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Macquarie Investment Management doesn’t expect the solitary rate cut will be sufficient to materially stimulate consumer spending or the housing market.
It has suggested the latest employment reading could be crucial in determining whether rates are cut again next month.
But Macquarie foresees that retail spending over Christmas will remain lacklustre and firms will continue to trim payrolls in order to protect profits. It says in that case the RBA will be forced to resume the rate cutting cycle.
“In our view, three further 25bps rate cuts in February, May and August 2012 appear most likely,” Macquarie says.
Of the 40% or so of households who currently have a mortgage, more than half of them are already paying more than their minimum monthly repayment.
“We think that most of these households will simply take advantage of the reduced interest payment to increase their principal repayment and pay off their mortgage more quickly.
“At the margin, those households that had fallen behind their mortgage repayments will certainly welcome any interest rate relief. But, relatively speaking, this will only affect a handful of people – something like 0.1% of households,” it says.
“Obviously, there will be some positive effect on consumer spending. But this will be only modest.
“And one rate cut won’t be sufficient to turn a sombre Christmas into a boom.”
But Macquarie thinks the reduction in interest rates may have more of an effect on the housing market.
“Lower interest rates boost the purchasing power of potential homebuyers,” it says.
“This means that there are more potential buyers for any particular property.
“That will provide some support to home prices which have been consistently falling over 2011.
“Indeed, we think that falling house prices – by reducing household wealth – have been one of the factors contributing to the cautiousness of consumers over the past year.
“Alongside increased housing turnover and firmer prices, lower interest rates will also support construction activity.
“Again, those potential households that have deferred entering the housing market because of low affordability may now be emboldened to dip their toe into the market.”
Macquarie stresses that if people believe that the November rate hike is a one-off, it is more likely that they won’t change their behaviour and the economy won’t get a boost in the middle of 2012.
“Paradoxically, by suggesting that rates won’t be cut further, the RBA may increase the likelihood that they will need to fall further in 2012,” the Macquarie report notes.
<a href="/news">HIA and Westpac concur that more rate cuts are needed.</a>
 
 
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jchancellor-FAypfDUnLy

One rate cut not enough to help economy, but watch employment data: Macquarie

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The real estate agent fined $200,000 in damages last month after a deceptive Toorak auction now faces disciplinary action.
Consumer Affairs Victoria director Dr Claire Noone has asked the Victorian Civil and Administrative Tribunal to hold a disciplinary inquiry following the conclusion of the civil case.
Last month a County Court judge awarded damages to Dr Chris Moss and his wife, Andrea John, after RT Edgar agent Greg Herman was found to have artificially inflated the offers on a Toorak property to $2.7 million.
The damages payout may now be followed by an inquiry to determine if Herman was ''fit and proper'' to hold a real estate agent licence.
Depending on the result of its inquiry, VCAT can either reprimand Herman and his agency or impose stricter penalties, which include suspending or cancelling licences.
Herman has declined to comment since the case.
The Director of Consumer Affairs Victoria issued a notice yesterday indicating she had applied for “disciplinary inquiries” against both the corporate licensed estate agent RT Edgar (Toorak) Pty Ltd and agent’s representative Gregory Herman-Moore (known as Greg Herman).
It applied to VCAT for a disciplinary inquiry into the conduct of the agency and Herman-Moore, 51, under the Estate Agents Act 1980.
The matter will be listed in VCAT at a date to be fixed.
 
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Toorak agent faces disciplinary action

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{yoogallery src=[images/stories/november10gibney]}
Packed to the Rafters star Rebecca Gibney and her husband, artist Richard Bell, are selling the Clareville home (pictured above) they bought in 2009, with the couple simply not having time to turn it into their dream home. The family, who recently sold in Tasmania, are intent instead on finding a contemporary house in the Pittwater precinct north of Sydney.
“Due to increasingly busy schedules, we have decided not to renovate our home on the northern beaches,'' Gibney has told the local press on listing the property through Andrew Blake and Cathy Agosti from Andrew Blake Real Estate.
“It has been a real haven and we will miss the privacy and great views. We love the area,” Gibney says.
The four-bedroom house on a 948-square-metre block has views of Pittwater towards Ku-ring-gai Chase national park and is within walking distance of the beach and shops. It cost $1.22 million in 2009.
The couple’s renovation plans, which had been recently approved by Pittwater Council, included a new pool, enclosing the carport and first floor additions and had been projected to cost $414,000.
{yoogallery src=[images/stories/november9gibneytassie]}
Their four-bedroom Tamar Valley home, River Point House (pictured above) – which cost $650,000 in 2003 – was sold for $1.15 million in February 2011 having been listed with a $1.3 million price through Roberts Tamar agent Kerry Sanders in late 2009. It had been available as a $1,700 weekly holiday rental since it came with private beach, boat ramp and boathouse. The couple had paid $650,000 in 2003 for the 1981 house set on seven hectares on a bend of the Tamar River at Kayena, north of Launceston.
In 2007 Gibney shot to local and national attention after attending anti-pulp mill rallies in Launceston protesting against Gunns Limited's planned pulp mill on the Tamar River at Long Reach, some five kilometres downstream from Gibney's then home.
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Rebecca Gibney abandons her rafter additions due to packed schedule and lists Clareville home

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As we look to what's ahead for 2012, Property Observer is republishing some of our most noteworthy stories of 2011.
 
Hassad Food, the agriculture arm of a Qatari sovereign wealth fund, has now spent $65 million on NSW sheep and cattle stud farms.
Its acquisitions total about 26,000 hectares.
The total includes $28 million since June in an investment strategy replicated across the world, with the primary purpose of achieving food security for the Gulf states.
Before the latest acquisitions Qatar's sovereign wealth fund Hassad was ranked as the second-biggest agricultural investor in NSW rural land during the previous 12 months, behind Macquarie's pastoral fund.
In 2010 Hassad Foods spent $36 million buying sheep and cattle properties covering 11,800 hectares, including $9.7 million on the 8,560-hectare merino stud farm Raby Station, near Warren, in late 2010.
Hassad's most recent rumoured purchase was sheep grazing and cropping land in western Victoria for $35 million, which sparked political disquiet about sovereign wealth funds' appetite for rural land and enterprises.
The Senate inquiry into land ownership continues.
Photograph by Lorraine Phelan
 
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Qatar-based Hassad Food now owns $65 million worth of rural NSW property

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The NSW Merino stud property Raby Station at Warren flew an Australian flag proudly at its front gate during the Muir family’s lengthy ownership.
Measuring six metres by three metres, fastened to a 14-metre steel flagpole, it represented a display of nationalistic pride in the middle of the Macquarie Valley.
From time to time some larrikin stole the flag, but John Muir always replaced it.
Not sure if the flag still flies, and even if it does, whether it represents that same sentiment since the sale of the showplace 8,560-hectare holding last year for $9.72 million to Hassad, Qatar's sovereign wealth fund.
Raby had previously traded in 1982 when the Muir car dealership family bought it during CSR’s divestment of its drought-stricken pastoral properties.
Estimates earlier this year ranked the Arab Gulf state wealth fund as the second-biggest agricultural investor in NSW rural land during the previous 12 months, second only to Macquarie's pastoral fund.
That was before its latest buying spree. Hassad Food, the agriculture arm of a Qatari sovereign wealth fund, has now spent a further $28 million since June,<a href="https://www.propertyobserver.com.au/rural/qatar-based-hassad-food-now-owns-%2465-million-worth-of-rural-nsw-property/2011110952272" target="_blank"> taking its expenditure on sheep and cattle stud farms to $65 million</a>. Its holdings total about 26,000 hectares.
It’s an investment strategy replicated across the world, with the primary purpose of achieving food security for the Gulf states.
The federal government would have us believe some 89% of Australia's agricultural land is owned by Australians.
Its recent Australian Bureau of Statistics survey, the Agricultural Land and Water Ownership report concluded that 353 million hectares of Australia's 398 million hectares of farming land was entirely Australian-owned.
It was the first official figure on the subject in more than 25 years, but the voluntary nature of the survey was one of its flaws and the ABS indicated it had surveyed a sample of 11,000 agricultural businesses.
Another recent study was undertaken by PRDnationwide which shows just how rapdily acquisitorial foreign buyers have been in recent years.
PRDnationwide NSW research manager Oded Reuveni Etzioni says Australia represents good value to foreign buyers targeting distressed agricultural assets. The researcher says the figures reveal the strength of foreign investment in the state.
Figures on foreign investment show China has the highest spend – forking out more than $189 million to purchase land in mining regions, with a smaller share of funds invested into vineyards. 
Etzioni says the top owner of land in NSW in terms of dollars invested was Shenhua Watermark, with total funds exceeding $158 million.
“The Chinese coal miner owns approximately 33,000 hectares in the Gannedah region, with arable land purchased over the past two years accounting for a large portion of it,” he says.
It noted the biggest offshore primary production land investors were from the UK, with land ownership over 613,000 hectares. This was followed by Korea with holdings inexcess of 227,300 hectares and the US with land ownership of 55,560 hectares.
PRDnationwide found UK’s John Swire and Sons were the largest foreign land owner in NSW – accounting for 92% of the total UK holdings identified in NSW through wholly owned subsidiary Clyde Agriculture – however the company is in the process of offloading a significant part of its portfolio.
“Another UK investor in mixed farming – MHPF fund – is now in expansion mode, acquiring agricultural land across the state,” Etzioni says. It’s backed by expatriate <a href="https://www.propertyobserver.com.au/rural/billionaire-michael-hintze-dons-cotton-in-wee-waa-rural-acquisition/2011092651682" target="_blank">Michael Hintze, the London-based hedge fund boss who PRD ranks as the third in terms of dollar investments</a>, with a total land ownership exceeding $100 million and growing.
The Korean Young An Group has been investing in Wanaaring near Bourke since 2010 and now holds approximately 215,600 hectares in the region.
The PRDnationwide research found foreign investment in grazing properties is largely concentrated in the state’s west, while mixed agriculture and cropping operations are found in the Orana, Central West and Riverina districts.
The researcher recalled former Queensland Premier Joh Bjelke-Petersen's comments that the Japanese had sold many of their Queensland assets, realising losses of over a billion dollars.
While appreciating the Japanese role in job creation and a strong infrastructure base for the state of Queensland, the PRD report noted the Japanese experience had prompted the state to establish a foreign ownership of land registry, the only one to do so in Australia.
It is clear that the extent of current land ownership by foreign countries – and especially foreign government-owned entities – requires further scrutiny and regulation.
PRD wisely recommends the establishment of a state registry to track the foreign ownership of land.
It also suggests the current Foreign Investment Review Board’s threshold of $231 million per transaction should be lowered, to capture an increasing number of assets purchased by foreign investors.
Foreign ownership and utilisation of our farms - and food supply implications - has the potential of being a significant issue in the next Federal election. An informed debate would be worthwhile, hopefully without any xenophobic dog whistle undercurrents.  
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Time to fly the flag for rural land ownership regulation

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Cassegrain Wines, a winery and tourist business in the Hastings River region on the NSW Mid North Coast, has been listed for sale.
The maker of fine reds and whites is offering the 38-hectare Port Macquarie site, with offers due by December 14. Cassegrain’s winemaking team is headed by John Cassegrain, considered to be somewhat of a pioneer through his interest in establishing new regions, encouraging sustainable farming practices and exploring new grape varieties.
The Pacific Highway winery overlooks vineyards and rose gardens created by John’s wife, Eva Cassegrain. The lawns of the oval form a natural amphitheatre, where a number of concerts are held each year.
It dates back to 1980, when Gerard and Francoise Cassegrain believed the district's temperate maritime climate would be suited for the production of premium table wines.
Awards and accolades have flowed since production of the first vintage in 1984.
The couple's son, John, and his wife, Eva, in conjunction with three partners, bought the winery from the family in 2001 and embarked on a new era for Cassegrain wines.
In 2005 the then ASX-listed Simon Gilbert Wines Ltd acquired a 70% stake in Cassegrain Wines in a $3.75 million deal. John and Eva Cassegrain  held the other 30%, with John continuing as chief winemaker.
The restructured Cassegrain Wines company included stakeholders James Kirby and Macquarie Bank executive Ian Johnson.
At the time SGW chief Paul Pacino told the Newcastle Herald wine writer John Lewis that Cassegrain sold about 50,000 cases of premium wine a year and had revenues of about $5.6 million.
After several internal restructures John and Eve Cassegrain regained control of the Port Macquarie Cassegrain Wines company in 2008.
The Cassegrain family fortune was initially based on the Expressway Spares spare parts and machinery repair company founded by Gerard Cassegrain on the Pacific Highway opposite the vineyard.
It’s been listed through Kevin Debreceny Real Estate Port Macquarie in conjunction with Collier International Rural and Agribusiness agents Tim Altschwager and Nick Dean.
“The sale of Cassegrain Winery presents a wonderful opportunity for purchasers wishing to establish a foothold in the wine industry or expand existing holdings through an established brand,” says Altschwager, the senior executive of Rural and Agribusiness at Colliers International.
“Its extensive improvements include a winery plant, a barrel store, cellar door, administration facilities, laboratory, bottling lines, warehouse, vineyard, outdoor function and event space.”
“The three certificates of title provide important flexibility.
“The vendors would be pleased to consider multiple expressions of interest in all or parts of the assets described.”
Dean, national consultant for Rural and Agribusiness at Colliers International, says there remains “considerable scope for further development of the 38 hectare site subject to necessary consents.”
“Application has been made to change the zoning, which would allow for more tourism facilities.”
“The founding proprietors have built a respected quality brand which is a regular recipient of industry awards.
“The property has specialised winery equipment providing a normal vintage capacity of around 1,800 tonnes.
“Existing resources could handle increased production.
“Cassegrain Wines has operated on the site since it was established in 1985 and is the nucleus of the Hastings River wine region,” Dean notes.
The agents declined to give a price estimate.
 
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Premium NSW Cassegrain winery put up for sale

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NSW Fair Trading now believes somewhere between $500,000 and $1 million is unaccounted for after initial investigations into the LJ Hooker Surry Hills real estate agency.
Following allegations of trust account deficiencies, the Fair Trading Commissioner Rod Stowe says his agency is investigating irregularities in the trust accounts operated by CBD Commercial Pty Ltd, trading as LJ Hooker Surry Hills.
The estimate was confirmed to Property Observer, <a href="https://www.propertyobserver.com.au/industry-news/office-of-fair-trading-investigating-lj-hooker-surry-hills-over-trust-account-deficiency-allegations/2011110752232" target="_blank">which published details on the matter on Monday</a>.
Fair Trading appointed an independent manager who went in to operate the agency on Friday, November 4.
The agency operates out of 437 Crown Street, Surry Hills, whose landlord claims he’s owed unpaid rent.
Stowe says any clients of the real estate agency – landlords or buyers and sellers – should contact the independent manager as matter of urgency.
“In particular, this applies to anyone who has purchased a property or entered into a lease using this agency.”
 
 
 
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Between $500,000 and $1 million unaccounted at LJ Hooker Surry Hills: NSW Fair Trading

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The Iowa farm that featured in the 1989 movie Field of Dreams has been sold, according to The New York Times.
Hundreds of thousands of fans have since come to the property to run the bases, walk in the cornfields and soak up the feel of the place, which the <a href="https://www.nytimes.com/2011/10/30/sports/baseball/field-of-dreams-setting-tourist-magnet-in-iowa-is-to-be-sold?pagewanted=all" target="_blank">NYT </a>notes looks much as it did in the film starring Kevin Costner. Costner stars as Iowa farmer Ray Kinsella, who hears the mysterious words "If you build it, he will come," and is compelled to build a baseball diamond in the middle of his cornfield.
<img src="/images/stories/fieldofdreams.jpg">
The farm property was listed in May 2010 for $5.4 million, with the vendors, the Lansing family, wanting to sell only to someone who would preserve the authenticity of the field, which has been free to visitors. After considering many offers and even inviting Costner to bid on the property, the Lansings after 105 years ownership have sold to Mike and Denise Stillman, who assembled a group called Go the Distance Baseball L.L.C., borrowing a line from the movie. The parties did not disclose the sale price. The new owners say they plan to develop the site as a baseball and softball complex, with multiple fields and an indoor training facility. The Stillmans plan to leave the field much as it was when Ray Liotta portrayed Shoeless Joe Jackson there.
<img src="/images/stories/fieldofdreamsposter.jpg">
The bleachers erected by Ray Kinsella, Costner’s character, will continue to stand near first base. The white house with the wraparound porch and the white picket fence will still overlook the field. It was all built by the movie studio in a few days for a film based on a fictional story about players from 70 years earlier. Farms prices near the 78-hectare farm near Dyersville Iowa have ranged, according to the Dubuque Telegraph Herald, for anywhere from $19,165 per hectare to as much as $85,604 per hectare for an improved property.
<img src="/images/stories/fieldofdreamssign.jpg">
The Des Moines Register reported recently the Realtors Land Institute estimated the average value of high-quality cropland in northeast Iowa at about $17,297 per hectare which would have put the value of the property as farmland at about $1.35 million. The asking price reflected its status as a tourist attraction. The Lansings sold souvenirs but never charged admission.
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If you list it: Iowa Field of Dreams property sold to baseball fans

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The Federal Court in Brisbane has imposed penalties against three Queensland construction companies for engaging in illegal price controlling conduct known in the construction industry as cover pricing.
The conduct related to tenders for three state government construction projects in Queensland and one local government project. The projects were Rockhampton Airport, the Jilalan Inspection Shed, the Callemondah project, and the West Pacific Pines Project.
Justice John Logan imposed penalties against each company to be paid in instalments over 24 months – JM Kelly (Project Builders) Pty Ltd – $600,000; TF Woollam and Son Pty Ltd – $450,000; and Carmichael Builders Pty Ltd – $250,000.
“The conduct here is aptly described as price-controlling behaviour,” Logan noted.
“It is a form of collusive tendering and an unlawful civil conspiracy.”
Cover pricing involves discussions between two potential suppliers (in this case builders) in a tender process.
Company A does not want to win the contract for reasons identified above and so asks company B (which intends to make a genuine tender) to provide them with a “cover price”.
Both companies understand that this “cover price” will be higher than company B’s tender price.
Once the cover price has been received from company B, company A (should it choose to tender) then submits its tender to the client at a price, which is at or above the cover price. This gives the client the impression that both companies are tendering competitively, but the exchange of the cover price actually ensures that company A's tender price is higher than that of company B and therefore makes it unlikely that company A will be the successful tenderer.
This type of conduct sends to those in, materially, the state government or a local government sectors false signals about price or about a range of prices for a particular building works.
“It creates an illusion both as to range of prices and as to the existence of a particular level of competition," the judge said.
"In the particular context in which the conduct occurred in relation to the state government projects, the conduct also involved a betrayal of trust,” Logan found.
ACCC chairman Rod Sims says the decision shows that cover pricing is illegal and building companies that continue with the practice can expect the ACCC to ensure that the law was enforced.
“The penalties imposed here should be a wake-up call for the construction industry that cover pricing is not a legitimate business strategy,” Sims says.
It was alleged by the ACCC to have been used in situations where a construction company might not have the time, resources or inclination to prepare an accurate tender, but still wanted to be seen as tendering for that project.
The penalties follow earlier findings made by the court in August 2011 that between 2004 and 2007, TF Woollam and Son Pty Ltd, JM Kelly (Project Builders) Pty Ltd and Carmichael Builders Pty Ltd engaged in “cover pricing” in relation to the tenders for four government construction projects.
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Three Queensland construction companies nailed for illegal collusion

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{yoogallery src=[images/stories/november9kiloren]}
Kiloren, the six-hectare Crookwell property with a mostly intact Edna Walling garden, has been listed for sale. It has been in the care of gardening author Jennie Churchill and her husband, vet Rob Churchill, for almost three decades. It was installed by Walling in 1951 around the three-bedroom, three-bathroom house designed by architect John Mansfield for the Broadbent family. Its classic Walling features include basalt walls and pathways softened by relaxed planting.
Walling described it as one of her less formal designs. She believed that landscape architects should be involved from the earliest stage of the project. She worked around the house under construction on a bare hillside with just one tree. Bringing plants from her own nursery at Bickleigh Vale, near Melbourne, Walling was familiar with the climate and the district given her Markdale, Binda commission for the Ashton family in the late 1940s.
Following its 1982 purchase, Kiloren became the impetus for Jennie's gardening career, including co-authoring two books on Walling.
Offers of about $1.5 million are being sought by Tronn Alstergren of Tronn Alstergren Real Estate Goulburn or at $1.25 million without the cottage that sits on the border of the grounds.
“The top of the property overlooks the township of Crookwell to the hills and slopes of the Southern Tablelands beyond, while the lovely home nestles into the hillside, sheltered and hidden by its magnificent garden,” Alstergren says.
“A visit to Kiloren is essential to appreciate the property's extraordinarily peaceful and private atmosphere, the feeling that you have entered a different, gentler world,” he adds.
The Churchills plan to spend spare time in Tasmania. Churchill published the 1998 book The Vision of Edna Walling: Garden Plans 1920-1951 with Trisha Dixon.
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Southern Tablelands property with Edna Walling garden 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.

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Located on Schofi​elds Road, just moments from Tal​lawong Metro Station and Schof​ields Train Station, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been designed to appeal to a broad mix of buyers, from first-home purchasers looking for a foothold in Sy​dney's property market to downsizers seeking a connected, low-maintenance lifestyle.

<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been conceived as a thoughtfully planned masterplanned community that will evolve over multiple stages, with buyers now able to secure one, two and three-bedroom apartments within a neighbourhood that is already beginning to establish its identity.

One of the project's defining features is its focus on sustainability. Solar energy systems, battery storage and future EV charging infrastructure have been incorporated throughout the development, reflecting a long-term approach to both environmental performance and everyday convenience.

Sustainability sits at the centre of the development's vision, with solar energy systems, battery storage and future EV charging infrastructure integrated throughout the community.

That emphasis on future-ready living extends beyond the technology. Landscaped communal gardens, outdoor gathering spaces and plans for a future retail precinct aim to create a neighbourhood where residents can access daily conveniences without travelling far from home.

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The apartments themselves have been designed with liveability front of mind. Rather than chasing maximum density, the focus has been placed on creating practical homes with generous natural light, usable layouts and strong connections to outdoor space.

Importantly, these design principles have been applied consistently across the one, two and three-bedroom apartment offerings.

The appeal of <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> is also closely linked to its location within Syd​ney's rapidly evolving north-west growth corridor. Over the past decade, major infrastructure investment has transformed the area, with new transport links, business precincts and community facilities reshaping suburbs like Talla​wong and Schofiel​ds.

The agent says buyers are increasingly recognising the area's long-term potential.

"Typical buyers that we're finding across <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> especially are your first-home buyers, your investors, your upsizers as well as your downsizers," Hawes says.

Connectivity remains one of the project's strongest drawcards. Residents have access to both Tallaw​ong Metro Station and Schofi​elds Train Station, providing links to the Sydn​ey CBD, Norw​est Business Park, Macquari​e Park and other major employment hubs. Retail centres including Rous​e Hill Town Centre and Sch​ofields Village are also nearby, alongside schools, parks and future healthcare infrastructure.

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For Stage 1 resident Roji, it is the balance between convenience and comfort that has defined the experience of living at Kew.

"For me, it's a balance of quality and convenience," she says. "Everything I need is right here."

"If I wanted to catch the train, Scho​fields Station is just around the corner. Tallaw​ong Metro connects me to the city."

More importantly, she says, the development has delivered something that cannot be measured in floorplans or specifications.

"<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> feels like home."

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As Stage 2 enters the market, that lived experience may be one of the project's strongest selling points. Buyers are not purchasing into an untested concept or a future promise. They are joining a community that is already taking shape.

Ongoing investment in transport, retail, healthcare and public open space continues to strengthen the appeal of Syd​ney's north-west growth corridor, while <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>'s established first stage provides buyers with a tangible sense of the community's future direction.

For a limited time, buyer can secure a new home at <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> with just a $10,000.

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Kew Tallawong: A growing community taking shape in Sydney's north-west

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

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

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and <a href="https://www.apartments.com.au/developers/perifa">PERIFA</a> have celebrated the topping out of <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf,</a> marking a significant milestone in the delivery of one of Syd​ney's most anticipated waterfront communities.

Located on Sydney's harbourfront at <a href="https://www.apartments.com.au/developments/putney-nsw-2112">Putney</a>, the project has now reached its highest structural point, with construction progressing strongly towards completion in 2027. 
&nbsp; 
The milestone was celebrated on-site with project partners Phoenix Property Investors, Mitsubishi Estate Asia, Versatile Construction, <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, consultants and stakeholders, to recognise the collective effort behind the transformation of the historic waterfront site into a vibrant new residential, marina and lifestyle destination.

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&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.

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&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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