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Lendlease secured strong figures for the FY16, showing a profit after tax of $698.2 million.
Group CEO and managing director Steve McCann suggesting that solid cash generation was a highlight.
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“Solid cash generation was a highlight of the result with operating cash flow representing over 120 per cent of Profit after Tax,” he said.
“Lendlease produced a strong result for the 2016 financial year (FY16) and maintained a disciplined and focused approach to delivering on our strategy.
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The development segment delivered a very strong result across both residential and commercial.
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Residential settlements were up 7 per cent to 4,790 units.
“The high level of residential pre-sales provides good future visibility for earnings," McCann said.
“We settled over 1,200 apartments with non-settlements at less than 1 per cent versus our historical average of closer to 3 per cent.
McCann also sited the contribution of the commercial buildings to the strong figures.
“The forward sale of three major commercial buildings, two at International Quarter London and one at Darling Square in Sydney, has further de-risked our development exposure."
The Australian Construction result was robust with EBITDA margins up by more than 1 percentage point to 3.7 per cent.
The Investments segment, representing 37 per cent of operating EBITDA, continues to deliver solid recurring style earnings.
Below is the Lendlease group financial figures
<a href="/images/2016/08/19/Lendlease%20group%20financials.jpg" target="_blank">Click here to enlarge</a>
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Group CFO Tarun Gupta said the FY16 result ensures that Lendlease enters FY17 in a strong financial position. 
“Generating in excess of $850.0 million in operating cash flow while deploying a further $3.0 billion6 into development of projects is a significant achievement.” 
At 30 June 2016, Lendlease held a cash balance of $1.0 billion and undrawn facilities of $2.2 billion, providing substantial financial flexibility.
Below is Lendlease's financial performance
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FY16 major highlights
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Profit after Tax of $698.2 million, up 13 per cent and earnings per stapled security of 120.1 cents, up 12 per cent 
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  Return on equity of 13.0 per cent2, up 60 bps 
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  Final distribution of 30.0 cents per stapled security, taking the full year distribution to 60.0 cents per stapled security 
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  Operating cash flow of $853.0 million, 122 per cent of Profit after Tax 
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  Further $3.0 billion deployed into development of projects3 
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  Strong balance sheet with gearing of 6.5 per cent4 and available liquidity of $3.2 billion 
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  Further de-risking Development with the forward sale of three major commercial buildings 
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  Record pre sold residential revenue of $5.9 billion5, up 13 per cent 
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  Establishment of a $400 million managed investment vehicle 
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  Construction backlog revenue of $20.7 billion, up 20 per cent 
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  Funds Under Management (FUM) of $23.6 billion, up 11 per cent 
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j.ballantyne1990-6AQqhLzZaK

Lendlease profits up 13 percent in FY16 - and no sign of rise in apartment settlement defaults

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The Urban Taskforce have backed a working group who are set to explore solar access issues for the centre of Parramatta.
The Urban Taskforce have said their impact on future development demonstrates positive support by all levels of government for private investment and is good news for Parramatta.
Chris Johnson, Urban Taskforce CEO said that a recent ruling by the Greater Sydney Commission that flagged a change to a council rule for solar access has had a major impact on a significant number of private sector development proposals.
“At a meeting called this week by the Department of Planning and the Greater Sydney Commission attended by senior staff from the Council of the City of Parramatta together with representatives of the property industry and the owners of three of the affected sites, it was agreed to establish a Working Group to actively explore options that may more effectively support development whilst respecting the amenity of the public domain.”
“The Urban Taskforce attended the constructive meeting and made it clear that we support the vision of both the State Government and Parramatta Council for the growth of Parramatta and its role as a dual CBD with the City of Sydney."
Johnson said however the Urban Taskforce did point out a number of areas where planning rules in Parramatta appeared to be more restrictive than those in the Sydney CBD.
“The Urban Taskforce is also concerned that the planning rules seem to have changed since a number of the planning proposals were lodged in conformance with the previous rules.”
“The Urban Taskforce looks forward to actively participating in the Working Group as it seeks to expeditiously achieve a workable and equitable outcome acceptable to all key stakeholders.” 
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Parramatta working group to explore solar access issues to the city centre

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Specialist investment manager Centuria Capital have announced results for the full year ended June 30 2016 and declared a fully franked final dividend of 3.00 cents per share.
John McBain, Group CEO was pleased with the overall figures. 
“Centuria delivered a record underlying net profit after tax of $10.4 million, which is at the upper end of guidance provided to the market in December.
"We are pleased that the FY16 fully franked dividend of 5.25 cents per share is in line with our aim to provide consistent earnings and distribution growth over the short and long term.”
<a href="/images/2016/08/18/Screen%20Shot%202016-08-18%20at%2010.55.38%20am.png" target="_blank">Click here to enlarge</a>
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Operating Highlights during FY16 included:
· Group funds under management increased 21% from $1.6 billion to $1.9 billion.
· Unlisted property fund acquisitions totaled $265 million.
· Centuria Metropolitan REIT portfolio book increased 9.3% to $400 million with distributions on forecast.
· Strengthened balance sheet supports unlisted acquisitions and acquisition of GMF stake.
 
Centuria is target 25 percent growth in Group FUM during FY17.
The acquisition of the $280 million Zenith Tower in partnership with Blackrock in July 2016 will contribute significantly to reaching the FUM target. 
“It has been a very successful year for Centuria and we believe our platform is well positioned to deliver growth in earnings," Group CEO John McBain added.
"We have clear strategies to enhance our business in FY17 and these include expanding and diversifying our distribution channels and a concerted move towards a higher recurring revenue model.
“Centuria will continue to review opportunities to expand the Group by acquisition of fund managers if they are on-strategy and enhance value to shareholders.”
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Centuria Capital target 25% FUM growth after posting strong profits

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A beachfront property at Pearl Beach has been listed for sale. 
The building at <a href="https://www.realestate.com.au/property-house-nsw-pearl+beach-123339446" target="_blank">1 Tourmaline Avenue</a> is approximately 5,862 square metres in size and sits on 670 square metres of land and comes with four bedrooms and four bathrooms . 
The two-storey, weatherboard holiday style home has over 20 metres of beach frontage and a wine cellar in the basement. 
Income can be gained by the lower level of the property which features a two-bedroom holiday let and a large sun deck with views to the beach and a 70-seat restaurant which was awarded one hat by the SMH Good Food judges.
The restaurant lease has five years remaining and is expected to provide a return of $94,000 per annum, the two-bedroom apartment on the lower level is expected to provide a return of $40,000 as a holiday rental.
The upper level of the property and the the owner’s apartment has two bedrooms and the master with ensuite. 
The property is listed by Stewart Shaw at Pearl Beach Real Estate who is listening to expressions of interest.
The median house price in Pearl Beach is $850,000 according to CoreLogic. 
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Beachfront at Pearl Beach hits the market

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Sekisui House, the world's largest residential construction company, support the latest industry forecasting for growth in Sydney's south west region.
Sydney's property prices have increased by more than $350,000 in just three years.
However, Sekisui House's new development, The Hermitage at Gledswood, is offering homes well below Sydney's $1,013,000 median house price.
Their new, two-storey, turn-key homes are selling from $738,000.
The Hermitage is a 307 hectare masterplanned community which will include Gledswood Village, a mixed-use precinct spanning over seven hectares that will include residential, retail, commercial, leisure and entertainment opportunities and a primary school slated for 2020.
There's 120 hectares of golf course and a future Greg Norman designed and constructed course, scheduled to be playable in 2018, and 35 hectares of parkland and open green spaces.
Westpac highlighted a report that reveals the state government’s ‘First Home Owner Grant’ (New Home) and stamp duty concessions under the ‘First Home–New Home Scheme’ make purchasing in south west Sydney one of the most affordable areas in metropolitan Sydney for first home buyers.
Sekisui House project director Craig D'Costa said Gledswood Hills experienced a considerable price growth of 15.5 percent between 2014 and 2015.
“In the year since the South West Rail Link opened, demand for property within our development The Hermitage has increased dramatically," he said.
"As one of the NSW Government's 'Priority Growth Precincts,' south west Sydney has received a great boost thanks to several large public works programs.
"Key government works like the M5 widening, WestConnex and the new airport at Badgerys Creek have combined to create a tremendous investment opportunity in the southwest growth corridor."
D'Costa noted a recent shift in the buyer demographic in the last 12 months.
"It is fast becoming a preferred precinct destination for buyers from all over Sydney, not just residents already residing in the local South West region”.
 
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South West Sydney primed for real growth

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A luxury family home in Malvern sold at the weekend at $3.8 million.
The four-bedroom, three-bathroom home at <a href="https://www.realestate.com.au/property-house-vic-malvern-123138190" target="_blank">41 Horace Street</a> comes with its own mud room, stone kitchen and gym area.
The property also has a solar-heated swimming pool, located near the landscaped garden. 
The contemporary design features remote internal and external blinds, a comprehensive AV system, intercom and security CCTV. 
Emma Bloom and Darren Lewenberg at Kay &amp; Burton, South Yarra sold the property.
The median house price in Malvern is $2 million according to CoreLogic RP Data.
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Luxury Malvern home with own mud room sold

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Gold Coast residential developer Villa World have reported a 32 percent rise in its 2016 net profit having delivered $33.7 million in net profit after tax.
They are keen to buy more development sites after seeing a substantial rises in profits from $25.6 million last year.
The company reported strong sales figures for the year ending June 30, driven by strong sales, settlements, and a focus on domestic buyers.
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“In 2016 we hit our target with a total of 1185 sales, almost double our result from three years ago,” managing director and chief executive Craig Treasure said.
“The domestic market has been our focus with less than 5 per cent of 2016 sales to international purchasers.”
The company also achieved a higher number of settlements this year, seeing a rise from 816 last year to 1073.
The amount of settlements helped lift Villa World's revenue by 20 percent to $387 million.
They purchased 2139 lots, taking their portfolio to 5937 lots as at June 30.
“The near-term focus will remain on the continued replenishment of the portfolio in southeast Queensland, growing the Victorian land bank with a focus on the southeastern and northern growth corridors of Melbourne, and growing a presence in NSW,” Craig said.
The company is targeting a net profit growth of at least 5 per cent and a dividend of at least 18c a share next year.
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Gold Coast developer Villa World secure 32 percent rise in profits

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DEXUS Property Group (DEXUS) has posted a strong 2016 financial result.
Dexus are Australia's largest office landlord with 1.8 million sqm of office space under management.
They have grown their third party funds from $5.6 billion in FY12 to $11.2 billion.
“Four years ago we reset our strategy to focus our business on Australian office property and third party funds management," said DEXUS CEO Darren Steinberg.
"Over the past four years, we have improved our efficiency reducing our Management Expense Ratio from 67 basis points to 35 basis points.
"At the same time, we have continued to maintain a strong balance sheet, and with recent divestments this further strengthens our position.
“We have fostered a culture of innovation and continuous improvement, invested in our people to build their capabilities and enhanced our customers’ experience, delivering new products and services.
“We have expanded our development pipeline and identified trading opportunities, positioning the portfolio for future growth.
Darren said DEXUS are expecting to deliver a solid result in FY17 despite recent divestments.
"We expect underlying FFO per security to grow by 3.0-3.5 percent and distribution per security by 2.5-3.5 percent.”
DEXUS FY17 Highlights
Funds from Operations1 (FFO) of $610.8 million, up 12 percent on FY15
Adjusted Funds from Operations2 (AFFO) of $413.9 million, up 12 percent on FY15
Statutory net profit of $1,259.8 million, up 104 percent on FY15, driven primarily by revaluations
FFO per security of 63.1 cents and distribution per security of 43.51 cents, both up 6 percent on FY15
Return on Equity3 of 19.3 percent and an average of 12.2 percent over the past four years
Group Management Expense Ratio4 of 35bps, down 6bps from 41bps at FY15
Net tangible assets (NTA) per security of $7.53 at 30 June 2016, up 13 percent or 85 cents from 30 June 2015
Gearing5 of 30.7 percent8 
 
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Dexus Property Group post strong 2016 financial result

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Stockland performed strongly in FY16, growing asset returns, broadening its customer base and taking advantage of supportive market conditions. Revenues were up 10 percent.
They generated substantial profit growth from its business activities, with FFO of $740 million, up 12.5% on FY15.
Statutory profit was $889 million, down 1.6% on the prior year due to a number of unrealised fair value items.
Stockland's return on equity increased 1.1 percent to 11 percent, excluding workout assets.
<a href="/images/2016/08/17/Screen%20Shot%202016-08-17%20at%209.58.25%20am.png" target="_blank">Click here to enlarge Stockland's growth in FFO and underlying profit</a>
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The company's residential, commercial property and retirement living arms all made solid contributions.
Mark Steinert, Stockland managing director and CEO said the company delivered strong results in FY16 by executing strategy and delivering purposes in their communities and properties.
"I’m very pleased that each of our commercial property, residential and retirement living businesses have made significant contributions to the performance of the Group.
"Our commercial property business delivered comparable FFO growth of 4.5% and we achieved a record number of settlements in both our residential and retirement Living businesses. 
<a href="/images/2016/08/17/Screen%20Shot%202016-08-17%20at%209.57.58%20am.png" target="_blank">Click here to enlarge Stockland's key achievements over FY16</a>
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FY 16 Results
 Statutory profit of $889 million, down 1.6 percent on FY15
 Funds from operations (FFO) of $740 million, up 12.5 percent1
 FFO per security of 31.1 cents, up 11.1 percent
 Underlying profit of $660 million, up 8.5 percent
 Underlying earnings per security (EPS) of 27.8 cents, up 7.3 percent
 Profit growth in all core businesses, with Residential operating profit up 38.8 percent
 Return on equity (ROE) of 11.0percent, up 1.1 percent
Net tangible assets (NTA) per security of $3.82, up 3.8 percent. Distribution per security (DPS) of 24.5 cents, up 0.5 cents 
FY17 targets
Targeting growth in FFO per security of 5.0 – 7.0 percent, assuming no material change in market conditions
From FY17, our distribution policy will be based on FFO and will reflect a payout ratio of 75 – 85 percent. We are targeting an estimated distribution per security of 25.5 cents, a 4.1 percent increase on FY16, assuming no material change in market conditions 
 
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Stockland perform strongly in FY16 with 10% rise in revenues

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After two false starts, the Olympic fast man Matt Shirvington and wife, Jessica have relisted their Mosman home for a third marketing campaign.
The updated 1897 Federation home dropped off online listing sites earlier this year, but is back this time through McGrath's Michael Coombs.
Coombs has set an early spring September 10 auction date. The price guidance is $4.3 million to $4.6 million.
It had previously been with Belle Property Mosman which failed to sell the home after over 100 days on market.
The couple tried to sell the home back in 2012, however failed after spending 65 days on the market.
Set on a large 822 sqm corner block, the single level home has four bedrooms, a grand formal dining room and a private marble finished outdoor terrace. 
Shirvo, known as the second fastest Australian sprinter of all time, paid $2.5 million for the home in 2008, the year he retired as a professional athlete.
Since life off the track, Shirvington has appeared on Dancing with the Stars, and is currently a sports presenter for Sky News Australia and host of Fox Sports NRL coverage.
He and wife, author Jessica are childhood sweethearts, having been together since they were 17. She is the author of the popular Violet Eden Chapters series.
They have two daughters, Sienna and Winter.
Mosman is one of the slowest selling private treaty markets, according to CoreLogic, with their time on market currently at 70 days. The Sydney average is 34 days.
This article was first published in the Saturday Daily Telegraph.
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Matt Shirvington tries for third time to sell in Mosman

Buying into a masterplanned community often means committing to a vision still years from taking shape. At <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>, that vision is already visible.

Residents have moved into the completed first stage, landscaped spaces are established, and the next chapter is now underway. Stage 1 has been completed and settled, with Stage 2 now selling off-the-plan.

Designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a>, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> combines attainable apartment living with sustainability initiatives rarely seen at this price point, including rooftop solar, battery storage and a resident EV-sharing program.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/6RNt3AvtBpI?si=JUhuCV2ZRXsYaoJZ" title="YouTube video player" width="560"></iframe>

Located on Schofi​elds Road, just moments from Tal​lawong Metro Station and Schof​ields Train Station, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been designed to appeal to a broad mix of buyers, from first-home purchasers looking for a foothold in Sy​dney's property market to downsizers seeking a connected, low-maintenance lifestyle.

<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been conceived as a thoughtfully planned masterplanned community that will evolve over multiple stages, with buyers now able to secure one, two and three-bedroom apartments within a neighbourhood that is already beginning to establish its identity.

One of the project's defining features is its focus on sustainability. Solar energy systems, battery storage and future EV charging infrastructure have been incorporated throughout the development, reflecting a long-term approach to both environmental performance and everyday convenience.

Sustainability sits at the centre of the development's vision, with solar energy systems, battery storage and future EV charging infrastructure integrated throughout the community.

That emphasis on future-ready living extends beyond the technology. Landscaped communal gardens, outdoor gathering spaces and plans for a future retail precinct aim to create a neighbourhood where residents can access daily conveniences without travelling far from home.

[smartcode_project:default project_id=149637 project_image_fid=351027]

The apartments themselves have been designed with liveability front of mind. Rather than chasing maximum density, the focus has been placed on creating practical homes with generous natural light, usable layouts and strong connections to outdoor space.

Importantly, these design principles have been applied consistently across the one, two and three-bedroom apartment offerings.

The appeal of <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> is also closely linked to its location within Syd​ney's rapidly evolving north-west growth corridor. Over the past decade, major infrastructure investment has transformed the area, with new transport links, business precincts and community facilities reshaping suburbs like Talla​wong and Schofiel​ds.

The agent says buyers are increasingly recognising the area's long-term potential.

"Typical buyers that we're finding across <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> especially are your first-home buyers, your investors, your upsizers as well as your downsizers," Hawes says.

Connectivity remains one of the project's strongest drawcards. Residents have access to both Tallaw​ong Metro Station and Schofi​elds Train Station, providing links to the Sydn​ey CBD, Norw​est Business Park, Macquari​e Park and other major employment hubs. Retail centres including Rous​e Hill Town Centre and Sch​ofields Village are also nearby, alongside schools, parks and future healthcare infrastructure.

[smartcode_project:default project_id=149637 project_image_fid=351031]

For Stage 1 resident Roji, it is the balance between convenience and comfort that has defined the experience of living at Kew.

"For me, it's a balance of quality and convenience," she says. "Everything I need is right here."

"If I wanted to catch the train, Scho​fields Station is just around the corner. Tallaw​ong Metro connects me to the city."

More importantly, she says, the development has delivered something that cannot be measured in floorplans or specifications.

"<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> feels like home."

[smartcode_project:default project_id=149637 project_image_fid=351024]

As Stage 2 enters the market, that lived experience may be one of the project's strongest selling points. Buyers are not purchasing into an untested concept or a future promise. They are joining a community that is already taking shape.

Ongoing investment in transport, retail, healthcare and public open space continues to strengthen the appeal of Syd​ney's north-west growth corridor, while <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>'s established first stage provides buyers with a tangible sense of the community's future direction.

For a limited time, buyer can secure a new home at <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> with just a $10,000.

[smartcode_project_cta:default project_id=149637]

Joel Robinson

Kew Tallawong: A growing community taking shape in Sydney's north-west

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

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

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

Kew has long been regarded as one of Melbourne's premier residential suburbs. It's a location defined by its grand period homes, leafy streets and some of the city's most prestigious schools, yet it has often sat just outside the spotlight cast on neighbouring Hawthorn and Camberwell.

Increasingly, however, buyers are recognising that Kew offers much of what draws people to those suburbs, with a quieter residential setting, exceptional amenity and long-term owner-occupier appeal.

Within a few minutes' walk, residents can access Kew Junction, one of Melbourne's most established village centres. Cafés, bakeries, restaurants, supermarkets, boutique retailers and everyday services are all on the doorstep, with local favourites including Centonove, Adeney Milk Bar Cafe, and Frank &amp; Harri creating the type of walkable lifestyle that has become increasingly difficult to find in Melbourne's inner east. Beyond the immediate neighbourhood, Glenferrie Road's renowned shopping and dining precinct in Hawthorn and the retail, dining and entertainment offerings of Camberwell Junction are both just a short drive or tram ride away.

The suburb is equally well connected. Tram routes 48 and 109 provide direct access to the CBD, while High Street and Cotham Road connect residents to the wider inner east.&nbsp;Nearby access to the Eastern Freeway also places the Yarra Valley, Mornington Peninsula and Melbourne Airport within easy reach, adding another layer of convenience for weekend travel.&nbsp;It's a rare combination of connectivity and tranquillity, where quiet residential streets sit just moments from some of Melbourne's most established shopping and lifestyle precincts.

For families, Kew remains one of Melbourne's most tightly held addresses. Carey Baptist Grammar School, Xavier College, Methodist Ladies' College, Trinity Grammar, Ruyton Girls' School and Genazzano FCJ College are all nearby, while the Yarra River parklands, walking trails and sporting clubs provide another layer of lifestyle appeal.

It's within this established pocket that developer Ricdanic is delivering <a href="https://www.apartments.com.au/new-apartments/wimba-ave-kew-9-11-wimba-avenue-kew-vic-3101">Wimba Ave</a>, a boutique collection of just 13 residences across two buildings named after its location on the tree-lined Wimba Avenue,&nbsp;within one of Kew's most prestigious pockets where homes have been known to sell up to and above $8 million.

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The residences prioritise the space that buyers are increasingly searching for but struggling to find in established suburbs. Living areas extend beyond five metres in width, ceiling heights range from three to five metres, and apartments open onto private gardens averaging around 125 sqm. Selected residences also feature balconies of approximately 60 sqm, while premium inclusions include Miele appliances, double-glazed windows, EV readiness, fully electric systems and a 7.2 NatHERS energy rating.

Architect Chris Idle says opportunities to deliver homes of this scale within established suburbs have become increasingly uncommon.

"There are very few opportunities to do these kinds of developments in leafy, established suburbs," he says. "To get this level of amenity, natural light, and architectural freedom in such a setting is extremely rare."

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The architecture draws on Kew's established character through the use of handmade Krause bricks, while landscaping by John Patrick introduces 23 plant species, including nine native varieties, creating an environment which focuses just as much on nature as it does the building.

Construction on Wimba Ave is well underway by renowned high-end builder Sinjen, with completion expected in late 2027. Prices start from $2.22 million.

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The enduring appeal of Kew's tree-lined streets and village lifestyle

"For me, it's the location." That was the first thing Chris pointed to when reflecting on why he and his wife Marita decided to purchase at Candela Ivanhoe, the under-construction new apartment development by Salter Brothers in the heart of the north-eastern M​elb​ourne​ suburb. ​

"We've lived here before… everything is here," Chris said.

"Our doctor is around the corner, there's dentists, pilates, everything we need, restaurants, fast food places, two train stations, Ivanhoe and Darebin, both in walking distance. You don't need anything else."

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Just 10 kilometres from Melbo​urn​e's CBD, Ivanhoe combines direct city connectivity with the amenity of an established village community. Residents have access to highly regarded schools, expansive parklands, public transport, and a thriving retail and hospitality precinct centred around Upper Heidelberg Road, all within a neighbourhood that has retained its leafy character despite its proximity to the city.

<a href="https://www.apartments.com.au/new-apartments/candela-ivanhoe-40-upper-heidelberg-road-ivanhoe-vic-3079">Candela Ivanhoe</a> sits within the heart of this established landscape, positioned just moments from Ivanhoe Village and within walking distance of many of the suburb's most sought-after amenities.

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From Candela, residents can access cafés, grocers, wine bars, restaurants and essential services on foot, while Ivanhoe Station and Darebin Station provide direct connectivity across Mel​bour​ne. The development is also surrounded by some of the suburb's best-known lifestyle destinations, including Pinkie, Laurent, Enni, Docasa and Woodfire Pizza e Cucina, alongside Ivanhoe Plaza, Woolworths, pharmacies and specialty retailers.

Green space is another defining feature of the suburb. Darebin Parklands, Ivanhoe Park, Nellie Ibbot Park and the Yarra River trail network provide extensive opportunities for recreation, while Ivanhoe Golf Course and Ivanhoe Tennis Club continue to underpin the area's long-established lifestyle appeal.

The suburb's education offering further strengthens demand. Ivanhoe Grammar School, Ivanhoe Girls' Grammar School, Mary Immaculate Primary School and Ivanhoe Primary School have helped establish the area as one of Melbou​​rne's most sought-after schooling precincts, attracting families and downsizers alike who want to remain connected to the area.

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While location was the priority for Marita and Chris, the project itself also needed to meet their expectations.

"Whilst location was paramount, I was also looking at design of the environment and Candela ticked every box," Marita said.

"We're just thrilled with our choice."

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Developed by <a href="https://www.apartments.com.au/developers/salter-brothers">Salter Brothers</a>, Candela Ivanhoe has been designed to complement its village setting, with an emphasis on generous floorplans, natural light and practical everyday living.

Residents will have access to a range of shared amenities, including a communal rooftop garden and dedicated residential lounge, complemented by a ground-floor café and lifestyle wellbeing centre, helping foster the sense of community already emerging among future owners.

That approach has resonated strongly with the market. More than 90 per cent of purchasers at Candela Ivanhoe are owner-occupiers, with buyers ranging from downsizers and second-home buyers to young families and first home buyers, creating a genuinely multi-generational community of grandparents, parents and children. It reflects a broader shift across Melbo​​urne's apartment market, where buyers are increasingly prioritising neighbourhood quality, lifestyle amenity and long-term liveability.

Currently under construction by Ironside, Candela Ivanhoe comprises 58 apartments. Candela Ivanhoe is scheduled for completion in the coming months, and residents can move in from September. One to four bedroom residences, prices from $649,000 and limited opportunities remaining.

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Staff reporter

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