ASX-listed developer Cedar Woods is progressing its plans for its Southbank arts precinct site.&nbsp;

The developer has filed plans, which are now with the&nbsp;Department of Transport and Planning, for a new 20-level tower at&nbsp;<a href="https://www.apartments.com.au/new-apartments/141-151-sturt-street-southbank-vic-3006">141–151 Sturt Street</a>, a 2,718 sqm block opposite the Habitat Filter sculpture.

The proposal seeks to demolish the two-level&nbsp;commercial building, including a small supermarket and medical tenancies, and create a new building with 180 apartments and a focus on an&nbsp;active public realm and arts integration.

&nbsp;

<img alt="Southbank site" data-entity-type="file" data-entity-uuid="76a72db6-91ef-43ae-827d-a9cfa72893d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Site.png?VersionId=DZgtB4K6BswVh0QtCs3iLjXaLp0CbcEb" />

&nbsp;

There will be a full mix of apartment configurations, including 28 studio apartments, 16 one-bedroom, 104 two-bedroom, and 32 three-bedroom units.

Retail, creative arts, and residential amenity functions are integrated across the lower levels. A food and drink tenancy is planned to front Dodds Street, while a retail tenancy fronting Sturt Street will be accessed via an elevated walkway. The first floor includes a substantial 734 sqm creative arts space, envisioned to support Melbourne’s growing cultural and digital industries.

Architecture firm <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has put together the plans. In their&nbsp;Urban Design Report they highlighted the project’s ambition to embed itself within Southbank’s evolving cultural fabric.

A central feature of the design is a through-block link connecting Sturt and Dodds Streets, landscaped with native plantings and embedded with universal access ramps.

“The ramp has been thoughtfully integrated as the primary access point, ensuring universal accessibility for all users,” the report noted, with the link offering “a direct response to the urban planning scheme of creating more green spaces within our communities”.

<img alt="Southbank podium" data-entity-type="file" data-entity-uuid="4d24b1b2-d69c-4a11-a11d-ec6df432221c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium.png?VersionId=geWoJyZDmPSLODZ_.PNJ0LvpOmyyCdpo" />

The building’s podium form responds to the mandatory height limits along Dodds Street and maintains a fine-grain interface to adjoining developments. Above the podium, the tower is articulated with recessed balconies and a focus on views toward the CBD and surrounding arts institutions. A communal rooftop recreation deck and indoor lounge are positioned on level four, adjoining seven apartments and providing over 900 sqm of resident amenity space.

Vehicle access and loading will be provided via Dodds Street, with 155 resident car spaces located across two basement levels and the first three above-ground floors. Bicycle storage is more generous, with 226 spaces distributed across resident, staff and visitor needs.

Rothelowman describes the architecture as “humanist,” with ground-level interfaces designed to encourage social interaction and provide a dignified entry for both residents and passers-by. “All street interfaces are crafted to invite and nurture human connections,” the design report states. “The façade transitions to a human scale, providing an approachable and engaging streetscape”.

Cedar Woods, while well-known for its large communities it develops outside of Australia's capital cities, they have recently developed in Melbourne's inner-ring before. They are approaching completion at <a href="https://www.apartments.com.au/new-townhouses/88-leveson-north-melbourne-88-leveson-street-north-melbourne-vic-3051">88 Leveson</a>, just 15 townhouses in the heart of North Melbourne.

Joel Robinson

Cedar Woods progresses with new apartment plans in Southbank arts precinct

Brisbane developers Core Property Partners and Vector Property Australia has teamed up for Brisbane's newest apartment development.

The duo identified <a href="https://www.apartments.com.au/developments/east-brisbane-qld-4169">East Brisbane</a> as their preferred suburb, on the fringe of the Gabba Precinct, where they've just revealed BANKSII, 72 apartments opposite Raymond Park.

[smartcode_project:default project_id=136432 project_image_fid=5481]

The one-, two-, and three-bedroom apartments will sit in a glass-wrapped building that will also feature a rooftop with an&nbsp;infinity-edge pool, a BBQ area and alfresco dining spaces, sun lounges, and a sauna, as well as a resident-only gym and a ground-floor cafe.

Rhett Williams, Director of Vector Property Australia, said the project will lift the quality of the East Brisbane community and set a new benchmark.

"In Brisbane’s current property landscape, <a href="https://www.apartments.com.au/new-apartments/banksii-east-brisbane-169-wellington-road-east-brisbane-qld-4169">BANKSII</a> stands out through its emphasis on lifestyle-oriented living, connectivity and sophisticated design," Williams says.

[smartcode_project:default project_id=136432 project_image_fid=5479]

The 10-level building has been designed by MAS Architecture. Their designs were inspired by the native Banksia flower, with the architecture and interiors reflecting the organic symmetry of its namesake flora. MAS has interpreted this throughout the building’s curved form, façade detailing and interior palette.&nbsp;

The building’s flowing geometry and natural tones are complemented by large balconies and floor-to-ceiling glazing, maximising cross-breezes, daylight and views over the city, parklands and river.

“Having a strong narrative for a building helps us architecturally,” MAS noted. "We can choose colours that come off that species of flowers. The trunk and the trees and the flower elements all are now visible in our joinery on the inside and in our architectural finishes on the outside."

[smartcode_project:default project_id=136432 project_image_fid=5485]

Apartments will feature timber floors, soft porcelain tiles, brushed bronze fittings, and stone benchtops with warm veining.&nbsp;

Kitchens feature premium SMEG appliances and generous storage, while bathrooms have been designed as calming retreats with curved cabinetry and twin sinks in the master ensuites.

The building will feature a suite of rooftop and wellness amenities. Residents will have access to an infinity-edge pool, BBQ and alfresco dining areas, sun lounges and a rooftop sauna.&nbsp;

A residents-only gym will be located on the podium level, while a ground-floor café and landscaped laneway will further activate the site and improve neighbourhood connectivity.

[smartcode_project:default project_id=136432 project_image_fid=5488]

BANKSII will rise from a prime Wellington Road site, with the building oriented to overlook the adjacent Raymond Park and take in extensive city views. It is also on the doorstep of key&nbsp;lifestyle infrastructure, including the future Kangaroo Point Green Bridge, The Gabba stadium, and the planned Brisbane Live arena.&nbsp;

Public transport options, including ferry, bus and rail - including the future Cross River Rail Woolloongabba station - are all nearby, supporting a car-optional lifestyle just minutes from the CBD.

Williams said the team spent over a year searching for the ideal site before securing this location.

"We were attracted to <a href="https://www.apartments.com.au/developments/east-brisbane-qld-4169">East Brisbane</a> as it is a vibrant and growing community that offers a perfect balance of urban convenience and natural beauty with the parklands and river on our doorstep.”

The project is part of the broader Woolloongabba Games precinct, which is undergoing significant investment in the lead-up to the 2032 Brisbane Olympics. This urban renewal, coupled with infrastructure upgrades, is expected to enhance long-term liveability and capital growth in the area.

Given the wide max of configurations, BANKSII is expected to suit everyone from first home buyers and investors to families and downsizers.

[smartcode_project_cta:default project_id=136432]

BANKSII sales launch in booming East Brisbane apartment market

The Minns Labor Government will deliver Sydney’s first new heavy rail station in more than a decade – enabling up to 10,000 new homes by rezoning land around Woollahra and Edgecliff stations, right next to the CBD, to tackle the housing crisis and rebalance growth across the city.

Recent reports by the NSW Productivity Commission have warned that Sydney is losing twice as many young people as it is gaining, while also finding that Woollahra is the most feasible Local Government Area (LGA) in New South Wales to build new housing.

Despite this, housing approvals in Woollahra consistently lag well behind other LGAs, and the population has declined by 11 per cent over the past 50 years while Greater Sydney as a whole has grown by 74 per cent.

The new station that will be an eight-minute trip from Sydney CBD, will be located on the Eastern Suburbs train line in Woollahra, where a station build was started in the 1970s but never completed.

To enable the delivery of new homes the NSW Government will lead a rezoning of Woollahra and Edgecliff stations similar to other state led rezonings to allow additional homes to be built around the stations.

Affordable housing will also make up a proportion of development on the site with the final amount of affordable housing required, to be determined as part of the rezoning process.

The area surrounding the new station is within walking distance of major green and recreational space including Cooper, Trumper, Rushcutters Bay and Centennial Parks.

The Eastern Suburbs train line between Bondi Junction and Sydney CBD also has the lowest passenger usage rates during the AM peak of any line on the Sydney network, with only 43 per cent of operating capacity during the AM peak currently being utilised by passengers.

Sydney Water and Infrastructure NSW have confirmed there is capacity in the water and wastewater systems to accommodate the proposed 10,000 dwellings without major upgrades.

The rezoning is expected to take around two years and will further support the Government’s housing targets that rebalance the delivery of new homes around existing infrastructure.

&nbsp;

&nbsp;

Next stop Woollahra train station - delivering up to 10,000 new homes in the heart of Sydney

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Fresh off completing its mixed-use Malvern project Malvern Collective, Kokoda Property Group has acquired a prime site on Richmond's Bridge Road.

They are planning a mid-rise residential development with&nbsp;integrated wellness amenities and a vibrant ground-floor retail and dining offering.

The site, at&nbsp;487–495 Bridge Road, spans&nbsp;1,650 sqm with 50 metres of dual frontage across Bridge Road and Palmer Street. It is currently leased to Adairs, and has a large retail building and 20 onsite car parks.
</section>

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Kokoda Property Group’s acquisition forms part of a broader phase of growth in Melbourne, building on momentum from the completion of Malvern Collective and the recent purchase of a Burnley Street site for the developer’s first commercial project.&nbsp;

Mark Stevens, Kokoda Property Group’s Founder and Managing Director, said that the company’s Bridge Road site acquisition signals confidence in a city that is re-accelerating.

“Melbourne is regaining momentum,"&nbsp;Stevens said.

"After a cautious period post-COVID, we’re seeing buyer sentiment stabilise and capital leaning back into well-located, quality projects. Victoria now benefits from deep builder capacity and competitive delivery pricing, creating a rare opportunity to bring design-led inner-city developments to market without compromising on craftsmanship.

“Richmond ticks all the boxes for us – connectivity, culture and everyday amenity – making Bridge Road the perfect address for an amenity-rich, multi-use development."

<img alt="Kokoda" data-entity-type="file" data-entity-uuid="9a8de51d-8092-480a-8b7e-e081816692c2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-08-29%20at%208.54.27%E2%80%AFAM.png?VersionId=VRHpV5.6beOu2cieKHWrw3ErMPuVOAuj" />

Envisioned as an “urban lantern” the building will bring a distinctive new presence to Bridge Road with a sculptural retail frontage, designed to honour the street’s heritage character while contributing to its renewal.

Stevens said the acquisition reflects the developer’s commitment to design-led addresses in Melbourne’s inner city.

“Drawing on Richmond’s rich heritage and dynamic character, we’ve envisioned a contemporary building that respects the past while elevating the way people live today. With dual frontages, curated ground-floor spaces, and a focus on wellness, this project will contribute to the neighbourhood’s evolution, appealing to both downsizers and a new generation of professionals.”

Kokoda Property will now progress concept design ahead of a future planning process.
</section>

Mark Stevens, Kokoda Property Group’s Founder and Managing Director, said that the company’s Bridge Road site acquisition signals confidence in a city that is re-accelerating

First look: Kokoda secures Richmond site for new apartment development

Gold Coast developer Drew Group is fast approaching sell-out at its Main Beach apartment development, Lagoon Main Beach.

In the last nine months, Drew Group and sales partner Pezet Matheson have secured 31 sales totalling over $75 million, as the two-tower development advances towards completion under the expert eye of Hutchinson Builders.

“Today's buyers are more discerning than ever," Drew Group Managing Director Jon Drew says.

"It's essential to provide something truly unique that sets a development apart, and we believe Lagoon has achieved just that."

[smartcode_project:default project_id=108747 project_image_fid=193023]

Just over 50 per cent of recent&nbsp;sales have been to local buyers, reflecting the deep trust and connection within the Gold Coast community that Drew Group has developed over the years.

Demand has been particularly robust at the top end, with two of the three exclusive penthouses already sold, alongside five sub-penthouses. Only seven apartments remain in Lagoon's Signature Series — one&nbsp;penthouse and six sub-penthouses.

[smartcode_project:default project_id=108747 project_image_fid=284864]

Drew Group has also removed the much-maligned sunset clause from all contracts at Lagoon. The sunset clause — although rarely invoked, yet on occasion known to have been — allows developers to take back contracts on apartments should the building not be completed within the timeframe specified in the contract.

Pezet Matheson Co-Director Jayde Pezet says the fact Lagoon is&nbsp;within a year of completion, and has no sunset clause in contracts, provides certainty to buyers.

"This is paramount in the current market," Pezet says.

Drew Group has committed to providing the highest level of security inclusions — none more impressive than the Ubiquity Access Control System, a cutting-edge facial recognition technology that is one of the most state-of-the-art keyless entry systems on the market.

[smartcode_project:default project_id=108747 project_image_fid=190743]

One of the biggest drawcards to Lagoon has been the size of the apartments.

"It is unlikely that any future new development in Main Beach will be able to offer such spacious living at this price point," Drew says.

"Today's buyers are more discerning than ever, carefully evaluating amenities like gyms, spas, workspaces, and beach lockers, along with quality finishes. It's essential to provide something truly unique that sets a development apart, and we believe Lagoon has achieved just that."

Lagoon is set to complete construction in mid-2026.

[smartcode_project_cta:default project_id=108747]

Lagoon Main Beach approaches sell-out as local buyers drive $75m in sales

Penthouses

<h3>R.Iconic: A Lifestyle-First Masterpiece in Melbourne</h3>

When considering purchasing a property at R.Iconic, it’s impossible to overlook the development’s unique blend of luxury, lifestyle, and location. This landmark project by R.Corporation isn’t just a residential offering—it’s a complete lifestyle experience designed for discerning buyers who want it all.

Michael Searle from R.Corporation sat down with Apartments.com.au CEO Mike Bird to discuss what makes R.Iconic such an outstanding choice for buyers. Here are the key highlights that capture why this development stands out in Melbourne’s competitive property market.

&lt;p&gt;&lt;iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/lewKdmUUw2s?si=xhuNVHwClEFrKRp1" title="YouTube video player" width="560"&gt;&lt;/iframe&gt;&lt;/p&gt;

<h3>1. Breathtaking, Protected Views</h3>

Step onto the balcony of any R.Iconic residence, and you’ll be greeted by sweeping views of Port Phillip Bay, stretching to the Mornington Peninsula. Unlike many inner-city properties, these views are protected by zoning regulations, ensuring they remain unobstructed for life.

This not only enhances the day-to-day experience for residents but also secures the long-term value of the property—making R.Iconic an investment as stunning as it is practical.

[smartcode_project:default project_id=5234 project_image_fid=215072]

<h3>2. Unmatched Location</h3>

R.Iconic offers the best of Melbourne living. Just 1.5 kilometres from Collins Street, it’s a short tram ride or walk from the city centre. Meanwhile, the beach, South Melbourne Market, and world-class dining are minutes away, creating a perfect balance between urban convenience and beachside tranquillity.

As Michael Searle explains, “You’ve got this sort of inner-city living, but with a beachside feel. You’re close to all the culture, dining, shopping, and sporting events that Melbourne is famous for, while still enjoying a quieter, more relaxed neighbourhood vibe.”

[smartcode_project:default project_id=5234 project_image_fid=215077]

<h3>3. Lifestyle-Enhancing Amenities</h3>

At R.Iconic, luxury goes beyond the walls of each residence. The development boasts a suite of amenities designed to enhance your lifestyle:

<ul>
	<li>A year-round heated pool and sauna</li>
	<li>A fully equipped gymnasium and running track</li>
	<li>A cinema and dining pavilions</li>
	<li>An acre of gardens designed by Paul Bangay on the fifth floor</li>
	<li>A convenient on-site Coles Local and Liquorland</li>
</ul>

For premium residents—those in the penthouses and townhouses—the Horizon Lounge offers an exclusive retreat with 270° views, a full kitchen, and a luxurious space for hosting special occasions.

[smartcode_project:default project_id=5234 project_image_fid=233906]

<h3>Luxury Residences Tailored to You</h3>

R.Iconic offers a range of luxury residences, each designed with sophistication and comfort in mind:

<ul>
	<li>
	Penthouses and Sub-Penthouses 
	These stunning homes, priced between $2.1 million and $6.3 million, offer 140 to nearly 300 square metres of living space. Elegant interiors by David Hicks feature Gaggenau appliances, marble finishes, and sunlit balconies with panoramic views.
	</li>
	<li>
	Townhouses 
	Inspired by Melbourne’s iconic Victorian terraces, these three-level homes offer private street-level entrances, double garages, and the same high-end finishes as the penthouses.
	</li>
</ul>

Each residence is crafted with meticulous attention to detail, from the spacious hallways to the high ceilings and premium finishes.

[smartcode_project:default project_id=5234 project_image_fid=298021]

<h3>A Completed Project You Can Experience</h3>

One of the standout advantages of R.Iconic is that it’s already complete. Buyers can visit the development and experience the quality, layout, and lifestyle firsthand—something that’s often difficult to imagine from renders alone.

As Mike Bird noted during his tour, “The width of the hallways, the height of the ceilings, and the overall design speak to the thoughtfulness and quality of the development. R.Iconic has prioritised buyer needs, delivering a product that truly stands out.”

[smartcode_project_cta:default project_id=5234]

Watch the video interview with Michael Searle from R.Corporation as he discusses what makes R.Iconic such an outstanding choice for buyers. 

Urban Editorial

R.Iconic: A Lifestyle-First Masterpiece in Melbourne

Developer JQZ has sold the first penthouse within its $1.6 billion St Leonards project Eighty Eight just seven days after its release.

The $10.5 million price set a new record per sqm rate for highrise Lower North Shore through Apex Investment Alliance.

The price equated to $52,239 square metre for the 209 sq m two storey penthouse.

The buyer had been looking for eight months.

The 88 by JQZ residential precinct is now under construction at 88 Christie Street.

It comprises two residential towers one of 47 and the other 26 storeys.

There is also a commercial tower of 15 storeys designed by PTW Architects.

The initial apartment sales were in 2018.

[smartcode_project:default project_id=7841 project_image_fid=27244]

Denis Wan, of Apex Investment Alliance who sold the penthouse, described it as an impressive price.

There are four two-storey penthouses on levels 46 and 47 of the 88 by JQZ tower.

Henderson and Co founder Angus Henderson has designed the interiors.

Set 220m above sea level, the four-bedroom penthouses will have the highest elevation of any residences on the north shore, with views over the Sydney CBD, Sydney Harbour Bridge and Sydney Harbour.

In 2016 there were reports almost $11 million was paid for a penthouse in the St Leonard&rsquo;s The Landmark development by Chinese developer New Hope and VIMG. 
&nbsp;

JQZ has sold the first penthouse just seven days after its release

jchancellor-FAypfDUnLy

Eighty Eight by JQZ scores pricey St Leonards penthouse apartment sale

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A penthouse in the Harrington Collection, the luxury off the plan development in The Rocks precinct in Sydney, has hit the market with a $39.8 million price tag.
The Harrington Collection by Hannas and Golden Age Group is one of the only residential projects to have gained government approval in the precinct in the last eight years.
Designed by Australian design studio Francis-Jones Morehen Thorp, the four-bedroom penthouse boasts a total area of 485sqm.
Of the 485 sqm, 140 sqm is a dedicated rooftop terrace with views of the Harbour Bridge and Opera House.
The apartment's kitchen features a butler's pantry and a stone island bench. 
In the apartment is a wet bar, spa, fireplace and movie room.
Laver Residential’s Dennis Vertzayias and Sam Elbanna <a href="/buildings/the-harrington-collection-75-85-harrington-street-the-rocks">are marketing the apartment</a>.
“The architectural design and quality of the finish represents a once-in-a-lifetime opportunity”, Vertzayias said.
The project includes more than 1,000sqm of commercial office space, as well as eight retail and hospitality spaces.
Both local and offshore interest is expected for the luxury residence.
The property is due for completion in mid-2021.
For the Harrington Collection brochure, click here.
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j.ballantyne1990-6AQqhLzZaK

Near $40 million dollar penthouse in Sydney's The Rocks listed

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Auction clearance rates have firmed further in Sydney and Melbourne as many more buyers seek out the early winter offerings, ahead of the likely seasonal listings hibernation.
Auctioneers across the east coast capital cities reported a continued spike in auction bidder registrations that has hastened following the federal election outcome.
Two LJ Hooker auctions in Sydney attracted more than 20 registered buyers. And at Hurlstone Park in Sydney's inner west, so many buyers registered that Richardson &amp; Wrench ran out of bidding paddles for the four-bedroom period home at <a id="LPlnk721593" class="x_OWAAutoLink" href="https://www.propertyobserver.com.au/https://hurlstone-park.randw.com.au/residential-for-sale/0000407516" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">8 Mill Street</a> that went $200,000 past the reserve to sell for $1.655 million.
A house,<a id="LPlnk972307" class="x_OWAAutoLink" href="https://www.domain.com.au/news/brisbanes-worst-house-if-you-want-to-buy-itll-have-to-be-from-the-photos-only-837495/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable"> </a>dubbed Brisbane’s worst house for sale, sold at competitive weekend auction for $253,000, in the nation's cheapest auction outcome.
Its pre-auction publicity attracted some 40 registered bidders for a house deemed so unliveable that none were allowed to inspect inside.
The Brisbane dump at <a id="LPlnk453102" class="x_OWAAutoLink" href="https://www.propertyobserver.com.au/https://raywhiteeastbrisbane.com.au/properties/residential-for-sale/qld/marsden-4132/house/2107878" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">47 Birch Street, Marsden</a> attracted an opening bid of $120,000 which rose quickly to $230,000, when it was declared on the market.
It sold to an owner occupier looking for a project.
Its marketing photos published by Ray White East Brisbane agent Ryan McHarg showed the three-bedroom brick house on Brisbane’s south side had kicked-in walls in every room, graffiti inside and out, fire damage in the bedrooms, along with missing floorboards and brickwork.
A community organisation which provides lower cost housing for Indigenous community members bought it in 1988 for $78,000.
The two largest auction markets, Melbourne and Sydney, both saw their preliminary clearance rates rise; coming in at the mid-60 per cent mark, however volumes were lower week on week in the first weekend of winter.
A 66.1 per cent preliminary clearance rate was recorded across Sydney this week, making it the best performing capital city according to preliminary CoreLogic results.
It comes off the back of last weekend’s 62.1 per cent final clearance rate which was the highest Sydney has seen in over a year.
The nation's top weekend sale was $5.51 million in Mosman through LJ Hooker Avnu agent Michael Coombs.
The deceased estate sold for $1.01 million above reserve with <a id="LPlnk968613" class="x_OWAAutoLink" href="https://avnu.com.au/our-listings/4-balmoral-avenue-mosman-nsw/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">the five-bedroom house at 4 Balmoral Avenue</a> on the market for the first time in 67 years.
There were eight registered bidders who competed for the 608-square-metre holding.
Domain reported there were 13 registered parties when a four-bedroom deceased estate at nearby <a id="LPlnk327783" class="x_OWAAutoLink" href="https://www.ogpartners.com.au/buying/NSW/North-Shore-Lower/Mosman/House/1P2066" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">28 Lang Street, Mosman</a> sold for $2,635,000 to an upsizing family who intend to renovate the Federation house. The reserve was $2.2 million.
Only five got to bid with the other prospective buyers including developers, first-home-buyers and investors. It was offered for the first time in four decades.
There were slightly fewer homes taken to auction across Sydney this week with 674 auction held, down from the week prior when 707 auctions took place.
Sydney auctioneer Tom Panos saw bidding from around five parties interested in <a id="LPlnk442671" class="x_OWAAutoLink" href="https://www.realestate.com.au/property-house-nsw-lewisham-131138958" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">40 Morton Avenue</a>, Lewisham which sold under the hammer for $1.41 million, $130,000 above the $1.28 million reserve.
The opening bid was $1,275,000. The second bid was at its reserve.
However a three-level Republic 2 apartment in Darlinghurst listed with a $2 million to $2.2 million price guide was sold to its only registered bidder at $2.05 million.
The sub-penthouse at <a id="LPlnk966551" class="x_OWAAutoLink" href="https://www.realestate.com.au/property-apartment-nsw-darlinghurst-131122234" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">301/50 Burton Street is being sold </a>by retired Bangkok-based Willis Towers Watson executive Andrew Heard.
David Servi of Spencer &amp; Servi had listed the two-bedroom, two bathroom apartment which has 172 square metres of floorspace, including the rooftop terrace with city skyline views.
The apartment that sits in a BKH Architects-designed complex with an outdoor pool and gym was being offered for the first time since completion.
It was a $1400 a week rental in 2017.
The quarterly levies sits at $5000 a quarter.
Domain economist Trent Wiltshire said the weekend results were a sign the Sydney market could be close to a turning point.
“Clearance rates are now at their highest point in over a year, and other signs also point to renewed buyer interest – more people are attending open for inspections and auctions and more people are inquiring about home loans,” Mr Wiltshire told Domain.
Wiltshire said although some headwinds remain, notably a sluggish economy and tighter lending conditions, most indicators point towards Sydney and Melbourne’s house price falls "ending this year.”
Brisbane's top sale was an acreage 30 minutes from the CBD at 76 Molle Road, Ransome, a modern seven bedroom five bathroom house.
<a id="LPlnk402809" class="x_OWAAutoLink" href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house/qld/brisbane-east/ransome/397709" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">It secured $1.65 million</a> through McGrath agent David White.
The one hectare property last sold at $778,000 in 2006 with the house constructed in 2011.
There were 1,654 homes taken to auction across the combined capital cities coming into the first week of winter, down from the 2,055 homes auctioned last week, according to CoreLogic. 
The lower volumes saw the preliminary auction clearance rate rise to 61.5 per cent after last week’s 57.7 per cent final clearance rate, which was the highest final weighted average result in over 12 months. 
Over the same week one year ago, a higher 2,281 homes were auctioned, 54.1 per cent of which sold.
Melbourne returned a 64 per cent preliminary auction clearance rate across 733 auctions, after last week’s final clearance rate fell just short of 60 per cent (59.6 per cent).
Melbourne's top sale was $3 million in Camberwell when a five bedroom 1900 home at <a id="LPlnk270150" class="x_OWAAutoLink" href="https://fletchers.net.au/24004/60-brinsley-road-camberwell" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">60 Brinsley Road</a> was sold. It's pre-auction price guidance had been $2.75 million to $3 million. It last sold in 1999 at $476,000.
There were three bidders for the property which was called on the market at $2,875,000.
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The remaining capital city auction markets all saw a lower volume of auctions take place week on week.
Perth returned the highest preliminary result of 55.6 per cent, there was however only 26 homes taken to auction across the city last week. 
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Less stock, more buyers boosts weekend auction success rates

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A three-level Republic 2 apartment in Darlinghurst has been listed for June 1 auction with a $2 million to $2.2 million price guide.
The sub-penthouse at <a href="https://www.realestate.com.au/property-apartment-nsw-darlinghurst-131122234">301/50 Burton Street is being sold </a>by retired Bangkok-based Willis Towers Watson executive Andrew Heard.
<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/2019/5/29/dar%202.jpg" alt="">
David Servi of Spencer &amp; Servi has listed the two-bedroom, two bathroom apartment which has 172 square metres of floorspace, including the rooftop terrace with city skyline views.
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The apartment sits in a BKH Architects-designed complex with an outdoor pool and gym.
There is level lift access to secure double car parking, along with visitor parking in the pet-friendly complex.
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Republic 2, Darlinghurst sub-penthouse listed for June auction

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The three level penthouse atop the Harry Seidler-designed The Cove in The Rocks has been listed for sale.
The Cove was one of the legendary architect's last Sydney residential projects.
The 2004-built skyhome, one of the largest penthouses in Sydney, has been owned by Europe-based businessman Graham Hellier, who paid $10 million in 2006 when it was sold by receivers after creditors foreclosed on the mortgage fraudster Kovelan Bangaru.
The apartment had been stripped back by aggrieved tradies who'd not been paid.
Hellier spent around $3 million refurbishing the space which comprising 485 sqm internal area and 180 sqm of terraces. 
Commanding a $7,500 a week rental in recent years, the 43rd floor glass wrapped lounge and dining zones offer 270 degrees views of the Sydney harbour backdrop. There's an imposing staircase up to four  bedrooms and a rooftop terrace with a spa pool.
McGrath Edgecliff agent Craig Donohue has the listing which has $30,000 quarterly strata levies.
Last year Magellan Asset Management executive chairman, Brett Cairns paid $7.5 million for the three bedroom sub-penthouse on the 41st floor.
This article was first published in the Weekend Australian. 
 
 
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Cove, Sydney penthouse listed for sale

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Halo on Mount in West Perth is set to see another $4 million plus sale this year with the listing of its second penthouse.
Following on from the $4.3 million sale of the adjoining "penthouse south", Ray White Claremont agent Viven Yap seeking higher offers for "penthouse north" with its own rooftop terrace.
The ninth level apartment in the 2015 completed block spans over 450 sqm and has three bedrooms and three bathrooms. It has views over the Swan River and looking out to the city skyline.
The private rooftop terrace comprises a mosaic and glass swimming pool, stainless steel barbecue kitchen and a enclosable Corradi Outdoor Room. 
There's been renewed confidence in the Perth prestige apartment market.
Earlier this year another West Perth apartment sold for $8 million, the highest sale since a South Perth apartment on the Swan River sold for $12 million.
This article was first published on Weekend Australian.
 
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Halo, West Perth prestige apartment listed for sale

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A three level skyhome with views across the Noosa River from its numerous balconies has been listed for sale in the Las Rias complex.
The penthouse has been renovated since last traded with classic white marble replacing the chequered wooden flooring in the living areas.
The living spaces begin on the fourth level of the apartment block, which open to a 12 metre long alfresco balcony.
On the next level sit the three bedrooms, along with another long balcony.
A Blackwood-treaded stairwell crowned with a chandelier leads to its sky terrace.
Tom Offermann Real Estate agents Tom Offermann and Luke Chen have set a June 22 auction.
It will likely break the building record, set last year when the adjoining three bedroom penthouse sold for $3.1 million.
The penthouse was briefly listed in 2016 with a $7.5 million price tag, but then pulled from sale by Lyn Morrison, the founder of Belmondos restaurant on Hastings Street.
Las Rias dates back to the late 1980s, with six of the 26 owners still retaining their acquisition after its construction by the Tatton and Cameron clans.
It has an exclusive residents' only white sand beach and jetty.
The tightly held Las Rias building has a sculpture of a Queen conch shell on the facades.
The cul de sac complex is one of only three Noosa buildings rise to six storeys,double the currently planing limit.
This article was first published in the Weekend Australian.
 
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Noosa River Skyhome with views listed for sale

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The expat retail executive David Lowy has spent about $47.4 million on a condominium in New York City.
The unit, a <a href="https://www.propertyobserver.com.au/https://www.cityrealty.com/nyc/midtown-west/one57-157-west-57th-street/45511" target="_blank">penthouse at One57 at 157 West 57th Street</a>, had been owned by shell companies linked to Kolawole Akanni Aluko, a Nigerian businessman accused by the U.S. of conspiring to pay bribes to the country’s former oil minister in return for steering oil contracts to companies owned by Mr. Aluko and his partner, the Wall Street Journal reported.
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One of Mr. Aluko’s lenders filed to foreclose on the property earlier this year, public records show.
Mr. Aluko’s entity bought the apartment for $50.9 million in 2014, public records also show. 
The 6,240-square-foot unit has four bedrooms and 4½ baths and sweeping views of the city and Central Park. Lowy’s purchase of the One57 penthouse is the highest paid on a foreclosure condo sale in New York City.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/12/4/Lowy3.jpg" alt="">
Following the deal, Lowy is now listing his apartment on a lower floor for $27 million, which he bought for $28 million in 2015, according to public records.
The 4,116-square-foot unit comprises three bedrooms and 3½ bathrooms and has been has been completely upgraded by the owner, according to the listing.
 
 
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David Lowy upgrades in New York's One57

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Apartments of this ilk are not a common occurrence across Melbourne.

Offered the opportunity to visit Orchard Piper's freshly completed penthouse atop their Washington Street development in Toorak, Apartments.com.au jumped at the chance to view what is now Melbourne's newest entrant in the ultra-luxury apartment living stakes. Apartments.com.au was guided through the development by Orchard Piper's Luke McKie, who along with Rick Gronow spearhead the development firm.

Whilst the other five dwellings that constitute Washington Street have been sold, the 1,000sqm penthouse has been held back by the development team with the expectation that the final product would effectively speak for itself.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image6wash.jpg" rel="gallery-all" title="Living area and outdoor terrace"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image6wash.jpg?itok=0fB2Ydd3" title="Living area and outdoor terrace" width="580"></a>

<figcaption>Living area and outdoor terrace</figcaption></figure>Washington Street's penthouse is split between 580sqm of internal living and 420sqm across multiple external terrace spaces. It may not have reached such ample proportions if not for Luke McKie moving into the existing property and befriending the neighbouring land owner.

Far from the stories of internationally-backed developers swooping on prime sites and developing almost immediately, Orchard Piper initially secured two adjoining properties and played a long game whereby a third adjoining site was eventually added to the development plot over the course of a year.

The then larger site encapsulating 27-31 Washington Street was taken to planning, reflecting Orchard Piper's penchant for high-end developments in blue-chip locations.

Enter Melbourne-based studio Jolson. Washington Street is the fourth collaboration between architect and developer.

It's a successful relationship that Luke McKie describes as being based on a gentlemen's agreement in that despite there being no format agreement, the two choose to utilise one another almost exclusively. This is the case as both parties have a near identical ethos to quality design and project delivery.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image4wash.jpg" rel="gallery-all" title="A bathroom like no other"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image4wash.jpg?itok=k8nXf3O9" title="A bathroom like no other" width="580"></a>

<figcaption>A bathroom like no other</figcaption></figure>Upon touring the finished penthouse it becomes apparent that the attention to detail is (and needs to be) astounding for a project of this nature. 

From computer generated programs that modelled a sole aspect of the dwelling countless times until the entire team found consensus, to the depth of research undertaken both domestically and overseas, or simply sitting in the shell pondering vistas and orientations, it is a process of analysing every aspect of the design and build to the enth degree.

Far away from the repetitive towers that dot the skyline, it's the immense attention to detail in this one penthouse that fosters a feeling of craftsmanship in the finished product which for all intensive purposes is an elevated home. Coupled with underlying themes such as space and proportion, security, natural light and amenity, Washington Street does deserve a ‘one of a kind’ status.

Having previously had experience with the likes of Mirvac and working on such projects as The Melburnian, Luke McKie explains that the detailing within the Washington Street penthouse simply has no peer. For the record, the penthouse is split into two wings by a central gallery hall, and includes a gymnasium, pool, sauna, exercise studio, private garage with separate lobby, dedicated lift access, a 1,300 bottle wine room and cigar bar.

Surrounded on all four sides by gardens, Washington Street's penthouse interior features travertine stone, timber floors, polished plaster walls and bronzed metal detailing. Eckersley Garden Architecture account for the landscape design whilst custom touches are added by New York's Lindsey Adelman Studio and Murano glass maker Venini.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image3wash.jpg" rel="gallery-all" title="Washington Street's penthouse pool with city views"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image3wash.jpg?itok=u-Mp3AWW" title="Washington Street's penthouse pool with city views" width="580"></a>

<figcaption>Washington Street's penthouse pool with city views</figcaption></figure>Luke McKie has flagged an existing Toorak resident as the likely buyer of Washington Street's penthouse. He believes the 1,000sqm penthouse will meet the expected sale price of $20 million, or $20,000 per square metre, which is not uncommon in Toorak.

Beyond successfully completing Washington Street, Orchard Piper's nous for high-end projects will shift to Armadale, where a 2,000sqm land plot at 35 Huntingtower Road is in their sights.

Simply dubbed Huntingtower, the project will consist of 10 Jolson-designed oversized residences across two levels. Two and three-bedroom dwellings are in the offing; internal areas ranging between 160 to 370sqm whilst private outdoor spaces peak at 215sqm. 

Once more Orchard Piper hopes to tap into buyers from suburbs immediately surrounding Armadale.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image1htto.jpg" rel="gallery-all" title="Huntingtower is Orchard Piper's next project"><img alt="" class="image-article-full-width-580px" height="603" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image1htto.jpg?itok=T_LyU75k" title="Huntingtower is Orchard Piper's next project" width="580"></a>

<figcaption>Huntingtower is Orchard Piper's next project</figcaption></figure>Apartments.com.au utilised the images provided by Orchard Piper.
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