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Following an ASIC investigation, Max Eung, of Tempe, New South Wales has been charged with two offences of obtaining financial advantage by deception.
ASIC alleges that between March 2016 and December 2016, Mr Eung dishonestly obtained a financial advantage of funds totalling $166,500 from accounts held with MLC Limited and Nulis Nominees (Australia) Limited in circumstances where the account holders did not authorise the withdrawal of those funds from their accounts.
Mr Eung was an authorised representative and financial adviser of NAB from May 2015 to December 2016.
He was permanently banned by ASIC from providing financial services and engaging in credit activities in June 2018.
The offences each carry a maximum penalty of 10 years imprisonment.
The matter is being prosecuted by the Commonwealth Director of Public Prosecutions.
The matter has been adjourned by consent for further mention on 7 May 2019 at the Downing Centre Local Court in Sydney.
<a href="/news/asic-permanently-bans-former-nab-financial-adviser">Last June ASIC permanently banned Max Kiattisak Eung</a> (also known as Kiattisak Eungpongpan) from providing financial services and engaging in credit activities.
While he was a financial adviser with NAB, it was alleged that during this period Mr Eung engaged in conduct including:
<ul>
<li>creating two false bank accounts in the names of his clients;</li>
<li>falsifying documents to open the false bank accounts;</li>
<li>causing withdrawals to be made from client funds to the false bank accounts and misappropriating client funds; and</li>
<li>impersonating his clients to attempt to obtain access to funds in the second false bank account.</li>
</ul>
Subsequently, Mr Eung incorporated a company for the purpose of operating a mortgage broking business and became a Credit Representative to provide credit assistance within that business.
ASIC found that Mr Eung had engaged in dishonest conduct, was likely to contravene a financial services law, and was not of good character. ASIC also found that Mr Eung was likely to contravene credit legislation and was not a fit and proper person to engage in credit activities.
Eung was an authorised representative and financial adviser with NAB from 21 May 2015 to 20 December 2016 and a credit representative of Connective Credit Services Pty Ltd from 14 September 2017 to 23 October 2017.
Eung’s banning will be recorded on ASIC’s Banned and Disqualified Persons Register and the Financial Advisers and Credit Representatives Registers.
The banning of Mr Eung is part of ASIC's Wealth Management Project.
The Wealth Management Project was established in October 2014 to lift the standards of major financial advice providers.
As part of its Wealth Management Project, ASIC has banned 47 advisers and one director from the financial services industry. Four bannings are the subject of appeals, with a further banning stayed pending the outcome of an appeal.
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Former NAB financial planner Max Eung faces jail over client fraud

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A Charter Towers City, Qld mortgagee home has sold for $145,000 after five and a half years.
This marks a price reduction of $35,000 on its 2007 sale price of $180,000.
Gail Hooper of Geaneys Real Estate held the listing.
Situated at <a href="https://www.realestate.com.au/sold/property-house-qld-charters+towers+city-130516218" target="_blank">32 Oxford Street</a> the property is a four bedroom one bathroom house.
Set on a fenced 1008 sqm allotment, it is a timber home with concrete stumps.
First listed in November 2013 it had an asking price of $320,000, however by January 2015 it had been reduced to $215,000.
The most recent recorded asking price back when Raine &amp; Horne held the listing in February 2019 was also $215,000.
It was rented for $270 per week, according to a previous listing from 2015.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
The median price for a home in <a href="/developments/charters-towers-city-qld-4820">Charter Towers City</a> is $124,500 according to CoreLogic, which calculate its annual change in median price over the past 10 years as -5.6%.
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Charters Towers City, Qld mortgagee home sold for loss after 5 years on the market

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A South Morang, Vic home has sold under the mortgagee auction hammer for $5,000, above the price guide.
The three bedroom two bathroom house came with a price guide of $360,000 - $395,000.
Brett Sparks and Brook Patto of Millership and Co held the listing.
Situated at <a href="https://www.realestate.com.au/sold/property-house-vic-south+morang-130766666" target="_blank">4 Pace Circuit</a> the property sold for $400,000. 
The 2010 built property is set across two storey's on 208 sqm.
This is an increase of $44,000 on its 2016 sale price when it traded for $356,000.
Located at the top of the court, it is minutes from Westfield, the train station and local schooling.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
The median price for a home in <a href="/developments/south-morang-vic-3752">South Morang</a> is $643,750, according to CoreLogic, which calculate its annual change in median price over the past 10 years as 6.4%.
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South Morang, Vic mortgagee home sold above price guide

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The Sydney suburb of Vaucluse is set to be the busiest place for auctions this Easter week with 7 homes expected to go under the hammer, according to CoreLogic
Next busiest is Sydney’s Rose bay, which has 6 auctions scheduled, followed by Cronulla, Leichhardt and Randwick, also in Sydney, which will be hosting 5 auctions each.
The Easter long weekend is expected to see a very low number of homes taken to auction, with only 386 scheduled auctions this week across the combined capital cities.
Easter is one of the quietest weeks of the year in terms of auction volumes.
<img src="https://www.urban.com.au/images/2019/4/18/Upcoming%20auctions%20APR%2018%202.JPG" alt="">
Over the Easter weekend last year there were 670 homes taken to auction.
Almost 60 per cent of all capital city auction activity is scheduled to take place in Sydney this week (220 auctions), while in Melbourne, just 48 auctions will be held.
118 auctions are scheduled to take place across the remaining capital cities, with 21 of those scheduled to take place in Brisbane and 46 in Adelaide.
Canberra is set to host 35 auctions this week, while Perth is expecting 16 auctions. There are currently no scheduled auctions in Tasmania this week.
<img src="https://www.urban.com.au/images/2019/4/18/Upcoming%20auctions%20APR%2018%201.JPG" alt="">
One example of the auctions taking place in Rose Bay this week is <a href="https://www.realestate.com.au/property-apartment-nsw-rose+bay-130752534" target="_blank">6/696 Old South Head Road, Rose Bay</a> (pictured in title).
In the suburb adjacent to Vaucluse, this penthouse style two-level apartment atop Kingsview is for sale without a price guide.
The three bedroom two bathroom apartment features 180° district views to the ocean and across Rose Bay golf courses to Bellevue Hill. 
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Vaucluse set to be busiest Easter week auction suburb

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Oxfam has announced it will close its Australian retail arm, closing all 13 stores.
The not-for-profit, part of the international Oxfam confederation, has a 50-plus-year retail history in Australia.
It began with Community Aid Abroad shops, later rebranded to Oxfam.
The sale of fair and ethical products has helped fund its charitable operations.
It opened two new format stores in Sydney back in 2016, but the SmartCompany website noted the organisation had been unable to beat the retail blues.
“We know this will be very difficult news for our staff and volunteers — and our customers — given how highly regarded Oxfam Trading has been over many years,” Oxfam Australia chief operating officer Tony McKimmie said.
“We sincerely thank them all for their dedication and significant contribution to our core mission of tackling poverty.”
McKimmie cited declining revenue in retail and wholesale channels, including flat online sales growth, as the financial factors behind the shutdown.
It reported the big players — Vinnies and Salvos — have been disrupted but are working quickly to revise their retail strategies. 
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Oxfam shuts its retail doors in Australia after 50 years 

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The relocation of a Brookvale Holden car dealership will pave the way for Chemist Warehouse’s fourth outlet on Sydney’s northern beaches.  
Chemist Warehouse has signed a five-year lease (with five-year option) on the freehold property at 2-4 Roger Street.
It housed Col Crawford Holden for several decades.
Chemist Warehouse will occupy the corner section of the property, with the remaining 410 square metres of space still available for lease.  
The property is located in a prime corner position adjacent to established marine operator Whitworths, with excellent exposure to Pittwater Road and Cross Street.
The property provides onsite parking for 18 vehicles.  
CBRE’s Amy Pfeiffer negotiated the lease on behalf of Col Crawford Pty Ltd for an annual net rental of approximately $500 per square metre.  
“Previously home to one of the northern beaches’ most well-known car dealerships, the site is arguably one of the best retail locations in Brookvale,” Pfeiffer said.
"The proximity of the premises to both Warringah Mall and Pittwater Road was a major drawcard for the national chemist retailer.”
This fit's into Chemist Warehouse’s current and ongoing plans for expansion, which include the intention to open around 30 new pharmacies each year.
Including the recent opening of their 400th outlet at the Kingston Central Plaza on a 500 sqm site in Moorabbin.
Chemist Warehouse has recently expanded into New Zealand with its first New Zealand store opening it's doors in St Lukes, Auckland, in late 2017.
They now have 5 CWH locations in Auckland alone.
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Col Crawford Holden's relocation allows Chemist Warehouse to open fourth Northern Beaches outlet

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GUEST OBSERVATION
With the re-election of the Berejiklian government, New South Wales now has a minister for public spaces, Rob Stokes. This portfolio was <a href="https://www.nsw.gov.au/your-government/the-premier/media-releases-from-the-premier/new-minister-for-public-spaces-protections-for-public-land-150-million-for-new-parks/" target="_blank">first mooted in February</a>, when the premier announced one of the new minister’s tasks would be to identify and protect publicly owned land for use as parks or public spaces.
As important as this task is, we need even more ambition in this portfolio. Public space is crucial to the social, economic, political and environmental life of our towns and cities. As well as increasing the quantity of public spaces, we need to improve their quality.
Here are ten priorities for government action to make our public spaces more plentiful and more accessible to all.
1. Rein in privately owned public spaces
From Barangaroo to Bonnyrigg, public spaces in new urban developments are often owned and controlled by private developers. The public has little say over the rules that govern these spaces and how those rules are enforced. Restrictions are often excessive, and private security guards are <a href="https://www.smh.com.au/national/nsw/security-company-apologises-after-reporter-accosted-at-malcolm-turnbull-event-20181118-p50gqi" target="_blank">known to overstep their powers</a>.
The minister for public space should <a href="https://www.theguardian.com/cities/2017/jul/24/revealed-pseudo-public-space-pops-london-investigation-map" target="_blank">map the extent of privately owned public spaces</a> and ensure these are governed by the same, democratically determined laws that cover publicly owned public spaces.
2. Strategic purchases of private land
As well as identifying publicly owned land that could be used for parks or public spaces, the minister should identify privately owned land that could be acquired for the same purpose. The <a href="https://www.glebesociety.org.au/?socialhistory=glebes-waterfront-history-the-last-40-years" target="_blank">gradual purchase of harbour foreshore property in Glebe</a> has resulted in a wonderful and well-used foreshore walk. Similar opportunities to create public space networks should be identified and planned.
3. Unlock the gates
Too much publicly owned public space is under-utilised because it is locked up. Across the city, ovals and public school playgrounds are fenced off from the public for much of the year when they are not in use. We own these spaces – when they’re not in use for sport or school, we should have access to them.
As minister for education, Stokes recently trialled a program of <a href="https://education.nsw.gov.au/news/announcements/schools-to-throw-open-gates-for-community-use" target="_blank">opening some school playgrounds during school holidays</a>. This should be done across the city. And councils should be required to show cause if they want to restrict access to any public spaces they own.
4. Stop the temporary enclosures
A growing number of park authorities and local governments are doing deals with private companies to <a href="https://theconversation.com/private-events-help-fund-public-parks-but-theres-a-cost-too-21343" target="_blank">temporarily fence off public spaces for commercial activities</a>. Sometimes they do this for days, <a href="https://www.smh.com.au/national/nsw/paul-keating-to-peter-garrett-dont-dance-on-sydneys-sacred-land-20171110-gzizzy" target="_blank">sometimes for weeks</a> and even months. They do it because they’re short of funds and need the revenue.
While programming events in public spaces can help attract crowds, we must halt the creeping logic of commercialisation, which results in us being charged money for access to our own spaces. The minister for public space should ensure park authorities do not need to depend on commercial funding for survival.
5. Maintain footpaths
The quality of footpaths makes a world of difference for many people. Think of parents with prams, little kids, people with mobility issues, and <a href="https://theconversation.com/eight-simple-changes-to-our-neighbourhoods-can-help-us-age-well-83962" target="_blank">older people</a> for whom falls are a big health risk. Our footpaths need to be wide and their surfaces even. They also need to incorporate places to rest.
The capacity of local governments to maintain footpaths is <a href="https://www.smh.com.au/national/nsw/australias-richest-suburb-theyre-swimming-in-it-20140103-309o8" target="_blank">highly uneven</a>. Public spaces in wealthy areas are gold-plated, while in other parts of the city footpaths are too often in poor condition or non-existent. The minister must think about the role that state government can play in evening things out, assisting local governments where required.
6. Provide public toilets
As with footpaths, the provision of public toilets can make the difference between going out or staying at home for many people. The minister should <a href="https://toiletmap.gov.au/find/New%20South%20Wales/Sydney" target="_blank">use existing data</a> to audit the provision and accessibility of public toilets in public spaces across the city, identify gaps and fund improvements where required.
7. Less private advertising, more public expression
While <a href="https://theconversation.com/view-from-the-hill-the-uncivil-mr-jones-104549" target="_blank">advertising on the Opera House generated controversy</a>, the <a href="https://www.smh.com.au/politics/nsw/why-the-creeping-sell-off-of-public-space-for-private-ads-is-so-wrong-20181008-p508el" target="_blank">creeping spread of commercial advertising in public space</a> is also of concern. All this advertising is commercialising our public spaces and crowding out other forms of public expression – from neighbourhood notices about community events and lost cats to murals and street art.
The minister should work with local governments to limit the amount of advertising in public space, and extract more public good from any advertising revenues raised in public space.
8. No more sniffer dogs and strip searches
The policing of public spaces makes a huge difference to its accessibility. Exclusionary policing strategies – especially the use of drug sniffer dogs and <a href="https://www.smh.com.au/national/nsw/rise-in-strip-searches-in-nsw-damaging-the-credibility-of-police-20190213-p50xew" target="_blank">rising use of strip searches</a> – should be stopped.
These tactics are not only put to work at festivals, but also around train stations and entertainment precincts. They are <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2018-12-03/fact-check-are-drug-dogs-incorrect-75-pc-of-the-time/10568410" target="_blank">ineffective in leading to prosecutions</a> and are too often used to shame, intimidate and harass people without basis.
The minister for public space needs to challenge the minister for police about this form of policing.
9. Care not control
This is not say that safety is unimportant. We know that <a href="https://theconversation.com/to-create-safer-cities-for-everyone-we-need-to-avoid-security-that-threatens-93421" target="_blank">fear of harassment and assault stops some people using public space</a>, not least women who often experience this.
However, we must not equate “feeling safe” with “more police” and “more surveillance cameras”. Indeed, sometimes these can have the perverse effect of making people feel less safe, by producing atmospheres of threat.
We feel safer when there are others around caring for the space. So, the minister should investigate ways to encourage these forms of care. Simple measures like later opening hours for neighbourhood shops, or staff on railway platforms and train carriages, can make a big difference.
10. Plant more trees
We need <a href="https://www.domain.com.au/news/one-million-urban-trees-808352/" target="_blank">more trees in our public spaces</a> – not just in parks, but on residential and commercial streets too. This is especially important in parts of the city where summer temperatures are already extreme for weeks at a time. Not only do trees help to cool these spaces, they also encourage more biodiversity and combat carbon emissions.
The minister should establish, and fund, a meaningful target for tree planting in public spaces.
This list of suggestions is far from exhaustive. But these reforms and others ought to be on the drawing board as the minister for public space sets about his new work.
It must be hoped this new portfolio is more than a tokenistic attempt to create the appearance of action on public space, in the face of criticism of this <a href="https://www.parliament.nsw.gov.au/researchpapers/Documents/Privatisation%20in%20NSW%20-%20a%20timeline%20and%20key%20sources.pdf" target="_blank">government’s record on privatisation of public assets</a>.<img src="https://counter.theconversation.com/content/115152/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
Kurt Iveson, Associate Professor of Urban Geography, University of Sydney
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/new-minister-for-public-spaces-is-welcome-now-here-are-ten-priorities-for-action-115152" target="_blank">original article</a>.
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New minister for public spaces is welcome – now here are 10 priorities for action

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The Queensland-based co-working space and business incubator Little Tokyo Two has been placed into voluntary liquidation.
Its founder and entrepreneur Jock Fairweather sending a message saying the business had become “unsustainable”.
Founded four years ago, Little Tokyo Two (LT2) had five locations across Brisbane and the Gold Coast.
The business was primarily offering a co-working space service to startup founders and aspiring entrepreneurs. However, the business had also recently expanded into offering incubation services and ‘growth plans’ for startups.
In the message, Fairweather said while the incubation offerings had performed well, the co-working model had become unprofitable and criticised new market entrants for “undercutting” prices.
“The business of running a co-working space has been struggling, with increased competition in the market and new entrants, who undercut prices to attract new members,” Fairweather said.
“After stress testing our future financial model and the financial difficulty we have recently faced we have concluded that the viability of the LT2 as a co-working space is an unsustainable option for our future.”
The Courier-Mail reports Brisbane City Council had invested $5 million in innovation hub The Capital, which Little Tokyo Two was a “foundation tenant” of.
The council told The Courier-Mail it was trying to find a new operator to “provide certainty for tenants”.
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Brisbane co-working space Little Tokyo Two collapses into voluntary liquidation

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Data released by SQM Research has revealed the national residential vacancy rate fell further to a low of 2.1% in March 2019, with the total number of vacancies Australia-wide now at 70,877.
Canberra is the only capital city to increase its vacancy rate from 0.8% in February to 0.9% in March 2019, reporting only 575 properties available for rent.
Sydney, Melbourne, Brisbane, Perth and Adelaide all experienced a 0.1% decrease in vacancy rates.
Darwin and Hobart have remained steady at 3.7% and 0.4% respectively.
Hobart continues to record the lowest vacancy rate in the country since September 2014.
Darwin’s vacancy rate is now 3.7% as the city continues to rank the highest of all capital cities since it overtook Perth in September 2018. Sydney currently has the second highest vacancy rate at 3.1%.
<a href="https://www.propertyobserver.com.au/images/2019/4/16/sqm%201.jpg" target="_blank">Click here</a> to enlarge:
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/4/16/sqm%201.jpg" alt="">
Although there have been some marginal decreases in vacancies in most states over the month, Perth was the only city to record increases in asking rents for both houses and units.
Hobart’s near double digit growth in asking rents for units reflects the ongoing strong demand in a city where rental supply has been pushed to its limits and experiencing shortages in accommodation.
For the major east coast capital cities, although the latest results show a tightening of vacancies and steady rents over the month and the near term, the expected influx of new construction completions and the uncertainty around the Federal election are likely to contribute to increased vacancies and downward pressure on rents, SQM said. 
Australia’s national vacancy rate has not exceeded 3% since SQM Research began collating vacancy rate data in 2005.
With Sydney’s vacancy rate already hovering at 3.1%, Darwin at 3.7%, Brisbane and Perth not too far behind this mark and with new construction completions set to rise over 2019, this may well become a reality towards the end of the year.
Asking Rents
Capital city asking rents increased 0.2% for units but declined 0.7% for houses over March 2019 to record asking rents of $556 per week for houses and $442 per week for units.
In comparison, over the 12 months, asking rents for units declined by 0.2% and rents for houses declined by 1.2%.
Hobart’s weekly asking rents for units surged ahead with a 9.9% increase over the month and 12.3% over the 12 months. House weekly rents however, have decreased 2.2% over the month but improved 4.9% over the year.
Sydney has managed a steady asking rent for units but house rents have marginally declined by 0.8% over the month.
Perth’s rental market increased for both houses and units at 1.2% and 0.9% respectively. In contrast, Adelaide has recorded rental decreases for houses and units at 0.5% for both.
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Vacancy rates fall in March, but election likely to lead to uptick: SQM Research

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Australia’s rapid property market downturn is beginning to have a severe impact on residential real estate agencies around Australia.
And it could force some out of business, says insolvency and turnaround specialist Jirsch Sutherland. 
“We are already noticing the first signs of financial distress,” says Jirsch Sutherland partner Sule Arnautovic.
“We understand that some agencies are struggling to meet their fixed overheads, with the likelihood of staff redundancies, consolidation, mergers or insolvency now firmly on the horizon. 
“With property values having dropped by as much as 15 per cent over the past 12 months, some agencies located in former powerhouse markets are considering mergers or insolvency as their incoming revenue declines rapidly. 
“We’ve heard from industry insiders saying that the drop in house prices is being exacerbated by longer marketing periods, lower-commission competitors, difficult credit access for buyers, and the fact that many younger sales agents, who found success easy during boom times, are now finding they lack the skills to cope in a far more challenging marketplace.”
Arnautovic says the future of numerous agencies around the country is likely to come into question, with declining revenues set to bite hard. 
“The housing market continues to tighten in many parts of the country and it’s already increasingly clear that many agencies will feel the pinch in terms of reduced and deferred revenue,” he says.
“With house prices tipped to drop much further in certain key markets over the coming months, we believe we may only be looking at the tip of the iceberg in terms of the challenges faced by real estate agencies.”
Rent rolls may not be the saviour 
Adding to potential difficulty is the fact that many agencies have not invested adequately in their property management divisions, preferring instead to focus most of their resources on sales.
As a result, few property management teams have been allowed to adopt new technologies that would make rental processes more efficient and easier for both landlords and tenants, thus allowing companies to better capitalise on the revenue potential of their rent rolls. 
“In previous downturns, and indeed the recession in the late 80s/early 90s, rent rolls helped keep many agencies afloat,” Arnautovic says.
“But today, as rents fall in some parts of the country, some agents will find they no longer have the income to service the loans they arranged to originally buy the rent roll. It could be a perfect storm: decreasing property management fees and lower volume of sales, which would make it difficult for some agencies to cope with their own property and asset leases, not to mention wages and entitlements. 
“With these new realities in mind, it’s vital for stressed agencies to consider action early if they find themselves in financial difficulty. The key thing to remember is that early action is vital. By deciding to adopt an appropriate strategy as soon as possible, highly adverse outcomes can most likely be avoided.”
Seeking Safe Harbour
The 2017 changes to Safe Harbour laws are one example of how worst-case scenarios can be avoided.  
“Safe Harbour laws give Directors breathing space, providing them time to consider the position of the company early in the piece, without the potential threat of insolvent trading,” says Arnautovic.
“In turn, this may improve the position for creditors, enabling them to explore the possibility of restructure or sale, which may subsequently lead to more of the company’s value being preserved.”
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Housing downturn could send real estate agents to the brink: Jirsch Sutherland

Developer <a href="https://www.apartments.com.au/developers/bottega-property-group">Bottega House</a> has secured council approval for its first Brisbane project - a $270 million luxury residential development on an absolute riverfront site in leafy St Lucia.&nbsp;

The 15-storey project, known as <a href="https://www.apartments.com.au/new-apartments/st-lucia-by-bottega-house-180-macquarie-street-st-lucia-qld-4067">St Lucia by Bottega House</a> , will occupy a prime north-facing site at 178-180 Macquarie Street, directly fronting the Brisbane River in the established inner-west suburb known for its rowing clubs, golf courses and sprawling University of Queensland campus.&nbsp;

St Lucia by Bottega House will feature a suite of amenities including dedicated wellness spaces, a mineral pool and cold plunge. The project has been positioned to attract affluent owner-occupiers seeking high-quality, house-sized apartments.&nbsp;

Bottega House has been set up by co-directors Nick Malloch, Louis Mennes and Craig Marsh.

Malloch said the project drew inspiration from its Brisbane River setting and leafy inner-west surrounds, while responding to the demands of discerning locals looking to transition from freestanding homes into apartment living.&nbsp;

"With an expansive river frontage and lush green surrounds, we knew we had to create something special that reflects the natural beauty of the location while offering residents masterfully crafted homes," said Malloch.&nbsp;

"Our intent was to complement the project's quiet, private setting by introducing residences that offer a calm retreat and sanctuary from the everyday. The result is a harmonious blend of architecture, interiors and amenity that emphasises wellbeing, comfort and beauty without excess."&nbsp;

Malloch added that project consultants had been carefully selected in alignment with Bottega House's commitment to care, quality and attention to detail. The design team includes architects <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a>, interiors practice <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and landscaping by <a href="https://www.apartments.com.au/architects/urbis">Urbis</a>.&nbsp;

Three-bedroom apartments are expected to start around $5 millio. Selling agents Keenan &amp; Byrne said the pricing strategy for the project was anticipated to achieve upwards of $25,500 per square metre.&nbsp;

The project's development approval this week follows the success of Bottega House's inaugural Queensland project - a 22-storey collection of full-floor sky homes at Broadbeach on the Gold Coast which included the sale of a two-storey penthouse at a record price for a beachside residence.&nbsp;

St Lucia by Bottega House is expected to launch to market in November, with construction anticipated to be completed mid 2029.

[smartcode_project_cta:default project_id=151826]

Joel Robinson

Bottega House to make Brisbane debut with St Lucia riverfront apartment development

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> is advancing its affordable apartment model into Brisbane with the acquisition of another site at Cordelia Street in South Brisbane for $27 million.

Sherpa, which has a $1.7 billion pipeline across Southeast Queensland, intends to bring a cohort of apartments exclusively for first homebuyers into its proposed 186-apartment project to be built at 2 Cordelia Street.

The Sherpa model has already been incredibly well received from their Gold Coast projects, where Sherpa Group set aside a number of apartments exclusively for first homebuyers.

The new $320 million project marks Sherpa Group's second development in Brisbane, following its $255 million Symphony project, also on Cordelia Street, which is currently under construction.

Symphony will deliver 146 apartments across 28 levels, offering a mix of one, two and three-bedroom apartments. With 114 already sold, construction by <a href="https://www.apartments.com.au/builders/lps-group">LPS Group</a> is scheduled for completion in 2028.

[smartcode_project:default project_id=7574 project_image_fid=351654]

Sherpa Founder, Christie Leet, said the company was excited to be venturing into Brisbane for its second residential project.

“We’re big believers in the future of Brisbane as we lead into the 2032 Olympics and beyond,” Leet said.

“The success of Symphony has guided us into what will be our second project and we look forward to submitting our plans with council soon so we can deliver yet another quality project to the inner city residential market.

“Our Flourish model has been very well received both in Brisbane and the Gold Coast, and we’re excited to be able to offer some of these apartments again exclusively to first homebuyers to help get them into the property market.

“The model has been extraordinarily well received in our previous projects and it is something we are committed to moving forward.”

2 Cordelia Street will be designed by <a href="https://www.apartments.com.au/architects/hal-architects">HAL Architects</a> &amp; Finegrain and will include Sherpa’s signature residential amenities including pool, gym, recreation, wellness and work from home spaces.

The project will feature ground-floor commercial space, creating a vibrant amenity for residents and the surrounding community.

A development application will be lodged with Brisbane City Council in August on the code compliant site and will be launched to the market early 2027.

Sherpa acquires new site for second Brisbane apartment tower

One of North Sydney's best-known commercial buildings could become hundreds of new homes, with insurance giant Zurich Australia lodging a State Significant Development Application (SSDA) to transform 5 Blue Street into a mixed-use residential development above North Sydney Station.

Rather than demolishing the existing building and starting again, Zurich is proposing an adaptive reuse project that would convert the landmark office building into a 15-level residential development delivering 62 apartments, 86 affordable co-living dwellings, activated retail and significant upgrades to the Blue Street Plaza.

The proposal reflects a growing trend of commercial property owners repositioning ageing office assets into residential housing as Sydney grapples with housing supply shortages and changing workplace demand.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="0bba7d12-06dc-4375-aad7-238c94b21ac5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.42.05%E2%80%AFAM.png?VersionId=NJl5oLAEBDGuPmY3RnyliKODjMc8lvRh" />

Located directly above North Sydney Metro and train station, the 3,051 sqm site occupies one of the most strategically positioned parcels of land on Sydney's Lower North Shore.

Designed by fjcstudio, the proposal seeks to retain and adapt much of the existing structure while creating a contemporary residential address that better connects with the public domain surrounding North Sydney Station.

The application proposes two basement levels, ground floor retail, affordable co-living accommodation across the podium levels, and apartments above, while preserving and enhancing the publicly accessible Blue Street Plaza.

Rather than pursuing maximum apartment numbers, Zurich has opted for a housing mix heavily weighted towards larger owner-occupier residences.

The proposal includes 62 build-to-sell apartments comprising 12 one-bedroom, 19 two-bedroom, 29 three-bedroom apartments and two premium penthouses. It also incorporates 86 affordable co-living dwellings, which would be managed in perpetuity by a Community Housing Provider.

That balance between traditional apartments and affordable housing reflects the NSW Government's push to increase housing diversity around major transport infrastructure.

The proposal has been lodged concurrently with a rezoning application, with Zurich arguing the site is ideally positioned to support additional housing given its immediate proximity to public transport, employment and services.

"The proposal aims to respond to the housing challenges facing Sydney through the delivery of diverse housing types in a highly accessible location," the design report by fjcstudio states. It also seeks to improve pedestrian amenity through upgrades to Blue Street Plaza while creating a high-performing residential building that responds to the surrounding context.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="36082e15-c636-4481-bb68-5a5f6443fe39" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.41.36%E2%80%AFAM.png?VersionId=5P6VD.fvmqjQfIG3TWWMRXxQWiQBjeFB" />

Rather than replacing the commercial building, fjcstudio has developed a design that works with the existing structural framework above the rail corridor, an approach that significantly reduces demolition while allowing the site to be repositioned as a mixed-use residential precinct.

The existing structural constraints have informed much of the building's design, including its relationship with Blue Street and surrounding public spaces.

The building has been designed as a slender tower rising above a clearly defined podium, with vertically expressed façades intended to reduce the perceived bulk while reinforcing North Sydney's emerging skyline.

According to fjcstudio, the architectural language responds directly to the surrounding commercial towers while maintaining a finer grain expression more closely aligned with the neighbouring Lavender Bay streetscape.

The tower incorporates articulated façade elements, landscaped podium edges and recessed upper levels to soften its appearance and improve pedestrian amenity below.

A significant component of the proposal is the revitalisation of Blue Street Plaza.

The existing public space has long served as one of the primary pedestrian connections between North Sydney Station, Greenwood Plaza and Blue Street, yet its role is expected to become even more important following the opening of Sydney Metro.

Zurich's proposal seeks to strengthen that role by improving landscaping, introducing new retail frontages, enhancing pedestrian permeability and creating more active edges throughout the day and evening.

Ground floor retail would wrap the plaza, while separate residential and co-living entries have been designed to improve wayfinding without reducing street activation.

Landscape design has been integrated throughout the podium and public realm, softening what is currently one of the most heavily urbanised parts of North Sydney.

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fjcstudio has carefully oriented apartments towards Sydney Harbour and the CBD while using privacy blades and articulated façades to minimise overlooking between neighbouring buildings.

Large framed openings along the western elevation maximise harbour outlooks, while the eastern apartments have been angled towards the south-east to improve privacy from neighbouring development.

The project forms part of the continuing transformation of North Sydney from a predominantly commercial CBD into a genuine mixed-use city centre.

Since the completion of Victoria Cross Metro Station, developers have increasingly shifted their attention towards residential projects capable of leveraging the area's unparalleled transport connectivity.

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FiveX recently lodged plans for a 61-storey, 490-apartment tower that would become one of the tallest residential buildings in North Sydney if approved.

Aqualand continues to expand its Lower North Shore presence following the completion of AURA on Walker Street and its recent St Leonards and Roseville proposals.

Developers are also progressing projects throughout Walker Street, Miller Street and the Victoria Cross precinct as demand for well-located owner-occupier apartments continues to strengthen.

First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station

Busy developer Aqualand Prestige has formally taken the next step in its expansion across Sydney's Lower North Shore, lodging a State Significant Development Application (SSDA) for its long-held Archer Street site in Chatswood.

The application covers <a href="https://www.apartments.com.au/new-apartments/51-55-archer-street-chatswood-nsw-2067">51-55 Archer Street</a>, a 1,767 sqm amalgamated site on the eastern edge of the Chatswood CBD, where the developer is seeking approval for a 45-level mixed-use tower delivering 114 apartments, including a significant affordable housing component, alongside retail, commercial space and six basement levels of parking.

The SSDA marks the latest milestone for a project Aqualand has been quietly progressing over the past two years. The developer first secured the site for its Aqualand Prestige platform before undertaking an alternative design excellence process with PTW Architects, ultimately avoiding a formal design competition through the Housing Delivery Authority pathway.

The proposal has evolved considerably from Aqualand's original concept. The revised scheme has been designed around larger owner-occupier product, with an unusually high proportion of three and four-bedroom apartments, targeting the more affluent buyer profile, and downsizer, emerging across the North Shore.

<img alt="Archer St" data-entity-type="file" data-entity-uuid="0171204c-5811-41b5-9b09-2335d1b7c3d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%208.52.48%E2%80%AFAM.png?VersionId=6YTuxfq.puZo7k2wbfgemcO5K3QfXYGQ" />

The 114-apartment mix comprises six studios, 27 one-bedroom apartments, 18 two-bedroom apartments, 50 three-bedroom residences and 13 four-bedroom homes. A quarter of the building will be dedicated to affordable housing, well above the mandated 15 per cent&nbsp;

PTW has structured the building vertically, with affordable housing across levels one to six, premium apartments through levels seven to 31, duplex skyhomes on klevels 32 to 43, a penthouse on level 44, and a rooftop plant level above. Six basement levels will provide resident parking and servicing.

The tower is proposed to reach approximately 154 metres, placing it among a growing collection of residential high-rises transforming Chatswood's skyline.

Rather than competing purely on height, PTW says the design has been driven by creating a slimmer tower capable of delivering significantly larger apartments.

"The primary objective of this project was to create a distinctive building that stands out from the recently approved or built structures in the Chatswood area," the design report states, noting the structural efficiency allows greater investment into apartment quality and resident amenity.

Residents would have access to more than 450 sqm of communal open space including landscaped gardens, swimming pool, rooftop entertaining areas, fitness spaces, community gardens, children's play areas and barbecue facilities.

A major focus of the design has been the public domain.

The ground plane has been opened up through landscaped terraces inspired by Willoughby's sandstone ridges, with native planting, public seating, artwork, retail activation and a series of gathering spaces intended to soften what has traditionally been a hard commercial streetscape.

The landscape strategy references Blue Gum forests once common throughout the area, while incorporating Indigenous storytelling, public art and lighting installations to strengthen the connection to Country.

Chatswood has been one of Sydney's busiest apartment markets over the past 12 months, with a steady pipeline of both new project launches and fresh development applications.

Hyecorp recently launched Celine, a 122-apartment development just along Archer Street, while Changfa and Huirong Group are progressing The Anderson, an 84-apartment project on Anderson Street.

Develotek recently secured approval for a 101-apartment tower on Pacific Highway, while Tian An LFD received the green light for Hammond Greens, its apartment development on the edge of the Chatswood Bowling Club.

Commercial property developer FiveX is also making its move into the residential market. Last month it lodged plans for a 61-storey tower with 490 apartments, which, if approved, would become one of the tallest residential buildings in Chatswood.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-targets-chatswood-skyline-with-61-storey-tower-after-north-sydney-plans">First look: FiveX targets Chatswood skyline with 61-storey tower after North Sydney plans</a>

Aqualand is also expanding its development pipeline following the launch of its luxury residential brand, Aqualand Prestige. The developer has delivered a string of high-end apartment projects across Sydney's affluent suburbs over the past decade, most recently AURA by Aqualand on Walker Street in North Sydney.

[smartcode_project:default project_id=30959 project_image_fid=292863]

It has since quietly assembled its next wave of projects.

Earlier this year Aqualand launched Boronia in Roseville, a boutique 111-apartment development on Larkin Street. The project is one of the first significant apartment developments to launch in the suburb ahead of what is expected to become one of Sydney's most active new housing precincts under the NSW Government's Low and Mid-Rise Housing reforms, which allow greater density around train stations.

[smartcode_project:default project_id=152095 project_image_fid=373685]

The developer has also lodged plans for a two-tower, 413-apartment development on Herbert Street in nearby St Leonards, further strengthening its presence across the Lower North Shore.

Beyond that, Aqualand remains behind the final stage of Barangaroo, where plans will deliver a five-hectare mixed-use precinct comprising new homes, retail, hospitality and community facilities, alongside a new Metro entrance and more than two hectares of public open space, completing the Barangaroo precinct.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/central-barangaroo-development-takes-big-step-with-concept-proposal-approval">Central Barangaroo development takes big step with concept proposal approval</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-aqualand-joins-st-leonards-apartment-party">First look: Aqualand joins St Leonards apartment party</a> 
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First look: Aqualand pushes ahead with Chatswood apartment tower as SSDA lodged for Archer Street

Mass timber is becoming an increasingly popular construction material in apartment developments, but Adelaide developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> is taking the approach a step further.

At its new <a href="https://www.apartments.com.au/new-apartments/flowe-bowden-18-gibson-street-bowden-sa-5007">Flowe Bowden</a> development, the exposed cross-laminated timber (CLT) structure isn't just about reducing the building's environmental footprint. It also forms the foundation of a broader wellness strategy, influencing everything from indoor air quality and natural materials to the way residents move through and experience the building.

The 115-apartment mixed-use development, designed by Melbourne-based architecture practice Fieldwork, will occupy a prominent island site opposite Bowden Village Reserve, combining one, two and three-bedroom apartments with retail and a dedicated wellness destination.

[smartcode_project:default project_id=152022 project_image_fid=375528]

Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.

The development has been split into two residential wings connected by a naturally ventilated central breezeway, replacing traditional enclosed corridors with open-air walkways that improve natural light, encourage cross ventilation and create more opportunities for neighbourly interaction.

"Rather than treating wellness as something that only happens on the ground floor, our response integrates it throughout the building, which led us to ask what it really means to design a healthy building," Fieldwork Director Quino Holland said.

[smartcode_project:default project_id=152022 project_image_fid=375531]

The building's architecture also reflects Bowden's industrial heritage. The lower podium references the area's historic brick and sandstone buildings, while the upper levels transition to exposed CLT, allowing the timber structure to become a defining feature throughout the apartments and shared spaces.

The use of mass timber sits alongside a range of sustainability initiatives, including a fully electric, gas-free design, rooftop solar and a targeted 5 Star Green Star rating.

[smartcode_project:default project_id=152022 project_image_fid=375524]

Inside the residences, the focus remains on natural, durable materials. Blackbutt engineered timber flooring, exposed CLT ceilings, porcelain surfaces and warm timber joinery create a calming interior palette, while low-VOC finishes and responsibly sourced materials have been selected to improve indoor air quality.

Kitchens have been designed as the centrepiece of each apartment, featuring porcelain island benchtops, timber-look cabinetry and brushed steel tapware, with layouts that maximise natural light and ventilation.

[smartcode_project:default project_id=152022 project_image_fid=375530]

The more traditional interpretation of wellness comes in the form of Level Eleven, a two-storey wellness club spanning the ground floor, mezzanine and first floor.

The facility will include a gym, yoga and reformer Pilates studios, Finnish and infrared saunas, magnesium hot and cold plunge pools, and dedicated recovery spaces. Unlike many residential wellness facilities, Level Eleven will also operate commercially, allowing the broader Bowden community to access the venue while giving residents exclusive membership benefits.

The ground floor has also been designed around everyday living. A café overlooking Bowden Village Reserve will activate the street frontage, while a bike workshop with tool storage, co-working space and dog wash has been incorporated to support daily routines and encourage interaction between residents.

"Flowe brings together my two biggest passions, creating places and creating healthier lives," Otello founder Daniel Harris said.

"We wanted to create something Adelaide hasn't seen before, a genuinely healthy building, where the way you live is lifted without even trying."

Flowe is positioned directly opposite Bowden Village Reserve and within walking distance of Bowden Railway Station and the Adelaide Entertainment Centre, placing future residents just minutes from the Adelaide CBD while remaining connected to one of the city's most established urban renewal precincts.

[smartcode_project_cta:default project_id=152022]

Staff reporter

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