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The redundant Potts Point apartment of printing magnate Michael Hannan has sold for a building record $6,025,000.
The fourth level 2000 built block cost Hannan $4.85 million in 2015, reflecting over seven percent annual price growth.
Spanning 280 sqm, the apartment has has three bedrooms and three bathrooms, plus a loggia style space adjoining the outdoor terracing.
Hannan, a non executive director at PMP, has recently upgraded to the $8,325,000 duplex penthouse crowning the Ikon building up the street.
The three bedroom apartment spans 340 sqm of living space with 95 sqm of terraces. It was bought from New York-based private equity boss Leonard Harlan and wife Fleur.
This article was first published in the Saturday Daily Telegraph. 
 
 
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j.ballantyne1990-6AQqhLzZaK

Printer Michael Hannan upgrades in Potts Point

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All but two of Melbourne’s 31 metropolitan councils are increasing rates next financial year by an average of 2.25 per cent, according to the Herald Sun.
Monash wants to bust the cap, pushing for a 3.53 per cent rise in rates unless it can introduce a new waste charge to deal with the recycling crisis.
China's ban on some recycling imports, including those from Australia, is behind the desire.
Victoria previously exported the majority of its recycling to China, where it was processed and used to fuel factories.
Major recycling companies including Visy, SKM and Polytrade would pay councils about $60 to $70 a tonne for the contents of residents' yellow bins and sell it to China at a higher price.
Now unable to do that, it is understood recycling companies plan to charge councils about $60 a tonne to take the material.
The Glen Waverley-based Monash council is one of a few that doesn’t currently have a separate rubbish levy.
The usual annual rate rise is mandated to be a maximum of 2.25 per cent, but waste charges are excluded from that cap.
Nillumbik will increase rates by an average of only 1.95 per cent. Mayor Peter Clarke, who froze rates last year, has been a long-time critic of council budgeting practices.
Several councils are also increasing their waste levies in the wake of the China recycling crisis. Bayside is proposing a 40 per cent, or $92.75 rise, to $324.55.
The paper suggests thousands of Victorian households will be hit with bigger-than-expected rate rises when notices go out next month.
Despite the state government cap of an average 2.25 per cent, high property revaluations will push up rates for many families above that limit, with estimated annual increases of up to $100 likely.
In the City of Melbourne, 57 per cent of ratepayers will pay more than the cap, with households in East Melbourne and Kensington hit hardest because of rising property values.
CBD and Docklands residents can expect their bills to be level with the cap or below, Deputy Lord Mayor Arron Wood said.
Ratepayers Victoria wants independent financial monitors to check on councils’ finances and the rates they charge.
Spokesman Frank Sullivan told The Herald Sun rate increases should not be automatic and the monitors would see if ratepayers’ money was used wisely.
In Stonnington, chief exec­utive Warren Roberts confirmed that almost one in three homes would receive a general rate rise above 2.25 per cent.
“The average residential rate increase is approximately $31 for the year, or 60 cents per week,’’ he said.
In Port Phillip, mayor Bernadene Voss said 28 per cent of ratepayers would receive an above-cap bill.
In Hume, in Melbourne’s outer north, about two-thirds would pay more.
In the outer-eastern Yarra Ranges, 58 per cent will pay above the cap, while in Hobsons Bay the figure is 68 per cent.
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Melbourne council rates set to rise

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Brisbane's weekend clearance rate sat at 50 percent.
Its top weekend sale was a <a id="x_mcntLPlnk575404" href="https://www.realestate.com.au/property-house-qld-teneriffe-128312478" target="_blank">five bedroom Teneriffe offering</a>, Riverview that fetched $4,405,000.
There were seven registered bidders at the Sunday afternoon auction through McGrath agent Henry Hodge.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/4/bris2.jpg" alt="">
It last sold in 2007 at $3.4 million.
The Teneriffe Drive home was on a 700 sq m holding.
It was Teneriffe’s highest sale for a non-riverfront property in the past 12 years, Hodge said.
Nearby 61 Teneriffe Drive sold at $4.6 million in 2006.
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$4.4 million Riverview, Teneriffe Queensland sale

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Set on 70 acres over three titles in the Blue Mountains, a Mount Wilson three bedroom house on a garden estate with valley views has been listed for sale. 
The 14 Church Lane offering was listed by Brenton Gadsby from BradfieldCleary Double Bay.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/31/mount%20wilson%202.jpg" alt="">
<a href="https://www.realestate.com.au/property-house-nsw-mount+wilson-128327470" target="_blank">Located at 8-14 Church Lane</a>, Mount Wilson, it comes with two lots with an 'Alice in Wonderland' style garden and one bush block. 
The gardens include a separate cedarwood Tea House.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/31/mount%20wilson%203.jpg" alt="">
The house features three bedrooms, vast living areas, outdoor terraces and four car garage.
It offers a range of exciting possibilities for a multitude of uses - as a private family estate or for commercial enterprises.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/31/mount%20wilson%204.jpg" alt="">
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Mount Wilson garden estate with valley views hits the market

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<div>The top weekend auction offering was a trophy home at Bellevue Hill. </div>
<div title="Page 1">
<div>
It was sold, at an undisclosed price, after being passed in at $16.2 million through The Agency agent Ben Collier at its onsite auction.
The home of UniLodge student accomodation company founder Jane Hewitt and husband, Mariner Securities director Gary Symons, had been listed with $15 million hopes.
They paid $11.71 million for the six bedroom Drumalbyn Road home (above) in 2013 when buying from APN News and Media chairman Peter Cosgrove.
<a href="https://www.realestate.com.au/property-house-nsw-bellevue+hill-128298906" target="_blank">The contemporary home</a> with Mediterranean overtones sits on 1415 square metres with a heated Peter Glass swimming pool.
The Agency's Ben Collier had the auction listing.
<div>Sydney's preliminary clearance rate fell to 52.3 per cent, down on last weekend’s final clearance rate of 56.1 per cent.</div>
<div> </div>
<div>"As results are collected it will be interesting to see if the final clearance rate will remain above 50 per cent," CoreLogic auction analyst Kevin Brogan said.</div>
<div> </div>
<div>The last time Sydney’s clearance rate fell below 50 per cent was between late 2010 and 2012 as the market moved through a downturn. </div>
<div title="Page 1">
The first week of winter saw 2,272 auctions across the capital cities, with the market returning a preliminary clearance rate of 57.6 per cent.
Click here <a href="https://www.propertyobserver.com.au/images/2018/6/4/results-june4.jpg" target="_blank">to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/6/4/results-june4.jpg" alt="">
Adelaide was the strongest capital at 68.2 per cent, with Canberra is second place at 65.9 per cent, while only 26.7 per cent of homes sold across Perth.
<div>
Melbourne returned a preliminary clearance rate of 61.6 per cent this week, increasing on last week’s 59 per cent final clearance. 
</div>
</div>
The top under the hammer sale was in Sydney's Greenwich when interior architect, Freya Reid, a principal of architecture firm Cave + Reid Design, and her husband, Peter Reid secured $5,750,000, which was $250,000 above reserve.
</div>
<div>
Four of the eight bidders participated in bidding on the four-bedroom, three-bathroom home at <a href="https://www.realestate.com.au/property-house-nsw-greenwich-128267890">20 Wilona Avenue</a>, The Sunday Telegraph noted.
The contemporary home comes with heritage listed former coach house on its 713sqm block. 
They’d bought the property in 2007 for $1.9 million and completed a full redesign and rebuild in 2016.
Melbourne's highest sale was $5.44 million in Middle Park through Cayzer Real Estate. The 80 Nimmo Street offering was listed with $5 million to $5.5 million hopes.
</div>
</div>
It was an <a href="https://www.realestate.com.au/property-house-vic-middle+park-128298970" target="_blank">original Edwardian residence</a>, with Little Page Street along its side, offered for the first time in over 60 years. 
Melbourne had the nation's cheapest sale when $255,000 was paid for <a href="https://www.realestate.com.au/sold/property-unit-vic-dandenong-128299778" target="_blank">39/39 King Street, Dandenong</a>.
Its price guide had been $210,000 to $230,000.
The two bedroom, two storey townhouse last sold at $157,000 in 2007.
<div title="Page 1">
Weekend auction sales also included Brendan Moar, the gardening guru, who accepted $2.5 million in Camperdown.
It was sold at the pre-auction price guide, with just the one bidding of the two registered parties.
</div>
<table border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td>
<h2>Auction highlights this week</h2>
</td>
<td>Saturday, 2 June 2018 </td>
</tr>
<tr>
<td colspan="2">
<table border="0" cellspacing="0" cellpadding="5">
<thead><tr>
<th>City </th>
<th colspan="2">Location </th>
<th>Value Sold </th>
</tr></thead>
<tbody>
<tr>
<td colspan="2">
Most expensive
</td>
<td colspan="2"> </td>
</tr>
<tr id="x_rpMostExpensive_trMostExpensiveRow_0">
<td id="x_rpMostExpensive_tdMostExpensiveCity_0" align="left">Sydney</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_0" colspan="2">20 Wilona Av, Greenwich NSW 2065, 4 br House, Belle Property Lane Cove</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_0">$5,750,000</td>
</tr>
<tr id="x_rpMostExpensive_trMostExpensiveRow_1">
<td id="x_rpMostExpensive_tdMostExpensiveCity_1" align="left">Melbourne</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_1" colspan="2">80 Nimmo St, Middle Park VIC 3206, 4 br House, Cayzer Real Estate</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_1">$5,440,000</td>
</tr>
<tr id="x_rpMostExpensive_trMostExpensiveRow_2">
<td id="x_rpMostExpensive_tdMostExpensiveCity_2" align="left">Adelaide</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_2" colspan="2">9 St Anns Pl, Parkside SA 5063, 3 br House, Ouwens Casserly</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_2">$1,205,000</td>
</tr>
<tr id="x_rpMostExpensive_trMostExpensiveRow_3">
<td id="x_rpMostExpensive_tdMostExpensiveCity_3" align="left">Brisbane</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_3" colspan="2">95 Gordon St, Gordon Park QLD 4031, 5 br House, Place Newmarket</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_3">$1,683,000</td>
</tr>
<tr id="x_rpMostExpensive_trMostExpensiveRow_4">
<td id="x_rpMostExpensive_tdMostExpensiveCity_4" align="left">Canberra</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_4" colspan="2">16 Goble St, Hughes ACT 2605, 4 br House, RW Canberra</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_4">$1,312,500</td>
</tr>
<tr>
<td colspan="2">
Most affordable
</td>
<td colspan="2"> </td>
</tr>
<tr id="x_rpMostAffordable_trMostAffordableRow_0">
<td id="x_rpMostAffordable_tdMostAffordableCity_0" align="left">Sydney</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_0" colspan="2">8/62 Alice St, Harris Park NSW 2150, 2 br Unit, AB Property Consultants</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_0">$500,000</td>
</tr>
<tr id="x_rpMostAffordable_trMostAffordableRow_1">
<td id="x_rpMostAffordable_tdMostAffordableCity_1" align="left">Melbourne</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_1" colspan="2">39/39 King St, Dandenong VIC 3175, 2 br Unit, Del Real Estate</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_1">$255,000</td>
</tr>
<tr id="x_rpMostAffordable_trMostAffordableRow_2">
<td id="x_rpMostAffordable_tdMostAffordableCity_2" align="left">Adelaide</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_2" colspan="2">15 Bradford St, Prospect SA 5082, 3 br House, HAR Property People</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_2">$422,000</td>
</tr>
<tr id="x_rpMostAffordable_trMostAffordableRow_3">
<td id="x_rpMostAffordable_tdMostAffordableCity_3" align="left">Brisbane</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_3" colspan="2">25 MacSwiney St, Collingwood Park QLD 4301, 4 br House, HAR Springfield</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_3">$325,000</td>
</tr>
<tr id="x_rpMostAffordable_trMostAffordableRow_4">
<td id="x_rpMostAffordable_tdMostAffordableCity_4" align="left">Canberra</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_4" colspan="2">10/41 Blackall St, Barton ACT 2600, 2 br Unit, Philip Kouvelis Real estate</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_4">$690,000</td>
</tr>
</tbody>
</table>
</td>
</tr>
</tbody></table>
 SOURCE Domain
 
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$16 million plus Bellevue Hill sale among weekend auction listings

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Neisha and John Pitt, winners of the 2013 Channel 9 series, The Block, sold their Bexley investment property which was listed for weekend auction.
The couple paid $1.1 million in 2016 for the home on 600 sqm which was listed for weekend auction.
They accepted $1.06 million <a href="https://www.realestate.com.au/sold/property-house-nsw-bexley-128337686" target="_blank">for the 1920s home</a>.
They'd envisaged <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house/nsw/st-george-area/bexley/380099" target="_blank">the home</a> at 28 Highworth Avenue as a child care centre, but the couple had the opportunity to recently secure other premises.
McGrath Brighton Le Sands agent Matthew King, who secured the weekend result, had helped them sell their winning The Block apartment.
It was when they competed against contestants who included Mark and Duncan, the fat tradies who finished second.  
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Block couple Neisha and John sell in Bexley

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GUEST OBSERVATION
The Queensland government passed legislation last month to prevent the clearing of high-value regrowth vegetation on freehold and Indigenous land. The move has been deeply unpopular with many landholders. They have argued that they are footing the bill for the commmunity’s environmental aspirations – without compensation.
The government’s intention was to reinstate a “responsible vegetation management framework”, broadly in line with legislation first passed in 2004, but which the Newman government repealed in 2013.
But time has moved on since 2004. Instead of relying on a heavy-handed regulatory approach, a mix of carrots and sticks might have generated economic value for landholders, and reduced land clearing into the bargain.
Why landholders are fuming
Broadly speaking, landholders are worried the government hasn’t listened to their concerns and won’t pay for the land that is now effectively under state regulatory control. The parliamentary committee set up to report on the bill received more than 13,000 submissions (including 777 non-pro-forma submissions) – the largest number received by any committee of the Queensland parliament.
The government itself has admitted stakeholders were not consulted in the preparation of the bill, although the department report cites a “substantial history” of consultation on many of its measures. Nevertheless, the Queensland Law Society felt that further consultation would have been appropriate given “the sensitive nature of this legislation”.
Many submissions raised concerns about information shortfalls, regulatory duplication and excessive red tape. The department’s fallback position was simply to argue that “the proposed amendments are consistent with the government’s 2017 election commitment”.
Ironically, it is not only landholders who have lost out financially. The Queensland government is now effectively in control of an additional 1.76 million hectares of land, which it intends to leave undeveloped. But, in today’s world, the carbon stored in this land has a market price as well as an environmental value, if it’s properly managed.
Better alternatives
With a little more preparation and creative thinking, the government might have been able to spare our vegetation, create a huge pool of lucrative carbon offsets ready to market to the world, and provide compensation to affected landholders.
For instance, instead of an outright prohibition on land clearing, the government could have put in place a three-year moratorium on land clearing. Landholders could then be given a chance to opt out of the moratorium by transferring their land to a permanent conservation covenant or similar arrangement.
Although some careful drafting would be required to ensure the offsets integrity standards and other regulatory requirements are met, landholders who opted out of the temporary moratorium could become eligible to earn carbon offsets, or any other available financial incentives.
On the other hand, landholders who do not respond to this financial “carrot” would run the risk of being hit with the (uncompensated) “stick” of a more prescriptive approach (temporary or not) at the end of the moratorium period.
The government could help this transition along by helping landholders sign up for one or more of the various existing schemes for conservation covenants, carbon offsets and biodiversity offsets. One of the main factors preventing greater participation in these schemes is prohibitively high transaction costs, especially in the early stages.
I realise there is a degree of wishful thinking about this proposal. Several hurdles, particularly political ones, would need to be overcome. But if we want serious, fair and enduring land use reform, I think these options merit a more meaningful investigation.
At the moment, a heavy-handed sweep of a pen by politicians in Brisbane has locked both landholders and government out of the market for ecosystem services. Given that the government now essentially owns a huge store of carbon assets, it’s a missed opportunity.
<img src="https://counter.theconversation.com/content/97178/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">With a little more creative thinking, Queensland might have provided compensation to landholders at no cost to itself. Instead, it has used a regulatory hammer to impose rules that – judging by past performance – have no guarantee of surviving past the next election.
Philippa England, Senior Lecturer, Griffith Law School, Griffith University
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/queenslands-new-land-clearing-laws-are-all-stick-and-no-carrot-but-its-time-to-do-better-97178" target="_blank">original article</a>.
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Queensland's new land-clearing laws are all stick and no carrot: Philippa England

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GUEST OBSERVATION
Microplastics in the ocean, pieces of plastic less than 5mm in size, have shot to infamy in the last few years. Governments and businesses targeted microbeads in cosmetics, some were banned, and the world felt a little better.
Dealing with microbeads in cosmetics is a positive first step, but the reality is that they are just a drop in the ocean (less than a billionth of the world’s ocean).
Microplastics in soil may be a far greater problem. Norwegian research estimates that in Europe and North America, between 110,000 and 730,000 tonnes of microplastic are transferred to agricultural soils each year.
Here lies the issue: we know almost nothing about microplastics in global soils, and even less in Australian soils. In this article we take a look at what we do know, and some questions we need to answer.
How microplastics get into agricultural soil
Sewage sludge and plastic mulch are the two biggest known contributors of microplastics to agricultural soil. Australia produces about 320,000 dry tonnes of biosolids each year, 55% of which is applied to agricultural land. Biosolids, while controversial, are an excellent source of nutrients for farmland. Of the essential plant nutrients, we can only manufacture nitrogen. The rest we must either mine or recycle.
Sewage treatment plants receive water from households, industry, and stormwater, each adding to the load of plastics. Technical clothing such as sportswear and quick-dry fabrics often contain polyesters and polyamides that break off when clothes are washed. Tyre debris and plastic films wash in with the stormwater. Treatment plants filter microplastics out of the water, retaining them in the sludge that is then trucked away and spread over agricultural land.
In agriculture, plastic mulch suppresses weeds, keeps the soil warm and damp to assist germination, and improves yield. Over time, these mulches break down, and some fragment into smaller pieces.
Biodegradable bioplastic mulches are designed to break down into carbon dioxide, water, and various “natural substances”. Environmentally friendly plastics are often more expensive, raising the question of whether businesses will be able to afford them.
Other potential sources of plastics in agricultural soil include polymer sealants on fertilisers and pesticides, and industrial compost. Unsold food is often sent to the composting facility still in plastic packaging, and with plastic stickers on every apple and kiwi fruit.
The Australian Standard for composts tacitly recognises that microplastics are likely to be present in these products by having acceptable levels of “visible contamination”. Anyone who has bought compost or garden loam from a landscaping supplier may have noticed pieces of plastic in the mix.
In horticulture, particularly as green walls and green roofs grace more buildings, polystyrenes are used deliberately to make lightweight ‘soil’.
There might be other pathways we don’t know about yet.
What happens once microplastics are in the soil?
Here we stand at the edge of the cavernous knowledge gap, because we don’t know the effect of microplastics in our soil. The overarching question, physically and biologically, is where do microplastics go?
How plastics fragment and degrade in the soil depends on the type of plastic and soil conditions. Compostable, PET, and various degradable plastics will behave differently, having different effects on soil physics and biology.
Fragments could move through soil cracks and pores. Larger soil fauna might disperse fragments vertically and laterally, while agricultural practices such as tillage could push plastics deeper into the soil. Some fragmented plastics can absorb agrochemicals.
Soil microbes can break down some plastics, but what are the byproducts and what are their effects? Newer, biodegradable bioplastics theoretically have limited impact as they break down into inert substances. But how long do they take to break down in different soil and climatic conditions, and what proportion in the soil are non-degradable PET plastics?
Both the main form of carbon in soil and polythene (the most common type of plastic) are carbon-based polymers. Could the two integrate? If they did, would this prevent plastics from moving deeper into the soil, but would it also stop them breaking down?
Could plastics be a hidden source of soil carbon storage?
Bioaccumulation
Bioaccumulation is when something builds up in a food chain.
Research into microplastic accumulation on land is sparse at best. A 2017 study in Mexico found microplastics in chicken gizzards. In the study area, waste management is poor and most plastics were ingested directly from the soil surface as opposed to having bioaccumulated.
Nematodes can take up polystyrene beads suggesting some potential for bioaccumulation, however earthworms have reduced growth rate and increased mortality when they ingest microbeads.
Larger microplastics are unlikely to cross plant cell membranes, but it’s possible that plants can absorb the chemicals formed when plastic degrades. Plants have natural mechanisms to keep contaminants out of their fruiting bodies – pieces of plastic in apples or berries is highly unlikely – but root vegetables and leafy greens are a different story.
Metals can accumulate in leafy greens and the skin of root vegetables – could plastics or their byproducts do the same?
This is before we even get to nanoplastics, which are 1-100 nanometres wide. Can plant roots can absorb nanoplastics, and can they pass through an animal’s gut membrane?
Where to now?
The first step is to quantify how much plastic is currently in the soil, where it is, and how much more to expect. This is more difficult in land than water, as it’s easier to filter plastics out the ocean than to separate them from soil samples. The smaller the plastics are, the harder they’ll be to track and identify – which is why research must start now.
Research needs to address the different types of plastics, including beads and other synthetic fibres. Each is likely to act differently in the soil and terrestrial ecosystems.
Understanding how these plastics react will inform the next obvious questions: at what quantity do they become hazardous to soil, plant and animal life, and how can we mitigate this impact?
<img src="https://counter.theconversation.com/content/96858/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">Plastics in soil represent artefacts of human civilisation. Soils are full of human artefacts; if this was not the case then there would be no field archaeology. However, the effects of microplastic may persist far longer than our own civilisation. We must fill in our knowledge gaps swiftly.
Alisa Bryce, Research Affiliate, University of Sydney
Alex McBratney, Professor of Digital Agriculture &amp; Soil Science; Director, Sydney Institute of Agriculture, University of Sydney
Budiman Minasny, Professor in Soil-Landscape Modelling, University of Sydney
Damien Field, Associate professor, University of Sydney
Stephen Cattle, Associate professor, University of Sydney
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/we-have-no-idea-how-much-microplastic-is-in-australias-soil-but-it-could-be-a-lot-96858" target="_blank">original article</a>.
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We have no idea how much microplastic is in Australia's soil (but it could be a lot)

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The budget end of Melbourne’s prestige market faces tough challenged, according to Melbourne buyers' agent Nicole Jacobs. 
Jacobs defines the entry-level prestige market as between $2.5 million to $3.5 million. 
"This gets you a fairly modest family abode in Hampton close to the beach, a single-fronted home in Albert Park that is liveable or a sizeable apartment or, if you are lucky, a townhouse in Toorak," she blogged.
But this section of the market had changed slowly over the past 12 auction weekends. 
"Properties that are compromised by way of position or floor plan, are unrenovated or on the wrong side of the street, are finding it tough," she told Domain readers.
"The family home market at this level is very discerning and it is often the buyer’s first big property upgrade.
"Expectations are high and the competition tough.
"They also know when the price does not reflect the value in the area.
The clear message for vendors was "meet the market or be on the market for some time".
"The market is changing and it is now time for buyers to have the upper hand," she says. 
Jacobs agrees good properties in this price bracket were still selling well, but the key was getting the price right. 
"Get it wrong and the property no longer attracts competition among anxious buyers. 
"It is passing in, in many cases on a vendor bid, and then appearing as a private sale with an asking price at or above the original advertised price range.
"Clearly, the only competition is the vendor."
Emma Bloom, from Melbourne buyer's agent Morrell &amp; Koren, told Fairfax Media that auctioneers were pulling out all stops to get the tiny number of bidders to raise their paddles. Many agents were also hitting the panic button and selling before auction.
"If you put in any bid, it's yours," she suggested.
"Everyone's standing around with their hands in their pockets."
But last month following a $9 million sale of a 2000sq m luxury house in Glen Iris, she expressed the opinion: "It was a ridiculous price." 
"Whoever says there is a slowdown needs to be watching what's happening in the leafy inner suburbs of Melbourne," she said.
Emma Bloom further claimed many expats fear the Australian property market could become even more competitive and expensive because of record low interest rates and high immigration.
<div class="cq-article-content-paras section">
<div id="article-inline-ad" class="adWrapper">"They are super nervous about the tide going out and being left with nothing," she advised, in an article on the $5 million plus market.</div>
<div class="adWrapper"> </div>
<div class="adWrapper">"They fear not having anywhere to live if they don't buy now."</div>
<div class="adWrapper"> </div>
<div class="adWrapper">Informed weekend market commentary came from long-established real estate agent Greg Hocking, from Greg Hocking Holdsworth, who suggested it was "a mixed bag at the moment.”</div>
<div class="adWrapper"> </div>
<div class="adWrapper">“Buyers are becoming more critical and that is very evident.</div>
<div class="adWrapper"> </div>
<div class="adWrapper">"We had a couple of decent sales today, but there were a couple of others where prospective buyers just stood there and did nothing.”</div>
</div>
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Nicole Jacobs says Melbourne's 'budget prestige' market is becoming a buyers' market

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A Zeehan four bedroom house near the west coast of Tasmania has been listed for $75,000 by mortgagees.
It is offered by Jenelle Carey from Harcourts having last sold in 2005 at $80,000.
<a href="https://www.realestate.com.au/property-house-tas-zeehan-128261174" target="_blank">Located at 55 Main Street</a>, Zeehan, the Tasmanian home comes with four bedrooms, open plan kitchen/lounge/dining, and sunroom.
Nestled on a 1076 square metre block, it also features reverse cycle air conditioner and three garage space.
The council rates are $1,100 per annum.
The suburb's median price sits on $79,500, according to CoreLogic. 
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Zeehan, Tasmania mining town cottage listing by mortgagee

The Gold Coast economy has grown by 25 per cent since 2020/21 to surpass $55 billion, but perhaps the more significant story is what sits behind the headline number.

For decades, the Gold Coast has been viewed through the lens of tourism, lifestyle and population growth. The latest State of the City Report suggests that perception is increasingly out of step with reality.

Released by Invest Gold Coast, the report ranks the Gold Coast as Australia's largest non-capital city economy and, perhaps more notably, second nationally behind Sydney for Economic Complexity, a measure that assesses the diversity and sophistication of an economy.

It's a result that places the Gold Coast ahead of Melbourne, Brisbane, Perth and Adelaide, highlighting the extent to which the city's economic base has broadened beyond its traditional industries.

Today, the Gold Coast supports more than 350,000 jobs, is home to over 83,000 businesses and generates $19 billion in annual exports. Manufacturing now accounts for 62 per cent of international export growth, while sectors including health, education, advanced manufacturing, technology and professional services are becoming increasingly important contributors to the local economy.

[smartcode_project:default project_id=150017 project_image_fid=372547]

Gold Coast Mayor Tom Tate said the report confirmed the city's evolution into one of Australia's most significant economies.

"The Gold Coast economy continues to grow at an incredible pace. This is no surprise to those of us who have watched the evolution up close," Mayor Tate said.

"As one of the most entrepreneurial, investment driven and opportunity focused economies in the country our ambition has been realised and possibilities are endless.

"The Gold Coast has built a reputation as the city that says yes. We say yes to investment, yes to opportunity and yes to people who want to build something.

"It's this mindset helping us drive major growth across health, advanced manufacturing, screen production, marine, technology and the knowledge economy."

[smartcode_project:default project_id=149670 project_image_fid=360975]

While population growth has been one of the defining stories of the past decade, the report points to a broader economic transformation taking place.

The city's knowledge economy now contributes $7.9 billion annually and supports around 31,000 jobs, while the health and wellbeing sector contributes $5.2 billion and employs more than 42,000 people. Together, the six priority sectors identified in the report account for almost $24 billion in economic output and more than 145,000 jobs.

One of the strongest examples is the Gold Coast Health and Knowledge Precinct at Southport. The 200-hectare precinct now contains more than $5 billion worth of health, education, research and innovation infrastructure and supports over 16,000 jobs.

The report also highlights the growing role of advanced manufacturing, particularly in aerospace, defence and modular construction.

Gold Coast-based Gilmour Space Technologies recently became the first Australian commercial company to attempt an orbital launch, while companies including Modscape and ModnPods are helping establish the Yatala-Stapylton corridor as one of Australia's fastest-growing advanced manufacturing hubs.

The city's entrepreneurial culture is also translating into business growth.

Since 2019/20, the number of businesses operating on the Gold Coast has increased by 22 per cent, while firms employing more than 200 people have grown by 80 per cent. The report suggests the next challenge is converting more local start-ups and medium-sized businesses into nationally significant companies.

Development activity remains another key indicator of confidence.

There are currently more than $23 billion worth of major projects underway across the Gold Coast, supported by a record 75 active cranes, a figure that now exceeds Brisbane and represents a 150 per cent increase since 2016.

[smartcode_project:default project_id=112024 project_image_fid=343235]

Importantly, the report notes the next phase of investment will need to extend beyond residential development.

While 93 per cent of crane activity is currently tied to housing, Invest Gold Coast argues future investment will increasingly need to focus on cultural, civic, infrastructure and industry-enabling projects that strengthen the city's long-term economic resilience.

Invest Gold Coast Chair Will Hodgman said the city was now benefiting from years of economic diversification.

"What is happening on the Gold Coast is the result of the city's economic base broadening, fuelled by industries with long-term, high-growth potential," Mr Hodgman said.

"This is no longer a secondary Australian economy, the Gold Coast is becoming a globally connected city with deeper capability across health, knowledge and creative industries, advanced manufacturing, technology and exports."

[smartcode_project:default project_id=108274 project_image_fid=365786]

Looking ahead, the Gold Coast's population is projected to exceed one million residents by 2046.

For a city that was once largely defined by tourism and lifestyle, the latest figures suggest the Gold Coast is becoming something more significant, one of Australia's most diverse and economically sophisticated urban economies, and increasingly one that national and international investors can no longer afford to overlook.

Joel Robinson

75 cranes, $23 billion pipeline and a $55 billion economy: Inside the Gold Coast economic boom

Ron Bakir's Homecorp has sold more than 75 per cent of the apartments in its wellness-driven Florence Residences in Surfers Paradise following its first weekend release.

The <a href="https://www.apartments.com.au/new-apartments/florence-residences-24-monte-carlo-avenue-surfers-paradise-qld-4217">26-storey project on Monte Carlo Avenue</a>, which commenced construction earlier this year, has seen a flurry of buyers secure their slice of the Gold Coast's latest wellbeing-focused offering in one of the nation's most competitive property markets.

Since the pandemic, the Gold Coast's population has grown by more than 11 per cent, a rate approximately four times faster than Sydney's, driven largely by lifestyle changes and interstate migration. While buyer activity has moderated in some markets nationally, demand for newly built dwellings on the Gold Coast continues to gain momentum as purchasers increasingly prioritise lifestyle, amenity, wellbeing, liveability and long-term investment potential.

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[smartcode_project:default project_id=150414 project_image_fid=372743]

Homecorp CEO Ron Bakir says buyers today are looking for more than just a home.

"What we are seeing is a shift in how people define value in property," Bakir says.

"What attracts residents to new developments is a desire for more than just a residence. They are looking for a place that complements their lifestyle, supports their wellbeing and reflects the way they want to live into the future.

"Lifestyle, longevity, proactive health, wellbeing, connection and a sense of community are increasingly shaping purchasing decisions, particularly on the Gold Coast, where these factors continue to be a major drawcard."

[smartcode_project:default project_id=150414 project_image_fid=372744]

Bakir says Homecorp is responding to this shift through an approach that places greater emphasis on design, amenity and experience working together to create places that feel considered, connected and enduring in value.

Inspired by Eastern European design, Florence Residences will comprise 120 apartments alongside a private residents-only wellness club featuring a resort-style rooftop pool, hot and cold plunge pools, a spa retreat, contemporary gymnasium, and a spacious yoga and Pilates studio.

The development will also feature a residents-only lounge with private dining facilities and a rooftop bar, premium outdoor entertaining areas, a hotel-style lobby lounge, generous bike parking, and pet-friendly amenities including a heated dog wash.

[smartcode_project:default project_id=150414 project_image_fid=372742]

A limited number of apartments remain available, with an exclusive collection of four-bedroom sub-penthouses set to be released in the coming months.

Florence is one of the latest additions to Homecorp's expanding multi-billion-dollar property portfolio, which also includes plans for a <a href="https://www.apartments.com.au/news/qld/homecorp-lodges-plans-for-260-million-moroccan-bathhouse-inspired-tower-in-budds-beach">$260 million development in Budds Beach</a> tailored to the growing wellness market.

A development application has been lodged for a 27-storey, 156-residence tower at 8–10 Acacia Avenue and 25–27 Oak Avenue, featuring a residents-only Moroccan spa-inspired sanctuary.

Apartments at Florence Residences are priced from $1,249,000, with construction expected to be completed by late 2027.

[smartcode_project_cta:default project_id=150414]

Buyers rush to Homecorp's Florence Residences as Gold Coast wellness trend gains momentum

The NSW Government has expanded its $1 billion Pre-sale Finance Guarantee program, broadening access for affordable housing providers and smaller residential developments as it seeks to accelerate housing delivery across the state.

The Minns Government says the program has already helped bring forward more than 600 homes across Sydney and regional NSW since launching in September 2025, with similar models now adopted in South Australia and Western Australia.

The latest changes, announced by Treasurer Daniel Mookhey and Minister for Planning and Public Spaces Paul Scully, are designed to improve access to finance for projects that have planning approval but are struggling to secure funding.

Among the key changes is an expansion of support for community housing providers. The program will now support up to 100 per cent affordable housing projects valued at up to $30 million when delivered by not-for-profit providers, while support for larger affordable housing developments will increase for projects worth up to $80 million.

The government says the changes will help accelerate the delivery of housing for low-income workers, older people, people living with disability, and those at risk of homelessness, while reducing reliance on direct grants or subsidised loans to bridge funding gaps.

The eligibility criteria for smaller residential developments have also been broadened. The previous $5 million minimum project value threshold has been removed and replaced with a requirement that projects deliver at least four homes.

Support has also increased for projects delivering fewer than 20 homes, with the guarantee now able to cover up to 75 per cent of dwellings in a development, capped at $30 million per project.

The changes are expected to particularly benefit smaller-scale and regional developments, which often face greater challenges meeting pre-sale requirements imposed by lenders.

Treasurer Daniel Mookhey said the scheme demonstrates how government can use its balance sheet to stimulate housing supply without relying solely on taxpayer-funded grants.

"The Pre-sale Finance Guarantee shows how this Government is using its balance sheet to reduce risk and unlock private investment, enabling new homes to move from design to construction faster," Mookhey said.

"This landmark reform allows us to deliver homes for working families at a lower cost to taxpayers, while also maintaining strong financial discipline."

Planning Minister Paul Scully said the program had already proven effective in bringing stalled projects to market.

"The Pre-sale Finance Guarantee has already proven it can unlock stalled projects and accelerate housing delivery by giving lenders the confidence they need to back good developments," Scully said.

"These changes will allow more affordable housing and smaller developments to access support so more homes can be built faster where communities need them most."

Housing Minister Rose Jackson said the expansion would help community housing providers overcome financing barriers that often delay projects.

"We know community housing providers are ready to build more homes, too often they're held back by barriers to finance," Jackson said.

"Expanding the Pre-sale Finance Guarantee helps remove those barriers so more affordable homes can get off the ground sooner."

The announcement was welcomed by the Property Council of Australia, which has long advocated for measures aimed at improving project feasibility and access to finance.

Property Council NSW Executive Director Katie Stevenson described the expansion as a practical intervention that addresses one of the most immediate constraints on housing delivery.

"This is exactly the kind of practical intervention we need right now, focused on getting projects out of the ground, not just approved," Stevenson said.

"It builds on a model the Property Council has worked closely with government to develop following calls for such a scheme ahead of last year's NSW Budget, so it's great to see it being expanded."

Stevenson said the reforms would help unlock projects that are ready to proceed but have been delayed by financing challenges. However, she noted that broader feasibility issues remain a significant barrier to increasing housing supply.

"The biggest challenge in NSW housing today is delivery. Too many projects have planning approval but are simply not financially viable to proceed under current settings," she said.

Speaking at the Property Council's NSW Housing Summit, Housing Minister Rose Jackson acknowledged that feasibility and financing pressures continue to constrain housing delivery, while reaffirming the government's commitment to work with industry on solutions.

Stevenson said the government's recognition of those challenges was encouraging ahead of next week's state budget.

"It's positive to see the government clearly recognising that feasibility pressures are now a binding constraint on supply," she said.

"With the Budget just days away, the focus must be on backing delivery, making sure projects stack up, finance can flow, and more homes can move from approval to construction."

The expanded Pre-sale Finance Guarantee forms part of the NSW Government's broader housing agenda, which also includes planning reforms, the NSW Housing Pattern Book, and a series of rezonings intended to increase housing capacity across the state.

NSW expands Pre-sale Finance Guarantee to unlock more affordable and regional housing

Design-led developer-builder Lowe Living has unveiled its latest residential development, Jardin House, marking its first foray into Melbourne's blue-chip City of Boroondara.

Located a short walk from Camberwell Junction, <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House</a> has been designed to appeal to affluent local downsizers and established families seeking a low-maintenance alternative to the large homes that have long defined Camberwell and surrounding suburbs.

The project will comprise a collection of two and three-bedroom apartments ranging from 92 sqm to 280 sqm, alongside a limited number of penthouse residences featuring rooftop terraces spanning more than 100 sqm, with optional private pools.

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[smartcode_project:default project_id=146717 project_image_fid=372212]

Lowe Living Co-Founder and Managing Director Tim Lowe said Camberwell represented a natural next step for the developer as it expands into some of Melbourne's most tightly held residential markets.

"Jardin House is an important project for our team as it marks the next evolution of our portfolio into different well-established blue-chip pockets of Melbourne," Lowe said.

"Camberwell, with its incredible walkability, family-led neighbourhood feel and superb access to education and transport, makes it a natural choice for us."

[smartcode_project:default project_id=146717 project_image_fid=372227]

Designed by Tristan Wong Architects, with interiors by Hecker Guthrie and landscaping by Acre, the development takes inspiration from the Art Deco architecture that remains a defining feature of many of Camberwell's established streets.

A curved facade, arched openings, textured brickwork and sculpted forms reference the suburb's architectural heritage, while extensive landscaping softens the building's presence and creates a strong connection to the surrounding tree-lined streetscape.

The project will be set behind a secure gated entrance, with residents arriving through landscaped gardens designed to create a transition between the public realm and private residences.

Inside, the residences feature natural stone and timber finishes, full-height glazing, Miele appliances and generous open-plan living areas designed for long-term owner occupation.

[smartcode_project:default project_id=146717 project_image_fid=372225]

While the apartments themselves have been designed to attract discerning owner-occupiers, it is the amenity offering that sets Jardin House apart from many other boutique projects currently launching across Melbourne.

The centrepiece is a 350 sqm private bathhouse curated in partnership with Aurora Spa &amp; Bathhouse founder Lyndall Mitchell.

The wellness precinct includes mineral pools, hydrotherapy experiences, a Himalayan salt room, sauna, steam room, cold plunge pools and dedicated relaxation spaces, creating what Lowe Living describes as a private wellness retreat exclusively for residents.

[smartcode_project:default project_id=146717 project_image_fid=372222]

The collaboration follows Lowe Living's recent partnership with Aurora at Maison Savoy in Brighton, although Jardin House is the first project to incorporate both indoor and outdoor wellness experiences.

Emma Lowe, Co-Founder and Managing Director of Lowe Living, said wellness was becoming an increasingly important consideration for apartment buyers.

"Collaborating with Lyndall Mitchell from Aurora Spa &amp; Bathhouse for a second time is an intentional nod to creating residences that are more than just homes, but a way to enrich the lives of our residents through wellness and longevity," Lowe said.

The amenity offering is complemented by a Technogym fitness studio, residents' lounge, private dining spaces and concierge services.

The launch comes as developers increasingly target Melbourne's established eastern suburbs, where rising land values, ageing housing stock and growing downsizer demand are creating opportunities for boutique apartment projects.

Lowe said the company expects significant generational wealth transfer across suburbs such as Camberwell in coming years, creating further demand for luxury apartment living.

"Camberwell is a blue-chip suburb where homes regularly transact for multiple millions of dollars," he said.

"The generational change of wealth in these locations expected in the coming years is significant, so we see an opportunity to create exclusive residences that appeal to older families and downsizers in order to meet this demand."

Apartments at Jardin house start from $1,195,000. The project forms part of Lowe Living's near-$1 billion portfolio of new developments across Melbourne.

[smartcode_project_cta:default project_id=146717]

Lowe Living launches Jardin House in Camberwell

As <a href="https://www.apartments.com.au/developments/north-sydney-nsw-2060">North Sydney</a> continues its transition from a commercial centre into a more layered residential and lifestyle precinct, a new generation of apartment developments is reshaping expectations around scale, amenity, and long-term liveability.

Improved transport connections through the Victoria Cross Metro, continued investment in dining and public spaces, and a constrained supply of new luxury apartments have sharpened demand for homes that combine proximity to the CBD with the privacy and outlook traditionally associated with harbourside houses.

At 177 Walker Street, <a href="https://www.apartments.com.au/developers/aland">ALAND</a>’s new apartment development <a href="https://www.apartments.com.au/new-apartments/the-walden-north-sydney-177-walker-street-north-sydney-nsw-2060">The Walden</a> enters the market with a distinctly residential approach to high-rise living. The 30-level tower will deliver 161 residences, ranging from one-bedroom apartments through to sub-penthouses and a full-floor penthouse, all oriented to capture uninterrupted views across Sydney Harbour, the Opera House, and out toward the Pacific Ocean.

[smartcode_project:default project_id=134323 project_image_fid=6395]

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, the project takes advantage of the site’s natural topography and elevated position above the harbour. Rather than relying on density alone, the architecture focuses on outlook, orientation, and spatial flow, with every apartment occupying a corner position to maximise natural light and cross ventilation.

Rothelowman says the site itself shaped much of the architectural response.

“The site has a long history in terms of its inevitable transformation and when we came in, we took inspiration from the idea of reestablishing a sense of the site’s natural terrain and fall. Our scheme aims to integrate with the terrain and the landscape, using the undulating site to slowly reveal glimpses and views of the harbour. The rotation of the tower off grid means every apartment has a view and is naturally cross ventilated. The building's colour palette is quintessentially Sydney, with bronze and sandstone and a luminescent green colour in the glass, making it very earthy and grounded in its location.”

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Inside the residences, the emphasis moves toward larger-format living typically associated with standalone homes. Kitchens sit at the centre of the apartments, connecting directly to open-plan dining and living areas before extending outward into expansive winter gardens and balconies. Calacatta marble, bespoke joinery, integrated appliances, and custom metal detailing are used throughout, while three distinct interior palettes, Terrace, Opera, and Harbour, allow buyers to personalise the spaces without compromising the architectural consistency of the project.

The larger residences place particular attention on separation between entertaining and private zones. In many apartments, master suites occupy the outer corners of the floorplates, allowing bedrooms to benefit from floor-to-ceiling glazing and harbour outlooks independent of the living spaces. Dressing rooms and ensuites continue the material palette through fluted detailing, freestanding baths, and layered stone finishes.

Rothelowman says the design intent centred on creating homes that feel enduring rather than transient.

“Our philosophy is all about the way people live in these spaces, and we wanted to create homes that reflect the quality of life in this unique Sydney location. The apartments showcase expansive living spaces that are generous, sophisticated, and bold, with the ability to connect with views throughout each apartment.”

[smartcode_project:default project_id=134323 project_image_fid=353235]

A separate four-storey amenity building known as The Pavilion expands the residential offering beyond the apartments themselves. Positioned alongside the tower, the building consolidates wellness, recreation, and social spaces into a dedicated resident retreat. Facilities include a 20-metre rooftop pool and sundeck, sauna, spa, ice bath, wellness studio, gymnasium, concierge service, wine cellar, residents’ lounge, private dining spaces, and dedicated co-working areas with meeting rooms and boardroom facilities.

The amenity mix reflects the buyer profile emerging in North Sydney, where owner-occupiers and downsizers are increasingly prioritising convenience, apartment scale, and long-term usability over purely investment-driven decisions.

The Walden also represents a significant milestone for ALAND, marking the company’s first major move into Sydney’s inner-city luxury apartment market after more than two decades delivering large-scale residential communities across Greater Sydney. Founder Andrew Hrsto says the Walker Street site stood apart because of both its positioning and its rarity.

[smartcode_project:default project_id=134323 project_image_fid=6390]

“As a company, we had been searching for a site in one of Sydney’s blue-chip locations, spanning the Eastern Suburbs, the Sydney CBD and the North Shore, and when we had the opportunity to purchase this site, we immediately recognised that it could be something iconic.”

At launch, The Walden recorded more than $103 million in sales, with buyers drawn to the project’s harbour positioning, apartment scale, and proximity to the Metro, which now connects North Sydney to Barangaroo in three minutes and Martin Place in five.

ALAND has commenced construction, and is expecting a completion date in 2028.

[smartcode_project_cta:default project_id=134323]

Staff reporter

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