<a href="https://www.apartments.com.au/new-apartments/smith-by-valli-collingwood-224-228-smith-street-collingwood-vic-3066">Smith Collingwood</a> is a new boutique apartment development bringing a refined, design-led approach to one of Melbourne’s most established inner-city neighbourhoods.

Designed by <a href="https://www.apartments.com.au/architects/pandolfini-architects">Pandolfini Architects</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/lisa-buxton-interiors">Lisa Buxton</a>, Smith by Valli sits on iconic Smith Street and comprises just 22 residences tailored toward owner-occupiers seeking a more considered style of apartment living.

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The design of Smith focuses on a north-facing orientation across all residences, a relatively uncommon feature in dense inner-Melbourne settings. Each apartment has been planned to maximise natural light and outlook, alongside a material palette defined by warm tones, custom joinery, and a full suite of Gaggenau appliances.

The development comprises a mix of one, two, and three-bedroom apartments, with pricing currently ranging from just under $1 million to around $4.85 million for the premium penthouse-level residences, reflecting growing demand for luxury owner-occupier product in Melbourne’s inner urban market.

Residents will also have access to a private rooftop garden designed as an elevated retreat above the city, &nbsp;featuring curated landscaping, veggie boxes, intimate seating areas and spaces for relaxed gatherings. Sustainability has also been integrated into the project through a 7-star energy rating and two secure bicycle facilities for every residence.

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Smith by Valli sits in the heart of one of Melbourne’s most established retail and hospitality strips, within walking distance of venues such as Falco Bakery, Carnation Canteen and Alimentari, alongside parks and everyday services. With a Walk Score of 99, the location reinforces the project’s positioning toward buyers prioritising walkability and access over car dependency.

With only a limited number of residences, Smith reflects growing demand for smaller, highly curated apartment developments that prioritise design quality, liveability, and connection to neighbourhood character.

[smartcode_project_cta:default project_id=140747]

Joel Robinson

Smith by Valli delivers design-led apartments to Melbourne’s inner north

<a href="https://www.urban.com.au/developers/far-east-consortium">Far East Consortium</a>’s 640 Bourke Street stands as a testament to&nbsp;<a href="https://www.urban.com.au/developments/melbourne-vic-3000">Melbourne</a>’s ability to bridge its storied past with a bold vision for the future.&nbsp;

Rising above the heritage-listed Eliza Tinsley building, the development reflects a broader shift toward adaptive reuse in the city, where historical assets are retained and reinterpreted as part of new residential development.

Designed by <a href="https://www.urban.com.au/architects/rothelowman">Rothelowman</a>, <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> incorporates the Eliza Tinsley building as its foundation, housing a grand gallery and lobby space that serve as both a functional and symbolic centrepiece. The heritage façade informs the tower’s design, creating a connection between Melbourne’s past and its contemporary skyline.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

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Above this historic base, the 68-storey tower will deliver just over 600 residences, a notable reduction from earlier schemes, reflecting a deliberate move toward larger-format apartments and a stronger owner-occupier focus.

Unlike traditional CBD developments that prioritised investor stock, 640 Bourke Street has been repositioned to respond to changing buyer expectations.

"The discussion was all around making 640 Bourke Street the best residence to live in, to be much more focused on the people in the building rather than people looking at the building," Marsland explained.&nbsp;

This shift is evident in the development’s interiors, which emphasise practical luxury with spacious layouts, high ceilings, and floor-to-ceiling windows framing sweeping views of Melbourne and Port Phillip Bay.&nbsp;

“What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Lauren Sheldon, Far East Consortium’s Director of Sales and Marketing, said.&nbsp;

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Rothelowman Associate Jun Chang added, "We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."&nbsp;

Amenities spanning more than 3,000 sqm across multiple levels further reinforce this focus on resident experience. These include a pool, gym, co-working areas, and a range of hospitality-inspired spaces such as a whisky lounge, library, and private dining rooms, many drawing reference from traditional bathhouses and Melbourne’s laneway culture.

"We wanted to make both the pool and the gym area to be absolutely destinational, and when you traverse across to these spaces, there is a gentle familiarity to the beautiful notions of the hammams and the Roman baths, a gentle nod to history," Chang noted.

At street level, the project contributes to the ongoing transformation of the western CBD, with upgrades to Langs Lane and the introduction of retail, hospitality, and gallery spaces designed to activate the precinct and strengthen its connection to the surrounding city fabric.

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The location places residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market, and the Docklands waterfront, positioning the development within a rapidly evolving inner-city neighbourhood.

"We believe it's the best site left in the city of Melbourne," Craig Williams, Executive Director at Far East Consortium, said.&nbsp;

640 Bourke Street is Far East Consortium’s 14th building in Melbourne’s western CBD.

"A very elegant designed building. It's going to be a Melbourne statement for many, many years to come."

One-bedroom apartments are priced from around $640,000, with 640 Bourke Street targeting completion in 2029.

Renders shown are Artist's Impressions correct as of May 2026.

[smartcode_project_cta:default project_id=509]

Heritage-led design anchors Far East Consortium’s 640 Bourke St, Melbourne

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD Group</a> has set a new residential price record in Queensland with the $30 million sale of the penthouse at its <a href="https://www.apartments.com.au/new-apartments/one-burleigh-88-the-esplanade-burleigh-heads-qld-4220">ONE Burleigh</a> development in Burleigh Heads.

The sale equates to around $37,500 per sqm.

The two-level, 800 sqm penthouse, featuring five bedrooms, five bathrooms, five car spaces, and a private infinity pool overlooking the Pacific Ocean, was acquired by a Gold Coast-based entrepreneur, highlighting continued demand for ultra-premium beachfront product.

Selling agent Freddie Tehle of PRD Burleigh Heads said the result reflects tightening supply of high-quality, large-format apartments in Burleigh.

“There’s very limited opportunity to secure this level of scale and absolute beachfront position in <a href="https://www.apartments.com.au/developments/burleigh-heads-qld-4220">Burleigh Heads</a>,” Tehle said.

“Buyers are increasingly seeking apartments that genuinely replace a standalone home, and this penthouse delivers that with its size, privacy, and direct ocean frontage.”

[smartcode_project:default project_id=146358 project_image_fid=323057]

The sale comes as construction progresses on ONE Burleigh, a boutique development of 17 full-floor residences at 88 The Esplanade, scheduled for completion in early 2027.

Developed by MAYD Group and designed by <a href="https://www.apartments.com.au/architects/mas-architecture-studio">MAS Architecture</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/sici-design">Sici Design</a>, the project has been positioned as a collection of house-sized beachfront apartments, each occupying an entire floor with around 381 sqm of internal and external living space.

When construction commenced, MAYD director Todd Mould pointed to the long-term resilience of premium coastal real estate as a key driver behind the project.

“Real estate, particularly at the premium end, remains one of the most resilient and proven long-term investment avenues,” Mould said.

“Our ambition is that anyone who buys a MAYD-built product can genuinely feel the care, craftsmanship and commitment we bring to every detail.”

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Each residence has been configured with four bedrooms, multiple living zones, a private office, and expansive ocean-facing terraces. Interiors draw on a restrained material palette, including travertine stone, timber joinery, and integrated premium appliances.

Interior designer Sici Design said the approach was to reflect the project’s coastal setting through both materiality and spatial planning.

“ONE Burleigh is our vision of luxury living, designed to bring the essence of Burleigh Heads' vibrant coastal beauty into an unparalleled residential experience.”

Residents will have access to a suite of wellness-focused amenities, including pools, sauna facilities, and dedicated relaxation spaces, reflecting a broader shift toward lifestyle-driven apartment design on the Gold Coast.

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The project occupies a southern Esplanade site with uninterrupted beachfront frontage, an increasingly rare offering in Burleigh Heads, free from the Norfolk Pines that line much of the coastline and often limit direct ocean outlook.

Mould said the design intent was to balance that outlook with a sense of retreat.

“Living at ONE Burleigh is about how your day naturally unfolds, morning light across the ocean, coffee on the balcony, and being in Burleigh but elevated above the noise.”

The result further reinforces Burleigh Heads’ emergence as one of the Gold Coast’s most tightly held and supply-constrained beachfront markets, where boutique, owner-occupier-focused developments are increasingly setting new price benchmarks.

[smartcode_project_cta:default project_id=146358]

MAYD Group sets Queensland record with $30 million penthouse sale at ONE Burleigh in Burleigh Heads

Apartment developers in the Gold Coast are finding new, creative ways to differentiate themselves from competing projects, as new supply starts to flow through up and down the Coast.

Developer BIG Projects brought in the renowned Sydney-based design studio YSG Studio to craft the interiors for The Frederick, BIG Projects' new Mermaid Beach project and YSG Studio's first move into the multi-residential development space.

[smartcode_project:default project_id=110588 project_image_fid=5346]

It was a strategic move for BIG Projects to bring in a Sydney eye to the development.

“Our role is to give our design partners the space and freedom to explore,” says Matt Barrett, Director of BIG Projects.

“We wanted YSG Studio to capture the essence of Nobby’s, to design a building that embraces life, light and connection, while creating a genuine sense of place.”

There are only 39 apartments in The Frederick, including a striking beach house, just 100 metres from the booming Nobby Beach precinct.&nbsp;

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Yasmine Ghoniem, Director of YSG Studio, says their vision&nbsp;for The Frederick "reinvents coastal living."

“Nobby’s has such an iconic energy, it’s one of those rare pockets of the Gold Coast where the community, the beach, and the streets all feel connected,” Ghoniem says.

"Responding to the neighbouring coastline, soothing curves add a relaxing regional overlay, while unique detailing really sets it apart. It’s a place that feels lived in from the moment you step inside.”

A standout feature of The Frederick is its rooftop terrace, an uncommon inclusion for a boutique, low-rise building, where amenity is typically concentrated at ground level.

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Positioned to capture panoramic views from the hinterland to the ocean, the rooftop has been designed as a series of intimate zones. It includes a pool, sauna, sun decks, workspaces and dedicated entertaining areas.

“The rooftop was conceived as a collection of spaces where residents can unwind and connect, an extension of the Nobby’s lifestyle,” Barrett says.

Architecture for the project was led by Plus Studio, with landscape design by LDG Landscape Architecture.

SRQ Projects Director Nick Clydsdale, who is handling sales at The Frederick, says the majority of enquiry is coming from South East QLD and Victorian buyers who have been actively searching between Broadbeach and Mermaid Beach for some time.

"They’ve reviewed a number of projects, however this one has stood out for its unique detailing and compelling design,"&nbsp;Clydsdale says.

Site demolition is slated for this month, with construction commencing soon after. BIG Projects is targeting a late 2027 completion.

[smartcode_project_cta:default project_id=110588]

Sydney’s YSG Studio makes Gold Coast multi-residential debut with BIG Projects at The Frederick

Melbourne-based property developer ALTA Property has this week achieved planning approval for the adaptive re-use of a former commercial tower into a $200 million, 169-apartment project at 10 Queens Road, one of the last developable sites along the Albert Park Lake-fronting boulevard.&nbsp;

Set within one of Melbourne’s most sought-after precincts and designed by <a href="https://www.apartments.com.au/architects/fraser-partners-0">Fraser and Partners</a>, the illustrious building will offer unparalleled views across Albert Park Lake, Port Phillip Bay and Melbourne CBD.&nbsp;

The mix of 1, 2 and 3-bedroom residences will be complemented by a ground-floor amenity featuring private dining, a lounge bar, gym and wellness spaces, co-working, outdoor communal gardens, and retail.&nbsp;

The 17-storey building is a masterclass in adaptive re-use, with the existing commercial building’s façade, shell and internal structure to be retained, before high-end residences are built from the ground up in a newly built Albert Park facing addition to the building.&nbsp;

Sitting atop the building will be two 320+sqm penthouses with private rooftop terraces, which are expected to be priced between $9 - $11 million.&nbsp;

<img alt="ALTA Property achieves permit approval for $200 million Queens Road tower" data-entity-type="file" data-entity-uuid="aa11211b-5581-43f9-940c-fc84d30a0e61" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/C_04.png?VersionId=Yhf5p_1EgGDu_zOIMFgvA8Ug8j3sTFQs" />

Architecturally, the building will feature a curved, geometric façade that celebrates and elevates the existing structure, with warm, muted tones which were selected to extend the materiality of the existing building rather than contrast it.&nbsp;

Interiors will bring together three metre high ceilings with waffle concrete in some spaces, natural timber, granite and Australian materials, culminating in crafted, generous and considered spaces that are defined by authenticity.&nbsp;

The adaptive re-use means that the Queens Road project will be a sustainability led, high-quality finished product, with a 62% saving in carbon emissions by re-using the existing structure rather than knocking it down and rebuilding.&nbsp;

ALTA Property was launched by Nigel Givoni in 2023, bringing over 25 years of experience in multi level residential delivery.&nbsp;

Melbourne’s property market growth is currently led by apartments. According to RPM VIC Apartments &amp; Townhomes Market Report (April 2026), units are outpacing houses, especially in the middle ring suburbs where median prices hit $757,500 – a four-year high that represents 2.9 percent growth quarter-on-quarter.&nbsp;

<img alt="ALTA Property achieves permit approval for $200 million Queens Road tower" data-entity-type="file" data-entity-uuid="647e13d7-b4bc-433a-9bc9-fe3c3dd4f2ec" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/V_06.png?VersionId=ou4NUCWUgA3NAy.6CQJlEdKX50j3dOk6" />

For ALTA Property Founder Nigel Givoni, this performance speaks to the confidence he has in the Melbourne market.&nbsp;

“Queens Road represents a rare opportunity to continue to shape our presence in the Melbourne market.,"&nbsp;Givoni says.

"With a considered project team and a premier site along one of the city’s most sought-after boulevards, we look forward to contributing to the fabric of this established address.

“Other Australian markets are getting a lot of attention, but I believe the depth of value in Melbourne is being overlooked. The fundamentals are strong, population growth is steady and, based on our preliminary conversations with a leading builder, construction costs are beginning to normalise, creating further opportunity."

Givoni says the project is a&nbsp;highly considered example of adaptive re-use, delivering quality, high-end residences, premium hotel-inspired amenities and an architecturally striking façade, all achieved without the need to remove the existing structure.

"We are really looking forward to the market’s response,” he said.&nbsp;

ALTA Property to deliver $200 million Queens Road apartment tower

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

A rare new apartment development has been proposed on the fringe of St Ives Village.

Developer Newquest Property has lodged plans for a low-rise apartment project designed by well-regarded architecture firm Warren &amp; Mahoney, which is best known for its work in the multi-residential sector in Melbourne.

The building, proposed for a 1,916 sqm site on <a href="https://www.apartments.com.au/new-apartments/st-ives-residences-3-5-memorial-avenue-nsw-2075">Memorial Avenue</a> opposite St Ives Village Green, has been designed to blend into the surrounding natural environment.

<img alt="St Ives" data-entity-type="file" data-entity-uuid="5c1c7437-2fba-4345-a6d7-05321714ad3e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-04%20at%201.28.46%E2%80%AFPM.png?VersionId=KrYyMaJvNqR7vbx0xbB3Ef8sJ6FuHpmn" />

“Drawing inspiration from the pale trunks and flowering canopies of the scribbly gums and blue gums prevalent in the area, a considered material palette was developed,” the architectural design report states.

“This palette references the established materiality of the suburb while elevating it through refined finishes to achieve a more luxurious architectural expression.”

Of the 33 apartments proposed, 21 will be three-bedroom residences. The remaining mix includes nine two-bedroom apartments, one one-bedroom apartment and two four-bedroom residences. The development will be supported by 62 car parking spaces and 33 secure bicycle spaces.

The proposal would replace two single-storey brick buildings currently on the site.

<img alt="St Ives" data-entity-type="file" data-entity-uuid="21422eaf-09a9-4439-9278-b9bd9daf22a1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-04%20at%201.38.10%E2%80%AFPM.png?VersionId=v.fXSgcUcEscvOZzqcjG5nk3gVqk_Amt" />

St Ives remains a relatively untapped market for new apartment development. North Shore developer WINIM has a number of projects in the area, while INCA is nearing completion of Ellis Residences.

More recently, Traders In Purple has lodged plans for one of the denser projects proposed in the suburb, a 75-apartment development on a 5,900 sqm site on Cowan Road.

NewQuest, a construction, design and development firm, has delivered over 24 projects across commercial, residential, industrial, and lad markets.&nbsp;

&nbsp;

&nbsp;

First look: NewQuest Property proposes new St Ives apartment development

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Lawyers for Academy Award-nominated actor Toni Collette and her musician husband, David Galafassi, are due in court today given the couple are being sued over their failure to settle on an alleged $6.35 million Paddington terrace purchase.
The further directions hearing into the matter has been scheduled in the NSW Supreme Court equity division.
Last October the couple reputedly signed a contract to buy a double-fronted Paddington terrace from Susie Kelly, the co-founder and owner of Industrie clothing with her husband, Nick.
The Stewart Street house <a target="_blank" rel="nofollow" href="https://www.propertyobserver.com.au/residential/actor-toni-collette-and-muso-david-galafassi-fall-for-the-charms-of-contemporary-inner-city-paddington/2011110752250">was snapped at an undisclosed price </a>– but understood to be slightly more than $6 million quite early in its October marketing campaign by McGrath agent Ben Collier.
The Paddington terrace over has since been been resold for $5.5 million, so the entertainment industry couple now know the $850,000 quantum of the claim against them, having been sued over their alleged failure to settle on their once intended $6.35 million purchase.
Designed by architect Anthony Gill and completed in 2009, the five-bedroom, four-bathroom house on a 360-square-metre block sold to the couple for a record for the southern side of Oxford Street, <a target="_blank" href="/news">Paddington</a>.
Consisting of two classic Victorian terraces combined into a palatial single residence, the contemporary tri-level family retreat had been reinvented after the merger of two terraces costing $2.15 million in 2003 and $1.865 million in 2005.
The entertainment industry couple's plans went awry after they struggled to find a buyer of their <a target="_blank" href="/news">Bronte </a>house.
Their 1885 Bronte weatherboard cottage that cost $4.4 million in mid-2009 had been tipped to sell for around $3.5 million through its McGrath Estate Agents listing agent Bethwyn Richards, but struggled to find a buyer.
Collette and Galafassi changed their minds on the Paddington purchase when they instead bought back at Bronte <a rel="nofollow" href="/news">reputedly from the buyer of their own house</a>.
The Kellys bought on Kutti Beach at <a target="_blank" href="/news">Vaucluse </a>last March for $15.5 million.
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jchancellor-FAypfDUnLy

Toni Collette and David Galafassi back in court over failure to settle on $6 million Paddington terrace purchase

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There will be a surge in buyer activity in the Port Macquarie market led by rent-seeking investors, according to PRDnationwide research.
PRDnationwide research analyst, Oded Reuveni-Etzion says the arrival of the spring selling season will lead to a recovery after a few softer years following the global financial crisis.
"This is really the first sign of the reprieve that the market has shown since government stimulus and lower interest rates encouraged buyers to purchase in 2009," says Reuveni-Etzioni.
"An increase of properties on the market has resulted in a slight increase in sales activity, but prices and activity are expected to only marginally benefit from a low interest rate environment, as only one quarter (25.9%) of dwellings here are owned with a mortgage."
He says an increase in rental returns is expected to stimulate investor activity.
"The rental market has recorded a 31% increase in the median rent price for units and houses over the past five years," he said
"In June 2012 a two bedroom unit recorded a median rent of $250 per week, while a three bedroom house closed at a median weekly rent of $360. The median unit rent climbed 8.7% in the year to June, while the median rent for a house remained unchanged."
The rise in rent has been driven by a tight vacancy rate of 1.5% in September. PRDnationwide say it is now one of the tightest rental markets in coastal New South Wales.
"Gross yields for a two bedroom unit ranged from 2.9% for an apartment in Park Street to 9.0% in Flynn Street. A current median unit yield of 5.3% proved insufficient for investors, although projected growth in rent prices may change this situation in the medium term."
The principal of PRDnationwide Port Macquarie, Tony Dekker, says there has been increased investor interest in holiday apartments.
"I would say that the current low interest rates and a belief that the market has now bottomed out have contributed to this increased activity," he said.
"Certainly the newly introduced direct flights to and from Melbourne will have a positive impact on our volume of holiday makers in the near future, and we are confident that the market will improve in the New Year."
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Rebound in Port Macquarie anticipated to be led by investors

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Red Cliff, the Kater family's 2028 hectare Southern Monaro farm, has been listed for auction.
Its November 8 auction could end nearly 180 years ownership by five generations of the family.
The Campbell family occupancy, of most of the holding, originates back to Captain Ronald Campbell's 1830s holding, Cambalong Station.
There are $3.6 million plus hopes through Stewart Lee at Stewart lee &amp; Co Rural Marketing who says the farm was ideal for breeding, fattening and potential cropping.
It runs both sheep and cattle with stock numbers over the past two decades avering 245 cattle and about 5900 sheep.
The Southern Monaro farm has a  fertile mixture of basalt and red loams wuth extensive Cambalong Creek frontage and a reticulated stock watering system.
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Red Cliff on the Southern Monaro listing to end 180 years family ownership

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Hopewood House, the historic matrimonial Southern Highlands mansion owned by Fairfax Media director Michael Anderson and his wife, Susie, has been sold –  and it's presumably not likely to continue operating as a joyous wedding reception locality for hire.
It's been sold reputedly for about $5.25 million, according to local Southern Highlands chatter, although initial reports had put the sale through Ballard Property at around $6 million. 
{yoogallery src=[images/stories/2012/09/octblacktown]}
The acclaimed artist Tim Storrier and his wife, Janet, who last month listed their Bathurst rural estate (pictured above), bought <a target="_blank" href="/news">Hopewood House</a>, which was initially listed with $9 million price hopes two year ago.
It was built in 1884 by Ben Osborne and his wife, Lucy, in the grand Dutch colonial style.
Now it is set on about five hectares of gardens on Bowral's outskirts, and the Andersons restored the house and its gardens after paying $4.25 million in 2007.
The Storriers' Bathurst property,  Blackdown, is listed for sale with $4 million plus hopes through Bill Bridges at Ballard Property and James Thompson, of The Professionals Bathurst.
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Fairfax Media director Michael Anderson sells Hopewood House in Southern Highlands

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Penrith, on the western outskirts of Sydney, is emerging as an investor hotspot offering rental yields in excess of 6% with local council plans to encourage more high-density residential construction, according to a new report by PRDnationwide research analyst Oded Reuveni-Etzioni.
The report finds that rents have been rising strongly over the past five years with the median rent for a three bedroom house up 44% in the suburbs comprising post code 2750 (Emu Heights, Emu Plains, Jamisontown, Leonay, Penrith, Penrith Plaza and Penrith South) and up 40% in the suburbs in postcode 2747 (Cambridge Gardens, Cambridge Park, Claremont Meadows, Kingswood, Llandilo, Shanes Park, Werrington, Werrington County and Werrington Downs).
Rents for apartments, which make up a smaller but rising share of the market (about 25% of dwellings) have risen even more strongly over this period up by 62% and 59% increase in the 2750 and 2747 postcodes respectively.
Current property listings show yields of 6% and more are achievable.
A <a href="https://www.realestate.com.au/property-townhouse-nsw-kingswood-111759339">three-bedroom townhouse</a> in Kingswood, currently under contract from Greg Robertson of Property Central is priced between $259,000 and $289,000.
Robertson says the property will rent for around $330 per week, equating to yield of between 6.63% and 5.94% at these two price points.
According to PRDnationwide data, units in post code 2047 rent for around $270 per week and for $308 per week in post code 2750.
Houses rent for around $375 per week.
The report finds that capital values have risen moderately over the past year to July 2012, with unit price up 1.9% to $263,000, while the median house price has increased by 3.3% to $377,000.
The results of the 2011 census shows that the Penrith LGA had a median rent of $300 per week, median weekly income of $1,398 and median monthly mortgage repayments of $1,983.
Just over a quarter (26.7%) of Penrith residents rent.
The development of Penrith as a potential investor hotspot is being supported by efforts of the Penrith City Council, which aim to increase Penrith population by allowing higher density construction around transportation hubs.
Penrith is about 50 kilometres west of the Sydney CBD and connected by two CityRail lines. A journey from Penrith to Sydney’s Town Hall station takes just over an hour.
“Ultimately, the local government aims to create 10,000 new jobs in the CBD. Penrith urgently requires an urban consolidation policy to streamline the development of large residential projects around the CBD to support the increase in employment,” says the report.
“Buyer activity has been steadily increasing as investors take advantage of rent returns which in many cases exceed 6%. The last time we had returns this strong was back in the late 1980s. At the peak of the market in 2003 the returns were as low as 3%,” says PRDnationwide Penrith principal Darren Latty.
However, he warns that Penrith "urgently requires an urban consolidation policy to streamline the development of large residential projects around the CBD to support the increase in employment"
Overall, he says the outlook for the region is positive.
“Increased activity, above average rent returns, affordable housing, record low unemployment and low interest rates are all great indicators. These conditions are coupled with nearly nonexistent building activity within the CBD areas. Investors should be getting as excited as we are,” he says.
The report notes that developers often find the area inhibitive for investment, due to low selling prices, the high cost of construction and extended approval periods eroding profit margins.
However, developers now expect firm demand for centrally-located units expected due to an improvement in buyers’ confidence and the recently introduced $!15,000 state government grant for first-home owners building their first homes.
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Penrith offering yields of 6% and strong demographics to tempt investors

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A shopping centre in South Grafton NSW has sold for $5.8 million.
Some 250 kilometres south of Brisbane and 500 kilometres north of Sydney,  the <a target="_blank" href="https://www.realcommercial.com.au/property-retail-nsw-south+grafton-5754484">South Grafton Shopping </a>will have an initial passing yield of 10.68%.
It was bought by a Sydney-based private investor.
The un-enclosed centre, anchrored by Bi-Lo has a total lettable area of 3,297 square metres. Its tenants also include a pharmacy and six specialty shops. It has parking for 162 cars.
It was originally built in 2002. It has frontages to Bent Street and Bligh Street.
The fully leased net operating income of the 1 hectare site is approximately $608,462 per annum.
It was sold by Knight Frank agent Ben Stewart on behalf of Denison Funds Management, part of Metro Property Syndicate.
South Grafton neighbourhood shopping centre, anchored by a Bi-Lo Supermarket, has sold for $5.8 million, reflecting an initial passing yield of 10.68 per cent. The sale of South Grafton Shopping Centre to a Sydney-based private investor was negotiated by Ben Stewart of Knight Frank, on behalf of Denison Funds Management, as responsible entity of Metro Property Syndicate. The property, prominently located on Bent Street South Grafton, has a total lettable area of 3,297sq m. In addition to Bi-Lo Supermarket, the centre houses Guardian Pharmacy and six additional specialty shops with car parking for some 162 vehicles.
Stewart says the centre is a well-located secure retail investment opportunity.
“There continues to be strong interest from purchasers for convenience based retail investments such as this. The culmination of lower borrowing costs and somewhat limited supply of quality centres has resulted in competitive offers for some vendors” Stewart says.
It had been on the market since September last year.
According to Denison there were four interested parties. Settlement is on December 19.
Denison is currently involved in a stoush over the future of the 360 Capital Industrial Fund, with mooted plans to list the $345 million fund on the ASX.
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South Grafton Shopping Centre sells with 10.68% yield.

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As a born and bred Sydney resident of 30 years, I’ve watched over the progress (or, in many years, the lack thereof) of the north-west rail link. Over the years there have been numerous proposals to extend the existing rail network to accommodate commuters living in the suburban expanse that is the north-western suburban region.
The current proposal is for eight new train stations along a dedicated line that will be a mix of underground tunnels, sky-train sections and flat land sections. Just this week, the first demolition work commenced for some structures directly in line for the proposed work, which is a more solid indication that the line will actually go ahead.
So today I thought I’d offer some theories about how the new rail line, both in the lead-up to its completion, and post-completion, could impact on the residential property markets in the council areas around this corridor.
<img src="/images/stories/2012/10/raillink.jpg">
The area in question takes in to account several large shire and municipal council areas, and according to the Australian Bureau of Statistics, an estimated population of around 648,000 people and growing. This is significant, as it reflects just over 14% of Sydney’s overall 4,605,000 current population. The proposed eight stations will connect suburbs across three main local government areas, which are some of the fastest-growing population areas in Sydney:
<ul>
<li>Blacktown City (currently around 307,800 and is not only the most populous local government area in all of NSW, but has had the fastest population increase and intake in the last five years)</li>
<li>The Hills Shire (currently around 176,500 and also in the top five fastest-growing councils by population)</li>
<li>Hornsby Shire (currently around 164,600 and showing positive population growth)</li>
</ul>
So how will this impact the suburbs close to the proposed stations? To understand that, we first need to know more about the people who occupy them and the types of households most prevalent.  Most Sydneysiders have come to know the north-west region as a family/suburban area. And they are correct – at least according to ABS data. But RP Data can also provide an insight to this audience by way of reporting on the typical size of dwellings most readily available on the market at any one time.
To keep it short and sweet, instead of bombarding you with stats and numbers, I’ll give you the general flavour of it per local government area:
Blacktown City is popular with families with very young children, who historically preferred detached houses, but recent shifts have caused a swing towards townhouses (attached dwellings), units and apartments. This is consistence with housing stock trends reflecting increased demand for units, as well as higher-than-ever new construction commencements for units and apartments in many suburbs within the council area.
Hills Shire is popular with both young families (families with very young children, as above) and also established families, but also has the highest rate of single-person households out of all three local government areas. RP Data also highlights increased new construction starts, evenly split between free-standing houses and townhouses, villas, and units.
Hornsby Shire council area contains suburbs that are typically established families, preferring detached houses, with a small but growing preference for units in most suburbs.
 
<hr class="system-pagebreak">
 
<img src="/images/stories/2012/10/raillink2.jpg">
There is also a significant spread of median dwelling prices across all suburbs within all three local government areas, making it difficult to plot and trends, however generally speaking Hornsby contains the most expensive median dwelling prices, followed by Hills Shire in the middle, and Blacktown City after that.
The biggest question around the rail link for would-be investors interested in these areas is no doubt “Will the rail line increase capital growth and/or rental return on properties close to it?”. Without any statistics behind me and based largely on rail line extension projects completed in other areas of Sydney over the last 20 years, I would argue it is likely that some areas will record increases more than others. There are so many variables to consider before we can get more clarity around this, including:
<ul>
<li>Commuter times and ease of connection to CBD (and other high employment areas within the city) once the project is complete.</li>
<li>Speculation about Chatswood station’s congestion and overcrowding issues slowing down overall commute times for users.</li>
<li>Suburbs close to the new stations that are within walking distance will benefit from the commuter ease of access, but may lose out to noise congestion issues caused by outer-suburb drivers wishing to park in the side streets and then alight on to a train.</li>
<li>Demographic changes to the suburbs close to the new stations (more commuters, singles, and double-income-no-kids couples moving to these areas) could mean that dwelling values for larger family homes (the five-bedroom, three-car, three-bathroom variety) may suffer as demand for them may not be as strong as smaller and more affordable dwellings.</li>
<li>Residents have also only been offered speculation as to the precise travel times involved to change train services to access different areas of the city. The rail link only connects to an existing Epping line, meaning that to get to other areas of Sydney such as the south-west, southern suburbs, and north shore by rail will still be cumbersome.</li>
</ul>
Another element to consider is not only where the average north-western Sydneysider will need to work, in 10 years’ time (the rail link’s estimated completion), but how they work. More and more people are working remotely and thus are moving away from outer-suburban areas of cities, and out of cities altogether.
If the trend continues at the rates it is currently gaining momentum, in 10 years, much of our professional workforce may not even need to commute for work. This could result in a shift for Sydneysiders who select their suburb of residence in accordance to work proximity.
Someone who telecommutes could live on the central coast instead of suburban Sydney.
It is still too early to speculate more precisely on the effect of metro rail services being rolled out to this region of Sydney. There council areas affected each contain many individual suburbs, with each of these having its own market dynamics and nuances.
However, one thing is certain: opportunity for investors is always created when infrastructure advances.
My advice to those considering these areas today for tomorrow’s investment rewards is to do your due diligence as per usual, but to also research heavily the implication on traffic congestion on the road caused by changes the way people reach their train station for weekday commuting.
Cameron McEvoy is a NSW-based property investor and maintains a blog, <a href="https://propertyspectator.blogspot.com.au/" target="_blank">Property Spectator.</a>
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cmcevoy-Go82SmsJA9

What the north-west Sydney rail link means for property investors: Cameron McEvoy

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AMP Capital managed funds have acquired Westfield's interest in three of Australia’s best known retail assets, the Macquarie Centre in Sydney, Pacific Fair on the Gold Coast and Garden City Booragoon in Perth, for $1.025 billion.
At the same time, the Westfield entities WDC and WRT have acquired AMP Capital managed funds’ interests in four centres – Garden City Mt Gravatt in Brisbane, a part interest in Warringah Mall in Sydney and Knox and Casey Central in Melbourne – for A$710 million.
It's a restructure of their long-standing joint venture, with the price for all acquisitions and divestments supported by independent valuations. 
AMP Capital managed funds will be a $315 million net buyer of assets and following the simplification of its partnerships with Westfield, the number of co-owned shopping centres is reduced from 10 to four.
AMP Capital has attracted A$872 million in new equity from the Canada Pension Plan Investment Board (CPPIB) and Harina Company Limited, a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA).
The new equity will be invested in the AMP Capital Retail Trust (ACRT), which has interests in Macquarie Centre and Pacific Fair.
Their respective investments will allow these highly regarded international investors to participate in the growth of leading shopping centres located in high population growth areas with significant development opportunities.
AMP Capital managed funds will also invest A$970 million on the redevelopment of Macquarie Centre and Pacific Fair.
The redevelopment of Macquarie Centre will begin immediately and plans for the redevelopment of Pacific Fair are being finalised.
The redevelopments will create premier retail and leisure destinations, positioning both assets in the top 10 of Australian leading regional shopping centres. Planning is also underway for a proposed redevelopment at Garden City Booragoon.
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Canadian and Abu Dhabi investment injection accompanies Westfield and AMP Capital's $1.7 billion shopping centre restructure

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Writer Melanie Hershon, the daughter of the late ragtrader Michael Hershon, has emerged as the buyer of the Darling Point penthouse of the arts philanthropists Simon and Catriona Mordant.

It was sold two months ago after seven months on the market.

<a href="https://doublebay.ljhooker.com.au/K3AF93" rel="nofollow" target="_blank">The apartment </a>had been for sale with $6 million-plus hopes through Bill Malouf, of LJ Hooker Double Bay.

Title Tattle suggested it <a href="https://www.propertyobserver.com.au/new-south-wales/arts-guru-simon-mordant-lists-redundant-darling-point-penthouse-title-tattle/2012020853311" target="_blank">could fetch around $6.5 million </a>on its February listing, but it sold for just $5.3 million to Melanie Hershon whose writing career has included stints at Ita magazine, editorship of the annual Sydney Morning Herald Weekends Away magazine and of Portfolio, the first women's business magazine in Australia.

Melanie Herson's <a href="/news">Darling Point</a> acquisition had been bought by the Mordants from the retailing Fleming family in 2002 for $5.25 million.

Her father, who died in 2007, was dubbed "the Brassiere Supremo" as head of the Hestia-Berlei company among his various business ventures. Hestia was the lingerie business that his father, Edward, and mother, Serena, started with two sewing machines after arriving in Australia as Austrian refugees.

Hestia was a Greek goddess, although it became better known across the country for the irreverent acronym Holds Every Size Tit In Australia.

Michael Hershon was also a highly regarded property developer. The nearby Retford Hall apartment building in Darling Point was among the high-rise residential developments constructed by Progress and Properties, a company associated with Michael Hershon and other property legend Tibor Balog.

Another whole-floor penthouse sold for $5.7 million <a href="https://www.propertyobserver.com.au/new-south-wales/gowing-s-retford-hall-darling-point-penthouse-gone/2012091056493" target="_blank">after being listed by the Gowing retailing family in Retford Hall.</a>

The 18th-floor Retford Hall penthouse has been sold to another resident within the Thornton Street block, who could potentially ambitiously connect the apartments.

The Mordant apartment, unencumbered by any mortgage, was a 349-square-metre penthouse that spanned two levels in a Darling Point Road building designed by architects Peddle Thorp and Walker.

The Mordants listed the property in February following their $10.8 million purchase last year of a garden harbourfront Point Piper apartment in the Elk Developments project.

The year's highest-priced apartment in Darling Point has been the <a href="https://www.rs.realestate.com.au/property-apartment-nsw-darling+point-109737366" rel="nofollow" target="_blank">Salacia, Yarranabbe Road penthouse </a>of the hotelier Solomon family to Neil Sutton of the Suttons motor family, who already lives in the complex.

PO
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Simon Mordant's mere $50,000 gain after decade in Darling Point: Title Tattle

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The retired chairman of Ogilvy &amp; Mather John Hopkins and his wife, Linda, have listed their Southern Highlands property, Oast House.
Set overlooking Morton National Park, <a href="https://www.realestate.com.au/property-lifestyle-nsw-bundanoon-7481295" target="_blank">Oast House</a> is a master built, traditional Australian country homestead.
The <a href="/news">Bundanoon </a>house is set on a 20-acre (eight-hectare) holding with views stretching for around 25 kilometres.
The landscaped grounds have lawn areas, established garden beds and native, exotic trees and mass bulb plantings. There's also a  three-hole bush golf course.
It's been listed by McKillop Property agent Jeremy Crawford for November 24 auction with $1.5 million-plus hopes.
John Hopkins retired as chairman of Ogilvy &amp; Mather in 1990 to joined rival multinational advertising agency Foote Cone and Belding as chief executive for its Sydney office.
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First look: NewQuest Property proposes new St Ives apartment development

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