the same family for half a century. The indicative price guide had been $2.9 million to $3.19 million, with three bidders pushing it $650,000 over reserve.</div>
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<div>An Elwood home, with balcony and garage door designed resplendent with leaf ornamentation, was among the weekend offerings.</div>
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<div>The leafy panorama featured on the front facade of the home at <a id="LPlnk208043" href="https://www.realestate.com.au/property-house-vic-elwood-127904294" target="_blank" rel="noopener noreferrer">5 Ruskin Street</a> (below) which was listed with $2.8 million to $3 million hopes. </div>
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<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/4/23/elwood.jpg" alt=""> </div>
<div>
This distinctive four-bedroom residence boasts four bathrooms, a study retreat, open-plan living-dining zone and pool. 
James Meldrum, of RT Edgar advised it was under contract, though without price disclosure.
A Cheltenham house that dates back to the early 1900s was passed in at $1.4 million.
It had been tipped to have seen a battle between renovators and developers. 
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The three-bedroom house on 750sq m at <a id="LPlnk530451" href="https://www.realestate.com.au/property-house-vic-cheltenham-127953114" target="_blank" rel="noopener noreferrer">12 Coape Street</a> had a price guide of $1.375 million to $1.475 million after its quote was increased.
Buxton agent Matthew Gray said the property was among the oldest in the suburb, but does not have any heritage protection. The historic Cheltenham home features a hipped roof, front veranda, double-hung windows and four fireplaces.
</div>
The nation's cheapest auction sale was $271,000 in Adelaide, a three bedroom, one bathroom 1970s home at <a id="LPlnk504643" href="https://www.realestate.com.au/property/16-tolley-cl-paralowie-sa-5108" target="_blank" rel="noopener noreferrer">16 Tolley Close, Paralowie</a>.</div>
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Beach offerings amid weekend auctions before winter hibernation

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Fremantle Dockers veteran Hayden Ballantyne is yet to sell his Hopeland, WA rural estate.
The <a href="https://www.realestate.com.au/property-house-wa-hopeland-127863626" target="_blank">25 hectare agistment property</a>, some 50 kilometres south of Perth, has been listed with $1.05 million plus hopes.
It was bought in 2011.
The listing photos give an obvious nod to Ballantyne's ownership, with his framed number 1 jersey in the theatre room, along side memorabilia gathered over his nine year career.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/3/28/hopeland%202.jpg" alt="">
Since his purchase the forward has added a main modern residence, wrapped in a verandah and complete with four bedrooms, separate office and a rumpus room.
There's 32 paddocks with horse rail fencing and an onsite managers cottage for additional farming income.
Ballatyne tried to sell the property before in 2013.
It's for sale through Greg Penn at Realmark Mandurah, who had set an April 15 auction.
Ballantyne was drafted by Fremantle when he was 21 as a second round pick in the 2008 draft.
In late 2016 Ballantyne married his long-term partner Alyssa Hennessy in nearby North Dandalup. They have two children. 
This article was first published in The Weekend Australian.
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Hayden Ballantyne selling Hopeland rural estate

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BDO has lost another judgement in the ongoing saga of its Mossgreen voluntary administration.
The Federal Court of Appeal knocked out it case this morning, with the reasons yet to be issued.
The return of art and antiques to their vendors/buyers is no sure thing, as the possibility of any unpaid rent could see the High Street, Armadale and Clayton landlords lock up the premises and hold the goods in the worst case scenario.
Click here <a href="https://www.propertyobserver.com.au/images/2018/4/19/courtorder.jpg" target="_blank">to enlarge. </a>
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The matter related to BDO's administration of the Mossgreen goods and chattels, especially costs relating to their storage and insurance.
BDO had been seeking to charge clients of the collapsed auction house for the return of their goods.
Clients were furious at BDO's attempts to charge a fee – levied at $353 per lot – to have their own property returned, especially as some lots were going to cost more for their return that their actual value.
The initial judgement savaged the accountancy firm.
Federal Court judge Nye Perram ruled the administrators were "intermeddling" in other people's goods in circumstances "where they had not been invited to do so, were not performing their statuatory functions and had not been appointed receivers."
"Accordingly, they are not justified in requiring the consignors to pay a levy for the return of their goods," he ruled.
"In reaching this conclusion I have not disregarded what is sometimes referred to as the 'salvage' nature of the work done by external administrators or the concomitant need to ensure that persons are not deterred from doing such work in the future.
"But that well-founded policy consideration cannot provide cover for external administrators who decide to deal in assets of other persons for no reason relating to the administration of which they are seized," the judgement said.
"I conclude, therefore, that the alleged equitable lien does not arise.
"On the other hand, they are entitled to a lien for disposing of goods which ultimately turn out to be unclaimed and they should be entitled to realise those goods and, subject to any claim, apply the proceeds for the purposes of the administration."
The judge has noted the issue of the ongoing storage costs at the Armadale (pictured) and Clayton premises had become the centre of the unravelling legal embroglio.
His honour noted the issue was one of "spot fires' that had arisen during the voluntary administration.
BDO's James White urgently sought by way of interlocutory application a series of directions to protect the besieged accountancy firm in terms of storage rental and insurance costs going forward.
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"The effect of my decision is that the administrators, to the extent that they have been conducting the process of looking after and attempting to return by means of orderly stocktake the consigned goods to the consignors, have acted outside the functions which are conferred on an administrator and, accordingly, they are not entitled to indemnity or remuneration in respect of that," Federal Court judge Nye Perram noted in another judgement.
"The consequence of that conclusion, so far as rent which has been paid in the past is concerned, is that the rent is the administrators’ cost," he noted.
There was a stocktake that cost more than $1 million which Federal Court judge Nye Perram noted could have been court approved if permission had been sought by BDO prior to its undertaking.
The auction house held 1000s of goods belonging to other people, consisting of:
(a)  goods delivered to it to be auctioned but which had not yet been auctioned at the time the administrators were appointed;
(b)  goods delivered for auction but which had failed to sell and which were awaiting collection by their owners; and
(c)  goods which, although successfully sold at auction, had not yet been collected by the successful bidder.
The initial case judge noted a number of persons whose goods were successfully sold at auction by Mossgreen now claim that the money received by it from their respective purchasers is held on trust for them and is not, therefore, available for general creditors.
The three-cornered contest between the administrators, the trust-asserting consignors and the secured creditor is to be determined by the court later this year.
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The besieged administrator of collapsed auction house has yet to advise, today Thursday, when clients and buyers can collect the artwork and collectibles.
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BDO administrator James White had previously said the levy was "not negotiable". 
ASIC has reportedly not yet raised any concerns in relation to the administrators' conduct, but is expected to once the legalities are all done.
The administrators meet quick initial resistance when they told the first meeting of creditors in January that were exploring court judgements on whether a constructive trust arrangement existed.
Minter Ellison lawyer Lindsay Powers, on behalf of art collector Michele Asprey, suggested "this was the clearest case of a trust relationship he has encountered." 
Michelle Asprey was among those who presented their argument regarding the $353 levy in the recent court case over the proposed BDO fee.
The administration came December 21 following failed fundraising attempts.
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Sumner, who did not attend the first meeting, blamed the current circumstance on growing "a little bit fast."
There were 330 creditors initially identified at the meeting who were told no law required trust accounts for the auction proceeds.
There has yet been a second creditors meeting, given a court extension has been granted.
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The names of the creditors are a who's who from across Australia, ranging from passionate collectors, socialites, low key business tycoons to deceased estates.The biggest unsecured creditor stemmed from the auction of a book collection.
Some $1.75 million is owed to the family of the late wealthy insurance underwriter Martin Copley who auctioned off the books in October.
His auction items included John Gould's monumental The Birds of Australia, a large folio in eight volumes with 681 hand-coloured lithographed plates, bound in dark green morocco by Riviere, an original subscriber's set, which sold at $446,400 including premium.
The second biggest client was another deceased estate, that of the late South Australian building industry icon Alan Hickinbotham and his late wife Margaret.
It was billed as the highest value collection ever to be sold in Adelaide when auctioned in May by Mossgreen's chief, Paul Sumner.
Sydney's society Coppleson family were listed as owed $465,000, the third highest-owed creditor.
It followed the sale of the contents of the Macleay Regis penthouse, home (pictured top) of the late esteemed gynaecologist Professor Malcolm Coppleson and his late wife, Patricia, who was Vogue Living’s editor-at-large.
The 172 lots included the sale of a $192,200 Ian Fairweather work which had an $80,000 to $120,000 price guidance. A Tim Maguire fetched $117,800.
Mossgreen's last auction on December 7 last year was the contents of the Sheehy family with just 274 of the 438 lots being sold. The family, who are owed $45,000, inquired at the meeting whether Sumner's passport would be surrendered.
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BDO lose another Mossgreen administration Federal Court judgement

<a href="https://www.apartments.com.au/developers/consolidated-properties">Consolidated Properties Group</a> (CPG) is approaching the launch of its latest Brisbane riverfront development, Castile, on the dress circle Skyring Terrace in Newstead.

VIP buyers are now being engaged, with a full public sales launch coming later this year.

Positioned as the final opportunity to secure a new absolute riverfront residence on the East bank of Newstead, Teneriffe or New Farm, Castile at 47 Skyring Terrace has been designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> as a timeless addition to the Brisbane skyline.&nbsp;

[smartcode_project:default project_id=150489 project_image_fid=371113]

The name Castile draws on themes of permanence, sophistication and legacy, reflecting a broader vision centred on enduring architecture and timelessness in the rarest of riverfront positions.&nbsp;

CPG Chairman and CEO Don O’Rorke said the project had been envisioned as a future Brisbane icon.&nbsp;

“With 47 metres of direct river frontage and never to be built out views, 47 Skyring Terrace is the definitive address on the Brisbane River,” O’Rorke said.&nbsp;

[smartcode_project:default project_id=150489 project_image_fid=371114]

“Rather than following trend-based apartment design, Castile draws inspiration from Brisbane’s great heritage buildings, reinterpreting classical architecture into a contemporary riverfront landmark designed to stand proudly for the next 100 years,” he said.&nbsp;

The approved development will comprise 227 apartments across a 25-storey tower alongside a boutique six-storey riverfront building of just 12 residences.&nbsp;

Construction is scheduled to commence in September 2026.

[smartcode_project_cta:default project_id=150489]

Joel Robinson

CPG unveils Castile Newstead ahead of upcoming sales launch

Australia’s online shopping habits have shifted dramatically over the last decade. As eCommerce volumes surged, so too did the frustrations that came with traditional parcel delivery: missed deliveries, long Post Office queues, parcel theft and the challenge of being home during business hours.

Australia Post’s Parcel Lockers emerged as one of the more practical responses to that changing consumer behaviour.

What started as a relatively niche delivery option has evolved into a nationwide network of more than 1,400 self-service Parcel Lockers positioned at train stations, shopping centres, supermarkets and Post Offices across the country. The system allows Australians to send, collect and return parcels 24 hours a day, fundamentally changing how many people interact with deliveries.

The appeal is relatively straightforward: flexibility.

Instead of waiting at home for a delivery driver or rushing to a Post Office before closing time, users can direct eligible parcels to a Parcel Locker location of their choice. Once the parcel arrives, Australia Post sends a notification with a collection code or QR access through the AusPost app, allowing customers to retrieve their package at any time within the collection window.

For apartment residents in particular, the system has become increasingly valuable.

Higher-density living has created logistical challenges around deliveries, especially in buildings without concierge services or secure parcel rooms. Missed deliveries are common, while parcel theft has become an increasing concern as online shopping volumes continue to rise.

Australia Post itself has repeatedly highlighted the growing issue of “porch pirates” during peak shopping periods, encouraging customers to use Parcel Lockers as a safer alternative to unattended home deliveries.

That security aspect is one of the key reasons the Australia Post Parcel Locker network has grown so rapidly.

Parcel Lockers are positioned as secure, monitored collection points that reduce the risk of theft while also improving delivery efficiency for Australia Post. Instead of multiple redelivery attempts, parcels can be consolidated into a single secure destination.

The Parcel Lockers themselves are free to use through a MyPost account and support a range of parcel sizes up to 16 kilograms and dimensions of approximately 35 x 44 x 61 centimetres.

Beyond receiving parcels, the system has increasingly become integrated into the broader eCommerce ecosystem.

Customers can now use Parcel Lockers to return online purchases, while retailers have embraced the model as a way to improve delivery success rates and reduce friction in the shopping process. Australia Post has actively expanded partnerships with major retailers and promoted Parcel Lockers as part of a broader out-of-home strategy.

The timing of that expansion aligns with broader changes in Australian shopping behaviour.

The acceleration of online retail during and after the pandemic placed enormous pressure on delivery infrastructure. Parcel volumes reached record highs, particularly during Black Friday and Christmas periods, with Australia Post delivering more than 100 million parcels during peak festive seasons.

That growth forced logistics providers to rethink the “last mile” of delivery, widely regarded as the most expensive and operationally difficult stage of the process.

Parcel Locker systems have increasingly been viewed as part of the long-term solution.

The concept itself is not unique to Australia. Parcel Locker networks have become common globally, particularly across Europe and Asia, where dense urban environments and apartment living create similar logistical challenges. But Australia’s geography and suburban sprawl made adoption slower initially.

Now, however, the convenience factor is driving mainstream usage.

For commuters, Parcel Lockers near train stations allow parcels to be collected on the way home from work. For apartment dwellers, they remove the uncertainty around access and missed deliveries.

The rise of the AusPost app has also streamlined the experience, centralising notifications, tracking and Parcel Locker access into a single platform. Australia Post has increasingly pushed customers toward app-based delivery management, partly as a way to combat phishing scams and fake delivery notifications, which have become more sophisticated in recent years.

The Parcel Locker model is also beginning to influence property development itself.

Parcel management has become a growing consideration in apartment building design, particularly as online shopping becomes embedded in everyday life. Many new residential developments are now incorporating dedicated parcel rooms or Parcel Locker systems into foyers and communal spaces.

For developers, parcel management is increasingly viewed as part of the broader resident amenity offering, alongside gyms, wellness spaces and communal work areas.

That reflects a wider evolution in how residential buildings are designed.

Apartment buyers are placing greater emphasis on convenience, security and operational functionality, particularly in higher-density urban environments. Parcel delivery, once considered a minor operational detail, has become an increasingly important part of that equation.

Australia Post’s Parcel Locker network sits at the centre of that behavioural shift.

What began as a simple alternative delivery option has evolved into a key piece of infrastructure supporting Australia’s growing eCommerce economy and changing urban lifestyles.

And as online shopping continues to expand, the role of Parcel Lockers is likely to become even more embedded in how Australians live, shop and receive goods.

How Australia Post Parcel Lockers changed parcel delivery convenience in Australia

Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

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Jonathan Chancellor

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