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Former Westpoint chief financial officer Graeme Rundle has received a suspended 18-month imprisonment sentence in the Parramatta District Court today after being found guilty of two criminal offences of making a false or misleading statement.
Found guilty of obtaining a financial advantage for Scots Church Development Limited by a jury on June 24, 2011,  Rundle’s offences involved contraventions of section 178BB of the NSW Crimes Act.
The charges related to statements made to a financial institution in relation to obtaining a $71 million construction finance facility to complete a project at York Street, Sydney. Following the announcement of the suspended sentence ASIC chairman Greg Medcraft notes chief financial officers, as officers of a corporation, must take their responsibilities seriously, and discharge their legal duties to the company and to comply with the law carefully. “Chief financial officers must ensure that any representations made by them to financiers on behalf of companies are accurate,”  Medcraft says. Medcraft suggests the case highlights ASIC’s willingness to address corporate misconduct.
“To date ASIC has pursued a wide range of actions and remedies concerning Westpoint against gatekeepers such as financial advisers, auditors, trustees and directors,” Medcraft adds
Rundle was sentenced to 18 months imprisonment on each count (to be served concurrently), with the sentence to be suspended contingent upon him entering into an 18-month good behaviour bond. The Commonwealth Director of Public Prosecutions prosecuted the matter.
When the Westpoint Group collapsed in early 2006, investors in Westpoint-issued financial products had an outstanding total capital invested of approximately $388 million. The estimated losses to investors totalled approximately $310 million. ASIC commenced compensation actions in 2007 and 2008.
In February 2011 ASIC announced it had reached agreements to settle the compensation actions it has conducted on behalf of the Westpoint Group of companies against certain directors of the companies and KPMG.
In addition to its compensation actions, ASIC has banned 23 licensed advisers, four unlicensed advisers and one corporate entity in relation to advice concerning Westpoint-related products for periods between three years and permanently. ASIC has also accepted enforceable undertakings from three KPMG partners, preventing them from practising as auditors for periods between nine months and two years.</body></html>

jchancellor-FAypfDUnLy

Westpoint CFO gets suspended 18-month sentence

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<img src="/images/stories/newtown.jpg">
<img style="float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">The brains behind The Block 2011 triumph, television series producer Julian Cress and his publicist partner, Sarah Armstrong, are on the move themselves just weeks before they dive back into The Block 2012. Their Newtown abode (pictured above) has been listed with $1 million-plus hopes. The two-bedroom, two-bathroom Church Street property comes with contemporary living space. The three-level Torrens titled residence is within strolling distance to village cafés, Newtown dining, Camperdown Park and public transport options. It comes with lock-up garage. Charles Bailey at Ray White Inner West has it listed for October 8 auction.
<img src="/images/stories/yorkroad.jpg">
<img style="float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">Without a doubt, Merlyn (pictured above), the beautifully restored Victorian Italianate mansion, is the standout home on York Road, Queens Park. The 1880s landmark family home that faces the vast leafy acreage of Sydney's Centennial Park recently fetched $3.6 million. It has been creatively transformed for modern family living while maintaining its soaring pressed metal ceilings, polished timber floors, and six marble fireplaces. It comes with rooftop observatory. It had been listed for auction through Laing &amp; Simmons Double Bay agent Andrew Hennessy by the Aroney family. It last traded in 2001 at $2.15 million, when the adman Geoff Dixon sold through agents Di Grundy and Michael Dunn. It had previously been traded for $900,000 in 1995.
<img src="/images/stories/mcmanusflicker.jpg">
<img style="float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">Event promoter Andrew McManus is still holding out for $13 million for his Toorak mansion (pictured above), which didn’t sell at its August 11 auction. The house last sold in 2008 mid-construction for $8.75 million now has six bedrooms and six bathrooms, plus a 12-car garage. There’s also a study, gym, home theatre, billiards room and cabana and pool on its 1,389-square-metre block. Its rear yard was unmowed at the end of its auction campaign, which attendees put down to it being a revival of the '80s trend of mondo grass. Bennison Mackinnon Armadale's Nathan Waterson is marketing the Myoora Road property in conjunction with Marshall White.
McManus has blamed the Taxation Office for the collapse of one of his touring companies, which went into liquidation last month owing more than $4.2 million. Corporate records show the ATO is owed more than $1.1 million by Andrew McManus Presents (International), making it the company's biggest creditor. ''They just keep sending massive bills and it's cheaper for me to do it this way than try and fight them in court,'' McManus told The Age this week. McManus said coming tours by artists including Stevie Nicks, Mötley Crüe and Joan Collins would not be affected as they were promoted by a different company, McManus Entertainment.
<img src="/images/stories/stpeters.jpg">
<img style="float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">Nick Foskett , the founder of the venture capital firm SA Angels, and his wife, Cate, have $3.5 million hopes for their home in Adelaide’s inner north. The St Peters property (pictured above), with parkland views, was designed by architect Max Pritchard. The four-bedroom, three-bathroom house has been listed through Klemich Real Estate agents Judy Morris and Penny Riggs. It comes with nine-seat (raked) home theatre. Offers close September 28.
<img src="/images/stories/castlecove.jpg">
<img style="float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">Title Tattle aims to tell you as soon as we know – often before it happens –so the word from Castle Cove on Sydney’s Middle Harbour is that one of its finest homes (pictured above) has been sold for more than $6 million. The Neerim Road property was sold to a mainland Chinese buyer on behalf of its Hong Kong-based expatriate owner. It sold through Adam Ross and Shayne Harris of Savills Residential, in conjunction with Raine &amp; Horne World Square, for $6.006 million. The landmark Castle Cove mansion was built in the late 1990s and last sold in 2003 for $4.55 million. Positioned on 2549 square metres of elevated ridgetop land, the five-bedroom home comes with a marble-clad foyer with domed skylight. It had been marketed with $8 million hopes through Leonarder Collins Luxury Homes earlier this year. It had also been available for rent at $4000 a week.
<img style="float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">And don’t say Title Tattle told you, but John Schaeffer, the well-known Sydney art collector and former cleaning contractor company founder, has taken an option on a neighbouring Point Piper penthouse. He paid $4.03 million in August 2009 for his half of the top of the residential tower. Apparently he wants to consolidate it with his own apartment and create a space that does justice to his art collection. Schaeffer has taken a call option over the long-held Pozniak family owned apartment after recently paying a $10 call option fee. His current holding is 224 square metres, and if the sale proceeds it will add another 217 square metres.
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Chip off The Block as producer lists own home: Title Tattle

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{yoogallery src=[images/stories/september9glynt]}
Demetri’s Castle, also known as the historic gothic Mount Martha mansion Glynt Manor, has been relisted with revised hopes.
It was initially listed by hair and make-up artists Demetri and Lila Sideropoulos, who wanted $6.5 million for the nine-bedroom, eight-bathroom mansion on its 2010 listing.
The Greek couple, whose celebrity clients have included Matt Damon, Russell Crowe, Bert Newton and the Pussycat Dolls , bought the 1914 house in 2009 for a reported $4.3 million and then thoroughly renovated it into a family home and bed and breakfast on the SBS documentary Demetri’s Castle.
It sits on about 8000 square metres, with views of Port Phillip Bay and the Melbourne lights in the distance. It was designed by Harold Desbrowe Annear as a single-storey farmhouse for the Henty family, descendants of Victoria's first European settlers.
It bears a similarity to another of his designs, Delgany at Portsea. Its later owners included the Buxton family.
Last year the Sideropouloses indicated they were selling so they could pursue opportunities overseas, saying they didn't get attached to things. Geoff Smith from LJ Hooker Frankston has the auction scheduled for October 8.
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Demetri's Castle - star of SBS series - to go under the hammer

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Intrigue surrounds the dispute between billionaire iron-ore tycoon Gina Rinehart and her daughter Hope Rinehart Welker, who is suing Rinehart in the NSW Supreme Court.
Perhaps it is an intellectual property dispute, as suggested by the Australian Financial Review, but it potentially could spill over into real property, given their business and private lives are so entwined.
Rinehart Welker, who turned 26 last month, has never had any public spotlight. Her only company directorship is of 150 Investments Pty Ltd, the family entity that owns the Sydney home of Hope and her husband, Ryan Welker.
The $5.4 million contemporary non-waterfront residence in Mosman was bought in August 2007 through LJ Hooker agent Geoff Smith. Hope Welker became a co-director of the company in September 2007.
Rinehart Welker, who has played a low-profile role in the Rinehart family business, Hancock Prospecting, lives with her 29-year-old American-born, London-educated husband, who was appointed last December as non-executive director to the board of Mineral Resources, in which Hancock Prospecting has a small stake.
Previously Welker had a stint with Hancock Prospecting between April 2008 and July 2009 working on the commercial development of Alpha coal project in the Galilee Basin, Roy Hill iron ore project in the Pilbara, Western Australia and the Nicholas Downs manganese project in the Pilbara, Western Australia.
Rinehart is a director of 150 Investment with her daughters, Hope and Bianca, according to recent reports.
It was only eight years ago that Rinehart also fell out with her son, John, who changed his name by deed poll to John Hancock. John forced to vacate the family-owned apartment in Perth when  his mother put it on the market in 2003. He took legal action in an attempt to claim a share of the Hancock family trust, describing in a court affidavit his mother as "a very powerful and controlling person". John has since returned to the fold.
Justice Paul Brereton <a target="_blank" href="https://www.smartcompany.com.au/advertising-and-marketing/20110907-gina-rinehart-s-daughter-launches-legal-claim-against-iron-ore-billionaire" title="Gina Rinehart sued">stood the Rinehart Welker matter over</a> to the same court on September 21 and adjourned to the registrar's list on September 14 a "notice to produce".
Alan Sullivan, QC, the barrister for Rinehart, told the judge that "in due course, if this case does proceed" he would apply for suppression orders.
Sullivan asked that third-party access to the court file be restricted until September 21. The judge noted that, to date, there had been a summons, an affidavit and an order of the court.
Sullivan said the reasons for the application involved "the impact on commercial negotiations". Brereton agreed to hear argument today on restricting third-party access, which would include the media.
Rinehart’s total fortune to $10.3 billion, according to BRW’s valuation in May.
Her Dalkieth family’s<a target="_blank" href="https://www.propertyobserver.com.au/residential/title-tattle-australian-columnist-janet-albrechtsen-downsizes-to-%245-million-bronte-semi/2011072250883" title="Gina Rinehart buys neighbouring property"> most recent purchase was a neighbouring $7.85 million property</a>, which was bought in June through 156 Investments Pty Ltd.
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Mosman home potentially caught in Gina Rinehart dispute

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Nigerian scammers have homed in on Sydney’s coastal eastern suburbs in their latest attempt to sell property they don’t own.

Successfully done twice in Perth, the latest attempt to sell a $1 million apartment has been thwarted before its scheduled auction.

The apartment was listed without the knowledge of the landlord, its South African-dormiciled investor, who has since complained to the fraud police.

The property with beach views was taken down from property websites earlier this week before its upcoming September auction.

The listing agent was not aware that the sale instructions were bogus. The apartment had been rented through the same office, most recently at $550 a week.

The first deceit was an email to the leasing office advising that a recent fire had destroyed all the documents associated with the property, its ownership and rental. 

After the estate agency supplied some replacement paperwork, they received instructions to list the property for sale. Contracts were drawn up by Double Bay solicitors and given there was no mortgage the negotiation didn’t require any official approaches to any financial institutions. 

After ads to sell the apartment appeared recently online and in print, an eastern suburbs agent, Brad Caldwell-Eyles, who had initially sold the two-bedroom apartment in 2004 for about $675,000 to the South Africa-based investor emailed the expatriate family, wishing them the best for the listing.

The shocked owner had no knowledge of its listing. The hoodwinked listing agent has assisted the police. 

A check of email has revealed the originating scamming emails from the African continent.  

The Sydney scenario closely followed <a href="https://www.propertyobserver.com.au/western-australia/absentee-investor-alert-nigerian-scammers-sell-%24410000-house-they-didnt-own/2011081751195" title="Nigerian scammers sell house they didn't own" target="_blank">two Nigerian scams in Perth </a>where sales had been achieved with the absentee owner unaware of the listing and sale of their investment property.

It highlights the necessity of absentee investors with unencumbered titles to be vigilant.

Both the Nigerian scams in Perth processed to sale with the absentee owners unaware of the listing and sale of their investment property.
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Nigerian property scammers move to Sydney after succeeding in Perth

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After 36 bids from six interested parties, a heritage Sydney office building with a ground-floor bar sold under receivers’ instructions at auction today.
The five-level Kent Street building was knocked down in packed rooms for $3.95 million by auctioneer Damien Cooley from Cooley Auctions.
It last sold at $3.45 million in 2007 when bought by a subsidiary of Keith Johnson’s company Johnson Property Investment.
The building is part of the 1888 Merchant and Partners warehouse building, which has stucco detailing designed in the Victorian Free Classical style.
The largest residential land developer in NSW went into administration in April with the creditors owed about $150 million.
The secured creditors are owed $132 million including the Seventh Day Adventist Church ($69 million), St George Bank ($32 million), Greshams ($13 million) and National Australia Bank ($4.7 million).
The unsecured creditors owed about $16 million.
Slow development approvals from government and falling land values after the global financial crisis were cited as reasons for the company's position.
The company retains its holdings of 8,000 lots in NSW, which had an estimated worth $197 million at its peak, but their value plummeted to $67 million after the global financial crisis.
Johnson Property Group assets in the Hunter include 2,500 lots at Cooranbong, 2,000 lots at Bellbird, Cessnock, Trinity Point marina, and residential and tourist sites at Morisset Park.
In March Johnson confirmed he had been a victim of a sophisticated international scam.
The Kent Street building has a net lettable area of 493 square metres.
Newly opened small bar Since I Left You occupies the ground floor tenancy of 38 square metres on a five-year lease.
It was listed by receivers and managers Taylor Woodings through CB Richard Ellis agents Tim Grosmann and Rohan Ramsay.
Tim Grosmann says rarely had such small quality freehold become available within the CBD.
“Since the City of Sydney’s introduction of the Liquor Amendment (Small Bars and Restaurants) Bill 2007 the CBD’s laneways have been revitalised, with small bars such as Since I Left You well positioned to capitalise on previously unusable space,” Grosman adds.
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Keith Johnson receivers sell skinny sought-after Sydney heritage building

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<img src="/images/stories/darlingpoint1.jpg">
More than $20 million is being sought for a prime Darling Point harbourfront home. The modern house with dramatic wet-edge pool is set at the end of the Eastbourne Road cul-de-sac on a 979-square-metre block.
The house comes with 700 square metres of living and entertaining areas with internal lift access to all three levels.
It has five bedrooms with terraces and six bathrooms, including a luxurious master wing with a marble ensuite with a bath and a custom-designed dressing room.
Complete with a bar area and gas fire, the formal entertaining space opens to a covered wraparound terrace for alfresco entertaining.
<img src="/images/stories/darlingpoint2.jpg">
The house comes with a sauna, library area and home theatre, which makes the perfect children’s retreat. Bill Malouf and Emma Prgomelja at L.J. Hooker Double Bay have the listing.
<a target="_blank" title="Title Tattle" href="https://www.propertyobserver.com.au/new-south-wales/title-tattle-sir-william-tyree-lists-%2440-million-mansion-in-darling-point/2011081951229">Darling Point’s other significant listing is on the Lindsay Avenue cul-de sac with $40 million plus hopes.</a> Some local press reports suggested the Lindsay Avenue listing ought fetched even more than $50 million.
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Prime Darling Point home on the market for $20 million plus

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China’s property and construction barons took top spots on the latest China Rich List survey, but now face the issue of sustaining their wealth given the Chinese government’s recent concerted efforts to cool the economy by clamping down on real estate speculation and cutting back on massive infrastructure projects.
Four of the richest 10 were property developers, up from two last year, and 29 of the top 50 had considerable property businesses.
“China’s relentless construction boom, coupled with a growing domestic retail market, have been the key drivers for the growth in wealth,” Rupert Hoogewerf, Hurun’s chairman and chief researcher, notes.
The report says China can claim at least 271 billionaires in U.S. dollar terms, up from 189 last year, but “you can double the real number of billionaires in China to nearer 600,” he says.
It’s the 13th annual ranking of the richest individuals in China, since Hurun Report founded the China Rich List in 1999. A full list of the 1000 richest individuals will be released next month.
The highest ranking known link to Australia in the top 1,000 entrants is billionaire property and media tycoon Chau Chak Wing, who has been a generous <a target="_blank" title="Chau Chak Wing" href="https://www.propertyobserver.com.au/https://www.thepowerindex.com.au/and-the-winner-is/meet-chau-chak-wing-australias-most-prolific-political-donor/20110829337">political supporter of Treasurer Wayne Swan and Foreign Minister Kevin Rudd</a> in recent years. His position in the top 1,000 will be known next month.
Chau, who reportedly lives mainly in China but who gives his address as East Kowloon, Hong Kong, is an Australian citizen whose wife and children have lived largely in Hunters Hill in Sydney. The Hunters Hill house cost $3 million in 1995 in the Pulpit Point development.
His fortune estimated by Hurun at $1.5 billion in the 2010 list was made developing real estate in Guangzhou. He also owns a major Guangzhou newspaper, the New Express Daily, as well as an Australian offshoot.
Despite the continuing global financial crisis, the cut-off to make the Huran top 50 issued yesterday was US$2.7 billion, and the  Hurun 1,000 cut-off shot up to US$310 million.
<img src="/images/stories/chinasept81.gif">
The average wealth on the list hit US$924 million.
Beijing is the home to 111 on the top 1,000 list, followed by Shenzhen and Shanghai.
The rich are also well connected politically, as some 30% of the Hurun Top 50 are delegates to the National Party Council or CPPCC.
Up four places to top spot was Liang Wengen, chairman of heavy equipment manufacturer Sany Group, according to report by the Huran Report, a luxury publishing and events firm.  It valued Liang’s fortune at $11 billion, based in significant part on the appreciation of shares of the parent company’s Sany Heavy Industry Co., which is listed in Shanghai.
Liang succeeded the former No. 1, Hangzhou Wahaha Group Co. Chairman Zong Qinghou, whose $10.7 billion beverage-industry fortune put him at No. 2.
The Robin Li, founder of Internet search provider Baidu Inc., rose two spots to finish third, the report says.
Robin Li Yanhong at 43 years is the youngest of the Hurun Top 10, up to third this year with net worth of US$8.8 billion after Google’s withdrawal from the Chinese market last year has allowed Baidu to build on its leadership in the Chinese-language internet search services.
 <img src="/images/stories/chinasept82.gif">
Wu Yajun,47, takes over the mantle of the richest woman from Zhang Yin, the Paper Queen, and is also now the richest self-made woman in the world.
“China’s rich have defied the global financial crisis with another record year of growth,” Rupert Hoogewerf concludes.
Chau’s Kingold Real Estate company website says it has been part of the soaring growth of China's economy in the past 20 years given the great market demands for real estate in China.
“In order to satisfy market demands, the Kingold Real Estate Division has created one legend after another by building high-end hotels, office and residential buildings.
“When China’s real estate market was stagnant in 1989, Guangdong Foreign Businessmen Club/Hotel, invested by the Kingold Real Estate Division, became the first hotel of its kind to offer high-class services to the foreign businessmen in China.
“Despite the real estate market slump in 1995, Dr. Chau Chak Wing invested RMB1.6 billion yuan to build a large residential estate --- Huiqiao New City with a gross floor area of 1,200,000 square meters, which greatly helped Guangzhou Municipal Government to implement the policies caring for overseas Chinese.
“This residential estate had set several records in the highest sales volume and the highest number of residents actually living in the estate for three consecutive years from 1996 to 1998, becoming the largest overseas Chinese residential area in Guangdong and widely believed to be the first largest upscale precinct in Guangzhou to house more than 100,000 residents to date.
“ The Kingold Real Estate Division never falters in its progress with forward-looking vision focused on the Wushan universities precinct in Guangzhou.
“In 1999, the Kingold Real Estate Division impacted on the real estate industry in China when it unprecedentedly budgeted over RMB 10 million yuan to invite international bidding for the Planning and Design of the Favorview Palace Estate covering a land area of over one million square meters.
“Since entering the market, the Favorview Palace Estate has once recorded an annual sales volume of RMB 2.0 billion yuan, the best sales performance among all the deluxe residential estates in Guangzhou.
“The Favorview Palace Estate was the only high-end residential estate in Guangzhou to be honored China’s Top 10 Deluxe Residential Estates” for 2004 and subsequently for 2005 and 2006,” the website says.
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China's property bubble billionaires getting richer but face government cooling efforts

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Gerry Harvey, the executive chairman of the Harvey Norman retail chain, has questioned the sustainability of existing retail lease structures with inbuilt annual rent increases of 4% to 5% plus regular market reviews.
Rents currently could take 15% to 20%, and in some instances 30% to 40%, of retailers' turnover, he has suggested.
Harvey says shopping centres that charged the highest rents faced the most risk of having to take cuts.
Bulky goods centres, by comparison, which rent space at about $200 a square metre are better placed, Havey says.
"You are going to see retailers closing down more than you see them opening up…  And that is going to have a big influence on rents and the valuation of shopping centres," Harvey says.
The fundamental problem was that Australia had too much retail space which would suggest not many more new shopping centres would be built.
"We have come to a halt,” he told The Australian property reporter Florence Chong.
“It is very difficult to justify the cost of building today because of the high cost of land and construction."
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Gerry Harvey says current retail rent structure unsustainable

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Some 20 buyers are reputedly thinking of expressing interest in Mirvac’s $450 million prestige hotel offering.
The interested parties reportedly include LaSalle Investment Management, US giant Blackstone, and Australian property manager Toga.
The French-based hotel chain Accor, the US-based Marriott Hotels and Resorts, and Singapore's Grand Chancellor, owner of Hotel Grand Central, have also been suggested as among the touted parties.
It has also been reported that LaSalle is considering buying Brisbane’s Chifley at Lennons hotel for about $57 million, according to the Australian Financial Review.
The Australian revealed in June that Mirvac Group had appointed Lazard to review its hotel arm.
Mirvac's hotel offering includes its 49% stake in the Mirvac Wholesale Hotel Trust, which owns seven four- to five-star properties in Sydney, Brisbane and Melbourne.
The group would also offload the Sebel hotels in Newcastle in NSW and Mandurah in Western Australia.
But Mirvac intends to retain The Como Hotel in Melbourne as a redevelopment site.
The offering also includes the 49% stake in Mirvac's Tucker Box Hotel Group, made up of 13 Travelodge hotels.
The Sydney Morning Herald has reported Mirvac is thought to be considering management deals to ensure Mirvac retains an interest in the 46 assets, which include Sea Temple, Quay West Suites, Sebel and Citigate.
Mirvac holds the management rights for almost 6,000 hotel rooms in 41 Australian hotels and three in New Zealand.
The other pricey hotel listing is Thakral Holding's intended sale of its $250 million Wynyard complex, which includes the 446-room Menzies Hotel, along with an office building, car park and retail concourse at Wynyard station.
Craig Collins, of Jones Lang LaSalle Hotels, says Sydney has maintained its position as Australia's top hotel trading market.
Its status was underpinned by consistent occupancy levels above 85% and solid revenue per available room (RevPAR) growth.
The year to date RevPAR had surpassed the 2008 peak with Sydney's accommodation market returning to the strong growth before the financial crisis.
Craig Collins says average daily rate growth has risen to 7.1% over the seven months to July 2011 to $203.68.
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Strong local and international interest in Mirvac's hotel offerings

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

Joel Robinson

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

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

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

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

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

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

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

Jonathan Chancellor

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