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The Victorian Government has extended the eviction moratorium until the end of the year. 
Evictions continue to be banned for both residential and commercial tenancies, except under certain circumstances, until 31 December 2020. Rental increases continue to be banned for the same period.
Residential tenants and landlords who struggle to reach agreement over rent reductions have access to the dispute resolution service run by Consumer Affairs Victoria for residential tenancies. The Victorian Small Business Commission offers a similar service for commercial tenancies. 
Residential and commercial tenants and landlords can also take advantage of more support, including further land tax reductions and more grant funding.
The moratorium on evictions will apply from 29 March until 31 December 2020.
Landlords cannot increase the rent between 29 March and 31 December. 
They can increase the rent after this period, but only within the terms of the lease agreement and the Residential Tenancies Act.
 
It means that tenants can’t be evicted if they are served a notice to vacate between 29 March and 31 December 2020 because you can’t pay your rent due to the impacts of coronavirus (COVID-19) on your financial situation.
This will apply for a tenant or sub-tenant:
<ul>
<li>in a residential property</li>
<li>living in a rooming house</li>
<li>in social housing</li>
<li>under a site agreement at a caravan park </li>
<li>in specialist disability accommodation.</li>
</ul>
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j.ballantyne1990-6AQqhLzZaK

COVID-19 Victorian residential eviction moratorium extended

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A former Varsity Lakes real estate agent has been fined $5,000 in the Southport Magistrates Court after charges were laid by the Office of Fair Trading (OFT).
Kylie Beecroft-Wilson, former sole director and principal licensee of Beecroft‑Wilson Real Estate Pty Ltd, pleaded guilty to operating as a real estate agent without a licence and making false representations that she held approval to supply real estate agency services for a period of time when she did not.
Mrs Beecroft-Wilson was fined $5,000. A conviction was not recorded.
The court heard that Mrs Beecroft-Wilson’s real estate agent’s licence, which she had held since February 2013, expired in December 2018 and that the licence of her company, Beecroft-Wilson Real Estate Pty Ltd, also expired in December 2018.
However, despite the expiration of these licences, Mrs Beecroft- Wilson continued to manage 11 properties for clients and operate a real estate trust account in her corporation’s name into which rent money was paid before being dispersed to owners.
Mrs Beecroft-Wilson also operated a business account into which she deposited rental commissions, management and letting fees, and she continued to advertise she represented a licensed real estate corporation on correspondence, receipts and new tenancy agreements, despite Beecroft-Wilson Real Estate Pty Ltd being deregistered by ASIC on 2 June 2019.
Mrs Beecroft-Wilson ceased trading in January 2020 when the OFT became aware that she was managing properties without a licence. The OFT appointed a receiver to manage and wind up the trust account.
In sentencing, Magistrate Mark Howden took into account Mrs Beecroft-Wilson’s early guilty plea, that there was no consumer detriment in relation to funds held in trust, and noted a fine would show that unlicensed conduct will not be accepted.
Fair Trading Executive Director Brian Bauer said Mrs Beecroft-Wilson’s continued operation of a real estate business despite the expiration of her licence and the winding up of her company presented dangers to both her and her clients.
“Large sums of money can change hands in property transactions so it is vital that agents are licensed to minimise the risk to consumers,” Mr Bauer said.
“The type of conduct demonstrated by Mrs Beecroft-Wilson risks undermining the confidence of consumers who have investments in the property industry.
“The OFT will take appropriate action against any individuals or agencies who are found to be not complying with fair trading laws.”
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No conviction recorded as former Varsity Lakes real estate agent fined $5,000 

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A Hope Island real estate agency, Hi Care Real Estate Group Pty Ltd, has been ordered to pay $1,044 in the Brisbane Magistrates Court on 17 July 2020 for failing to lodge an audit report on time with the Office of Fair Trading.
Under the Agents Financial Administration Act 2014, real estate agents have four months from the end of their audit period to lodge a report with the OFT.
The Hi Care Real Estate Group’s audit report was due in March 2019 but it was 79 days late in submitting it.
The court heard that the OFT issued Hi Care Real Estate Group Pty Ltd an infringement notice for the offence but the agency elected not to pay it and instead have the matter heard in court.
In sentencing, Magistrate Judith Daley said the licensee held public money and the trust account required stringent oversight to ensure defalcation did not occur, therefore audit reports were required to be submitted on time.
No conviction was recorded.
Fair Trading Executive Director Brian Bauer said this court action should act as a reminder to real estate agents about their legislative obligations when it came to operating a trust account.
“Reports of agents who fail to follow their trust account obligations are taken very seriously by the OFT,” Mr Bauer said.
“Audit measures are in place to ensure the integrity and accountability of the industry.
“Agents are able to get assistance from legal or financial professionals, or even the OFT if they have questions regarding the operation of their trust accounts.”
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No conviction recorded after Hi Care Real Estate fails to meet audit requirements

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A Springfield Lakes real estate agent and his company have been fined $2,500 and given a suspended sentence in the Ipswich Magistrates Court after being investigated by the Office of Fair Trading (OFT) for taking money from a trust account they were not entitled to.
Kevin Tomlinson, principal licensee and sole director of Exposure Real Estate (QLD) Pty Ltd, pleaded guilty to wrongfully transferring money from a rental trust account to his company’s expense account over a seven-month period.
The company was fined $2,500 and Mr Tomlinson was ordered to serve four months’ imprisonment, wholly suspended for two years.
The court heard that, from December 2018 to June 2019, Mr Tomlinson made a series of withdrawals totalling over $100,000 from his company’s rental trust account and used the money for a variety of business expenses including loan and lease repayments and staff wages.
Under the Property Occupations Act 2014, it is an offence to use trust money, which is money belonging to someone else, in this way. Trust money can only be released to a person who is entitled to it.
In sentencing, Magistrate Virginia Sturgess commented on the seriousness of the offending and abuse of the agent’s position of trust. She also took into account that the agent had partially repaid the money before the involvement of the OFT and that the remainder of the money had been repaid prior to being charged.
Fair Trading Executive Director Brian Bauer said the case was a reminder to real estate agents that they have a responsibility to those they represent and that trust account funds are off limits for personal or business use.
“Agents who fail to comply with their trust account obligations will incur serious penalties,” Mr Bauer said.
“Agents are able to get advice from legal and financial professionals as well as the OFT if they have questions regarding trust accounts.”
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Kevin Tomlinson, Springfield Lakes estate agent given suspended sentence for trust account irregularities

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Graeme Miller, a former financial adviser and director of Australian financial services licensee CFS Private Wealth Pty Ltd, was sentenced last month to six years’ imprisonment for misappropriating $1.865 million of client funds, following an ASIC investigation.
On 14 April 2020, Mr Miller pleaded guilty to six counts of engaging in dishonest conduct in the course of carrying on a financial services business, contrary to section 1041G of the Corporations Act 2001. The charges relate to ten clients from whom Mr Miller encouraged or facilitated the transfer of between $50,000 and $950,000 by way of an investment for the benefit of the client. Mr Miller then misappropriated those funds for his own purposes. Four counts relate to funds invested with Mr Miller through self-managed superannuation funds held by the clients.
Acting Judge Woods of the Downing Centre District Court sentenced Mr Miller to six years’ imprisonment, to be eligible for parole after serving four years.
In sentencing Mr Miller, Judge Woods described Mr Miller’s conduct as a “Ponzi scheme” involving a “significant breach of trust” and a “cruel and deceitful betrayal inevitably leading to financial disaster”.
Judge Woods also made reparation orders of approximately $1.777 million in favour of the ten clients who were the subject of the charges against Mr Miller.
Following the sentencing, ASIC Deputy Chair Daniel Crennan QC said Mr Miller has been found to have systematically breached the trust of his clients over a long period, resulting in significant losses.
‘As a financial adviser Mr Miller ought to have protected the interests of his clients. His sentencing should send a strong message that such conduct will lead to individuals involved being brought before the court to face criminal charges.’
The Commonwealth Director of Public Prosecutions prosecuted the matter after a referral from ASIC.
<h2>Background</h2>
Between July 2013 and April 2017, Mr Miller, of Myocum, New South Wales, advised his financial planning clients to invest funds with CFS Corporation Pty Ltd (CFS), of which he was also a director, on the basis that CFS would invest the money. Mr Miller did not invest the funds given to CFS by those clients, instead he used the funds for his own benefit and to meet business expenses, including payments made to other clients as dividend payments.
Of the $1.865 million of client funds that were misappropriated by Mr Miller:
<ul>
<li>$987,000 was transferred to bank accounts and credit cards held by Mr Miller and his family members;</li>
<li>$318,500 was used to pay dividends, interest or return of capital to other clients in relation to their investments with Mr Miller;</li>
<li>$135,000 was used to pay other personal and business expenses; and</li>
<li>$27,000 was withdrawn in cash or transferred overseas.</li>
</ul>
In January 2019, the Federal Court banned Mr Miller from providing financial services for 25 years, and disqualified him from managing corporations for three years (19-009MR).
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Former financial adviser Graeme Miller sentenced to six years’ imprisonment for dishonest conduct

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ASIC has successfully applied to the Federal Court of Australia for urgent interim orders against NSW-based PW Kitt Co Pty Ltd and its sole director Larry Dawson.
On 7 August 2020, ASIC obtained urgent interim orders:
<ul>
<li>to appoint receivers and managers to the property and assets of the defendants;</li>
<li>for the receivers to provide a report to the Court and ASIC within 42 days regarding the affairs of the defendants;</li>
<li>to stop the defendants from removing, dealing with or diminishing the value of property or assets, including funds in bank accounts held by the defendants; and</li>
<li>to restrain Mr Dawson from leaving Australia.</li>
</ul>
ASIC’s application was based on concerns that the defendants obtained almost $7 million in Australian investor funds by cold-calling Australian consumers and operating the websites smsfadvisory.com and pwkittco.com.
ASIC submitted to the Court that the defendants were using the same or substantially similar company and business names to an unrelated business SMSF Advisory Services Pty Ltd and P.W. Kitt &amp; Co.  
It is also alleged that the defendants used the Australian financial services (AFS) licence number of another company.  
ASIC remains concerned that the defendants appear to have no connection with those businesses and hold no licence or authority to deal in financial products or provide financial services.
Michael John Hill, Anthony Norman Connelly and Katherine Sozou of McGrathNicol have been appointed as receivers and managers to the property and assets of the defendants.
The receivers are required to report back to the Court concerning the affairs of the defendants by 18 September 2020.
Any person who is concerned that they have invested with the defendants or SMSF Advisory Services Pty Ltd should contact Patrick Cashman of McGrathNichol on (07) 3333 9800.
ASIC commenced this investigation as part of its response to the increase in financial scam activity arising during the COVID-19 pandemic. This action demonstrates ASIC’s readiness to take urgent action to protect vulnerable consumers in the current environment.
The matter will return before the Court on 27 August 2020. ASIC’s investigation is ongoing.
The case management hearing listed for 27 August 2020 has been adjourned to 10 September 2020.
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ASIC obtains interim injunctions against Larry Dawson and PW Kitt Co Pty Ltd

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ASIC has cancelled, or imposed conditions on, the registration of a number of auditors of self-managed superannuation funds (SMSFs) who had not maintained an appropriate level of audit experience.
Following a recent review, 36 SMSF auditor registrations have been cancelled and conditions have been imposed on a further six SMSF auditors.
All of the 42 SMSF auditors against whom ASIC acted had not issued any SMSF audit reports over the past five years and thus were not considered to have the necessary practical experience required to perform SMSF audits.
In relation to the six auditors who had conditions imposed on them, ASIC was satisfied that it would be an appropriate alternative to cancellation considering the auditor’s individual circumstances and other relevant (non-SMSF audit) experience. The various conditions imposed across these auditors were:
<ul>
<li>
Independent reviews – Having a number of audits reviewed by an independent SMSF auditor for compliance with auditing standards;</li>
<li>
Education – Completing specific courses of study, including in audit and fund compliance requirements under the Superannuation Industry (Supervision) Act 1993 (SIS Act) compliance; and</li>
<li>
ASIC exam – Sitting and passing ASIC’s SMSF auditor competency exam prior to issuing any SMSF audit reports.</li>
</ul>
From 1 July 2013, the SIS Act required all auditors of SMSFs to be registered with ASIC. This was to ensure that all SMSF auditors meet at least base standards of competency and expertise.
ASIC and the Australian Taxation Office (ATO) work closely together as co-regulators of SMSF auditors. The ATO monitors SMSF auditor conduct and may refer matters to ASIC for possible action in ASIC’s capacity as the review body that determines whether to disqualify an auditor or cancel or suspend their registration. ASIC may also impose conditions on an SMSF auditor.
Section 123E of the SIS Act allows the cancellation of the registration of an SMSF auditor who no longer has the practical experience required to perform SMSF audits.
Approved SMSF auditors seeking to cancel their registration voluntarily can do so through the ASIC Regulatory Portal.
Further information can be found on ASIC's website and in ASIC Regulatory Guide RG 243 Registration of self-managed superannuation fund auditors (RG 243).
SMSF trustees and members can check whether their auditor is registered, or whether a person has been disqualified, by searching ASIC's SMSF Auditor register.
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ASIC cancels registration of self-managed superannuation funds auditors

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ASIC has today commenced civil penalty proceedings in the Federal Court against Asgard Capital Management Limited for charging adviser fees to 404 customers for financial advice that was not provided and also against Asgard and BT Funds Management Limited (BT) for making misleading representations in half-yearly or annual account statements regarding the charging of the adviser fees.
ASIC alleges that from September 2014 to August 2017:
<ul>
<li>Asgard charged customers around $130,006 for financial advice after requests were made for customers’ financial advisers to be removed from their product accounts and after the advisers ceased providing advice;</li>
<li>In relation to superannuation products for which it is trustee, BT issued account statements which appeared to show that  adviser fees were no longer being charged  while the ‘adviser fee’ line item was removed from the account statement, an amount equal to that fee was added to the administration fee amount;</li>
<li>In relation to an investor directed portfolio service (IDPS) for which it is the issuer, Asgard issued account statements which appeared to show that adviser fees were no longer being charged  while the ‘adviser fee’ line item was removed from the account statement, an amount equal to that fee was added to the administration fee amount;</li>
<li>The wrongly charged fees were retained by Asgard as revenue; and</li>
<li>Asgard contravened its overarching obligations as an Australian financial services (AFS) license holder to act efficiently, honestly and fairly.</li>
</ul>
ASIC Deputy Chair Daniel Crennan QC said, ‘Today, ASIC has commenced a ‘fees for no service’ case against BT and Asgard as well as commencing a ‘fees for no service’ case against StatePlus Super. Both cases, which relate to superannuation, were subject to cases studies in the Royal Commission, were investigated by ASIC’s Office of Enforcement and have been brought by ASIC to the Federal Court for determination.’
ASIC is seeking declarations and pecuniary penalties from the Federal Court to prevent similar contraventions occurring in the future.
<h2>Download</h2>
Concise statement
Originating process 
<h2>Background</h2>
BT and Asgard are part of the Westpac Group. 
BT is the trustee and RSE licensee for:
<ul>
<li>Asgard Infinity eWRAP Pension Account;</li>
<li>Asgard Infinity eWRAP Super Account;</li>
<li>Asgard Open eWRAP Pension Account;</li>
<li>Asgard Open eWRAP Super Account;</li>
<li>Asgard Rollover Service;</li>
<li>Asgard Superannuation Account; and</li>
<li>Asgard Employee Superannuation Account (Super Funds). </li>
</ul>
Asgard is the custodian and administrator for the Super Funds, as well as the issuer and administrator for the Asgard Infinity eWRAP Investment Account (IDPS product). 
BT and Asgard’s conduct were the subject of a case study by the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry – see Volume 2 (part 13) of the Final Report.
The Royal Commission found that between 2001 and August 2017, BT and Asgard charged around 767 members fees for financial product advice that was not provided. Between December 2017 and March 2018, Westpac remediated $634,490 to the members.
ASIC’s action is in respect of the conduct that occurred within the last six years, being within the limitation of the action period.
This is the fourth enforcement action commenced by ASIC concerning Fees for no service activity. In September 2018, ASIC commenced proceedings in the Federal Court of Australia against two entities in NAB’s wealth management division, NULIS Nominees (Australia) Limited (NULIS) and MLC Nominees Pty Ltd (MLC Nominees). The court proceedings relate to fees charged by both entities to a significant number of their superannuation members for services not provided. The hearing has concluded and judgment in these proceedings on liability and penalty has been reserved (18-259MR).
In December 2019, ASIC commenced civil penalty proceedings in the Federal Court against National Australia Bank Limited (NAB) for alleged contraventions of the ASIC Act and the Corporations Act for FFNS activity. These proceedings are being case managed by the court to trial, a date is yet to be scheduled (19-360MR).
In August 2020, ASIC commenced civil penalty proceedings in the Federal Court against State Super Financial Services Australia Limited (StatePlus) for charging at least 36,592 clients members fees for financial advice that was not provided (20-189MR).
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ASIC commences civil penalty proceedings against Asgard Capital Management 

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Former Sydney financial adviser, Sam Henderson, has pleaded guilty to one ‘rolled up’ charge of dishonest conduct, and two counts of making a disclosure document available to a person knowing it to be defective.
ASIC alleged that Mr Henderson, between 1 July 2010 and November 2017, whilst the chief executive officer, director and senior financial adviser of Henderson Maxwell, engaged in dishonest conduct when he made false representations that he had a Master of Commerce when he did not hold that qualification:
<ol type="1" start="1">
<li>in 115 PowerPoint presentations he gave to prospective clients from 2010 to 2016;</li>
<li>on the Henderson Maxwell website from October 2012 to August 2016; and</li>
<li>in Henderson Maxwell brochures distributed between 2013 and 2017 and in an Information Memorandum dated May 2011 (20-130MR).</li>
</ol>
Henderson Maxwell and Mr Henderson were the subjects of a bad advice case study in the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry - see Volume 2 (p 242) of the Final Report.
In July 2019, ASIC banned Mr Henderson from providing financial services for a period of three years (19-190MR). It was found that Mr Henderson failed to act in the best interests of his clients, provide appropriate advice and prioritise his clients’ interests when providing personal financial advice.
A dishonest conduct offence under s1041G of the Corporations Act 2001 (Cth) carries a maximum penalty in the local court of two years’ imprisonment or a fine not exceeding 120 penalty units, or both.
ASIC also alleged Mr Henderson breached s952D(2)(a)(ii) in 2014 and 2016 by giving two clients a Financial Services Guide, containing the false representation that he held a Master of Commerce (Financial Planning).
Each defective disclosure offence under s952D(2)(a)(ii) Corporations Act carries a maximum penalty in the local court of 12 months’ imprisonment or a fine not exceeding 60 penalty units, or both.
In addition to the above, ASIC alleged that Mr Henderson made the false representation that he held a Master of Commerce in:
<ol>
<li>a book titled ‘One-Page Financial Plan: Everything you need to successfully manage your money and invest for wealth creation’ authored by Mr Henderson and published in 2013;</li>
<li>an interview conducted by a freelance writer, and a subsequent marketing profile prepared on Mr Henderson to promote the Sydney Graduate School of Management (SGSM) Master of Commerce (Financial Planning) course; and</li>
<li>some of Mr Henderson’s professional biographies and descriptions.</li>
</ol>
Mr Henderson will be sentenced in the Downing Centre Local Court on 13 October 2020.
The matter is being prosecuted by the Commonwealth Director of Public Prosecutions, following a referral of a brief of evidence from ASIC.
Moneysmart.gov.au has useful information for consumers about choosing a financial adviser, including how to complain about a financial adviser and what to do if their adviser is banned.
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Financial adviser Sam Henderson pleads guilty to dishonest conduct over his academic qualifications 

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There has been a $20 million-plus sale of a Mosman trophy home, which was reportedly rented by international superstars David and Victoria Beckham when they came to Sydney in 2018 for the Invictus Games.
The home sold just 72 hours after it came to market.
The Mosman residence designed by architect Alex Popov was sold by childcare mogul Brendan McAssey.
It was being offered off market to buyers in recent months after McAssey and his wife Elizabeth decided to move to the Southern Highlands.
The last time the four-bedroom home on 849sqm at <a href="https://www.realestate.com.au/sold/property-house-nsw-mosman-134256882" target="_blank">26 Plunkett Rd</a> sold it took 143 days marketing to find its 2016 buyer.
It was sold by the founder of the Only About Children childcare company Brendan McAssey, who paid $17,349,691 in 2016.
The price guide before this week's sale was $20 million to $22 million.
 
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David and Victoria Beckham's Mosman rental sold

Lewis Land's latest apartment release within its <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan is targeting one of the Gold Coast's fastest-growing buyer groups, with almost a third of apartments at Solis priced below $1 million.

The seven-storey building at Biggera Waters will comprise 91 apartments, including 24 one-bedroom residences starting from $778,000, a price point Lewis Land says is aimed squarely at first home buyers struggling to enter the Gold Coast market.

<img alt="Harbour Shires" data-entity-type="file" data-entity-uuid="e7486e37-22f6-4c92-b212-9b0622070b8f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.34%E2%80%AFAM.png?VersionId=W8MJwJUCf6HkIyl_EVSksnd.QI6MZryY" />

<a href="https://www.apartments.com.au/developers/lewis-land-group">Lewis Land</a> Head of Development Michael Long said the developer deliberately allocated a significant proportion of the project to more affordable apartment types.

"First home buyers have been priced out of many parts of the Gold Coast, and we saw a clear opportunity to address this and play our part in a longer-term housing solution," Long said.

"That's why 24 of the 91 apartments being delivered at Solis have been designed and priced for the city's next generation of homeowners, quality one-bedroom apartments, half of which include an additional multipurpose room to maximise space and flexibility.

"This approach places 30 per cent of apartments in Solis under $1 million, and with close proximity to Harbour Town's future light rail extension connecting residents to the city's major employment and knowledge hubs, it's a win for buyers looking to secure their first property."

<img alt="Sores" data-entity-type="file" data-entity-uuid="550526d3-73ba-4710-9739-c5f4294a30ef" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.29%E2%80%AFAM.png?VersionId=cQQdXHt9wS0UXwZEm5Py5bH_3kAmzyhu" />

Designed by BDA Architecture, Solis will deliver a mix of one, two and three-bedroom apartments, with residences ranging up to 232 sqm. Apartments feature generous balconies and contemporary finishes, while residents will have access to Harbour Shores' lagoon pool, clubhouse, tennis court, gym, yoga studio and sauna.

The focus on first home buyers resonated with purchaser Holly Humphreys, who said she and her boyfriend spent more than a year searching for their first property before shifting their attention from houses to apartments.

"We fell in love with the first house we bid on and got our hopes up, but after repeated knockbacks we learned not to get too attached," Humphreys said.

"We offered at the high end of price guides, but sales kept going even higher. That's where we really struggled and we needed to re-evaluate our budget and our expectations. Standalone houses were off the table, and we pivoted to apartments and townhouses."

Humphreys said it was encouraging to see developers recognising the growing demand from first home buyers.

"There's a growing number of young buyers looking to enter the market earlier because they understand that getting in now can make a real difference as prices continue to rise," she said.

"It's fantastic to see a developer recognise this and then actively take measures to deliver an apartment with us in mind."

Solis is the first development planned within the second stage of the Harbour Shores masterplan, with early works expected to commence in September 2026.

[smartcode_project_cta:default project_id=113271]

Joel Robinson

Lewis Land targets first home buyers at latest Harbour Shores release, Solis

Luxury apartment developer Abadeen has recorded $19.25 million in apartment sales across two of its Lower North Shore developments in the lead-up to the end of the financial year, headlined by the sale of a $6.75 million penthouse at <a href="https://www.apartments.com.au/buildings/koyo-crows-nest-5-rodborough-avenue-crows-nest-nsw-2065">KOYO in Crows Nest.</a>

The transactions also included the sale of a newly completed three-bedroom apartment at <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences in Cremorne</a> for $6.35 million, with the residence selling shortly after the project's first public inspections following completion.

The sales come as completed, owner-occupier-focused apartments continue to attract strong demand across Sydney's Lower North Shore, particularly from buyers looking for certainty and immediate occupancy.

The penthouse at KOYO spans 491 sqm across a single level and was designed by architect Koichi Takada. The development is one of Abadeen's flagship boutique projects in Crows Nest.

[smartcode_project:default project_id=108800 project_image_fid=370093]

Abadeen Executive Chairman and Founder Justin Brown said buyer activity lifted noticeably in the lead-up to the end of the financial year.

"We saw a clear increase in enquiry levels, inspection numbers and buyer engagement across our completed projects leading into the end of the financial year," Brown said.

"Buyers have become far more decisive over the past six months. The combination of improving confidence, limited supply and the ability to physically inspect completed residences is creating strong competition for premium apartments in the best locations."

Brown says the&nbsp;response to Park Residences following completion has been particularly strong.

"Buyers want certainty and are responding positively to the opportunity to walk through a finished product, inspect the quality firsthand and move in immediately," Brown suggested.

"Projects such as Park Residences and KOYO demonstrate that when the product is exceptional and the location is irreplaceable, buyers are prepared to act quickly."

[smartcode_project:default project_id=114246 project_image_fid=370116]

Abadeen CEO Joe Tack said quality continued to differentiate projects in the current market.

"Today's buyers are incredibly discerning," Tack said.

"They are seeking larger floorplans, premium finishes, walkability, lifestyle amenity and confidence in the developer delivering the project. Well-designed boutique developments continue to outperform because they offer something genuinely difficult to replace.

"The enquiry we are seeing across our completed and recently completed Lower North Shore portfolio is very encouraging, and we expect this momentum to continue into spring."

The sales follow increased enquiry across Abadeen's Lower North Shore portfolio which also includes <a href="https://www.apartments.com.au/buildings/northcote-collective-naremburn-2-northcote-street-naremburn-nsw-2065">Northcote Collective in Naremburn</a> which also completed recently.

KOYO penthouse headlines Abadeen's $19.25 million EOFY sales flurry

The City of Sydney has approved plans for <a href="https://www.apartments.com.au/developers/billbergia">Billbergia Group</a> and Metrics Credit Partners’ $3.5 billion Castlereagh Place project in the heart of the Sydney CBD

The towers will be among the tallest in <a href="https://www.apartments.com.au/developments/sydney-nsw-2000">Sydney</a>'s CBD, with more floors than any other residential tower in the city.&nbsp;

The 6,000 sqm site was acquired by the joint venture partners in 2024. It is the largest amalgamated land parcel in the Sydney CBD and comprises eight individual sites fronting Castlereagh, Pitt and Liverpool Streets.&nbsp;

<a href="https://www.apartments.com.au/new-apartments/castlereagh-place-sydney-324-348-pitt-street-sydney-nsw-2000">Castlereagh Place</a> will transform an underutilised city block into a landmark mixed-use destination, anchored by two 82-storey towers comprising 607 luxury residences above an 8-level podium housing a 209-room luxury hotel. A 1,000 square metre civic park on ground level features a curated mix of food, beverage and retail.

The plans have been refined over the past year to rebalance the residential and hotel offering, and reconfigure the retail footprint to create a stronger, more dynamic dining experience.

A three-level flagship building on the prominent corner of Pitt and Liverpool Streets will be the gateway to the Castlereagh Place lifestyle precinct. Set to become a Sydney icon, the building is capable of housing multiple hospitality venues.

“Castlereagh Place is designed to be the City's next great urban oasis - an energetic mixed-use precinct that pulses with life, day and night,"&nbsp;said Joseph Kinsella, Group Director of Billbergia.

"It will bring the vibrancy of places like Barangaroo and Darling Quarter into a more accessible, central destination at the very heart of Sydney."

Kinsella said the project will build on&nbsp;Sydney’s growing laneway culture with the City’s largest network of new activated lanes - an expanded, next-generation take on precincts like Angel Place, Palings Lane and Ash Street in Wynyard.

[smartcode_project:default project_id=134477 project_image_fid=374401]

Castlereagh Place has been designed by architects <a href="https://www.apartments.com.au/architects/fjc-studio">fjcstudio</a> in collaboration with Trias Studio, Aileen Sage and Polly Harbison Design, joint winners of an international design competition in 2018.&nbsp;

Signature design elements from the original scheme remain unchanged, while the public domain has been significantly enhanced, delivering 60 per cent more open-to-sky space.

Pedestrian access will also be enhanced through new laneways linking Pitt, Liverpool and Castlereagh Streets, drawing people into a new civic park with outdoor seating, landscaping and integrated public art.

With activated laneways supported by strong hospitality offerings, Castlereagh Place is tipped to become a vibrant new dining destination in the heart of Sydney’s CBD.

It marks the largest undertaking to date for the Billbergia and Metrics Credit Partners partnership. Together they are developing other underutilised Sydney sites into mixed-use precincts, including the $2.2 billion Concord Central and the $1.3 billion Chatswood Grand Residences.

Metrics Managing Partner and Group CEO Andrew Lockhart said Castlereagh Place is a landmark project that will redefine Sydney’s skyline.

"As the tallest residential high-rise development, the revitalised site will offer panoramic views across the CBD and surrounds. We are excited to partner with Billbergia to reinvigorate an underutilised site and create a sophisticated and contemporary mixed-use offering situated in the heart of Sydney.”

Total apartments within the towers have increased to 607 dwellings, with a focus on larger floorplans. Aligned to growing market demand, Castlereagh Place now comprises 299 three-plus-bedroom apartments, 198 two-bedroom units and 110 one-bedroom configurations.

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Resident amenities will include an exclusive residents club containing a gym, rooftop pool, dining rooms, co-working spaces, library, golf simulator, games room, cinema room, and access to an exclusive concierge service. There will be around 500 basement car spaces below the towers.

The development will also include a state-of-the-art wellness centre, set to feature a bathhouse with magnesium pools, hot/cold plunge pools and premium amenities.

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According to fjcstudio, the towers will feature distinctive yet elegant architectural design reflecting Sydney’s geometry and urban character, with a network of through-site links and intimate public spaces activating the streetscape.

"Castlereagh Place is a city-making project of significant scale and ambition," said Richard Francis-Jones, Design Director at fjcstudio.

"It will create a rich urban complex of public open spaces, landscaped gardens, and vibrant laneways. Defining these new public spaces and the important streetscape of Castlereagh Street is a sequence of fine-grained, diverse retail and hotel architecture designed in collaboration with Aileen Sage, Polly Harbison Design and Trias.

“Rising above the tree-lined, human-scale streetscape are two slender residential towers that will transform the city skyline and look towards the Harbour, Hyde Park, and the Royal Botanic Garden.”

Demolition and early construction works have commenced onsite at Castlereagh Place.

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Billbergia, Metrics, approved for $3.5 billion Sydney skyscrapers

International developer&nbsp;<a href="https://www.apartments.com.au/developers/spg-land">SPG Land</a> is preparing to re-launch its long-awaited $1.5 billion <a href="https://www.apartments.com.au/new-apartments/paradiso-place-surfers-paradise-103-ferny-avenue-surfers-paradise-qld-4217">Paradiso Place</a> development at Budds Beach, bringing a new price point to the Surfers Paradise apartment market.

The developer will release one-bedroom apartments from $825,000 and two-bedroom apartments from $1.24 million in the three-tower development.

According to Urbis, the starting price for the two-bedroom apartments is more than $400,000 below the weighted average sale price for comparable two-bedroom apartments in Surfers Paradise during 2025, which was pinned at $1.7 million.

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Urbis reported quarterly average sale prices for new two-bedroom, two-bathroom apartments ranged from around $1.2 million to $1.7 million throughout 2025, peaking in the December quarter.

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Paradiso Place is now moving into its formal sales campaign, with a limited early-release opportunity available ahead of the public launch.

The development will comprise 845 apartments across three towers rising 40, 41 and 44 storeys from a 1.15-hectare site spanning an entire city block. The towers will sit above a new retail precinct.

"Paradiso Place represents a rare opportunity in today's market, offering premium apartments at a price point that is significantly more competitive than anything else currently available," SPG Land Sales Director Brad McMahon said.

"When you look at comparable new developments across Surfers Paradise, Main Beach and the Southern Beaches precinct, buyers are typically paying hundreds of thousands more for a similar product.

"The scale of this project and the developer-builder construction model allows us to unlock efficiencies that smaller developments simply cannot achieve. We are passing those benefits directly to buyers, while still delivering a five-star residential experience with an unmatched lifestyle."

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Each of the three towers designed by Rothelowman will have its own podium, connected by an elevated skybridge network to create a beachside village for residents. The resident amenity has been designed to rival a five-star hotel, with private dining rooms, resident lounges and entertainment spaces.

McMahon said the pricing strategy was a deliberate response to the current market.

"What Paradiso Place offers is a unique balance, genuine value within a premium market. Buyers are not compromising on quality, design or amenity, they are gaining access to it at a more competitive price point at a time when prices across the Gold Coast continue to reach new highs."

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Located around 100 metres from the beach and within walking distance of the Surfers Paradise North light rail station, Paradiso Place occupies one of the Gold Coast's most tightly held beachfront precincts.

Construction is continuing to progress, with eight of the project's 112 foundation piles now complete. Excavation has also commenced on the first diaphragm wall panel, with the first concrete poured on 15 June, marking a key milestone in the project's early works program.

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SPG Land launches $1.5 billion Paradiso Place at attractive price point

Luxury developer-builder <a href="https://www.apartments.com.au/developers/lowe-living">Lowe Living</a> has achieved a new Victorian benchmark for an off-the-plan apartment, with the sale of two penthouses at its ultra-exclusive Maison Savoy development in Brighton.

The two penthouses achieved a combined sale rate of $49,926 per sqm. Both transactions eclipsed the previous identified Victorian off-the-plan price-per-square-metre benchmark, set by the 449 sqm apartment at Como Toorak, which sold at $46,659 per sqm.

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<a href="https://www.apartments.com.au/new-apartments/maison-savoy-brighton-150-esplanade-brighton-vic-3186">Maison Savoy</a>, Lowe Living's redevelopment of the former Brighton Savoy Hotel on absolute beachfront land at 150 The Esplanade, Brighton, has gained significant momentum since launching just eight weeks ago. Around 30 per cent of the project's 19 residences have already been secured, generating approximately $45 million in sales.

"Securing two of the three penthouse sales at this stage, within eight weeks of launching to market speaks to the confidence our clients place in Lowe Living," Lowe Living co-founder Emma Lowe said.

"They know we'll be with them through every stage of the journey, and that assurance is something we've worked hard to earn and never take for granted."

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Lowe said Maison Savoy was conceived as a genuine alternative to a prestige Brighton home, combining house-scale proportions with the convenience, security and lock-up-and-leave appeal of apartment living.

Lowe Living co-founder Tim Lowe said the early sales success demonstrated the resilience of Melbourne's prestige market and highlighted the growing demand for house-sized apartments among ultra-high-net-worth buyers.

"The Melbourne market has definitely been tested in recent years, with interest rates and global economic factors all creating a period of uncertainty across the real estate sector. The sales success at Maison Savoy however demonstrates that confidence remains exceptionally strong at the top end of the market.

"The prestige market is being driven by long-term lifestyle decisions rather than short-term market sentiment, which continues to create a level of certainty that befits an absolute beachfront property in a blue-chip location like Brighton.

"Brighton's fundamentals remain among the strongest in Melbourne, with limited new supply, enduring demand from an overwhelmingly local owner-occupier market, and a rare combination of beachfront amenity and proximity to the CBD."

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According to Cotality, Brighton remains one of Melbourne's most tightly held prestige suburbs, with an average ownership tenure of 15.3 years for houses and 12.3 years for units, while more than 73 per cent of homes are owner-occupied.

Tim Lowe said selling two of the project's three penthouses so early in the campaign was an uncommon result.

"This sales result is a reflection of quality and understanding the local market. It's incredibly rare to transact the penthouses so early in a sales campaign in any project so to have sold two of the three penthouses at Maison Savoy so soon after launch, all in-house without any external sales agency appointed, is reflective of our careful consideration of our buyers' needs and lifestyle.

"This is knowledge that is accumulated not just from data and demographic analysis, but via a deeply embedded understanding of how this type of buyer wants to live and feel in their home. We pride ourselves on getting to know our clients personally, and over the last 10 years we have been able to refine our product offering by talking one-on-one with our clients about their design and floorplan preferences.

"Being a fully integrated developer-builder with an in-house design and sales team allows us to lead every part of the process and ensure the highest quality of product and service at every touchpoint. It's a really important part of our DNA and the recent sales success at Maison Savoy indicates that our clients and purchasers are resonating with this point of difference.

"It reinforces that demand remains strong for thoughtfully designed residences that offer rarity, lifestyle and long-term value in tightly held locations, which ultimately validates Maison Savoy's positioning as creating a new benchmark for house-scale, wellness-led apartment living on Brighton's beachfront."

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The residences at Maison Savoy start from 295 sqm, with most enjoying uninterrupted views across Port Phillip Bay. The project sits moments from the Brighton Bathing Boxes, Royal Brighton Yacht Club, Middle Brighton Baths and Church Street's retail and dining precinct.

A key feature of the development is its private residents-only bathhouse, curated by the founder of Aurora Spa &amp; Bathhouse and modelled on traditional European bathing rituals and the award-winning Sorrento bathhouse.

The wellness offering includes a hydrotherapy pool, salt room, sauna, steam room, cold plunge pool, foot activation zone and a Vichy rainfall bed, one of only a handful in Australia. Residents will also have access to a Technogym studio, lounge spaces and a dedicated concierge service offering everything from morning coffee delivery and restaurant bookings to dry cleaning and home coordination.

"Wellness-led design has become a defining factor for luxury buyers," Emma Lowe said.

"Purchasers increasingly value homes that enhance wellbeing through thoughtful design, private amenity, privacy and liveability."

The penthouse purchasers are now undertaking a bespoke customisation process curated personally by architect Pete Kennon and the Lowe Living team, one of the developer's signature service offerings.

Construction on the $160 million transformation of the former Brighton Savoy Hotel site commenced last month, with completion expected in early 2028. The project has secured funding from NAB alongside development partner Monark.

Just one penthouse remains available, along with a limited number of two and three-bedroom residences starting from $3.75 million.

Lowe Living currently has eight projects on the market across Melbourne and recently celebrated its 10th anniversary, having grown a $1 billion development pipeline alongside a $350 million construction pipeline.

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