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Sunland’s flagship Palazzo Versace hotel has received considerable offshore buying interest since its marketing began in April this year.
A Chinese group is in due diligence considering its acquisition of the luxury Gold Coast hotel.
<img src="/images/stories/palazzov.jpg">
The market is tipping $60 million plus for the Palazzo Versace hotel, which was the world’s first fashion house-branded hotel when launched in 2000.
<img src="/images/stories/2012/08/palazzoversace.jpg">
It recently underwent a multimillion-dollar revitalisation in the last 18 months, and has three restaurants, a marina, 200 rooms, a ballroom, shops and other facilities.
Managing director Sahba Abedian confirmed Sunland was in talks with a single party hoping to establish a presence in the Australian market.
<img src="/images/stories/2012/08/palazzo1.jpg">
<a target="_blank" href="https://www.propertyobserver.com.au/leisure/sunland-lists-gold-coasts-palazzo-versace-after-company-profits-slump/2012042354413">Property Observer</a> reported on the listing back in April this year, when the hotel was first expected to notch close $80 million, after a sales campaign was commenced by McVay Real Estate.
<img src="/images/stories/2012/08/palazzo2.jpg">
According to Jones Lang Laselle hotel data, about $1.1 billion worth of hotels and resorts in Australia have been traded in in the past year, with Asian buyers accounting for more than 90%.
Asian buyers are showing a keen interest in hotels and resorts Down Under due to the economic turbulence in Europe and poor real estate performances elsewhere in the world.
<img src="/images/stories/2012/08/palazzo3.jpg">
In the past year, <a target="_blank" href="https://www.propertyobserver.com.au/leisure/sydney-shangri-la-hotel-sells-to-hong-kong-shangri-la-asia-group-for-record-%24352-million/2012062555249">Hong Kong group Shangri-La Asia bought Sydney’s Shangri-La hotel </a>and Brisbane’s Holiday Inn. <a target="_blank" href="https://www.propertyobserver.com.au/leisure/malaysian-reit-pays-%24415-million-for-marriott-five-star-hotel-portfolio/2012061455118">Malaysian group Starhill paid $415 million for Colonial First State’s Marriot hotel portfolio</a>, which consists of three five-star hotels across Sydney, Brisbane and Melbourne.
The Palazzo Versace has been listed by property developer Sunland in order to reinvest in other projects.
The Australian Financial Review reported a sale might be finalised over the next two weeks.
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Chinese investors eyeing up Sunland's $60 million-plus Palazzo Versace on Gold Coast

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Australand is restoring the historic Chimney at Botanica, which originally provided light and power to the Lidcombe hospital through the boiler house. 
Cnthia Csernay, senior marketing coordinator for Australand, says the aims behind the restoration of the chimney were to bring the structure up to the current earthquake codes, as well as to make the building more visually attractive. 
The chimney dates back to 1901 and contained coal furnaces that fed into a generator to produce enough electricity to provide lighting and power to the entire hospital, as well as hospital wards and residences. 
<img src="/images/stories/2012/08/chimney.jpg">
The Lidcombe hospital closed in 1993, and the boiler house and chimney have not been active since. 
The Lidcombe hospital changed its name over time as the focus of care changed and developed. It was originally known as the Lidcombe Old Men’s home, though during the 1919 influenza pandemic, women had been admitted to the infectious disease ward. 
After 1913 the hospital changed names to Rookwood State Hospital and Home For Men, and changed twice more until it closed as Lidcombe Hospital. 
The chimney that fed electricity and power to the hospital is now a historical landmark within Australand’s Botanica. 
“It will be a piece of history that all the community can be proud of, and we look forward to the completed restorations,” says Australand NSW residential division general manager Nigel Edgar. 
Edgar also says that the chimney at Botanica is a treasured feature of the residential community and plays a very important role in understanding the history of site. 
Botanica is part of a new neighbourhood, which is spread over 44 hectares and is 14 kilometres from the Sydney CBD. 
The former hospital buildings are now known as “The gallery at Botanica” and are a collection of heritage-listed building that have been adapted by Australand into modern homes. 
There are currently 31 homes on sale at Botanica, with a some 500 new homes sold. 
Its three-bedroom houses are available from $660,000 to $740,000, and the four-bedroom house ranges from $715,000 to $940,000.
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Chimney at Botanica set for hot new look

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With the spring selling season just a week away, home owners and hopeful vendors are sprucing up their gardens and outdoor spaces in the hopes of enticing buyers who want more than a roof above their heads. 
There is no doubt that Australians love their gardens, and a recent survey by independent research firm Kairos Future found 55% of Australians want to see more green space in their cities, and 65% of Aussies are willing to pay more for property with good green space nearby.
With this in mind and the whiff of spring in the air, Property Observer checks out 10 of the best gardens currently on the market across Australia.
<img src="/images/stories/2012/08/garden1.jpg">
This beautiful property <a target="_blank" href="https://www.realestateview.com.au/Real-Estate/12-lansell-road-toorak/Property-Details-buy-residential-4296033">is located on Lansell Road</a> in the pricey picturesque suburb of Toorak, Melbourne. It is set on 3,280 square metres, with inbuilt french doors to access the outdoor entertainment area. The front yard has a rustic birdbath and lemon trees. The backyard has a centered statue and pristine hedges leading to a wooden arch.
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<img src="/images/stories/2012/08/garden2.jpg">
Located in Brighton, Victoria, <a href="https://www.domain.com.au/Property/For-Sale/House/VIC/Brighton/?adid=2009522095" target="_blank">this property</a>, which has lingered on the market, is encircled with a Paul Bangay-designed garden. Many of the features in the 6,130-square-metre grounds can be controlled remotely from a central keypad, including the lights the blinds, the fountains and the gates.
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<img src="/images/stories/2012/08/garden31.jpg">
<a target="_blank" href="https://www.realestateview.com.au/Real-Estate/1-corona-street-balwyn-north/Property-Details-buy-residential-4221683">This serene sanctuary</a>, located in Melbourne’s eastern suburb of Balwyn North, plays host to a Japanese-inspired garden milieu (pictured above and below.) The exotic garden “wonderland” is secluded beyond a tranquil water-garden oasis. Set upon 1,100 square metres, this private garden includes a wide variety of plant species.
<img src="/images/stories/2012/08/garden3.jpg">
 
 
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<img src="/images/stories/2012/08/garden4.jpg">
Located in Matcham, New South Wales,<a target="_blank" href="https://www.realestate.com.au/property-house-nsw-matcham-111058195"> the “Woodstone”</a> is a calm retreat markedted as an idyllic existence. Situated on 24,300 square metres of environmental harmony and moss-green lawns, the structures and archways of the property are strewn with grape vines. Woodston plays host to an abundance of stone walls, a swimming pool, tennis court, piazzas and terraces. The property lake is stocked with fish, and is home to dozens of species of rare birds. Better yet, the calm retreat is boarded by a spectacular rainforest reserve.
 
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<img src="/images/stories/2012/08/garden5.jpg">
Nestled behind grand wrought-iron gates, this private setting features a glorious basket range of sandstone frontage and an entertainer’s pavilion. Nestled on a comfortable 1,755 square metres, the manicured rear garden plays host to a rustic fountain. <a target="_blank" href="https://www.realestateview.com.au/Real-Estate/44-sunnyside-road-glen-osmond/Property-Details-buy-residential-4263235">Located in Glen Osmond, South Australia</a>, this gem is a rarity in a small city.
 
<img src="/images/stories/2012/08/garden6.jpg">
This<a target="_blank" href="https://www.realestate.com.au/property-house-qld-bridgeman+downs-110520485"> Bridgeman Downs garden</a> is on 20,200 square metres of picturesque and manicured grounds, bordered by secure fences. At the rear of the property, the guest/workers’ area contains three dedicated stables with holding yards. The garden boasts freshness and tropical warmth, with an array of palm trees on the front lawn. The vibrant green shrubbery is evidence of the tropical climate all year round.
 
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<img src="/images/stories/2012/08/garden7.jpg">
Situated on 1,100 square metres, <a target="_blank" href="https://www.realestateview.com.au/Real-Estate/287i-kenmore-road-fig-tree-pocket/Property-Details-buy-residential-4071299">the property </a>boasts breathtaking views of the Brisbane River. Located in Fig Tree Pocket, Queensland, the garden is manicured and features a multitude of tropical plants.
 
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<img src="/images/stories/2012/08/garden8.jpg">
<a target="_blank" href="https://www.realestateview.com.au/Real-Estate/149-victoria-road-hawthorn-east/Property-Details-buy-residential-4272041">“Rathgar” boasts a landscaped garden</a>, which was among the first created by the multi-award-winning Jack Merlo. The grounds provide north-facing areas for entertaining, a solar-/gas-heated pool and spa and a flood-lit-north-south mod-grass tennis court. Two loud flowerpots adorn the entrance to the property, which is located on 1,650 square metres in the eastern suburb of Melbourne, Hawthorn East.
 
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<img src="/images/stories/2012/08/garden9.jpg">
For something a bit different, there’s a French- and Italian-inspired apartment <a target="_blank" href="https://www.realestateview.com.au/Real-Estate/3a-chatsworth-avenue-brighton/Property-Details-buy-residential-4274497">in Chatsword Avenue, Brighton</a> (pictured above and below). Wrought-iron gates open onto a long stone driveway lined with pear trees. This property is significantly smaller at 655 square metres, but this allows for a comfortable courtyard with Espalier pear trees and wisteria-draped pergola.
<img src="/images/stories/2012/08/garden11.jpg">
 
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<img src="/images/stories/2012/08/garden10.jpg">
<a target="_blank" href="https://www.realestateview.com.au/Real-Estate/14-aberfeldie-street-aberfeldie/Property-Details-buy-residential-3582091">Located in Aberfeldie, Victoria</a>, this English heritage home is enclosed with wrought-iron electric gates. The outdoor environment is a clear display of being designed by Australian landscaper Paul Bangay. Fitted with a fully automated garden watering system and a rain sensor, the landscape stays fresh and hydrated. The watering system is integrated with three underground water tanks of 30,000 litres. The backyard is an oasis in warmer months, with a large in-ground pool and with high hedges that offer optimum privacy.
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Blooming brilliant: 10 of Australia's best gardens on the market

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Arno Corporation has revealed ORBIS, a new luxury apartment to be built with a unique architectural expression.
Orbis is inspired by Indian-born British sculptor Anish Kapoor’s three-storey "sky dish" in New York City’s Rockefeller Center.
Inspiration is also drawn from surrealist painter Rene Magritte’s mysterious suspended orbs painting The Voice of Air.
Orbis is designed with an architectural technique associated with sculpture, which involves the selective removal of a mass to reveal a figure or image.
<img src="/images/stories/2012/08/orbis1.jpg">
The new apartment complex is the latest collaboration between Arno Corporation’s Andrew Cook and Anthony Heffernan, and ARM Architecture.
Arno Corporation’s Anthony Heffernan says ARM’s intriguing design for Orbis plays with perceptions of space and depth by scooping out selective masses from the distinctive façade, creating the illusion of enormous reflective orbs and dishes that cleverly invert and reshape their surrounds.
There are a total of 48 apartments, with one-bedroom-plus-study units comprising 40% of the complex and two-bedroom apartments taking up 60%.
<img src="/images/stories/2012/08/orbis2.jpg">
The apartments range from 55 square metres to 86 square metres, with terraces ranging from approximately eight square metres to 56 square metres.
A one-bedroom-plus-study unit starts at $495,000, two-bedroom apartments start at $590,000 and two-bedroom, two-bathroom units start at $650,000. Prices range up to $910,000.
All apartments have one undercover secure car space with storage. The northern penthouse apartments are the only exception with two car spaces and storage.
<img src="/images/stories/2012/08/orbis3.jpg">
More than 20% of Orbis’ 48 apartments sold before the building’s launch at the end of July, with no further update given at time of publication.
“The degree of luxury and organic design – inside and out – won’t be matched on the market for a very long time,” says Heffernan.
The inside of the apartments will consist of mosaic glass tiles, timber oak floors, Miele appliances, Fisher &amp; Paykel remote dishwasher, stone benches, track lighting light fitting, 100% wool loop tile carpet – with a choice of three colours – taps in aged bronze, brushed brass or chrome with a colour scheme choice of light or dark.
<img src="/images/stories/2012/08/orbis4.jpg">
ARM Architecture is led by Ian McDouhall, who has previously worked with the Hamer Hall redevelopment, the Melbourne recital Centre and Arno Corporation's Momentum, which will be Orbis's neighbour.
Arno Corporation is celebrating 25 years in the property industry this year and is regarded as one of Victoria’s foremost residential luxury property developers.
Other projects by Arno Corporations include the FACE development in Acland Street, St Kilda, and ISIS development in Domain Road, South Yarra.
The Orbis development display suite is located on the corner of Eastern Road and Palmerstone Crescent, South Melbourne.
The display suites are open on Saturday and Sunday from noon to 4pm and Monday to Thursday from noon to 2pm.
Orbis Development is scheduled for completion in 2014.
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Orbis to bring surrealist design to South Melbourne skyline 

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The most discounted property currently on the market in Australia is a four-bedroom livestock property in Caboolture, Queensland, with an initial asking price of $949,000. After sitting on the market for a whopping 783 days, the owners slashed the price down do $586,000, or a 38% reduction. The property comes with two stables and a day yard along with a barn equipped with a toilet and shower.
The vendors of a two-bedroom fifth-floor apartment in Port Adelaide, South Australia, havalso reduced their asking price by 38%. The property has been on the market for 755 days. The initial asking price was $725,000 and was reduced to $450,000 after no potential buyers were found. According to the property's marketing, the vendor bought the unit in October 2008 for $674,950 and is willing to make a $224,950 (or 33%) loss on it.
Head of SQM Research Louis Christopher accounts for the drastic price cuts through the unrealistic expectations of home owner’s asking prices.
“That stops them finding a buyer in the first few weeks, the crucial time to sell.”
“The seller is then faced with reducing their initial asking price, creating stigma around the property with potential buyers that there is something wrong with it,” says Christopher.
Christopher also explained that sellers who are not meeting the current stagnant real estate market are not only wasting their time, but also that of the agent’s and the money spent on advertising.
 
1 <a href="https://www.realestate.com.au/property-livestock-qld-caboolture-7262420" target="_blank">19 Lychee Drive, Caboolture, Queensland 4510</a> (pictured) Days on the market: 783 Initial asking price: $949,000 Current asking price: $586,000 Reduction: 38%
2
<a href="https://www.domain.com.au/Property/For-Sale/House/SA/Port-Adelaide/?adid=2008435199" target="_blank">502 Tarni Court, Port Adelaide, South Australia, 5015</a>
Days on the market: 755 Initial asking price: $725,000 Current asking price: $450,000 Reduction: 38%
3
<a href="https://www.realestate.com.au/property-house-qld-closeburn-107603313" target="_blank">34 Seraya Court, Closeburn, Queensland, 4520</a>
Days on the market: 336 Initial asking price: $1.45 million Current asking price $939,000 Reduction: 35%
4
<a href="https://www.realestate.com.au/property-house-wa-two+rocks-106211228" target="_blank">15 Gretel, Two Rocks, WA, 6037</a>
Days on the market: 938 Initial asking price: $1.1 million Current asking price: $699,000 Reduction: 36%
5
<a href="https://www.realestate.com.au/property-house-wa-armadale-105464925" target="_blank">Armadale, Western Australia</a>
Days on the market: 1207 Initial asking price: $1.85 million Current asking price: $1.2million Reduction: 35%
6
<a href="https://www.domain.com.au/Property/For-Sale/House/SA/Mawson-Lakes/?adid=2007634261" target="_blank">50 Isla Circuit, Mawson Lakes, SA, 5095</a>
Days on the market: 1161 Initial asking price: $1.5 million Current asking price: $990,000 Reduction: 34%
7
<a href="https://www.realestate.com.au/property-house-qld-aspley-106322479" target="_blank">1255 Gympie Road, Aspley, Queensland, 4034</a>
Days on the market: 875 Initial asking price: $510,000 Current asking price: $350,000 Reduction: 31%
8
<a href="https://www.domain.com.au/Property/For-Sale/House/WA/Mount-Lawley/?adid=2009312405" target="_blank">144 Joel Terrace, Mount Lawley, WA, 6050</a>
Days on the market: 273 Initial asking price: $2.69 million Current asking price: $1.85 million Reduction: 31%
9
<a href="https://www.realestate.com.au/property-house-wa-lancelin-105467644" target="_blank">93 Gingin Road, Lancelin, WA 6044</a>
Days on market: 1207 Initial asking price: $580,000 Current asking price: $399,000 Reduction: 31%
10
<a href="https://www.domain.com.au/Property/For-Sale/Penthouse/NSW/Bondi-Junction/?adid=2008805959" target="_blank"> 69/257 - 269 Oxford St Bondi Junction, NSW, 2022</a>
Days on the market: 518 Initial asking price: $2.5 million Current asking price: $1.8 million Reduction: 28%
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Queensland farm on the market for two years the country's most discounted property: SQM Research

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Lend Lease’s timber high-rise tower development Forté is just two floors shy of its final height in its 10th week of construction.
<img src="/images/stories/2012/08/forteaug172.jpg">
Although construction was on hold Friday with rainy Melbourne weather, the construction on the Docklands project is well and truly under way, with glimpses of work being started on the eighth floor.
<img src="/images/stories/2012/08/forteaug175.jpg">
 The rapid rise of this tower means it is now easily visible from Collins Street, with expected completion in October.
Australia’s first cross-laminated timber high-rise apartment block is set to be 10 storeys high, making it the tallest timber building in the world, overtaking the eight-storey apartment block Stadthaus, Murray Grove, in London.
<img src="/images/stories/2012/08/forteaug174.jpg">
 The $11 million timber tower will be comprised of approximately 760 panels, measuring up to 16.5 metres by three metres, shipped from Austria. The panels were specifically made for Australian conditions.
Daryl Patterson, head of operations at Lend Lease, says the quick construction of the tower is mainly due to its similarities to that of an Ikea flat-pack.
 The timber flooring of 145 millimetres and walls of 128 millimetres are stacked as a platform on top of each other and screwed together. This type of construction means the building can be erected 30% faster than more traditional building methods.
 
<img alt="fortesite3" src="/images/stories/2012/06/fortesite3.jpg" width="470" height="313">
Forté's progress as of June 8
 
<img alt="fortejune3" src="/images/stories/2012/06/fortejune3.jpg" width="470" height="313">
Forté's progress as of June 29
 
<img alt="_mg_5006" src="/images/stories/2012/07/july13forte/_mg_5006.jpg" width="470" height="313">
Forté's progress as of July 13
<img src="/images/stories/2012/08/forteaug173.jpg">
Forté's progress as of August 20 
{module Would you buy an apartment in a timber building?}
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Docklands timber tower Forté two months and two floors short of completion

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After three years of sitting on the property market, a Mosman waterfront residence sold this week for a street record price. 
Selling agent <a href="https://www.propertyobserver.com.au/https://www.rwm.com.au/135920">Richard Simeon from Richardson &amp; Wrench Mosman </a>would not reveal the sale price for the Shellbank Avenue house, but confirmed it fetched a street record price. 
The street record was  house two doors along - $11 million in 2005. 
The latest sale was by Shane Smyth, CEO of Cover More Insurance, who renovated after paying $9.2 million in 2007, and then listing it with $14 million plus hopes.
The residence comprises of 1,012 square metres, designed for grand -scale living and entertaining, with four huge living areas. 
The home also has three kitchens, two lifts, seven bedrooms and seven bathrooms and has a separate self-contained apartment. 
The outdoor facilities include a swimming pool with a swim-up bar, deep waterfront boating facilities such as a pontoon and a large mooring pen. 
The property sold to a Sydneysider after a race to the finish line with another potential buyer from China competing. 
<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/western-australian-buyer-pays-%24101-million-for-mosman-harbourfront/2012080755890">Another Shellbank Avenue waterfront property</a> sold last week for $10.1 million to a retired West Australian mining executive.
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After three years on market, Mosman house sets Shellbank Avenue price record

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Homes in Stoke, Staffordshire, could be sold for as little as £1 under a proposed UK scheme to reinvigorate crime-ridden areas. 
Terrace houses would be able to be purchased for the pint-sized price of £1 (A$1.48) and would come with a £30,000 low-interest loan to be used for renovations. 
The only catch is that the owner must renovate the house – typically a two- or three-bedroom property with a backyard – and live in it for five years before it could be sold. 
<img src="/images/stories/2012/08/stokeontent.jpg">
The £30 million scheme would be funded by Stoke-on-Trent Council and the United Kingdom government. 
Council tax <a target="_blank" href="https://www.stoke.gov.uk/ccm/content/housing/private-housing/empty-homes/empty-homes-statistics.en">data</a> from 2011 suggests 4,763 homes have been left empty in Stoke. 
Some of these homes are livable, while some desperately need refurbishment. 
The empty homes have attracted arson attacks, squatting, burglary, illegal waste dumping (known as fly tipping) and drug den usage. 
Some squatters cause damage to adjoining properties, and neglected properties can devalue neighbouring property values. 
“At the moment there is vandalism, people using the backyards of empty houses for fly-tipping and all kinds of problems… Something needs to be done,” local resident John Bannister told <a target="_blank" href="https://www.bbc.co.uk/news/uk-england-stoke-staffordshire-19160913">BBC News.</a> 
The ghost town is a result of a now defunct RENEW regeneration scheme. 
<img src="/images/stories/2012/08/stoke2.jpg">
RENEW North Staffordshire was founded in 2004 when the government recognised that the region needed support to improve poor housing. RENEW is the neighbourhood regeneration agency that works together with councils that fall under North Staffordshire. 
The scheme had spent more than £120 million buying up homes and business sites in the hope of transforming them into communities by refurbishing the crumbling homes or replacing them with modern housing. 
The controversial scheme ended in April last year after spending cuts implemented by the coalition government meant the renewal scheme was cut halfway through. 
Brian Hughes of Crane Street in Cobridge told online magazine <a target="_blank" href="https://www.thisisstaffordshire.co.uk/Housing-fund-gives-communities-hope/story-12490922-detail/story">This Is Staffordshire</a> that there were five homes out of 13 on his street that were boarded up and had become magnets for petty crime.
Another resident, Michael Bamford of Rutland Street, said ripping out of the house next door to his had affected how long it took to heat his home.
Some families had to leave their properties to make way for the regeneration project, which never materialised.
The £30 million scheme would focus on Stoke properties in the Portland street area, Cobridge and the Bond street area, Tunstall.
“If agreed by cabinet, the council will consult with local residents and empty property owners about the plans with a view to starting the scheme in 2013,” said Janine Bridges, councilor for Labour-led authority’s cabinet member for housing, neighbourhoods and community safety.
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UK homes could sell for £1 as council attempts to rehabilitate suburbs

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British fashion giant Topshop is set for a new store at Highpoint Shopping Centre in early 2013. 
The Highpoint location is the second Melbourne store for the iconic British brand, with its other Melbourne outlet on the <a href="https://www.propertyobserver.com.au/victoria/jam-factory-set-for-%2416-million-makeover-as-topshop-moves-in/2011081851210" target="_blank">Chapel Street strip in South Yarra. </a>
GPT Group announced the leasing deal in its half-year results presentation yesterday. 
“Topshop’s ability to deliver new, designer-inspired look to shelves within weeks of making their catwalk debut is something that will certainly strike a chord with our customers,” Matthew Faddy, head of asset management at GPT, says. 
The Topshop/Topman co-location store in South Yarra opened in December last year, and the brand’s first Sydney store<a href="https://www.propertyobserver.com.au/news/fashion-retailer-topshop-topman-to-open-in-sydneys-historic-gowings-building/2012062655281" target="_blank"> is set to open in October in the iconic Gowings building in the CBD</a> after a $1.85 million fit-out. 
Topshop is wholly owned by Phillip Green from the Arcadia Group and first existed in the basement of a Peter Robinson department store in 1964. 
The first stand-alone Topshop opened in 1974, and the brand has now expanded to a whopping 750-plus stores across 32 countries. 
The flagship store located in Oxford Circus, London, attracts more than 200,000 shoppers a week. 
Topman was created as a spin-off to cater for male customers and is run as a separate chain, although some stores are co-located, including South Yarra’s Topshop/Topman. 
It is an exciting time for Melbourne and Sydney residents, who previously had to purchase collections and outfits online. 
The online store topshop.com began in 2000 updating the clothes straight off American and British catwalks that have not yet landed in Australian stores. 
Topshop is not the only offshore brand to make its mark in Australia, with international brand ZARA recently opening its second Melbourne store on Bourke Street (the brand had an outlet in Chadstone), along with its Pitt Street mall, Sydney, outlet. 
Fashion giants H&amp;M and Forever 21 are also rumoured to be scouting locations Down Under.
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Topshop set for second Melbourne store as fast fashion retailers expand Down Under

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The 2012 London Olympics may have placed restrictions on athletes being sponsored, but not all athletic events take the same stance. 
Sydney’s annual Sun Herald City2Surf fun run understands the importance of sponsorship for amateur athletes, allowing companies to sponsor individual runners. 
Sunday’s televised race brought a big audience for Sydney real estate agency McGrath, with the company logo on one runner’s singlet. 
<img src="/images/stories/2012/08/mcgrathcity2surf2.jpg">
McGrath sponsored both Harry Summers (who wore a singlet with the agency's logo) and Lara Tamsett for the 14-kilometre run, which starts in the eastern suburbs of Hyde Park and finishes along the sandy shore of Bondi Beach. 
Last year the event had 85,000 runners and raised more than $3.6 million for more than 600 charities. 
Summers, 22, came second, and Tamsett, 23, was the first woman to cross the finish line. 
Sponsorship can be seen as a form of survival for most athletes, especially those who devote much of their lives to training their body and mind. 
Tamsett maintains a regular training regime of about 100 kilometres per week in the lead-up to the race, making sure to listen to her body in order to avoid injuries. 
Summers, aka the barefoot runner because of the minimalist, no-support “barefoot” five-fingers shoes he wears, has competed in the event for the past three years, finishing in the top 10 on all occasions. 
“Both Harry and Lara are eastern suburbs locals who train in Centennial Park under the guidance of Sean Williams,” McGrath chief operating officer Geoff Lucas told Property Observer. 
“The City2Surf is an iconic community event which is part of Sydney’s <stockticker>DNA</stockticker> and as a company McGrath is very proud to be able to offer our support to two dedicated young people who are passionate in their endeavours,” Lucas says. 
McGrath declined to indicate the extent of its sponsorship but says this is the first year it has sponsored City2Surf. 
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McGrath a television winner as ‘barefoot’ runner and women’s champion cross City2Surf finish line

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

Joel Robinson

CPG unveils Castile Newstead ahead of upcoming sales launch

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

How Australia Post Parcel Lockers changed parcel delivery convenience in Australia

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

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

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

Sammut secures approval for debut Brisbane apartment development in Toowong

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

Nicola Trotman

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