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It was a humble beachside cottage that showed Sydney's stellar price potential. Although it's weekend auction outcome came from a Melbourne buyer keen for its Bondi Beach panorama.
Three bidders competed for the 1920s home on the Ben Buckler headland at North Bondi (above). Bidding opened at $6.1 million for the three-bedroom home at <a href="https://www.realestate.com.au/sold/property-house-nsw-north+bondi-126902458" target="_blank">159 Hastings Parade</a> and went up mostly in $200,000, $150,000, $100,000 and $50,000 jumps until the hammer fell at $7.55 million.
It sold to a family relocating from Melbourne, through Peter Starr of McGrath Group who had a price guide of $6.1 million to $6.6 million.
They plan to build their dream home on a 398-square-metre block, with Bondi Beach views.
Reflecting almost $19,000 per square metre, Starr said the sale sets a record for land-value property in Bondi.
It last sold for $3.15 million in 2006 and at $148,000 in pre-boom 1985.
With auction volumes slightly lower, the national preliminary clearance rate improved marginally, according to CoreLogic.
There were 3,276 auctions held across the capital cities, returning a 63.5 per cent success rate, up on last weekend’s final auction clearance rate of 61.1 per cent when it was the third busiest week so far this year with 3,438 offerings.
Over the same week last year, auction volumes were similar at 3,207, although the clearance rate was considerably higher at 72.3 per cent, Kevin Brogan, the CoreLogic auction analyst noted.
Across the two largest auction markets, Melbourne and Sydney, both saw an increase in the sales clearance.
Canberra recorded the highest clearance rate of 75.6 per cent, while only 44.9 per cent of homes sold across Brisbane.
Across Canberra 105 auctions were held, compared to 128 last weekend. Canberra’s clearance rate was well up on the previous weekend's 61.7 per cent.
Brisbane’s preliminary clearance rate was 44.9 per cent, down from 52.1 per cent last week. There were 191 Brisbane auctions this weekend, compared to 153 last weekend. 
In Melbourne, Australia’s largest auction market, a preliminary auction clearance rate of 66 per cent was recorded across 1,652 auctions this week.
The wet results included retired Carlton star Andrew Walker’s house <a href="https://www.realestate.com.au/property-house-vic-preston-126884130" target="_blank">at 28 May Street Preston</a> (below) which sold through Hocking Stuart at $1.74 million, well above the $1.3 millions to $1.4 million price guidance.
<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/2017/12/4/Preston1.jpg" alt="">
<div class="x_w650 x_h366 x_image x_media">
<div class="x_image-wrapper">Walker, who played 202 games for the Blues, bought the California bungalow in 2011 with wife Kylie.</div>
<div class="x_image-wrapper">They are moving back to Walker’s hometown of Echuca, which saw high weekend rainfall.</div>
</div>
Last week, Melbourne’s final clearance rate was recorded at 65.5 per cent across 1,736 auctions, making it the lowest clearance rate the city has seen since June 2016. While one year ago, 1,416 homes were taken to auction across Melbourne and a clearance rate of 77.3 per cent was recorded. 
Melbourne's auction clearance rate was "likely to revise lower as final results are collected and potentially surpass last week as the lowest seen since June 2016," Kevin Brogan tipped.
A Caulfield North apartment was Melbourne's cheapest at $280,000. The <a href="https://www.realestate.com.au/property-apartment-vic-caulfield+north-126880566" target="_blank" rel="noopener noreferrer">12/113 Eskdale Road</a> offering had been marketed with a $270,000 to $290,000 price guidance. Last traded in 2001 at $225,000, it was most recently a $300 a week rental.
Melbourne's top sale was in Toorak where <a href="https://www.realestate.com.au/sold/property-house-vic-toorak-126885042" target="_blank" rel="noopener noreferrer">7 Springfield Avenue</a> fetched $4.6 million. The four bedroom 2008-built Wendy Nettle-designed home last sold in May 2014 at $3.53 million.
Sales included a pre-auction deal on <a href="https://www.realestate.com.au/sold/property-house-vic-brighton-126914706" target="_blank" rel="noopener noreferrer">a Dendy Street, Brighton</a> bathing box. It sold for a record price, likely more than $330,000 through Marshall White agent Barb Gregory. The record was $326,000.
Figures from the Real Estate Institute of Victoria suggest about 4300 homes will be sent under the hammer this month, which would top last year’s record 3877.
Across Sydney, 1,126 auctions were held this week, down from 1,215 over the previous week. The preliminary clearance rate of 62.4 per cent is up from 56.8 per cent last week, however still lower than this time last year, when a clearance rate of 75.2 per cent was recorded across 1,182 auctions.
Looking at the sub-regions of Sydney, the Ryde region recorded the strongest clearance rate of 73.9 per cent across 75 auctions. Ryde sales included a six bedroom home at <a href="https://www.realestate.com.au/property-house-nsw-ryde-126911222" target="_blank" rel="noopener noreferrer">3 Burke Street</a> which fetched $2.15 million.
This week, Adelaide saw a preliminary clearance rate of 64.6 per cent, with 99 reported results across a total of 141 scheduled auctions. In comparison, over the previous week Adelaide’s clearance rate was 63.4 per cent and 65.3 per cent one year ago.
Adelaide had the nation's cheapest sale when $220,000 was paid in Aldinga Beach. It was a mortgagee sale of a three bedroom house at <a href="https://www.realestate.com.au/property-house-sa-aldinga+beach-126907886" target="_blank" rel="noopener noreferrer">43 Butterworth Rd, Aldinga Beach</a>. It last traded at $157,500 in 2008.
Perth’s clearance rate of 47.6 per cent across 50 auctions was up from the previous week, when 43 auctions were held and a clearance rate of 33.3 per cent was recorded. 
 
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j.ballantyne1990-6AQqhLzZaK

Bondi Beach panorama offering sees Sydney prices riding the wave 

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The expat retail executive David Lowy has spent about $47.4 million on a condominium in New York City.
The unit, a <a href="https://www.propertyobserver.com.au/https://www.cityrealty.com/nyc/midtown-west/one57-157-west-57th-street/45511" target="_blank">penthouse at One57 at 157 West 57th Street</a>, had been owned by shell companies linked to Kolawole Akanni Aluko, a Nigerian businessman accused by the U.S. of conspiring to pay bribes to the country’s former oil minister in return for steering oil contracts to companies owned by Mr. Aluko and his partner, the Wall Street Journal reported.
<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/2017/12/4/Lowy2.jpg" alt="">
 
One of Mr. Aluko’s lenders filed to foreclose on the property earlier this year, public records show.
Mr. Aluko’s entity bought the apartment for $50.9 million in 2014, public records also show. 
The 6,240-square-foot unit has four bedrooms and 4½ baths and sweeping views of the city and Central Park. Lowy’s purchase of the One57 penthouse is the highest paid on a foreclosure condo sale in New York City.
<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/2017/12/4/Lowy3.jpg" alt="">
Following the deal, Lowy is now listing his apartment on a lower floor for $27 million, which he bought for $28 million in 2015, according to public records.
The 4,116-square-foot unit comprises three bedrooms and 3½ bathrooms and has been has been completely upgraded by the owner, according to the listing.
 
 
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David Lowy upgrades in New York's One57

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Melbourne developer Nick Corcoris has bought a 12.24-hectare site in Officer.
The site, 54 kilometres from the centre of Melbourne, cost $20.25 million in an off-market deal with the local landowner, Fairfax Media reported.
Selling agents Red23 said it was the highest price paid – on a per hectare basis – in Officer, a new housing hub where projects are being undertaken by the likes of Satterley Property Group.
Corcoris Group is developing Epping Views, a major project in the city's north.
Selling agent Paul Oliver from Red23 said the price paid for the Rix Road site reflected the lack of land supply in the market and also its proximity close to a train.
It's one of Melbourne's most expensive land markets with a median price of around $254,100 for a lot in the Shire of Cardinia.
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Developer Nick Corcoris splashes $20.25 million on Officer site

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Oroton stores will operate as usual after the 79-year-old luxury handbag retailer fell into voluntary administration.
"The board is disappointed that it has had to take this step after running such a comprehensive process," interim chief executive Ross Lane, the grandson of Oroton founder Boyd Lane, said in a statement to the ASX on Thursday.
"However, having carefully considered the options available to the company at the conclusion of its strategic review, it is apparent that voluntary administration is necessary to protect the Oroton business and the future of this iconic Australian brand."
The group's 62 Oroton stores across Australia, New Zealand and Malaysia, which employ about 550 staff, will continue to operate as administrators from Deloitte Restructuring Services look at recapitalising or selling the brand.
The Lane family have a 22% stake, with fund manager Will Vicars having an 18% stake.
Entities controlled by Vicars entered a put and call arrangement with Westpac to secure critical credit support for Oroton in August.
Oroton sank to a $14.3 million loss in the year to July, compared to a $3.4 million profit the previous year.
Contributing to the loss were costs linked to its wind-down of its Gap franchise after it terminated an agreement with the US apparel group.
The group's shares, which have been suspended, last traded at 43.5 cents.
The company's December 1 annual general meeting has been postponed.
The first creditors meeting is set for December 11.
"However, having carefully considered the options available to the company at the conclusion of its strategic review, it is apparent that voluntary administration is necessary to protect the Oroton business and the future of this iconic Australian brand," the board advised the ASX.
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Oroton's 62 stores to continue trading as administrators move into luxury handbag chain

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Melbourne has all of the busiest auctions this weekend, with 22 homes scheduled to go to auction across Reservoir, followed by Doncaster East with 20 scheduled auctions, while Mount Waverley and St Albans will each host 19 auctions.
Reservoir typically tops the list as the nation's busiest auction suburb. There is current an $860,000 median house price,
<a href="https://www.realestate.com.au/property-house-vic-reservoir-126910114" target="_blank">A Gisborne Crescent, Reservoir two bedroom house</a> (pictured above) marketed as having a $700,000 reserve price has gone under contract in pre-auction negotiations.  
It sits on a 600 square metre block.
There are fewer homes scheduled to go to auction across the combined capital cities, after last week recorded the third busiest week for auctions so far this year, according to CoreLogic.
CoreLogic is currently tracking 3,044 capital city auctions, down from the 3,438 held last week and also lower than the 3,207 auctions held one year ago.
Both Melbourne and Sydney, the two largest auction markets are set to host fewer auctions this week compared to last, with 1,520 Melbourne homes scheduled to go to auction and 1,080 scheduled auctions across Sydney, down from the 1,736 and 1,215 auctions held last week respectively.
Brisbane, Perth and Tasmania are all expected to see an increase in activity this week, while there are fewer auctions scheduled in Adelaide and Canberra.
Last week, the combined capital cities saw auction volumes reach their third highest level this year, with a total of 3,438 held, returning a final auction clearance rate of 61.1%.
It represented a slight increase from the week prior when a 60.9% clearance rate was recorded across a slightly lower 3,390 auctions.
One year ago, clearance rates were significantly higher over the corresponding period, with 73.0% of auctions clearing, while the number of auctions held was similar (3,398).
Melbourne’s final auction clearance rate continued to soften last week, with 65.5% of auctions clearing, surpassing the previous low seen two weeks prior when the final clearance rate dropped to its lowest seen since June 2016.
Volumes across the city were virtually unchanged week-on-week, with 1,736 held from 1,732 over the week prior when 66.9% cleared.
In Sydney, the final auction clearance rate recorded its fifth consecutive week below 60%, however week-on-week results saw an increase in both volumes and the final clearance rate, with 1,215 auctions held and 56.8% selling, up from the 54.8% across 1,061 auctions.
Across the remaining capital cities, Brisbane was the only capital city to see an improvement in clearance rate last week.
Of the non-capital city regions, Geelong recorded the highest clearance rate, with 78.3% of the 65 auctions successful.
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Auction numbers in decline - except Reservoir - as summer hibernation closes in

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GUEST OBSERVATION
The desire to preserve the special character and historical significance of unique places and buildings is at the heart of heritage preservation. But should heritage be “frozen in time”? Or can it sometimes be adapted for re-use in sustainable ways?
Safeguarding heritage for future generations can celebrate urban histories. But it can also make environmental sense. This includes conserving the embodied energy in buildings and retaining examples of design suited to the local environment.
However, some may see heritage protection as an imposition. This might include owners who wish to add modern sustainability features to a heritage building.
Say, for example, a home owner wants to improve thermal performance and energy efficiency by using double-glazing and solar panels. Would a council heritage officer reject such improvements?
If done well, heritage protection can add value to buildings, neighbourhoods and communities. The benefits can include:
<ul>
<li>preserving cultural and architectural assets</li>
<li>defining the character of places</li>
<li>contributing to social and community well-being</li>
<li>improving the overall built environment.</li>
</ul>
What is old is new again
Many of the world’s cities need to accommodate population growth and activities within existing urban areas. Even places and buildings that are treasured for their cultural value can face mounting pressure for demolition and redevelopment to accommodate growth.
Environmental challenges like climate change are also driving efforts to adapt built environments to be more sustainable and liveable.
How best to protect built heritage then becomes a key question. Fortunately, we can often sustainably modify built heritage for new uses.
Indeed, we have been recycling old places since the first cities were created.
“Adaptive re-use” is the process of repurposing built heritage for new functions. It’s based on the idea of “preservation through transformation”.
Sustainably retrofitting heritage buildings
The possibilities created by adaptive re-use can easily capture the imagination. Could a former chocolate factory be converted into retail spaces? Or a power station be turned into a bookstore, cafe, restaurants or museum? Or a market building be transformed into a museum and studios for artisans?
Adaptive re-use offers potential social, economic, cultural and environmental returns. There are now many successful examples of this. For example, London’s iconic Tate Modern gallery is housed in a former power station.
<a href="https://images.theconversation.com/files/189732/original/file-20171011-16686-1se7f7f.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/189732/original/file-20171011-16686-1se7f7f.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
From power station to art gallery: the Tate Modern in London. <a class="source" href="https://www.propertyobserver.com.au/https://www.flickr.com/photos/reservasdecoches/3661674044" target="_blank">Alquiler de Coches/flickr</a>, <a class="license" href="http://creativecommons.org/licenses/by/4.0/" target="_blank">CC BY</a>
Commentators have noted how since the 1970s formerly disparaged inner-city areas have become trendy around the world. Preserving heritage while allowing buildings and districts to evolve organically in response to current needs is possible.
Buildings are not the only heritage assets that can be adaptively re-used. There are many examples internationally where sites such as cemeteries have been re-used for parks and gardens. One may be seen in the Shandon Architectural Conservation Area in Cork, Ireland.
<img src="https://images.theconversation.com/files/189724/original/file-20171011-16660-1yvg06y.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
This historic, heritage-protected graveyard in Shandon has been adapted into a pocket park. Tony Matthews
In Sydney, the Paddington Reservoir Gardens are a recycled former water storage reservoir. It’s now a beautiful urban park. As well as recreation and relaxation, the park offers urban cooling.
<a href="https://images.theconversation.com/files/189707/original/file-20171011-2038-1uu94bj.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/189707/original/file-20171011-2038-1uu94bj.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Paddington Reservoir Gardens in Sydney were formerly a water storage reservoir. <a class="source" href="https://commons.wikimedia.org/wiki/File:Paddington_Reservoir_Gardens_2010.jpg" target="_blank">Wikimedia Commons</a>, <a class="license" href="http://creativecommons.org/licenses/by-sa/4.0/" target="_blank">CC BY-SA</a>
Adaptive re-use is different to “facadism”, where only the external shell of a building is saved. Adaptive re-use attempts to preserve the interior of building too (wherever possible), sometimes incorporating old fittings in playful ways. Facadism is a less elegant and useful version of heritage protection.
<a href="https://images.theconversation.com/files/189702/original/file-20171011-2038-1bj2o0l.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/189702/original/file-20171011-2038-1bj2o0l.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
 An example of ‘facadism’ – only the shell of the building is retained. <a class="source" href="https://www.propertyobserver.com.au/https://www.flickr.com/photos/newtown_grafitti/6835379279" target="_blank">Newtown grafitti/flickr</a>, <a class="license" href="http://creativecommons.org/licenses/by/4.0/" target="_blank">CC BY</a>
So what is allowed in adaptive re-use?
Given the many possibilities for repurposing buildings and places, we need to keep in mind what steps can be taken to preserve heritage and improve sustainability. Legal, practical and financial questions are central to decisions on adaptive re-use.
A raft of international and national laws, conventions and organisations have emerged in recent decades to guide heritage management. These include the International Council on Monuments and Sites (ICOMOS), the Burra Charter and the UNESCO World Heritage List. And practical guidance to protect built heritage while sustainably adapting it is becoming more common.
The European Union has developed guidelines and best practice examples for local governments. These provide guidance for achieving ambitious energy efficiency standards when renovating historic buildings. This is seen as a way for heritage buildings to become beacons of sustainable development at the community level.
ICOMOS Australia also has a range of information about guidelines for sustainability retrofits and adaptive re-use of heritage buildings.
For example, let’s return to our earlier example of fitting solar panels to a heritage building. In South Australia the use of solar panels on heritage buildings needs to ensure they are not visible from the street. Hobart City Council has very specific guidelines for incorporating solar in heritage buildings. In Queensland, sustainability upgrades must not damage or obscure views of the heritage building, must not damage the “significant fabric” of the building, and must be sympathetic in size, scale, colour, materials etc.
<img src="https://counter.theconversation.com/content/83975/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">Adaptive re-use offers great potential to protect built heritage while meeting principles of sustainability. Practices that combine built heritage protection and sustainable development are gaining momentum in many cities. Comprehensive, integrated and strategic guidance is the first and best step towards supporting the exciting possibilities.
Jason Byrne, Associate Professor of Environmental Planning, Griffith University.
Tony Matthews, Lecturer in Urban and Environmental Planning, 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/sustainable-re-use-and-recycling-work-for-heritage-buildings-and-places-too-83975" target="_blank">original article</a>.
Main photo: The old Pratt Street power plant in Baltimore in the US is now home to commercial uses. But the heritage preservation is compromised by advertising that is not sympathetic to the building style and design. Source: <a class="source" href="https://commons.wikimedia.org/wiki/File:BaltimorePowerPlant.JPG">Wikimedia Commons</a>.
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Sustainable re-use and recycling work for heritage buildings and places too

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Debbie Lee, the Western Bulldogs' general manager of women's football and VFL women's coach, has listed the house she built in Pascoe Vale.
Lee built the <a href="https://www.realestate.com.au/news/aflw-pioneer-debbie-lee-looks-to-handball-pascoe-vale-home/?rsf=syn:news:nca:hs:socref" target="_blank">two storey home</a> in 2010 and is asking for offers between $940,000 to $1 million for its December 9 auction.
Set on over 400 sqm, the Tangyes Street home has three bedrooms, two bathrooms and an outdoor deck.
The backyard bar nods to Lee's ownership, with signed jersey's hanging from the walls and a plate above the bar with 'Lee' written (below)
<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/2017/11/30/LEE2.jpg" alt="">
Rebecca Towns at Brad Teal Pascoe Vale South is marketing the home.
Lee is a pioneer of women’s football and was a key architect in building the Demons, where she joined the Dogs from, in AFLW01.
 
 
 
 
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Women's AFL pioneer Debbie Lee lists Pascoe Vale home

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Retired Test cricketer Brendon Julian bought into Danny Avidan’s latest development at the former Bronte RSL.
He paid $2.5 million for a two bedroom apartment in Bronte Place.
He and his wife Suzanne already have a Bronte property.
They bought a rundown 1970s home for $5.3 million in 2007 before renovating it into a contemporary home with swimming pool included.
The former fashion mogul-turned-property developer Avidan purchased the site earlier this year for $10 million.
All but six of the planned 21 apartments have already been sold.
Ben Stewart from CBRE is handling enquiries with a one bedroom with study home for $1.55 million to more than $2 million for a two bedroom home as well as a penthouse worth $4 million.
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Retired Test cricketer Brendon Julian buys former Bronte RSL site apartment

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The Urban Development Institute of Australia has elected Darren Cooper to replace the outgoing Michael Corcoran as its next national president after his two year term.
The UDIA, which has more than 2000 member companies, champions issues of housing affordability, supply and infrastructure policy.
Cooper has more than 30 years of experience in the development industry.
He currently serves on a variety of boards in the development industry, not-for-profit organisations and private companies.
Cooper is a strategic adviser to national developer AMEX Corporation.
He is a Life Member of UDIA WA and a former senior executive at Mirvac, Blackburne Property Group and PEET Limited.
"Our industry delivers 10 percent of Australia's GDP and employs 10 percent of Australia's workforce. UDIA is here to ensure that our industry's voice is heard given this massive contribution."
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Darren Cooper elected as Urban Development Institute president

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Lochee, the luxury Portsea trophy home, has been listed for sale.
The historic limestone cottage built in the 1890s has been fully renovated and sits in established Paul Bangay gardens that span over 1000 sqm.
<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/2017/11/30/Lochee.jpg" alt="">
Set in the heart of Old Portsea, the <a href="https://www.realestate.com.au/property-house-vic-portsea-126573262" target="_blank">Blair Road home</a> has four bedrooms, two bathrooms and a cellar. A swimming pool sits on the parcel.
Kay &amp; Burton Portsea agent Liz Jensen and Lorna Duffy are marketing the home as one of the most significant and historic properties on the Mornington Peninsula.
 
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Luxury Portsea trophy home Lochee hits the market

Sydney developer&nbsp;<a href="https://www.apartments.com.au/developers/central-element">Central Element</a>&nbsp;is doubling down in Drummoyne, lodging plans for a boutique apartment development on St Georges Crescent, only one-kilometre down the road from its first Drummoyne development, Bianca.

The new project at 15A-21 St Georges Crescent,&nbsp;a&nbsp;1,701sqm north-facing site overlooking Iron Cove, will have 45 apartmnts across 10 levels. Eight of the units will be dedicated to affordable housing.

The site sits within walking distance of Drummoyne Village, Birkenhead Point, ferry services and the Bay Run, and offers harbour views towards the Sydney Harbour Bridge and CBD skyline.

Designed by MHN Design Union, the development will deliver a mix of one, two and three-bedroom apartments, alongside resident amenity including a gym, landscaped communal open space and three levels of basement parking.

The project has been lodged under the NSW Government's Low and Mid-Rise Housing reforms, with Drummoyne Village identified as a town centre capable of accommodating additional housing supply.

Central Element acquired the site earlier this year as part of its continued expansion across Sydney's eastern suburbs, lower north shore and inner west.

The developer's current pipeline includes luxury apartment projects Pearl Bondi and a separate development on Lamrock Avenue in Bondi, a residential project in Barry Street, Neutral Bay, and a mixed-use seniors living community in Greenwich.

Central Element Managing Director Nathan Chivas said the project would address a shortage of new owner-occupier housing opportunities in Drummoyne.

"While we're seeing a significant shift across Canada Bay as major infrastructure investment, population growth and planning reform drive a new chapter for the region, in suburbs like Drummoyne there remains a genuine shortage of new boutique luxury housing opportunities for owner occupiers," Chivas said.

"Sites of this nature are increasingly difficult to secure, particularly those that combine a north-facing aspect with direct water outlook. Our St Georges Crescent project responds directly to the market demand, offering a level of exclusivity, outlook and lifestyle in the highly sought after suburb."

The development application has been lodged with the City of Canada Bay Council, with the project expected to launch to market in early 2027.

&nbsp;

Joel Robinson

Central Element seeks second Drummoyne apartment development

The NSW Government has unveiled plans that could deliver around 1,300 new homes across Nowra and Kiama, continuing its push to unlock housing in well-located regional centres along the South Coast.

The proposals, now on public exhibition, would pave the way for around 830 homes in Nowra and a further 450 homes in Kiama, while also introducing affordable housing requirements and increased building heights in key locations.

The larger of the two proposals is centred on Nowra, where the NSW Government is seeking to rezone land within the Mandalay and Riverfront precincts.

The Mandalay sub-precinct, located close to Shoalhaven Memorial Hospital, Nowra Library and the city's aquatic centre, could accommodate around 530 new homes. Around 30 per cent of housing delivered on Homes NSW-owned land would be dedicated to social and affordable housing, equating to roughly 100 homes. Building heights would increase from the current two-storey limit to between three and six storeys.

A separate rezoning proposal for the Nowra Riverfront Precinct would unlock a further 377 homes while creating stronger connections between the Shoalhaven River and the CBD. The plans include building heights ranging from five to 12 storeys, floor space ratios of up to 2:1 and a requirement for two per cent affordable housing.

Together, the two proposals would deliver more than 900 homes across the broader Nowra area, reinforcing the city's role as one of regional NSW's key growth centres.

The housing push builds on previous infrastructure commitments in the Shoalhaven, including government funding aimed at supporting thousands of future homes in West Nowra through upgrades to water and wastewater infrastructure.

Further north, the NSW Government is also progressing plans for the former Kiama Depot site, a two-hectare parcel near Kiama's town centre.

The rezoning proposal would transform the former industrial site into a residential community capable of delivering up to 450 homes. Buildings would range between six and eight storeys, with at least 10 per cent of homes allocated as affordable housing. The proposal also includes approximately 600 parking spaces and improved walking and cycling connections.

Planning Minister Paul Scully said the proposals are designed to increase housing supply in locations close to jobs, transport and services.

"For too long, families have struggled to find somewhere to live, and activating underutilised sites allows us to deliver the new homes these families need," Scully said.

"The Minns Labor Government is getting on with the job of unlocking well-located sites close to transport, jobs, and town centres and building the homes our communities need.

"These rezonings are about removing barriers to housing delivery and making sure land is put to better use so more people can find a place to call home within the communities they choose."

The latest rezonings form part of the Minns Government's broader strategy to accelerate housing delivery across NSW, particularly in established centres where existing infrastructure can support additional population growth.

Community consultation on the proposals is now underway, with feedback set to inform the final planning controls before the rezonings are determined.

Around 1,300 new homes earmarked for Nowra and Kiama as NSW Government pushes housing supply

<a href="https://www.apartments.com.au/developers/mrcb">MRCB International</a> has commenced construction on its latest Gold Coast apartment development, Maris, on the site of the former Sundale Motel in Southport.

The start of construction by <a href="https://www.apartments.com.au/builders/binah-constructions">Binah</a> follows an exceptionally strong sales campaign, with more than 90 per cent of apartments sold since launch. Every purchaser has been local, an&nbsp;indicator of confidence in both the development and Southport's evolution into a thriving CBD.

<a href="https://www.apartments.com.au/new-apartments/maris-southport-20-queen-street-southport-qld-4215">Maris</a> will deliver 192 residences across 20 levels. The project forms part of MRCB's Australian and New Zealand development pipeline now exceeding $1.6 billion in gross development value, alongside a growing portfolio of projects globally.

[smartcode_project:default project_id=134403 project_image_fid=350663]

The company also commenced construction on its $600 million 26 Vista residences in Surfers Paradise last year, following strong sales momentum, with over 70 per cent of residences sold.

Maris has been designed to meet evolving buyer demand, offering architecturally designed layouts suited to long-term liveability. The approach reflects a growing preference for quality and adaptability among Gold Coast buyers.

Positioned next to the Broadwater in the <a href="https://www.apartments.com.au/developments/southport-qld-4215">Southport</a> CBD, Maris sits directly opposite the Broadwater Parklands light rail station and within easy reach of retail, dining and lifestyle precincts, placing residents at the centre of one of the Gold Coast's most connected and rapidly maturing urban centres.

[smartcode_project:default project_id=134403 project_image_fid=372756]

Maris will offer a full suite of resort-style residential amenities, including a pool, gym and sauna, along with a rooftop level featuring decks, lounges and dining and yoga areas that command sweeping views across the Broadwater and out to the ocean.

Binah, a New South Wales headquartered company co-founded by Amen Zoabi and Khalil Hafza in 2008, has expressed its excitement at establishing its first partnership with MRCB.

Binah's Managing Director Khalil Hafza said partnering with MRCB on Maris is a significant moment for Binah.

"MRCB's financial strength and a track record that speaks for itself give this project a solid foundation, and this marks the beginning of what will be a long and successful relationship.

"With the right people, systems and partnerships behind it, Maris is set to become a significant addition to the Gold Coast's premium residential market."

[smartcode_project:default project_id=134403 project_image_fid=350664]

MRCB International CEO Ravi Krishnan said the project's progression to construction reflects both sustained demand and tightening conditions across the apartment sector, as well as MRCB's continued confidence in the Gold Coast market.

"Commencing construction at Maris is a significant step and reflects the depth of demand for quality apartments in well-connected urban locations," said Krishnan.

"Across Southeast Queensland, new apartment supply remains constrained, particularly in established precincts with infrastructure and amenity already in place. Projects like Maris are increasingly critical in meeting that demand, especially on the Gold Coast and in the city's CBD precinct."

[smartcode_project:default project_id=134403 project_image_fid=372761]

Krishnan said Southport's ongoing transformation, supported by infrastructure investment and long-term planning, was underpinning renewed buyer confidence.

"We're seeing a clear shift back towards well-located urban centres where infrastructure, connectivity and amenity are already established," said Mr Krishnan. "Southport is evolving into a more mature CBD environment, and that is being reflected in buyer behaviour."

Construction at Maris is anticipated to be completed in 2029.

[smartcode_project_cta:default project_id=134403]

Construction commences on MRCB’s $200m Maris Residences in Southport

Moonee Valley Park’s latest residential release <a href="https://www.apartments.com.au/new-apartments/the-eveline-at-moonee-valley-park-moonee-ponds-100-thomas-street-moonee-ponds-vic-3039">The Eveline</a>, has achieved a new benchmark for off-the-plan apartment sales in the suburb, with the sale of The Alexandra penthouse selling for $5,435,000.

Positioned on the top floor of a 16-level residential building, the three-bedroom, three and-a-half-bathroom penthouse features uninterrupted city skyline views across the future Valley racetrack.&nbsp;

The landmark sale comes as momentum at the precinct continues to build, with the Moonee Valley Racing Club progressing works on its new racetrack ahead of the 2027 Cox Plate. The transformative development will see MVRC reimagine the beloved Valley as a vibrant year-round entertainment and lifestyle destination.

Alongside a world-class racing experience, the historic precinct will be activated with events, hospitality and public green spaces designed to attract broader audiences, while breathing new life into one of Melbourne’s most iconic destinations.&nbsp;

[smartcode_project:default project_id=142519 project_image_fid=372786]

Development partners <a href="https://www.apartments.com.au/developers/hamton">Hamton Property Group</a> and Hostplus have delivered five residential stages over the past four years, the most recent in November 2025 with Trackside House and Stonepine House. The flourishing community is now home to almost 500 families.&nbsp;

The latest residential release, The Eveline, has recorded strong demand since launching publicly last July, securing more than $200 million in sales to date, satisfying its pre sales hurdle for construction to commence.&nbsp;

Hamton Founder and Executive Chairman, Paul Hameister OAM said, the sales&nbsp;team have been overwhelmed by demand for these unique homes in this unique project.

"Buyers continue to be predominantly hyperlocal and attracted by the 40 hectare botanic masterplan in Melbourne’s inner north west," Hameister said.

[smartcode_project:default project_id=142519 project_image_fid=372788]

Hamton’s Sales and Marketing Director Fergus Humphries said the team has achieved more than 70 sales over the past eight weeks, including the penthouse purchase by a local buyer.

"These results reinforce that, even in a challenging market, purchasers continue to be drawn to quality projects that offer more than just a home, they offer a lifestyle.”

Designed by Cera Stribley, the penthouse has been created with entertaining in mind, spanning close to 400 sqm of indoor and outdoor living space, including multiple terraces designed to capture sweeping views across Melbourne’s skyline, the new Valley racecourse and sunset views over Moonee Ponds.

Moonee Valley Park is one of Melbourne’s largest urban renewal projects, transforming the iconic racecourse site into a vibrant mixed-use neighbourhood integrating homes, parklands, retail, racing and community amenities.

[smartcode_project_cta:default project_id=142519]

Moonee Valley Park penthouse sets suburb record as sales surge clears construction benchmark

A company linked to one of Australia's largest privately owned cattle businesses has lodged plans for a new residential tower in <a href="https://www.apartments.com.au/developments/newstead-qld-4006">Newstead</a>, continuing the rapid transformation of one of Brisbane's most sought-after, inner-city precincts.

Bottletree Holdings, an entity associated with Stanbroke Managing Director Brendan Menegazzo, has submitted a development application for a 28-storey mixed-use tower at <a href="https://www.apartments.com.au/new-apartments/9-longland-street-newstead-qld-4006">9 Longland Street</a>, a site that made headlines last year when it changed hands in an off-market transaction that reportedly set a benchmark land rate for the suburb.

The proposal would replace an existing two-storey commercial building on the 1,510 sqm corner site with a Bureau Proberts-designed tower comprising 76 apartments, ground-floor retail, office space and a suite of resident wellness amenities.

<img alt="9 Longland" data-entity-type="file" data-entity-uuid="c710a836-568e-4382-bc91-3c34b8e80a8b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.41.45%E2%80%AFAM.png?VersionId=Vy.mQWBc7GA_a.vIBdxKqRC9XGjWalo2" />

According to planning documents lodged with Brisbane City Council, the development would comprise a mix of 36 two-bedroom apartments, 24 three-bedroom apartments and 16 four-bedroom residences, positioning the project firmly at the premium end of the market. The apartments would sit above a podium containing retail and commercial space, with three levels of communal recreation facilities spread throughout the tower. The proposal also includes 198 car spaces and 95 bicycle spaces.

Bureau Proberts has drawn heavily on Newstead's industrial heritage in developing the architectural response.

"Occupying a prominent corner in the heart of Newstead, the proposal draws from the area's industrial lineage of robust brick warehouses to deliver a distinctly contemporary response," the architects said in the design statement.

"It is conceived as a subtropical sanctuary and elevated private retreat embedded within one of Brisbane's most vibrant lifestyle precincts."

The design seeks to reinterpret the traditional Queensland vernacular through wraparound verandahs, deep shading elements and permeable facades that respond to Brisbane's subtropical climate.

<img alt="9 Longland" data-entity-type="file" data-entity-uuid="25524f59-395c-4825-8fad-9b639822fa8a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.42.09%E2%80%AFAM.png?VersionId=dlWlbpCc_g3Y6yTLGqRVKvGJvO2ubMJ3" />

Planning documents describe the building as embodying the principles of "buildings that breathe", a design approach increasingly favoured in Brisbane's apartment market as developers focus on natural ventilation and outdoor living spaces.

The tower itself would rise above a heavily landscaped podium designed to reference the woolstore architecture that helped define Newstead and neighbouring Teneriffe for generations. At ground level, fine-grain retail tenancies would activate Longland Street, Wyandra Street and the existing Wyatt Street laneway, further extending the pedestrian network that has become a hallmark of the Gasworks precinct.

The application notes that more than 54 per cent of the site would be dedicated to landscaping and deep planting, while approximately 1,750 sqm of communal recreation space would be delivered across multiple levels.

<img alt="Planning" data-entity-type="file" data-entity-uuid="fed3b189-1054-4b68-af5f-b0befc4a66e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.42.19%E2%80%AFAM.png?VersionId=gqeE3cjsbnLAfeTUKA1HtPZfqDs6S4Xa" />

Bottletree paid $22 million for the 1,510 sqm development site, equating to more than $14,500 per sqm, a reflection of the strong demand for development opportunities in Newstead. The suburb continues to attract both developers and buyers, underpinned by the ongoing evolution of the Gasworks and Teneriffe precincts into some of Brisbane's most sought-after lifestyle destinations.

Brisbane City Council's Sustainable Growth Strategy and Inner City Strategy both identify Newstead as a priority growth precinct capable of accommodating additional housing density due to its proximity to employment hubs, public transport and lifestyle infrastructure.

The proposed tower joins a growing pipeline of high-end apartment developments in the suburb. Fortis recently launched <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a>, a 65-apartment owner-occupier-focused development on Kyabra Street, while Consolidated Properties Group is preparing to launch <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a 227-apartment waterfront project on Skyring Terrace.

Meanwhile, builder-developer BPG is planning its own Newstead project on Maud Street, comprising just over 100 apartments and more than 1,380 sqm of dedicated wellness and resident amenity spaces, further highlighting the shift towards lifestyle-driven apartment developments in Brisbane's inner-city market.

Staff reporter

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