<html><body>
I have been asked by a number of our industry members if REIA intends to make a statement or provide direction in regards to Corona Virus.
I don't intend to make any comment about what precautions you, your employees and your families should take. The best advice to follow is that being provided by local, state and federal health authorities. Obviously, care should be taken in the workplace which also extends to open homes, auctions, corporate travel and the like.
Representing the real estate industry, I attended a large gathering of business and government people in Sydney last night. Rest assured the necessary precautions were being taken. Corona Virus was obviously the main topic of conversation and it was abundantly clear the situation is yet to truly unfold in Australia.
With this in mind, we should be aware of what impact the virus will have on our property markets across the country. It is more likely our markets will be affected by reduced consumer sentiment than the actual virus itself. I am already hearing of many stories whereby potential vendors are deciding not to sell at this time, preferring to wait until things normalise.
Whilst such a notion is completely understandable, it doesn't make sense as we all know it is better to sell in a market with less competition and I have no doubt that our buyers will continue to purchase regardless of how the seller may be feeling. I suspect any reduced consumer sentiment is likely to be magnified in the larger cities than in regional parts of Australia, just as the nonsensical rush to buy toilet paper has been.
I have no doubt that once this situation is managed and under control our markets will return to normality just as they did after the bushfires earlier in the year.
If REIA receives any messages from government to be disseminated to the property industry we will do so. Aside from that, let's continue to follow the advice of the health experts and keep ourselves, friends and families safe.
ADRIAN KELLY is the REIA President
</body></html>

j.ballantyne1990-6AQqhLzZaK

Coronavirus may exacerbate current sellers market: REIA's Adrian Kelly

<html><body>
GUEST OBSERVATION
Working from home is already so common it has its own acronym, and it’s about to get even more common still. Companies <a href="https://www.inc.com/bill-murphy-jr/amazon-microsoft-apple-google-twitter-work-from-home-stanford-study" target="_blank">like Apple, Amazon and Microsoft</a> are now advising employees to “WFH” to avoid exposure to the novel coronavirus.
But working from home can be a real challenge for employees who find themselves doing it for the first time. To address this concern, many employees are turning to digital solutions to help them interact with colleagues and stay productive away from the office.
Here are some tech options for three styles of work: formal meetings, informal discussions, and team projects. But none of them, as we shall see, is without drawbacks. 
Formal meetings
The first question on most people’s minds is how to conduct meetings with colleagues or clients. One of the most common answers is <a href="https://zoom.us">Zoom</a>, a video communication platform that combines conferencing, online meetings, chat and mobile collaboration.
Zoom is widely used as an online substitute for formal meetings, and last week its <a href="https://www.nasdaq.com/articles/stock-alert%3A-zoom-video-communications-rises-12-2020-03-05">share price surged by 12%</a> in anticipation that cornavirus quarantines will see it adopted even more widely. Among the platform’s selling-points are its ease of use, and ability to stream presentations as well as host meetings.
But while digital solutions like Zoom offer useful way for colleagues to meet, they are arguably less satisfactory for interacting with customers. Research <a href="https://www.washingtonpost.com/sf/brand-connect/hilton/the-science-of-being-there/">suggests</a> that online meetings fail to deliver the same feelings of connection and empathy, compared with a face-to-face meeting.
Informal discussions
While video conferencing is useful for formal meetings, it is less appropriate for informal chats, brief queries or rapid status updates, such as “have you sent that invoice yet?”. This task is more suited to instant messaging platforms or group chat apps.
A common tactic is to use Facebook messenger, WhatsApp or gchat. But these can be distracting and intrusive, particularly at high volumes, causing workers to lose focus and concentration.
Many companies have instead adopted <a href="https://slack.com/intl/en-au/">Slack</a> and <a href="https://products.office.com/en-au/microsoft-teams/group-chat-software">Microsoft Teams</a>, which offer instant communication without the distraction of social media. IBM has reportedly adopted Slack for <a href="https://www.businessinsider.com/ibm-slack-partnership-customer-digital-transformation-2020-2?r=AU&amp;IR=T">all of its 350,000 employees</a>. And Slack has reportedly <a href="https://edition.cnn.com/world/live-news/coronavirus-outbreak-03-06-20-intl-hnk/h_c28cf284cc1589e8947c08c270570731">asked its own employees</a> to work from home in response to the coronavirus outbreak, prompting wisecracks on social media about how they will stay in touch with one another.
But while these channels are great for zapping quick messages between team members, it can be hard to build real rapport. Research shows that being <a href="https://hbr.org/2015/09/how-to-build-the-social-ties-you-need-at-work">authentic, realistic and making time</a> with colleagues is a more natural way to build effective work relationships, and this is hard to do purely online.
Team projects
So much for meetings and chats – what about actual project management? Two options already in widespread use are <a href="https://www.google.com/drive/">Google Drive</a> and <a href="https://onedrive.live.com/about/en-au/">Microsoft One Drive</a>, which allow people to upload documents to the cloud and collaborate on them in real time.
These two platforms have already become the industry standard for sharing documents. But (and you may be sensing a theme here), sometimes team discussions require face-to-face conversations or brainstorms, which can <a href="https://hbr.org/2015/04/collaborating-online-is-sometimes-better-than-face-to-face">challenging to replicate in a purely online environment</a>.
There’s no doubt that the coronavirus has struck at a time when we have more digital options than ever before, giving a wider range of employees the opportunity to work from home with minimal disruption.
But it’s also undeniable that people still need face-to-face interactions for companies to function at their best. The likes of Zoom, Slack and Google Drive will likely see an uptick in use during the epidemic, but once it’s over they should be considered complementary solutions rather than substitutions.<img src="https://counter.theconversation.com/content/133350/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;">
<a href="https://theconversation.com/profiles/geoffrey-mann-713012">Geoffrey Mann</a>, Sessional Lecturer, <a href="https://theconversation.com/institutions/rmit-university-1063">RMIT University</a>
This article is republished from <a href="http://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/working-at-home-to-avoid-coronavirus-this-tech-lets-you-almost-replicate-the-office-133350">original article</a>.
</body></html>

Working at home to avoid coronavirus, almost replicating the office

<html><body>
Data released today from the Australian Bureau of Statistics (ABS) has revealed that home loan demand surged in January 2020.
The total value of loans to owner-occupiers rose 6.1% over the month of January, while the total value of loans to investors rose 3.6% over the month.
Mortgage Choice Chief Executive Officer Susan Mitchell said, "The latest data from the ABS shows that the nation's housing market kicked off 2020 with a bang, continuing the turnaround in the second half of 2019."
"The strong growth across both owner-occupiers and investor borrowers was larger than expected. Heightened borrowing activity suggests that the ongoing growth in dwelling values is likely to persist for some time yet."
"Indeed, the latest figures from CoreLogic reveal that national dwelling values surged by 1.1% over February, with values across five of the nation's eight capital cities reaching a record-high."
"Extremely attractive home loan interest rates and more relaxed lender policy may be fuelling investor demand. We are seeing competitive pricing on longer-term fixed rate home loan products, with some lenders offering rates below 3%, which is unprecedented.
"While we can only speculate on the outlook of investors going forward, the uncertainty in both the domestic and global economy may be encouraging consumers to invest their money in stable asset classes. As the expression would suggest, investors may be choosing to park their funds in property, which is safe as houses.
"Only time will tell if the momentum will continue long-term. As the global and domestic economic outlook faces significant headwinds, property investors may park their buying plans.
Looking to the future, Ms Mitchell said while there is some uncertainty ahead, demand for property is likely to remain robust.
"Interest rates have fallen to new historic lows and may fall even further in coming months. As such, now may be a good time for buyers hoping to take advantage of competitive home loan deals to discuss their options with their local mortgage broker," concluded Ms Mitchell.
</body></html>

Home loan demand surged in January

<html><body>
The High Court of Australia HAS published its reasons for judgment allowing ASIC’s appeal from the Supreme Court of Queensland on the question of whether Michael King, the former CEO and executive director of MFS Ltd (also known as Octaviar Ltd), was an “officer” as defined in s 9 of the Corporations Act 2001(Cth) of MFS Investment Management Pty Ltd (MFSIM). 
At the relevant time, MFS Ltd was the parent company of the MFS Group of companies (MFS Group). 
MFSIM was a subsidiary in the MFS Group and acted as a responsible entity for several registered managed investment schemes, the largest of which was the Premium Income Fund (PIF). 
The court unanimously held that Michael Christodoulou King was an “officer” as defined by s 9(b)(ii) of the Act because the provision is not limited to those who hold or occupy a named office in a corporation or a recognised position with rights and duties attached to it. 
The factual findings of the primary judge that Mr King acted as the “overall boss of the MFS Group” and assumed “overall responsibility for MFSIM” were sufficient to establish that Mr King had the capacity to affect significantly the financial standing of MFSIM.
ASIC Commissioner John Price said, ‘ASIC notes today's High Court decision, which sends a clear signal to anyone running a company – in name or in effect – that they should be responsible and held accountable for their actions.’ 
‘It provides clear guidance on who is an "officer" of a corporation and establishes that the duties and responsibilities to a company, its creditors and shareholders under the Act will apply to individuals who have the capacity to significantly affect the financial standing of a company,’ Commissioner Price said.  
‘The finding that Mr King was an officer of the subsidiary MFSIM, marks the conclusion of long-running litigation which commenced in 2009 and demonstrates ASIC's commitment to pursuing difficult, long-running actions in the public interest.’
The appeal arose from civil penalty proceedings commenced by ASIC against officers and a fund manager of MFSIM in connection with the misappropriation of $147.5 million held by PIF on behalf of unit holders.  The misappropriated funds were used to pay debts owed by other entities in the MFS Group.
The appeal was unanimously allowed by Kiefel CJ, Gageler, Keane, Nettle and Gordon JJ. 
In the joint judgment handed down by Kiefel CJ, Gageler and Keane JJ, their Honours stated:  
“If the CEO of the parent company of a group of companies is allowed to act in relation to other companies in the group untrammelled by the duties that attach to officers of each of the other companies in the group, shareholders and creditors would be left exposed to an obvious risk. It would be an extraordinary state of affairs if those who actually determine the course of a company's financial affairs could avoid responsibility for their conduct by the simple expedient of deliberately eschewing any formal designation of their responsibilities. This is especially so in the present case,… to provide protection to members of managed investment schemes by imposing duties and responsibilities on the officers of responsible entities.” 
, 
</body></html>

ASIC wins MFS-Octaviar appeal in High Court

<html><body><div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
Sorrento’s Continental Hotel is back on the market, with with receivers having taken over the landmark property after repeated issues with its $100 million redevelopment.
Justice Almond of the Supreme Court of Victoria has ruled to end the Mornington Peninsula building's previous contract of sale, releasing the deposit paid by the previous purchaser to Manda Capital Holdings Pty Ltd, the first mortgage.
The 145-year-old, heritage, four-storey limestone building is the heart of the Sorrento community and has for years languished in disrepair. 
The hotel had been plagued with issues since <a href="/news/julian-gerner-to-develop-sorrentos-continental-hotel">Continental Development director Julian Gerner bought </a>it in<a href="/expert-insights/investing/sorrentos-continental-hotel-for-sale"> 2015</a>. Mr Gerner underwent a myriad of contractual issues and a failed partnership with defunct developer Steller Group. 
However, as of Wednesday, the contractual issues dogging the redevelopment of the Continental Hotel have been <a href="https://www.realestate.com.au/news/continental-hotel-sorrento-back-on-the-market/?pid=article-page%7Csource:news:article-page-bottom" target="_blank">resolved,</a> freeing up the historic landmark for a much needed revamp.
Petr Vrsecky, partner at PKF Melbourne and a receiver appointed by Manda, said the Continental Hotel is “on the market again and a “clean proposition”.
“We are pleased and relieved the matter has been brought to a head, and that we can now move forward with the sale of such an illustrious property,” he said.
“The previous contract of sale is at an end, and we welcome all expressions of interest through Colliers Real Estate.”
A historic landmark established in 1875 under the directorship of comedian, politician, philanthropist and businessman George Coppin (1819-1906), the Continental Hotel is an architecturally significant building that has been constructed in a Victorian Italianate style using locally quarried limestone.
Developed in response to the overwhelming demand for accommodation for city tourists seeking a holiday at the then growing seaside resort of Sorrento, the hotel is a great opportunity for anyone seeking to continue the tradition of an iconic venue serving one of the most prestigious and cosmopolitan communities in Victoria, all within walking distance to pristine beaches.
While it has since undergone various changes, it remains an undisputed gem of the seaside Sorrento community, situated on a prominent site at the entry to the town, and a fantastic opportunity for the right owner.
</div>
</div>
</div></body></html>

Sorrento's Continental Hotel is back on the market after $100 million redevelopment failure

<html><body>
ASIC has permanently banned Mark Goldenberg from engaging in any credit activities.
He is also banned from performing any function involved in the engaging in of credit activities (including as an officer (within the meaning of the Corporations Act 2001), manager, employee, contractor or in some other capacity).
Goldenberg was the Chief Operating Officer, General Manager, Property Analyst and sole shareholder of Superfunded Pty Ltd (Superfunded).
Superfunded operated an illegal early access to superannuation scheme in Perth, enabling people to use their superannuation savings to buy a home.
Mr Goldenberg and Superfunded engaged in credit activities but neither he, nor Superfunded, held an Australian credit licence, or were authorised credit representatives of an Australian credit licensee.
ASIC found that Mr Goldenberg contravened credit legislation and had been involved in a contravention of credit legislation. ASIC also found that it has reason to believe that Mr Goldenberg is not a fit and proper person to engage in credit activities as he does not possess the attributes necessary for engaging in credit activities.
As a result of Mr Goldenberg’s conduct and ASIC’s finding that it has reason to believe that Mr Goldenberg is not a fit and proper person to engage in credit activities, ASIC determined that Mr Goldenberg is likely to contravene credit legislation.
The banning order for Mr Goldenberg has been recorded on ASIC’s publicly available Banned and Disqualified Persons Register. 
Mr Goldenberg has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC’s decision.
The banning of Mr Mark Goldenberg follows an ASIC investigation into Superfunded.
Further ASIC action includes an application to the Federal Court, resulting in the winding up and appointment of a Liquidator to Superfunded on 12 March 2018.
ASIC had previously obtained a range of interim injunctions in the Perth Federal Court on 9 November 2017 against Superfunded, Mr Mark Goldenberg and Mr Max David Goldenberg, the sole director of Superfunded.
ASIC banned Mr Max Goldenberg from providing financial services and engaging in credit activities for a period of eight years on 8 August 2019.
Mr Mark Travis Goldenberg was permanently banned from providing financial services in May 2009.
</body></html>

ASIC bans Perth's Mark Goldenberg from credit activities

<html><body>
A Menangle home has been listed by My Property Consultants agents Greg Copeland and Tony Giouzelis with a $3,450,000 asking price. 
The <a href="https://www.realestate.com.au/property-house-nsw-menangle-132532178" target="_blank">Hawkey Road property</a> is comprised of three main buildings, with a heated in-ground pool with travertine surroundings at its centre. 
The five-bedroom, three-bathroom home features a fully self-contained granny flat with timber floors, split system air conditioning, private verandah, as well as a separate triple garage with loft, cellar, kitchenette, and bathroom that has multi-purpose potential. 
At the centre of these two blocks is the main three-bedroom double-brick residence which features wrap around verandahs and an open fireplace. 
The 27.52 hectares property also has two water tanks, a dam, bore water, and an enviro-cycle.
The DA approved sub-dividable land offers opportunities for improvements. 
The property was last sold in 2014 for $1.2 million. 
<a href="https://www.realestate.com.au/property/85-hawkey-rd-menangle-nsw-2568" target="_blank">Realestate.com.au </a>reports that the most recent five-bedroom, three-bathroom house was sold at 454 Menangle Road for $1,250,000 in May 2019. 
 
</body></html>

Homestead on Menangle acreage listed for sale

<html><body>
Australians under 25 lost over $5 million to scams in 2019 and reports made from this age group are increasing faster than older generations, according to the ACCC
In 2019, around 12,000 (7.15 per cent) reports made to Scamwatch were from people under the age of 25, an increase of 11 per cent compared to 2018 figures. Reports from this age group increased by 10 percentage points more than any other age group.
“Scammers don’t discriminate based on age and the wide range of scams reported by this age group is concerning,” ACCC Deputy Chair Delia Rickard said.
“Young people may think they are tech savvy, but scammers are adapting and we expect to see more scams on newer platforms such as Snapchat and TikTok.”
Facebook and Instagram were the most common platforms for reports and losses by those under 25, with typical scams on these platforms involving fake online stores or the sale of fake tickets to events.
Online shopping scams were the most common scams, making up more than 14 per cent of reports and almost 12 per cent of losses among people under 25.
“Almost half of the losses to people under 25 occurred through bank transfer but you should also be wary of sellers asking for payment through unusual payment methods such as gift cards or bitcoin,” Ms Rickard said.
Scammers can also target children who play online video games, such as Fortnite, by offering unlocked achievements or special items in exchange for money or gift card codes without ever transferring the item.
“By targeting children, scammers could obtain personal and banking information from the individual’s parents,” Ms Rickard said.
</body></html>

Gen Z sees fastest growing number of scam victims: ACCC

<html><body>
A Red Hill trophy home has sold for $8 million breaking the long held Canberra sale price record.
The record was actually set by the neighboring holding which sold for $7.2 million in 2010.
Woodleigh, the Mugga Way property was sold by Lynlea and Clive Rodger who'd bought the home in 2000 for $2 million. 
Built in 1980, the house sits on 7,963 sqm block.
The five bedroom, four bathroom estate has hosted the Open Gardens scheme and many musical events on its sweeping front lawns.
It was initially listed in spring 2018.
<div>
<div class="assets">
<div class="assets">
The two storey house has about 508 sqm of internal floor space, plus a tennis court, pool, and koi pond, among other features.
</div>
</div>
</div>
</body></html>

Red Hill trophy home sale breaks decade long Canberra record

<html><body>
Australian property group TOGA and partner Danias Group, have had their Marrickville development application for Wicks Place approved.

It will be the first residential project in the transformation of the Victoria Road Precinct. 
Wicks Place will deliver 272 apartments across five buildings with boutique retail, commercial spaces, and direct access to the adjacent Wicks Park.

The development will feature a range of one, two and three-bedroom apartments with extra-large terraces, green spaces and a private communal outdoor area on level one.

Wicks Place is anchored by a 2,500 sqm public precinct on the ground floor which will include a mix of retail and commercial spaces, 
CEO of Danias Holdings, Angelo Angelopoulos said, “the site provides seamless connectivity with a variety of transport options, including close proximity to the new metropolitan train line, Sydenham Station and the Victoria Road bus corridor. " 
Construction will commence in August 2020, and Wicks Place is set to be complete by late 2022. 
The Wicks Place display suite will open on 14 March 2020

<hr>
 See More: New apartments in inner-city Sydney

[smartcode_project:default project_id=5811]

[smartcode_project:default project_id=25281]
</body></html>

New Wicks Place development approved for Marrickville 

Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

<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/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe>

"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

<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/tsioMLcnjas?si=zq-ys3JuWpfa5hFv" title="YouTube video player" width="560"></iframe>

The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

[smartcode_project_cta:default project_id=102717]

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Staff reporter

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News