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The former Commonwealth Bank chief David Murray has expanded his Upper Hunter farm holdings.
He has spent a further $8.7 million in the Merriwa district.
His wagyu cattle station acquisition was once part of Brindley Park, the vast farm owned by pioneering pastoralist James Brindley Bettington in the 1800s.
It was 2013 when Murray first bought a slice of the historic estate with his $2.95 million outlay on The Dales homestead (above).
The sale ended 178 years of ownership across five generations by the pioneering farming family.
The Hunters Hill-based Murray also spent $4.7 million on another chunk of grazing land.
Now four years on his latest purchases of $2,263,000 and $6,479,000 takes his aggregation of the former Brindley Park estate to over $15 million.
MacCallum Inglis agent Michael Burke sold the latest offering on behalf of the vendors, the beef and lamb producer Crown State.
Crown State is ultimately controlled by Sherwell Holdings, a company based in the British Virgin Islands. It's directed by the Los Angeles-born, Rose Bay resident, Jon Choi.
Murray was the inaugural chairman of the Australian Government Future Fund Board of Guardians and served for six years.
Before the Future Fund, Murray was the chief executive officer of the Commonwealth Bank of Australia for 13 years.
During his tenure CBA transformed from a partly privatised bank with a market capitalisation of $6 billion in 1992 to a $49 billion integrated financial services company.
This article first appeared in the Sunday Telegraph.
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j.ballantyne1990-6AQqhLzZaK

David Murray buys more historic Merriwa farm holdings

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The last weekend of July saw another slight increase in preliminary auction clearance rate, according to CoreLogic’s latest report.
The combined capital city preliminary clearance rate was recorded at 70.7 per cent this week, up slightly from last week, when the final clearance rate was recorded at 69.9 per cent.
Auction clearance rates have seen a slight improvement across the combined capital cities over the month of July, with the final clearance rate over the last two weeks just falling short of the 70 per cent mark.
<a href="https://www.propertyobserver.com.au/images/2017/07/30/Screen%20Shot%202017-07-30%20at%2010.50.21%20am.jpg" target="_blank">Click to enlarge</a>
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Auction volumes were higher this week with 1,957 homes taken to auction across the combined capital cities, up from 1,748 last week, and higher than this time last year when 1,610 auctions were held.
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Perth and Tasmania were the only cities where auction volumes fell over the week.
There were 943 auctions held in Melbourne this week with a preliminary clearance rate of 77.2 per cent, increasing from a final clearance rate of 73.8 per cent last week across 833 auctions.
<a href="https://www.propertyobserver.com.au/images/2017/07/30/Screen%20Shot%202017-07-30%20at%2010.50.42%20am.jpg" target="_blank">Click to enlarge</a>
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Over the same week last year, Melbourne’s clearance rate was 75.3 per cent across 754 auctions. Of the 9 Melbourne sub-regions, 5 recorded clearance rates above 80.0 per cent, with the highest clearance recorded across the Mornington Peninsula, with preliminary results showing 87.2 per cent of the 39 results were successful, followed by the North West where 81.3 per cent of auctions cleared.
In Sydney, 704 properties were taken to auction this week with a preliminary clearance rate of 68.0 per cent.
Last week, the final clearance rate for the city was 70.3 per cent across 625 auctions, after sitting below the 70 per cent mark for the previous 6 weeks, so it will be interesting to see what the final clearance rate is like on Thursday.
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One year ago, 509 Sydney homes were taken to auction and the clearance rate was 78.0 per cent.
This week, the performance across Sydney’s individual sub regions was mixed. Across the South West region, where 47 of the 50 results have been reported so far, the preliminary clearance rate was 40.4 per cent, while across the Eastern suburbs (90.0 per cent) and Inner West (81.8 per cent) regions, the success rate of reported auctions was much higher.
There were 158 Brisbane homes taken to auction this week, with 116 results reported so far.
The preliminary clearance rate for the city is 53.4 per cent, up from 46.4 per cent last week and higher than one year ago, when 48.5 per cent of the 156 properties taken to auction were successful.
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Across the Gold Coast 34 results have been reported so far, with a success rate of 38.2 per cent.
This week, Adelaide saw a preliminary clearance rate of 64.3 per cent, with 56 reported results across a total of 80 scheduled auctions.
In comparison, over the previous week Adelaide’s clearance rate was 66.7 per cent and 68.8 per cent one year ago.
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There were 25 Perth auctions this week and so far 15 results have been reported, with 26.7 per cent selling.
Last week there was a 57.7 per cent clearance rate for Perth.
Canberra’s preliminary auction clearance rate of 74.4 per cent across 47 auctions is higher than both last week, when the final auction clearance rate was 71.8 per cent, and last year (74.3 per cent).
There were no auctions held in Tasmania this week.
In comparison, there were 4 auctions last week, with all 4 recording a successful result.
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Slight increase in late July preliminary auction clearance rate: CoreLogic

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A four bedroom period Bowen Hills house has been sold for $1.475 million making it Brisbane’s most expensive weekend auction sale.
Located at <a href="https://www.realestate.com.au/property-house-qld-bowen+hills-125858954" target="_blank">31 Cintra Road</a>, the home on the 810 sqm block had been held by the family for around nine decades.
It was sold for the first time since its construction in 1925.
It is situated on a corner block with two street access and is ready for renovation.
Original features are present throughout the property such as high ceilings and timber floors.
There are four bedrooms and two bathrooms along with a formal lounge and separate dining room.
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The kitchen has views and there is also a sitting room with direct access to the backyard.
The spacious veranda has lattice-work timber screens overlooking an expansive backyard.
Other feature includes undercover parking for four cars.
The property has views to Mt Coot-tha and is within walking distance to Gasworks, Emporium and James Street with all their shops, restaurants and public transport.
The property was offered through LJ Hooker agents Brett Greensill and Jermaine Jones.
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Four bedroom period Bowen Hills house sold for $1.475 million

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A four bedroom Newtown, NSW Victorian terrace listed with $3 million plus hopes sold on the weekend for $3,520,000 through Urbane Inner West.
Located at <a href="https://www.realestate.com.au/property-house-nsw-newtown-125790158" target="_blank">33 Georgina Street</a>, the 321 sqm property is situated high on Newtown’s dress circle opposite Hollis Park.
Built in 1885, it was bought in 2011 by Nikki and Benje Kemp for $2.37 million.
It had previously sold in 2001 for $1.35 million, 1999 for $1.065 million and $632,000 in 1994 and in 1987 for $220,000.
The living and dining rooms are warmed by marble gas fireplaces while the chef’s kitchen has it’s own gas cooktop as well as marble and timber finishes.
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The master suite features a dressing room, balcony and spa bath while the top level has space for a bedroom, ensuite and kitchenette.
The ground level self-contained apartment has its own private entrance and study.
Other features includes a deck, sandstone courtyard and garage.
The auction is on July 29 through Urbane Property agents Prue Holcombe and Charles Bailey.
A historic Newtown home has been listed with record setting $5 million plus hopes.
The 131-year-old home at 20-28 Munni Street goes to auction on August 19. 
 The 622-square-metre block is one of Newtown’s largest single landholdings. There is a four-bedroom, three-bathroom house built in 1876.
The house last traded in 1988 for $368,000.
Musician Lara Goodridge holds the record with her recent purchase of a terrace on Watkin Street Newtown for $3.8 million.
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Four bedroom Newtown terrace sold

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ASIC has started legal action in the Federal Court in Melbourne to wind up a land banking scheme known as the Realestate Equity Investment Trust (REIT) and an associated company, Timeline Project Management Pty Ltd (Timeline).
The REIT scheme owns land located at Flinders Avenue in Lara, Victoria.
ASIC understands that at least 82 investors have invested a total of at least $800,000 into the REIT scheme and that, since 2013, investors have been making payments in respect of their investment to Timeline.
Lotus Pty Ltd (in liquidation) was the responsible entity which managed the REIT scheme until 21 September 2016 at which time its Australian financial services licence was cancelled by ASIC for various compliance breaches.
It was placed into liquidation on 14 December 2016, on the application of a creditor.
ASIC alleges that REIT is operating as a managed investment scheme in circumstances where it has no responsible entity and no reasonable prospects of obtaining one.
The matter is listed for hearing at the Federal Court in Melbourne on 4 August, 2017 at 9.30am.
These proceedings are part of ASIC's wider and ongoing investigation into land banking schemes.
1. What steps has ASIC taken?
Following an investigation, ASIC started proceedings on 25 July, 2017 in the Federal Court of Australia to wind up:
<ul>
<li>Realestate Equity Investment Trust (ARSN 094 623 515) (REIT), and</li>
<li>Timeline Project Management Pty Ltd (ACN 145 830 851) (Timeline).</li>
</ul>
If ASIC's application is successful then liquidators will be appointed to REIT and Timeline.
2. Why did ASIC issue the proceedings?
REIT is a land banking scheme which owns land at 490 Flinders Avenue, Lara, Victoria, which was intended to be rezoned and developed.
ASIC understands that at least 82 investors have invested at least $800,000 in the REIT scheme.
Lotus Securities Pty Ltd (Lotus) was the former responsible entity of REIT.
On 21 September 2016, ASIC cancelled the Australian financial services license (AFSL) of Lotus due to a number of compliance concerns including failure to lodge financial statements for Lotus (for the years 2014 onwards) and REIT (for the years 2012 onwards). 
Lotus was not permitted to act as a responsible entity following the cancellation of its AFSL and no new responsible entity has been appointed.
Lotus is now in liquidation, having been wound up by the Court on 14 December 2016, on application by a creditor. 
ASIC understands that, since June 2013, investors have been making payments in respect of their investment to a bank account in the name of Timeline.
Timeline is not (and has never been) the responsible entity of REIT.
ASIC commenced these current proceedings to protect the interests of investors in the REIT scheme given ASIC’s allegations in the proceedings that, amongst other matters:
<ul>
<li>REIT has been operating despite it not having a validly appointed responsible entity as required under the Corporations Act 2001 (Cth) (the Act)</li>
<li>the REIT scheme appears to be unviable given that there has been no progress in developing the real estate investments of the fund since the initial fundraising</li>
<li>financial statements for REIT have not been prepared or lodged with ASIC since 2012, and</li>
<li>the interests of investors appear to be prejudiced due to the fact that they are still paying monies apparently into the scheme via a bank account held by Timeline.</li>
</ul>
3. What orders does ASIC want the Court to make?
ASIC is seeking orders from the Court to wind up, and to appoint liquidators to, each of REIT and Timeline.
The application is listed before the Court on 4 August, 2017.
4. Will investors get a refund?
ASIC is not seeking compensation or refunds for investors in these proceedings. 
However, if the Court orders the winding up of REIT and Timeline there may be a return to creditors as part of the liquidation process.
The realisation of assets and any distribution to investors will be undertaken by the liquidators appointed by the Court.
5. What rights do investors have?
ASIC is unable to advise investors as to any rights that they may have in relation to ASIC's application.
If investors wish to be represented at the hearing of ASIC's application, then they should seek legal advice.
Investors may also wish to seek independent legal and/or financial advice in relation to their investment in the REIT scheme.
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ASIC acts to wind up a land banking scheme

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The City of Sydney plans to relinquish or realign management of some of its property portfolio to deliver more affordable housing across the inner city and boost Oxford Street as a major business destination.
A report to be considered by Council recommends the City place several surplus operational and commercial properties on the market in 2017–2018.
This will result in more affordable housing units across the inner city and enable the City to meet the objectives in its 10-year capital works plan.
A second report recommends the City appoint a commercial partner to reposition three strategically located commercial Oxford Street properties for long-term lease.
The reports come with the impending closure of three City depots at Zetland, Redfern and Alexandria in conjunction with the opening of a new major southern depot at Alexandra Canal.
Operational properties proposed to be placed on the market include:
<ul>
<li>94–106 Epsom Rd, Zetland (Epsom Road Depot)</li>
<li>11 Gibbons Street, Redfern (Redfern Depot)</li>
<li>36 Gerard Street, Alexandria (Alexandria Depot).</li>
</ul>
If the report is adopted, the City will enter negotiations with affordable housing providers for the sale of the Redfern depot site, with the potential for more than 100 affordable housing units.
Commercial properties to be placed on the market include:
<ul>
<li>Stockton House, 73–75 William Street, East Sydney</li>
<li>545–549 South Dowling Street, Moore Park</li>
<li>90 Regent Street, Redfern.</li>
</ul>
Lord Mayor Clover Moore said commercial property was a major revenue stream, elevating the City to a strong, debt-free financial position.
“The strategic management of our property portfolio has enabled the City to provide some of the best parks, public spaces, facilities, infrastructure, events and services of any local government area in Australia,” the Lord Mayor said.
“The sale of surplus operational and commercial land will enable us to further invest in our City’s future, while helping to provide affordable housing in Redfern, which is so urgently needed now.
“Our commercial property portfolio generates more than $63 million of rental revenue each year.
"We’re looking to increase that revenue further to help meet the demands of our booming population.
“The Redfern depot has been earmarked as an appropriate affordable housing site for some time.
"The sale of this property will provide more housing options for key workers such as teachers, nurses, police, firefighters and social workers.”
Proceeds from the sale of 545–549 South Dowling Street will be set aside in the community properties reserve, given the building’s origins as a community activity centre.
The proposal to identify a partner for a long-term lease on three Oxford Street properties comes following two unsolicited proposals in late 2016.
The properties – located at 56–76 Oxford Street, 82–106 Oxford Street and 110–122 Oxford Street (both above) – have a combined lettable area of more than 12,000 square metres.
“These properties are in a strategic location and have enormous potential, but they need significant capital investment that would place a huge strain on the City’s financial resources,” the Lord Mayor said.
“We have a great opportunity to explore alternative opportunities with the private sector and secure a long-term lease, similar to the arrangement we have with the QVB and the Capitol Theatre.
“Late last year, we received two unsolicited offers on this site and we are keen to explore these options and look at ways to further revitalise Oxford Street.
“The realignment of these properties could prove to be the catalyst for the transformation of Oxford Street.
“Oxford Street isn’t the CBD or a suburban shopping centre. It’s been home to an eclectic mix of unique and independent operators for decades.
"Although it needs a financial boost, it must maintain its authenticity.
“We’ve made great strides with our Oxford Street creative spaces program, where 22 cultural and creative businesses pay low rent to use our properties.
"A key objective of this report is to integrate these cultural spaces into a future redevelopment.
“We want to find a commercial partner that shares our vision for a modern Oxford Street, harnessing all the positive elements of the retail strip’s past and revitalising these spaces for an even brighter future.”
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Sydney Council to offload three depots amid big property selloff

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<img src="https://counter.theconversation.edu.au/content/80314/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Icebergs breaking off Antarctica, even massive ones, do not typically concern glaciologists. But the impending birth of a new massive icebergcould be more than business as usual for the frozen continent. 
The Larsen C ice shelf, the fourth-largest in Antarctica, has attracted worldwide attention in the lead-up to calving an iceberg one-tenth of its area – or about half the area of greater Melbourne. It is still difficult to predict exactly when it will break free.
But it’s not the size of the iceberg that should be getting attention. Icebergs calve all the time, including the occasional very large one, with nothing to worry about. Icebergs have only a tiny direct effect on sea level. 
The calving itself will simply be the birth of another big iceberg. But there is valid concern among scientists that the entire Larsen C ice shelf could become unstable, and eventually break up entirely, with knock-on effects that could take decades to play out.
Ice shelves essentially act as corks in a bottle. Glaciers flow from land towards the sea, and their ice is eventually absorbed into the ice shelf. Removal of the ice shelf causes glaciers to flow faster, increasing the rate at which ice moves from the land into the sea. This has a much larger effect on sea level than iceberg calving does.
While the prediction that Larsen C could become unstable is based partly on physics, it is also based on observations. Using aerial and satellite images, scientists have been able to track very similar ice shelves in the past, some of which have been seen to retreat and collapse. 
<h2>The death of an ice shelf</h2>
The most dramatic ice shelf collapse observed so far is that of Larsen C’s neighbour to the north – the imaginatively named Larsen B. Over the course of just six weeks in 2002 the entire ice shelf splintered into dozens of icebergs. Almost immediately afterwards, the glaciers feeding into it sped up by two to six times. Those glaciers continue to flow faster to this day. 
In our new study, published in Earth and Planetary Science Letters, we turn the clock back even further to look at the Wordie ice shelf, on the west coast of the southern Antarctic Peninsula, which began to retreat in the 1960s and eventually disappeared in January 2017. 
Over the past 20 years, observations have shown that the main glacier feeding into the Wordie ice shelf, the Fleming Glacier, has sped up and thinned. Compared with the glaciers feeding Larsen B and C, Fleming Glacier is massive: 80km long, 12km wide, and 600m thick at its front.
<a href="https://www.propertyobserver.com.au/images/2017/07/28/file-20170705-16510-iymhsl.gif" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/07/28/file-20170705-16510-iymhsl.gif" alt="">
<div class="enlarge_hint">
Locations of the Larsen C Ice Shelf and the Wordie Ice Shelf-Fleming Glacier system with ice front positions from 1947 to 2016. Author provided
</div>
We used historic aerial photographs from 1966 to create an elevation map of the Fleming Glacier, and compared it to elevation measurements from 2002 to 2015. Between 1966 and 2015 the Fleming Glacier thinned by at least 100m near the front. The thinning rate, which is the elevation change rate, rapidly increased: the thinning rate after 2008 is more than twice that during 2002 to 2008, and four times the average rates from 1966 to 2008.
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<img src="https://www.urban.com.au/images/2017/07/28/file-20170629-5317-1j5zalo.png" alt="">
Ice thinning rate of the Fleming Glacier region during (a) 2002-2008 and (b) 2008-2015. Author provided
Ice flow speeds have also increased by more than 400m per year at the front since 2008. This is <a href="https://www.the-cryosphere-discuss.net/tc-2017-75/">the largest speed change in recent years of any glacier in Antarctica</a>. These changes all point to ice shelf collapse as the cause.
We estimate the total glacier ice volume lost from all glaciers that feed the Wordie is 179 cubic kilometres since 1966, or 319 times the volume of Sydney Harbour. The weight of this ice moving off the land and into the ocean has caused the bedrock beneath the glaciers to lift by more than 50mm. 
Other research has suggested this lift could have acted to slow the glacier’s retreat, but it’s clear that the bedrock deformation has not stopped the ice movement speeding up. It seems the Fleming Glacier has a long way to go before it will return to a new stable state (in which snowfall feeding the glacier equals the ice flowing into the oceans).
Fifty years after the Wordie Ice Shelf began to collapse, the major feeding glaciers continue to thin and flow faster than before. 
We can’t yet predict the full consequences of the new iceberg calving from Larsen C. But if the ice shelf does begin to retreat or collapse, history tells us it is very possible that its glaciers will flow faster – making yet more sea level rise inevitable.
<a href="https://theconversation.com/profiles/chen-zhao-382317" target="_blank">Chen Zhao</a> is PhD candidate of Antarctic Science, University of Tasmania
<a href="https://theconversation.com/profiles/christopher-watson-159793" target="_blank">Christopher Watson</a> is Senior Lecturer, Surveying and Spatial Sciences, School of Land and Food, University of Tasmania.
<a href="https://theconversation.com/profiles/matt-king-15004" target="_blank">Matt King</a> is Professor, Surveying &amp; Spatial Sciences, School of Land and Food, University of Tasmania.
All are authors for <a href="https://theconversation.com/au" target="_blank">The Conversation</a>.
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Don’t worry about the huge Antarctic iceberg – worry about the glaciers behind it

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Werribee in Victoria will be the busiest suburb for auctions across the nation this weekend, with 18 properties scheduled to go to auction, followed closely by Reservoir (14), Frankston (13) and Elwood (12), all of the busiest suburbs this week are in Victoria.
Auction volumes are set to remain steady for another week, with 1,787 properties scheduled to go to auction this week across the combined capital cities, according to CoreLogic.
Over the last three weeks, auction activity has remained relatively sedate, with this week expected to increase by only two per cent when compared to last week’s final results (1,748).
Looking at the two major auction markets of Melbourne and Sydney, volumes are set to increase over the week, with 862 homes scheduled to go under the hammer in Melbourne, and 647 auctions scheduled across Sydney, increasing on last week’s 833 and 625 auctions held respectively.
Across the smaller auction markets, Adelaide and Brisbane will see an increase in auction activity over the week, while Canberra, Perth and Tasmania will see a lower volume of auctions scheduled this week compared to last week.
The total number of homes scheduled to go to auction this week is higher than what was seen over the same week last year (1,610).
A three bedroom house at <a href="https://www.realestate.com.au/property-house-vic-werribee-125783266" target="_blank">28 Purchas Street</a>, Werribee (above) will go under the hammer this weekend with price guidance between $395,000 to $430,000.
A four bedroom house at <a href="https://www.realestate.com.au/property-house-vic-werribee-125893210" target="_blank">2 Eldan Drive</a>, Werribee (below) will go under the hammer with $440,000 hopes.
<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/2017/07/27/2%20Eldan%20Drive.jpg" alt="">
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Werribee ranks as weekend's busiest auction locality

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Savills Melbourne has just sold another major Box Hill property suitable for high-rise residential development.
It sold to a local developer with Chinese connections. 
The property at 843 Whitehorse Road, corner Wellington Road, in central Box Hill is currently used as a BP petrol station.
It will likely be developed for high-rise residential or hotel use.
According to Savills’ Clinton Baxter, who brokered the deal with colleagues Nick Peden and Jesse Radisich, the property sold at a price of $22,550,000 representing a land rate of $11,400 per square metre.
Zoned Commercial 1 and recently added to Box Hill’s “Major Development Precinct” giving it a huge uplift in development potential, the 1972 square metre site benefits from a corner position and uninterrupted views towards the CBD.
Mr Baxter said the property had been the focus of intense interest from numerous local and Asia-based developers seeking to secure the site for development, with the long-term owner ultimately electing to accept a compelling offer made in private negotiations.
<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/2017/07/27/76186_markup.jpg" alt="">
“Box Hill is the most dynamic and rapidly evolving suburb of Melbourne – the transformation occurring currently is absolutely breath-taking.  Within 3-5 years, Box Hill will have a more impressive skyline than some capital cities such as Hobart or Canberra” Mr Baxter said.
Mr Peden said that “with most major sites throughout Box Hill having been sold to developers over the past 2 years, a genuine shortage of suitable sites for high-rise development is starting to occur, pushing up land value throughout the suburb.”
He said the location in close proximity to Box Hill Central Shopping Centre and Railway Station, Box Hill Institute and Box Hill Hospital were attributes which would enhance the prospects of the future redevelopment of the property. 
The vendor was a local private family that had held the property for an extended period.
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Developer snaps up major site in dynamic Box Hill for $22.55 million

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The trophy home, Earlswood at Randwick, has been listed by lawyers Caroline and Michael Williams.
The residence was built in 1891 for commissioner for stamp duty Richard Johnson.
It boasts frescoes painted in the late 1890s by Italian artist-decorator Augusto Lorenzini, which are touted as the last surviving example of his work in a domestic setting.
Lorenzini, born in Rome in 1852, arrived in Australia in 1883 after working in London and Paris as a decorative artist. His early works included the reliefs on the Pitt Street facade of the GPO.
Lorenzini retreated by the mid-1890s to fruit-growing obscurity at Castle Hill, where he died in 1921. Earlswood's initial restoration was undertaken by the Leal family after they paid $780,000 in 1991.
The Leals sold imposing Ductruc Street house for $1.6 million in 1999 to Hamish and Jane Clark, the proprietors of Pazotti Tiles + Stone, with those sales through then McGrath agents James Dack and Ben Collier.
The Williams family bought the Dutruc Street residence in 2010 for $4.3 million.
They undertook an extensive three year restoration and renovation that included dismantling and rebuilding the ornate verandas with cast iron filigree work.
There been a contemporary wing using steel, glass and marble panels with a north-facing atrium added since the last sale.
It is up for August 26 auction with a guide of $5 million to $5.5 million.  
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Randwick's boomtime Earlswood for August auction 

A trio of Queensland property groups have unveiled plans for a $300 million mixed-use redevelopment of the former Noosa Bowls Club site, a proposal that would deliver more than 200 new homes in one of the Sunshine Coast's most supply-constrained markets.

Kilter Property, Frank Developments and Calile Malouf Investments are behind the plans for the 1.8-hectare site at <a href="https://www.apartments.com.au/new-apartments/99-noosa-drive-noosa-heads-qld-4567">99 Noosa Drive</a>, which would transform the long-vacant site into a new residential precinct featuring 208 apartments, retail, hospitality and public space.

The proposal comes as Noosa continues to grapple with housing affordability and a shortage of permanent accommodation, particularly for key workers. The site's location in Noosa Junction, close to shops, public transport and employment, aligns with the direction of Noosa Council's Housing Strategy, which encourages higher-density housing within established activity centres rather than continued urban expansion.

The draft plans include 48 affordable-by-design apartments and 48 rooming accommodation units aimed at key workers. Around 2,000 sqm of ground-floor retail and food and beverage space would activate the street frontage, alongside a new public town square and landscaped open space.

<img alt="Noosa" data-entity-type="file" data-entity-uuid="2dd02f53-1360-4e51-801e-bfd61a6c980e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-26%20at%208.44.34%E2%80%AFPM.png?VersionId=x1iNs3BSMN6Jy7YUwaBZMHRrrKX2hMpy" />

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Frank Developments Founder and Director Frank Licastro said the development would continue the company's focus on architecturally-led residential projects while addressing one of the region's biggest challenges.

"Not only will this project exude a sense of luxury, it will also enhance not only the built environment but also the surrounding community," Licastro said.

"Noosa's success relies on the people who live and work here. Providing well-designed accommodation for key workers is critical to supporting the local economy and ensuring the Shire can continue to thrive."

Kilter Property Co-Founder Huw Williams said the focus was on delivering additional permanent housing while creating a mixed-use destination that benefits both residents and the wider community.

"Our focus is on delivering a well-considered mixed-use project that provides more permanent housing options, supports local workers and businesses, and delivers an exceptional product for the local market," Williams said.

"The redevelopment vision aligns with the long-term evolution of Noosa Junction as a vibrant activity centre, creating a destination that enhances the area's character while delivering significant economic and community benefits."

Calile Malouf Investments, best known for its role in Brisbane's James Street precinct and The Calile Hotel, will bring its place-making experience to the project. The company recently commenced construction on The Calile Noosa hotel and says the residential development will complement its growing investment in the region.

CMI Director Cal Malouf said the aim was to create a walkable precinct combining housing, retail and hospitality while remaining true to Noosa's character.

"We see a similar opportunity in Noosa to deliver a vibrant, walkable destination that combines exceptional housing, hospitality and retail in one integrated project," Malouf said.

Brisbane-based Cavill Architects has been appointed to design the project.

Joel Robinson

Noosa Bowls Club to be redeveloped into mixed-use apartment precinct

One of Brisbane's last major riverfront redevelopment opportunities has taken a significant step forward, with Lendlease selected as the Queensland Government's preferred development partner for the former Visy site in South Brisbane.

The seven-hectare industrial site, positioned between South Bank and West End and 1.3 kilometres from the Brisbane CBD, will be transformed into a mixed-use precinct expected to deliver more than 4,000 new homes alongside extensive public open space and riverfront parkland.

The project is one of the largest urban renewal opportunities currently planned in Brisbane and is expected to play a key role in accommodating the city's growing population ahead of the 2032 Olympic and Paralympic Games.

Plans for the precinct include a network of riverfront promenades and boardwalks, new public plazas, parkland, amphitheatre-style gathering spaces and shared pedestrian and cycling links designed to reconnect the long-isolated site with the Brisbane River.

The Queensland Government is targeting delivery of the first homes and key public spaces before the 2032 Games, allowing the precinct to begin contributing new housing and public amenity well before the broader masterplan is complete.

The redevelopment is also expected to support more than 3,000 jobs across planning, construction and ongoing operations.

For Lendlease, the appointment adds another major urban regeneration project to its Queensland portfolio. The developer has operated in the state for more than 70 years and has delivered a number of large-scale mixed-use precincts in partnership with government.

Lendlease Development CEO Claire Johnston said the project represented one of Brisbane's most significant redevelopment opportunities.

"The transformation of the former Visy site represents a rare opportunity to reimagine one of Brisbane's most significant riverfront locations, deliver thousands of much-needed homes, and create long-term legacy," Johnston said.

"In partnership with the Queensland Government, we have the opportunity to create a new riverside destination that will help shape Brisbane's growth and how people experience the city for decades to come.

"This is exactly the type of large-scale, city-shaping development that will provide lasting benefits for Queensland, bringing together housing, jobs and world-class public spaces."

Deputy Premier and Minister for State Development, Infrastructure and Planning Jarrod Bleijie said the riverfront transformation would deliver a thriving new community precinct.

“The Crisafulli Government is delivering this golden opportunity to unlock a riverfront jewel for all Queenslanders,” Deputy Premier Bleijie said.

“This is a once-in-a-generation moment to reshape a significant slice of Brisbane and deliver lasting benefits – thousands of new homes, and public spaces for all Queenslanders to enjoy well beyond the 2032 Olympic and Paralympic Games – unlike Labor’s plan which would have delivered zero benefits and zero new homes.

“Queensland is well and truly open for business and through partnership with the private sector, we are accelerating delivery while ensuring strong housing, community and economic outcomes."

Early works on the precinct are expected to commence in April 2027.

Lendlease selected to deliver transformative South Brisbane riverfront precinct

Eddy Haddad's <a href="https://www.apartments.com.au/developers/level-33">Level 33</a> is levelling up its approved Wollongong development, as the coastal city south of Sydney continues to prove popular in the high-density development space.

Level 33, a longtime developer in the Wollongong area, has gone through the NSW Government's Housing Delivery Authority to upsize its approved two-tower development on the corner of Crown Street and Gladstone Avenue, just 100 metres from Wollongong Station.

The developer currently has approval for 252 apartments across two buildings rising to 19 storeys. It is now seeking approval for 33 and 38-storey towers that would deliver 467 apartments, including 67 affordable homes.

Designed by <a href="https://www.apartments.com.au/architects/bka-architecture">BKA Architecture</a>, the development would comprise apartments above a three-level podium with around 1,100 sqm of retail space, along with basement parking for 448 vehicles.

According to the Urban Design Report by BKA, the proposal has the capacity to "reinforce the precinct's identity by strengthening links between health, education, and transport services, while also contributing to Wollongong's ongoing evolution as a key regional centre."

Wollongong is somewhat in vogue. Between Level 33 and Urban Property Group, the two developers have several thousand apartments planned across the city.

Level 33 is currently delivering Easterly Wollongong, one of its most boutique projects to date with just 21 high-end apartments, as well as Atchison &amp; Kenny, a 329-apartment development due for completion later this year.

The developer plans to redevelop the 13,088 sqm WIN Grand megasite into <a href="https://www.apartments.com.au/new-apartments/crown-square-216-238-keira-street-wollongong-nsw-2500">Crown Square</a>, a new $500 million precinct with nearly 600 apartments. It also has more than 900 apartments planned for the former Bunnings Warehouse site at the intersection of Gipps and Flinders streets.

Urban Property Group is also playing a major role in the city's transformation. Its five-tower Keira Place precinct will deliver more than 800 homes, and it has recently lodged plans for a further 300 apartments near Wollongong Station.

First look: Level 33 upsizes Wollongong apartment towers

Just a week after filing plans for the final stage of its major Keira Place masterplan, <a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has unveiled another significant housing proposal in Wollongong, this time targeting a prominent site opposite North Wollongong Station.

The developer has lodged a State Significant Development Application for a 38-storey mixed-use tower at <a href="https://www.apartments.com.au/new-apartments/4-4a-flinders-street-north-wollongong-nsw-2500">4-4A Flinders Street</a>, around one kilometre north of the <a href="https://www.apartments.com.au/new-apartments/keira-place-wollongong-120-122-smith-street-wollongong-nsw-2500">Keira Place precinct</a> currently taking shape on the edge of the CBD.

<img alt="First look: Urban Property Group plans 38-storey North Wollongong tower as Keira Place expansion gathers pace" data-entity-type="file" data-entity-uuid="2b6428f1-6405-4038-8476-897de440e90d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/flinders%20podium.png?VersionId=QLqEvK0OuCEwRC47oHNftrw2B1YqaHF8" />

Designed by Studio.SC, the proposal comprises a 38-storey mixed-use development containing 303 apartments, including 45 affordable housing units, alongside 174 co-living residences. The scheme also includes ground-floor retail space, extensive landscaping and public domain improvements.

Studio.SC noted in the proposal it "outlines a vision for a landmark transit-oriented mixed-use development centred around North Wollongong Station, designed to support the city’s future growth while responding to the NSW Government’s housing and planning reforms."

The architecture firm said the proposal responds to the opportunities and constraints shaping future growth within the 400-metre catchment of the station and represents "a coordinated and future-focused approach to urban intensification, contributing to the long-term evolution of North Wollongong as a connected, walkable and high-density station precinct."

The site occupies a strategic corner bounded by Flinders Street, Station Street, Stafford Street and the Princes Highway, directly opposite North Wollongong Station.

<img alt="First look: Urban Property Group plans 38-storey North Wollongong tower as Keira Place expansion gathers pace" data-entity-type="file" data-entity-uuid="7863adad-1f71-4022-b850-f44b252738fd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/flinders%20podium%20a.png?VersionId=WsU7av0g8_8R2tGHWxgHeFSlhu7yeY1V" />

The proposal follows Urban Property Group's recent submission for the second and final stage of Keira Place, which would deliver a further three buildings comprising 657 homes opposite Beaton Park. It builds on the first stage, which features 150 apartments across two towers and recently commenced construction.

Urban Property Group CEO Patrick Elias said breaking ground on the first stage marked a significant milestone for Wollongong and reflected the developer's long-term commitment to regional cities.

"Today's groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong's city centre," Elias said.

"Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection."

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/urban-property-group-unveils-trio-of-towers-for-next-stage-of-new-wollongong-precinct-keira-place">Urban Property Group unveils trio of towers for next stage of new Wollongong precinct, Keira Place</a>

First look: Urban Property Group plans next major Wollongong tower

<a href="https://www.apartments.com.au/developers/arada">Arada Australia</a> has wasted little time expanding its ambitions in Campsie, lodging plans for a second major project in the rapidly transforming town centre just months after unveiling its three-tower One Campsie proposal on Beamish Street.

The UAE-backed developer has now taken aim at one of the suburb’s most strategically positioned sites, filing a State Significant Development Application for a <a href="https://www.apartments.com.au/new-apartments/10-north-parade-campsie-nsw-2194">33-storey mixed-use tower</a> at 10 London Street and 43 North Parade, directly opposite the future Campsie Metro Station. The proposal is currently on public exhibition and represents another significant vote of confidence in Campsie's emergence as one of Sydney’s key transit-oriented growth centres.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the development would deliver 156 apartments above a podium containing retail and commercial space, creating a new residential and commercial gateway to the town centre. The scheme also includes a four-level above-ground parking podium and a dedicated residential amenity floor featuring wellness and recreation facilities. At least 10 per cent of the apartments would be allocated as affordable housing for a period of 10 years.

The proposal occupies a 1,631 sqm site bounded by London Street, North Parade and Dispensary Lane, immediately adjoining the future Metro station precinct and just metres from Beamish Street’s retail and dining strip. According to the Urban Design Report, the project seeks to deliver "a great place that prioritises human-scaled experience and provides spatial improvements to the area."

<img alt="First look: Arada doubles down in Campsie with 33-storey Metro-front tower plans" data-entity-type="file" data-entity-uuid="175a8324-015b-4856-abe3-ce6f23199fa7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium%20campsie.png?VersionId=742UGwXFhFBX4GEl6wX4PYIWREAgn6il" />

Woods Bagot describes the tower as a key marker within Campsie's next phase of growth.

"Located directly opposite the new Campsie Metro Station on North Parade, 10 London Street is a thoughtfully composed 33-storey mixed-use tower that contributes to the ongoing transformation of the town centre," the Architectural Design Report states. The report says the project is intended to provide "high-quality homes within a vibrant, connected urban environment, while helping define Campsie's future skyline."

A strong emphasis has been placed on the public realm. The ground floor incorporates over 500 sqm of retail space and active frontages along both London Street and North Parade, while the podium is wrapped by extensive landscaped planting intended to soften the building's scale and strengthen the pedestrian experience. The development would also widen surrounding footpaths and improve connections between the Metro station and the broader town centre.

Above the podium, residents would have access to more than 1,400 sqm of communal amenities, including a pool, gym and landscaped recreation spaces. A distinctive green-wall treatment extending across four podium levels forms a major architectural feature, helping differentiate the project within the emerging high-density precinct.

The tower's design is closely tied to the broader Campsie Town Centre Master Plan and the arrival of Sydney Metro. The Urban Design Report notes the proposal "directly supports the Campsie Town Centre Master Plan by delivering new homes in a location explicitly identified for growth, improved accessibility, and high-quality urban renewal." It adds that the project contributes to the master plan's vision for a strengthened town centre supported by thousands of new homes around the future Metro station.

<img alt="First look: Arada doubles down in Campsie with 33-storey Metro-front tower plans" data-entity-type="file" data-entity-uuid="bfd17654-253e-489a-bade-6278d63db412" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/base%20campsie.png?VersionId=3roJPMQGs36dazpkhvpvbDDP73Ld.Ica" />

The application follows Arada Australia's recently lodged One Campsie project at 124–142 Beamish Street and 16–18 Ninth Avenue, where the developer is seeking approval for 346 apartments across three towers rising 24, 32 and 39 storeys. Together, the two proposals would cement Arada Australia as one of the most influential developers shaping Campsie's future urban form.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-arada-files-for-trio-of-apartment-towers-in-campsie-town-centre">First Look: Arada Australia files for trio of apartment towers in Campsie town centre</a>

Arada Australia entered the Australian market in 2024 and has rapidly assembled a significant development pipeline across Sydney. Alongside its Campsie holdings, the developer is soon to launch <a href="https://www.apartments.com.au/new-apartments/wattle-green-2-fishburn-crescent-castle-hill-nsw-2154">Wattle Green</a> in Castle Hill, and has expanded its local operations following its acquisition of construction firm Roberts &amp; Co.

Located around 14 kilometres south-west of the Sydney CBD, the site sits at the centre of one of Sydney's fastest-changing middle-ring precincts. The Metro conversion of Campsie Station, combined with Canterbury-Bankstown Council's master planning framework, is driving significant residential intensification around Beamish Street and North Parade, with thousands of new homes expected over coming decades.

Staff reporter

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